Most of altcoin projects made are close to home activities and they don't focus on finishing their guide.
Who cares about finishing the guide. They don't even do anything to complete any item on their roadmaps. Build this ecosystem and that, while all they do is act as code cannibals and modify existing code and smart contracts on open projects on github. And people who buy them actually don't care because they're not even users. Maybe they never planned to finish the items on their roadmaps and just put together a white paper to convince you and ultimately steal your money. That happens so often that I am tired of it by now. We usually should demand prototypes before they get any money, but then they claim they can't get started without seed funding. |
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I don't believe in karma and all that, but yeah, even in this kind of industry, which is so new and which is so fragile still, it's not easy to nurture and if you don't do your bit, and if projects also don't do their bit, they're going to end up doing so much harm. People will begin to see it as a scammy place, the way we all view ponzis and HYIPs now. And when that happens, the only new people coming in are speculators, not users.
But you have that in all areas of the financial industry. Just take the bundled faulty mortgages that were sold as triple A assets and many other financial products that are being sold on a daily basis and are totally useless and will almost guaranteed never bring you any returns. In a certain sense it is the same scammer shit that we see is going on in crypto. The banks also get away with it, that's the worst because you can even identify who sold it and yet retail investors buy at their own risk as it is called. You're not wrong. But look what happened to those sectors of finance now. Subprime mortgages are no longer a thing, even banned in some places now. So this is what I'm saying, if we don't watch ourselves and continue to promote shitcoins and shitsectors like defi, it's going to fall apart, and then it'll never be allowed to grow again. Although I get your point and it is an important point you are making that I wish more people in the industry would pay attention to, I disagree that scam projects will lead to cryptocurrencies being banned. They might be further regulated and most certainly will, but you can't ban them anyway. That's quite a bit different compared to subprime mortgage style investments sold by banks. Anyway, what you say is valid: promoting shit coins just to make money on a single pump will ultimately lead to more harm than good for crypto as a whole. |
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I heard about Bitcoin and ethereum around the same time. Bitcoin was I believe around $15k and ETH was below $200. I couldn't afford to buy 1btc so I didn't buy any and I didn't buy ethereum because I believed Bitcoin was the only genuine crypto currency to buy. But since my discovery of this forum I have found members who believe different. Looking back I see I have lost on both fronts and wasted an opportunity. So my question is this which is more important factor to consider before buying a coin, do you buy because of the technology of the project and what it has to offer, the utility of the token or the news?
Bitcoin is more like a precious asset, it is digital gold. It does not have what the innovative Ethereum is, such as smart contracts, the creation of tokens, decentralized applications (Dapps) and the (POS) that it will very soon have. To invest in a cryptocurrency there must be innovation, uses in real life, developments, a verified team and partners.But having a very specific focus on a particular niche can also be similar to a feature so to say. Bitcoin due to its focus on being digital gold for now is better at being digital gold than any other cryptocurrency out there in the moment. Ethereum may be a good investment, but it is meant to be used for a lot of other purposes as well. As a passive income stream as well of course once the whole staking functionality goes live. |
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maybe many people don't believe that Germany will adopt crypto in large numbers. I didn't believe it at first because many projects from Germany failed and it seems Germany is one of the countries that doesn't support crypto. But things are changing now that Germany is officially providing entry opportunities into crypto.
so everyone doesn't know this news yet, don't judge people and please understand because not everyone is updated about this news in germany.
The thing is that 415 billion dollars is a HUUUUGE number, even though there has been news about it, I am sure we would only believe it happened if we actually saw the impact of it. I keep saying that if 1.5 billion dollars of tesla made bitcoin go up so much, if the 415 billion number was true then we would have seen bitcoin over 500k already, how? 1.5B from tesla caused it to go from 30-35k back in the day towards nearly 45k, that is when it first happened, I do not get why would we not increase to 500k with 415 billion if that was just 1.5 billion, there is roughly 415 billion difference. So at the end of the day, if something as gigantic as that, something nearly 300x more than the biggest investment we have seen so far, should have taken it to 500k easily, but it didn't, not only that we had nearly zero change, just regular market movements. So how could we believe it actually exists? Or invested? Well, there is no need to verify it as a simple Google search will show that that law has actually been passed. What's more true is that the impact of it remains to be seen as you say. Yes $415 billion are ready to go into crypto investments, but it is unclear who will make use of that opportunity. Whether it will even be a substantial number at all. Would be awesome for all of us, but we'll find out right. I don't know how eager the German special funds are to pour money into crypto, but I believe that at least some money of the approved amount of $415 billion will find its way into the crypto market. I guess that those investors who provide their assets to be managed by those funds also want some exposure to this brand new market. But I don't think we should expect the whole sum to go into crypto. Maybe over the time span of a couple of years, but certainly not at once. That is what I would expect as well. It is approved for sure, but in the end it also depends on the investors who gave their money and put it under management of those funds. Not being exposed to crypto at all could be a big mistake so I expect some of it go into crypto. Maybe in a few years from now those funds will use the whole approved amount to invest in digital assets, but not immediately. That's what I would say as well, the investors who are part of these funds will probably ask the managers of those funds to get into crypto at least a little bit. Nobody wants to miss that boat and with the legitimization via a law the investors might be even more interested in getting into this new asset class. By now everyone who participates in market knows about Bitcoin and other cryptocurrencies. |
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Personally I strongly believe in Ethereum.
It is the second fundamental currency after Bitcoin. And to my mind it is even likely to replace it one day, as unlike bitcoin Ethereum is developing all the time. A lot of defi projects appear there, and now we all wait for the launch of Ethereum 2.0. Developers try to improve their product and it is noticeable and very valuable.
We can be certain that Vitalik Buterin is working extremely hard behind the scenes and as we know him from the past he isn't rolling any updates out that are not 100% secure. That might take a little bit longer every now and then than other projects do it, but for a project of the scale of Ethereum it is the exact right thing to do. Caution is required and precision and that is what Vitalik stands for. |
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maybe many people don't believe that Germany will adopt crypto in large numbers. I didn't believe it at first because many projects from Germany failed and it seems Germany is one of the countries that doesn't support crypto. But things are changing now that Germany is officially providing entry opportunities into crypto.
so everyone doesn't know this news yet, don't judge people and please understand because not everyone is updated about this news in germany.
The thing is that 415 billion dollars is a HUUUUGE number, even though there has been news about it, I am sure we would only believe it happened if we actually saw the impact of it. I keep saying that if 1.5 billion dollars of tesla made bitcoin go up so much, if the 415 billion number was true then we would have seen bitcoin over 500k already, how? 1.5B from tesla caused it to go from 30-35k back in the day towards nearly 45k, that is when it first happened, I do not get why would we not increase to 500k with 415 billion if that was just 1.5 billion, there is roughly 415 billion difference. So at the end of the day, if something as gigantic as that, something nearly 300x more than the biggest investment we have seen so far, should have taken it to 500k easily, but it didn't, not only that we had nearly zero change, just regular market movements. So how could we believe it actually exists? Or invested? Well, there is no need to verify it as a simple Google search will show that that law has actually been passed. What's more true is that the impact of it remains to be seen as you say. Yes $415 billion are ready to go into crypto investments, but it is unclear who will make use of that opportunity. Whether it will even be a substantial number at all. Would be awesome for all of us, but we'll find out right. I don't know how eager the German special funds are to pour money into crypto, but I believe that at least some money of the approved amount of $415 billion will find its way into the crypto market. I guess that those investors who provide their assets to be managed by those funds also want some exposure to this brand new market. But I don't think we should expect the whole sum to go into crypto. Maybe over the time span of a couple of years, but certainly not at once. |
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I heard about Bitcoin and ethereum around the same time. Bitcoin was I believe around $15k and ETH was below $200. I couldn't afford to buy 1btc so I didn't buy any and I didn't buy ethereum because I believed Bitcoin was the only genuine crypto currency to buy. But since my discovery of this forum I have found members who believe different. Looking back I see I have lost on both fronts and wasted an opportunity. So my question is this which is more important factor to consider before buying a coin, do you buy because of the technology of the project and what it has to offer, the utility of the token or the news?
Although Bitcoin is the best crypto out there with outstanding features which has made it a point of attraction for most big cooperations, there are still some altcoins which are worth buying. Starting from the second best altcoin which is Ethereum, everyone who is within the crypto space can see that, Ethereum is one of a kind when it comes to smart contracts and DApp, even to the extent most upcoming blockchains can't be compared to Ethereum; therefore seeing a coin like this with such features shows that Ethereum is worth buying. Another which I can say is worth buying is BNB, owing to the fact it is a coin of the best exchange in the crypto space which is Binance. The truth is that, only a very few project team are actually working towards a brighter future, a lot which started well are no where now, some are even dead or the team are already out of ideas. So to answer your question, there are very few altcoins which are worth buying while a whole lot are just scams. In terms of features, Bitcoin isn't particularly multifaceted, but it brings to the table what other coins will never be able to bring to the table and that is organic growth. Bitcoin grew organically without much public attention. It built its user base and its supporter base over many years until it was really noticed by the broader public. That is very healthy for the distribution and for the ecosystem as a whole. Not too many financial interests were involved in the decision making process because nobody really know where this is going to go. Today if a promising project is launched it's all eyes on that project, financial interests involved, manipulation right from the start and so on and so forth. |
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~snip
Yeah, I get the point that if the communities are filled with falses promises or bad intentions without anyone correcting it, then it going to be miserable. I do agree, although we can't stop such unreasonable/scam projects keep popping up, we need to guide the newcomers to the rightful thing. in consequence even if the number of scamming keep adding up, the good will be outweighed the bad. I don't believe in karma and all that, but yeah, even in this kind of industry, which is so new and which is so fragile still, it's not easy to nurture and if you don't do your bit, and if projects also don't do their bit, they're going to end up doing so much harm. People will begin to see it as a scammy place, the way we all view ponzis and HYIPs now. And when that happens, the only new people coming in are speculators, not users. But you have that in all areas of the financial industry. Just take the bundled faulty mortgages that were sold as triple A assets and many other financial products that are being sold on a daily basis and are totally useless and will almost guaranteed never bring you any returns. In a certain sense it is the same scammer shit that we see is going on in crypto. The banks also get away with it, that's the worst because you can even identify who sold it and yet retail investors buy at their own risk as it is called. |
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The popular opinion now is buy the coins that are down, and when the market recovers that you'll be in profit. While that saying is correct but that doesn't go for all coins. Don't go buying every coins you see losing value just because you think when the market bounces up, they'll follow. Majority are losing value because people are seeing them for what they truly are which are just a waste of investment and time, also a ticking time bomb waiting to explosed.
The memes you all are rushing to buy today most probably will die with this market and won't be much of a sort after coin when the next bull run comes same goes for the Defi, NFT, launchpad projects you're all rushing to get them cheap not knowing you're buying a waste. Choose wisely, follow up the project. See if their developers are working on something or just hiding behind the now popular saying, the market is unfavorable.
Project with visions uses the bear market to build as they'll be getting less distracted with the whole when moon or when binance question for those not listed there yet. The current market situation present an opportunity to research properly and invest wisely, take notes.
It's true that some of the new altcoins that made such huge gains during the last bull market will probably never recover to the price level that they were back then. During the last Bull run i mainly invested into pre-sales of new projects via launchpads and temporarily my Portfolio had a really high value, but now since the last 3 months my portfolio value dropped more than 90% and i fear that it will never reach it's ATH value again, even if we have another bull run with new ATH's for Bitcoin and Ethereum. Bear markets or sideway markets like the one we have at the moment are great opportunities in my opinion to invest into already established and big projects like ETH and BNB for example. Thanks for your honest words and I believe a lot of people here on this forum can relate to your story. It was exactly the same during the ICO bull run in 2017. Many millionaires on paper, but nobody was millionaire in his bank account  The best you can do if you get in cheap is to get out quickly at a decent profit. The fact of the matter is that most of these projects will be dumped to oblivion. |
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Bitcointalk username: Dump3er
Bitcointalk link:https://bitcointalk.org/index.php?action=profile;u=358873
Rank:Hero Member
Current Post count: 1326
ETH (BEP20 - BSC - Binance Smart chain) address:0x562acBD6d24A50eDaA5392dD72d06165748f086C
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to store tokens on bsc, I think it's safe to do, considering this system is from binance, where binance has a good reputation as our experience. Moreover, many new projects are currently based on BSC, with low fee facilities, I think BSC is worthy of being used as a personal wallet.
Yes, using the BSC wallet to store personal assets is not wrong because the BSC wallet also has a lot of support through Binance so that it is safe to use and is very feasible for anyone who wants to use it. I is not about using the BSC wallet only, but about the good intentions that somebody can have sung the network. BSC is really efficient, there is no doubt abut that! |
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Altcoins are created for no purpose even with no idea, they just create another token or coin which may get included into the marketcap if it succeeds but not many people really want to hold an altcoin, they invest to make one time profits and willing to take the risk for it. Some newbies invest with no idea this is the reason why scammers took altcoin as a tool to loot money from people with no exceptions.
The reason for this is the easy way to create one token with small fees and with some light promotion and hypes, they create some kind of pump and dump coins and when they evil plan has been successfully executed where they escape without a trace, they will create another one with the same reason again. The list goes on and on until we have a huge list of shit coins nowadays. As you can see some of them are not like that since when they said they have some good backup big investors and their project will go public in the next month, it will come true but only a rare project will do so as we witnessed a great fake project right now is on a scamming-free. You can't exactly be sure what they think. They might have an idea about something but who knows whether they are true about what they say? I think it is more difficult than we all believe and we should invest our time in creating something great! |
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You can definitely buy other cryptocurrencies instead of Bitcoin in the hope of making more profit. A look at the coinmarketcap shows that some ultra coins suddenly go up and make several times the profit. However, in the case of long-term investment, all this cryptocurrency is not really a good idea. As Bitcoin is one of the most popular and accepted types of cryptocurrency, it is a medium for long-term investment even though it has a low return on investment. So while investing in other cryptocurrencies is more profitable, Bitcoin will be a relatively safe investment medium considering its acceptability, market volume and security.
You can do that bu if you want to get involved you should invest some time to really understand what you are dealing with! |
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I heard about Bitcoin and ethereum around the same time. Bitcoin was I believe around $15k and ETH was below $200. I couldn't afford to buy 1btc so I didn't buy any and I didn't buy ethereum because I believed Bitcoin was the only genuine crypto currency to buy. But since my discovery of this forum I have found members who believe different. Looking back I see I have lost on both fronts and wasted an opportunity. So my question is this which is more important factor to consider before buying a coin, do you buy because of the technology of the project and what it has to offer, the utility of the token or the news?
This probably means you didn't do your research properly. So you shouldn't be investing on anything if you haven't. Bitcoin and ethereum are two different platforms with different use case. Almost every (other than those shitcoins and clone coins) crypto currency was made with different use cases. You can't compare any of those. To answer your question, yes it is worth investing depending on why you are investing. Is it because you want to use their platform? Or is it because you want to make profit? The term investing by itself explains what his intentions are given the context information I guess? He obviously talks about investing for profit. Platform usage seems to not be part of his considerations. Sure you could say you invest in a cinema ticket and get joy in return, but when we talk about investing here I am quite confident we all know what is meant, don't we? |
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Disappointment is even an understatement. When we look at how many altcoins were created and then left behind without having released even a single product despite the millions and millions of investment from a lot of people, you don't only get disappointed. You would probably feel anger. That anger would even go to another level if you know that the people behind those failed projects were actually scammers who just vanished after making easy money. And it would touch the extreme after knowing that they are not even prosecuted or brought to justice.
I think what many people in this thread here miss is that this is a fundamental part of open source technology. You can't have one without the other. It was to be expected that people take code and fork it into another alt coin. A hand full of those forks did good work, modifications, innovations, and so on. It is not much different from what is happening with financial products in the banking industry. Take for example the bundling of faulty mortgages into triple A assets and what not. That is just part of the game and not something to be sad about. We want open source software? Ok, so we need to be careful when we use stuff that obviously has been used by someone other than Satoshi to create his own coin (or any other open source code for that matter). |
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Most of the pegged token usually audit their code before deployed it, unless nobody want to use it because no security guaranteed. The only thing that need to be hesitated is, is it really backed 1-1 by the real coin?
There is no way to find it out, unless they conduct an independent third party audit of the reserves. But from what I have seen in the case of USDT and other stablecoins, it is always difficult to trust these exchanges. They will just take a large part of the reserve funds and use it for other purposes, and you may never know about it. Even if they provide the wallet address and other details, you don't know whether they will move them in the future. The risk is lower with reputed exchanges such as Binance, but still some amount of probability is there that the tokens may not be fully backed up. The audited code isn't worth much. I don't quite remember the name of the thread I came across on this forum, but someone is listing the hacks of DeFi projects. It goes into hundreds of millions I think? Not exactly sure. Those codes have been audited by "professional" auditing companies as far as I know. I have no idea how much these certificates are really worth. Whenever a new project shows up these days, it has some sort of certificate that says the code has been audited. |
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the more FUD circulating in my opinion this becomes a test for bitcoin and other cryptocurrencies, look at the incident when last 2018, many coin prices collapsed, of course that happened because of the large number of FUDs circulating like this and a few months later the price soared again so in my opinion Moments like this should be used wisely.
The prices collapsed in 2018 not because of the FUD, but because of the scams in ICO sector. There is no point in not taking the responsibility for what happened in 2018. The signs were pretty obvious back then, as some of the shitcoins like TRX had accumulated market caps of tens of billions of USD. Actually, I can see the same happening now with Dogecoin managing to cross the $50 billion market cap (something that alts like TRX failed to achieve in 2018). When the market crashes, almost always it is the alts that are responsible. That is not entirely correct. Bitcoin as far as I can recall (too lazy to look it up) dropped from around $20k to around $3k. The shit coins just got wiped out entirely in terms of market cap, which is a good thing to happen. I agree with you though that the FUD had nothing to do with it. We see that today as well that bad news (or whatever you want to call them) don't really do that much to Bitcoin. Bitcoin has become quite resilient for a while now against all types of information trying to attack it. What I also fully agree with is that a couple of things exactly feel like 2018 with one being that as you said a coin like Dogecoin can go beyond $50 billion. We will find out where this ends I guess.  |
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The news are indeed correct. The law came into effect on July 7th and first moves could already be observed by those so called Spezialfonds. One article says that none of the 4,000 Spezialfonds wants to be the last and they are now dedicating a lot of resources to ensure to make the right decision as to which crypto assets they are going to add to their portfolio. As assets under management by those fonds is close to 2 trillion EUR, the overall sum that could go into crypto is close to 400 billion EUR. |
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I wonder if Elon will end like McAfee one day...
I doubt that. Elon is not on drugs. At least he is not promoting shady project for money, because he has enough Elon Musk is simply different. He does things for society, and I dont remember McAfee doing the same. Anyway, if this Floki token was really created by Elon, he would have used some kind of promotion of it, or have created a webpage for it as a minimum. But we see only a token, that perhaps, was created in a rush and there is nothing behind that. McAfee developed antivirus software, doesn't sound too bad to me. We don't need to talk about the rest though... We will first need to see how Tesla plays out in the long run. By now essentially everyone knows how Elon Musk treats the people who are working for him. The reports about working conditions are devastating. He does say that he is going to develop an environmental friendly electric car, but for that car you need certain ingredients. The question remains whether people in Africa and elsewhere will have to suffer for that in order to make the life in the Western world even better. It is a two edged sword so far. Musk didn't "accidentally" create a new cryptocurrency. He knows what he is doing and probably sits in front of his screen enjoying how he became so powerful that he can move multi billion dollar markets with a single tweet. |
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Dogegeoin was a project with little potential that should not be taken seriously. It is a hopeless case that could reach these prices with Elon Musk's ridiculous tweets. That's why I think he doesn't deserve the position he is in now.
It is still overpriced until it finally plummets a lot and goes back to the true value of it. Elon just shilled it and that is because him and other common crypto guy holds a lot of it. Vitalik sold all of his dogecoin and from the $25k of his investment on this coin, he profited millions. If Vitalik earned that much, what's more with Elon during the hype. Tesla accepts Dogecoin, and what if Elon one day says everyone buying a Tesla with Dogecoin gets 10% off. Is Dogecoin that still overpriced? Difficult question because for some weird reason Elon Musk can actually give that coin a tangible value. There could be a scenario where Tesla becomes the new superpower in the car manufacturing industry, and if that thing called Dogecoin is the key to getting a 10% discount, hell what's going to happen to Dogecoin? Imagine he says he is even going to burn the 10%! Then Dogecoin might make Elon even richer than his Tesla company already did. Do you really trust that tesla will accept dogecoin transaction ? you should not be fooled by elon, he was just asking the the twitter poll. Even the result is more people say yes it doesn't mean he will really implement it in the future. He is just playing with new investors who don't know crypto. You could see his recent tweet saying like "baby doge bey doge", that means he is having fun playing with us No you are wrong, one of his last tweets said Tesla will accept Dogecoin. As to the first one responding to me, yes, Dogeocoin in fact does derive tangible value if a Tesla costs 10% less with Dogecoin. If Tesla does turn into the biggest car manufacturer in the world, you can actually apply mathematics and see what Dogecoin could be worth. Take further into account my little fantasy that Elon says the 10% discount will also be burnt if paid in Dogecoin, how do the Dogecoiners say? Just wow! I am not saying he is going to do that, I am just saying he could! He can do anything with his net worth. |
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