The market for Altcoins has been bad recently, and many Altcoins have died and lost a lot of money. What kind of Altcoins do you think will die?thanks for sharing
Updated January 9, 2020
Thank you for your suggestions. I have selected a few altcoins for investment, BCH, BSV, ONION, DASH, XMR. There are also many altcoins with small market capitalization. I hope I can get lucky and bless you all to find the investment you like.
To answer your question; many altcoins are being created and many are being forgotten with a huge number dying everyday. The idea is simple, taking the funds to other altcoins that worth it; that is most investors gets involved with IEO for the propose of profit could be that they don't find it worthwhile, thus once profit is made they channel it to good coins which are worthy of holding in this way and gradually, most newer and worthless coins keeps dying while those with already developed and maintained plans keeps growing. Therefore I can say that only altcoins with good use case, good team, possibly active GitHub profile are worth holding. |
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In beginning of 2018 there were a lot of alcoins was launched in market, Most of them was just to scam people with typically referral method by social influencers.
This was also a flaw of Ethereum blockchain where any single person can create his own coin with his desired supply and name by costing very low fee.
As with the help of Ethereum blockchain where it was super easy to generate any coin it was easy to launch any ico with high promising goals and convince people to make their money multiple x.
Those scam or ordinary platform make alt market dirty game. And this impact very badly on the genion project where many traders lost their interest.
It happened then and still happening now where most projects are nothing but worthless, they come up with absurd ideas just to make way with funds generated and most of these projects are having their IEOs on most exchanges known for having bad records. On the part of Ethereum blockchain, I see it as a blockchain contributing its own obligation to the development of the crypto space, so whatever anyone makes of it doesn't concern the blockchain. Just like many scam projects used Ethereum blockchain in the same way many good projects used Ethereum blockchain and are still using it; therefore it is all a matter of perspective. |
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Hi All, a friend send me a message with info about a new token name NLC (Night Light Coin) with domain nlccoin.com
But the condition to receive the token airdrop is have to transfer ETH to this address: 0x36afEe66EA8d6a99A9c6c7e676D512eA4A19bC83
I'm not sure if this project is real or from any scammer to cheat everyone. Please give me some advice
Thank you
The hand writing on the wall is clear, it is a scam. An airdrop is a free token gotten for performing certain activities in a project whether upcoming or already existing, now why would you pay to receive an Airdrop? I see many of these on Twitter and people who also fall into their trap. Secondly it is not a real project because a real project seeks for funding either through IEO or as the case may be and if there will be an airdrop event, it will be through an appropriate channel and they won't ask for users or participants to send a certain amount of ETH in order to receive their token. |
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Information is very vital in whatever we do whether in the crypto space or not. Therefore anyone holding any coin whether for long term or not should endeavour to visit the appropriate social media accounts of that project for updates in case of swapping so as not to be on the losing end. Also, am of the notion that holding is a good thing but depends greatly on the type of coin, thus in my own opinion I think, if one want to hold for long and won't have time visiting the telegram group for updates then major coins can be the best as it will save them unnecessary worries.
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It is a clear fact, the community voted so that they can dump, it is a win-win situation. During the voting process, the coin will surely pump that's for sure and once it eventually wins the voting and gets listed dump will follow suit. Therefore even if the coin is a good one and someone tends to buy and hold, it's better waiting for it to get listed and dump then buy after due diligence. Also, a careful look might also show that most of these coins don't have much to offer but once given the opportunity to participate in community vote, you will see them rising massively.
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$5k is way to much to even start with considering the current price as well as the nature of this space now. During the last bull run in which ETH increased massively there weren't these number of coins in the coinmarketcap, now considering there are other good coins which people might be holding and believing it will perform well will make ETH to have a divided attention even BTC will be affected by these as well but not as much as ETH. So what am trying to imply is that, that price is way too much, many predictions has been made yet none ever come to fruition so I think it's better we stop doing so and allow things play out. |
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Hi friends:
What is the reason for the large fluctuations of altcoins in your view? Why are altcoins so fragile compared to Bitcoin and fluctuating with the smallest news? Of course, I mean the altcoins that have good ideas, professional support,... not the shitcoins.
One of the things in the crypto world is that it is unpredictable when news can affect a market positively or negatively. In the case of altcoins, the volatile nature is high when compared to Bitcoin, in that unfriendly practices or changes from the team can cause the token to drop in value; imagine a good project announcing that it will list on another exchange, of course users will want to buy and hold prior till then but what will happen if it is delayed, there are chances the token will drop in value. In addition, Bitcoin also affects altcoins, in this case when Bitcoin is rising in price most might be forced to sell off their altcoins to Bitcoin which also affect the altcoin in question. So, there are many things which affects altcoins and its price, and they might likely not be avoided. |
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In as much as it is hard to overlook, one question still harbours around and that is, what happened to the huge amount of money raised? Since there have been no good development ever since then. With this single act of banning users who ask adequate questions, it is not wrong saying the team deceived everyone. Most projects promise many things which everyone will later understand that it was just a strategy to sell their token; WPP is an example of such. From the look of things, it is clear nothing can be done other than to move on, the project already have very low trading volume which also shows it is already on the path to be called a failed project.
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This is just it, an exchange trying it's possible best to remain at the top, with Binance, users in many countries in which Binance exchange is supported can now buy crypto easily without issues, this is one of the mass adoption everyone is clamouring for; easy access to cryptocurrencies. Also, with such team on board it goes a long way to show that there is more improvement and supports coming soon reason being that, they will always try to maintain their competitive advantage over other exchanges which in turn will make the platform's token valuable.
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Hi guys,
I have one bitcoin and I want to invest it in 3 or 4 projects that have a good potential for return of investments. And because of existing a lot of projects, I hope that you suggest to me some projects according to your visions so I can study them and choose which I can invest in.
Thank you.
This is actually one of the biggest questions because everyone will point out one coin or the other, and in most cases it might leave the person who asked the question confused. Well, if am to suggest, I think you should start with top 5 or top 10 in CMC at least they have good reputation already and will look for more ways to improve other than some new altcoins which are still figuring the best way to drive their platform and in most cases too might abandon the project altogether. People always recommend ETH because it has proved to be the best altcoin, in addition to ETH I can add 3 more, BTC, BNB and XLM. So you can check them out and make the best decision, in fact BTC should be in your holdings. |
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Both are basically the same thing just that they have different platforms on which they take place. ICO takes place under the care of the team where they can decide the fate of everything and everyone, that is, to use the fund for the actual purpose or to exit scam with it. IEO on the under hand take place under the care of the exchange, in this way, the team have no other option than to play along with the exchange, thus lesser chance of exit scam. The only reason why IEO is better is that, there is no excuse of delayed listing, once IEO is done, listing and hence trading takes place.
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I remember last year, everyone was so hyped about the Binance DEX! Any project goes for Binance chain got huge pumped and price to become very high! Many good projects kept migrating from Ethereum to Binance blockchain! Even people started saying that Binance chain will be bigger than the Ethereum network at the end of 2019! What happened then? Right now, there is no hype for Binance chain and many coins have shit volume in Binance DEX! Do you think any other chain can overtake the giant Ethereum Network?
The truth is no other chain or blockchain can overtake Ethereum network and we all know it. Many projects which migrated to Binance chain had good volumes on listing but what about now? You have confirmed it, they now have shit volume and what will happen to it onward? Investors will look toward those with good volume because everyone knows that good trading volume plays a vital role in every project. When this hype of migrating to Binance chain was high, some people said, that those projects doing so are only after profit, well one couldn't agree less because now it looks like they said the truth; huge volume on listing and low volume till now with no hope of turning it around. Ethereum blockchain is solid, what it stands for speaks for it. |
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I think one needs to be fearful about majority of altcoins so as to make sound and better decisions when investing in any altcoin. Most altcoins today, holding them it's just a waste of time because they will only lose value until it becomes worthless and the team comes up with an excuse to shut down the project. Talking about these Bitcoin forks, am not a fan of them because I prefer going for the main deal which is Bitcoin. How many people are even using the services these coins offers; in my own opinion, I think if really these tokens intend to offer good services better than that of Bitcoin then everyone should be talking about them but instead when discussing altcoins it tends to center around Ethereum, BNB etc. In addition, if am to go for them, I can only invest in BCH.
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Your idea is a good one but remember every altcoin's utility is tied to the project itself, like Ethereum, any project launching on its blockchain will use its coin for various purposes, in the same way, all exchanges tokens are used for various services within the exchange as well. Although it is possible to integrate a token into another platform, but even if the token is integrated into other services, any day the project fails who will be encouraged to hold? No one. So it still comes down to, any platform be it exchange or not to continue developing so that their token will be valuable. There should be services, features, events etc which will make users to be attracted which of course will lead to more activities in the exchange.
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Recently there have been a craze and buy rush for any coin new listed on Binance but usually turns to a nightmare for those who FOMO too early. $MBL which was listed today because they won vote for community coin dumped from 59 sats to 30 sats within some minutes. This was the case with LTO too. My little advise to traders, (especially newbie traders) is to analyze properly before diving into buying a newly listed coin on Binance especially and other exchanges with such hype. Even if you must do, use tight SL and moreover there is no point chasing a moving train.
Fomo isn't only for newly listed coins, whether for newly listed coins or not, whether it is on Binance exchange or not, Fomo is not good neither is it adviced. Most times people might come across a trading signal, maybe from "experts" and might come across the coin price rising, most always throw caution to the wind and then fomo sets in; this is same is for any newly listed coins on top or major exchanges. I hope people will learn to seek the right things which will make them go after a coin rather than fomo which will only turn them to bag holders thus will end up selling at loss. |
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Aside from monetary incentives in crypto, I rarely come across discussions pertaining to why the average enthusiast in crypto is involved with crypto. While the answer may be pretty straightforward, there are some outliers.
Crypto means much more than just monetary incentives, it's essentially a technical revolution that has involved the masses, something you and I can be apart of. Ultimately, that's probably one of my greatest interests for blockchain and crypto. Another big intrigue for me is the evolution of blockchain tech in itself. I've been around for quite sometime and have witnessed the evolution of cryptos, businesses, behaviors and attitudes.
These 2 factors, along with several others, are the reasons I continue to be involved on a community and business level with crypto. It's become a hobby, passion and business for me.
The simple reason am associated or involved with crypto is because of what lies ahead, that is, the future and what it holds. Taking a look at many technologies today, all started from somewhere, they faced roadblocks but with consistency they all triumphed and today we are enjoying them. The same can be said of crypto, it is still in its infancy and with each passing day comes new hope as the world keeps knowing more about it. Talking more about my reason to be involved with crypto; decentralization is what the world needs to break free from some unfriendly practices. Nowadays to send funds from one country to another is easy and comes with a low fee, this and many more made me to understand there is more to gain in the future and it's only a matter of time. |
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Am not and have never been a fan or user of Coinbase, thus I don't know much about it. But in my own way, the first exchange I can rate as the best is Binance exchange, because of no other thing than the team's persistence and determination towards ensuring they remain on top. The next on my list would be Okex, it is another good exchange while taking into account its partner exchange known as Coinall. Kucoin is yet another good exchange but I think the need more improvement so as to maintain their competitive advantage.
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I was reading the other day of someone who deleted his wallet application without taking note of his private keys, then I still wonder within me if people are yet to understand that private keys etc are to be guided accordingly and carefully. So in relation to what you said, everyone should be careful of how to protect their wallets, mind the type of friends you have and take appropriate actions towards your security. Also, keeping mum on certain issues and questions about your assets and how to invest reduces unnecessary prying eyes hence keeping you safe.
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