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The Greed for easy money is one of the things that pushes people into making such bad decisions, how can you trust someone on Twitter to the extent of sending your BTC to help you trade, I think this can happen to only newbies although I might be wrong. Also, I agree with you, it is either you take the pains and make efforts to learn it or keep falling victim of scams. For everything in this world have a knowledge backing it up, and it must be learnt to be perfect in that field; the crypto space isn't exempted either.
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How many altcoins are really living upto expectations? Only a few and among those few are altcoins their teams made various claims of how they will beat the Bitcoin blockchain. From my own view, most projects today have given up the hope of trying to outmatch Bitcoin and no new projects can even try it when most of them aren't trustworthy. All I can point out is, the reason why Bitcoin is still on top is attributed to its blockchain which is the most trusted blockchain in this space thus having reliability unlike other blockchains; this makes people to use it more which also leads to it more popularity.
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The year 2019 came with diverse expectations from everyone. Some persons were of the opinion that the year would be better than the previous year, others had a negative view.
The year 2020 is around the corner and I would like to know what are your expectations as it relates to the market, Crytocurrency projects and the overall health of the industry.
Early this year (2020) I had big hope and expectations on the crypto space but currently now, my expectations has reduced, and it is attributed to the current nature of the world, that is the Covid-19 situation. People everywhere in the world are just struggling and trying their best to be safe at the same time looking for more ways to make money since most businesses, companies etc are currently closed; that is to say, in one way or the other its effect will be felt on the crypto space. Lastly, although my expectations are not that high again, my believe and trust didn't drop a bit because I always hope for the best. In addition, I think people are also seeing the crypto space as the best place to be in this hard times. |
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STO?
S: Security
T: Token
O: Offering.
STO method of cryptocurrency fundraising was created owing to the failure of ICO, it was created to curb the fraudulent activities within the ICO method but it failed to see the light of the day maybe due to the legalities surrounding it. Its failure lead to IEO which has been working ever since, therefore, with IEO still in operation suppressed STO the more and till today there have never been any successful STO. Therefore to answer the question asked, I don't think STO will present any solution whatsoever.
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Stablecoins are stable in price right? That is, they do not grow like other coins. Therefore when the market is green, nobody will like to be in stablecoins since it will not grow thus moving or selling to their preferred coins which leads to stablecoins being in red. Also when the market is in red, most people will like to protect their funds thus they will convert or sell to stablecoins which makes the stablecoins to be in green.
This is a common practice in the crypto space.
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I will say Ethereum is not fully decentralized, because the creator still holds a vast amount or rather controls a good amount of the coin but even at that, it still doesn't limit the potential of the blockchain, of which a good number of persons knows that Ethereum is the best altcoin. Till date, the only blockchain I see as being fully decentralized is the Bitcoin blockchain others aren't because the team will always hold a good amount of the coin which gives them power to do many things.
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I can barely remember any because the team tend to deviate from their main aim once they are listed. It is a common practice among project team that in the initial stage of their project, they will be or rather look serious, attending conference etc but once they have achieved their aim of getting the required funds and get listed, those ideas will be no where to be found, developing their use case or product which will drive utility to their token will then be a herculean task. Thus, I can't remember any token with good utility.
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So here we go again, Many projects that seen to have a potentials and could urn into something big ing thw futures have turned into scam and even exchanges are following the trends. One of those projects that I thought it would compete with others big exchanges is BCNEX. Here is what happened, I logged in and traded all my balances including those I got from their bounty campaigns and asked for withdrawal( Jan 22,20200) and up until now my request is still pending. I have tried contacting their support and noone answered my email, I went to their telegram group but unfortunately it is deleted. With all these happening I don't think investors will have an appetite of investing in a project knowing that they could be scammed and don't be able to get their money back.
To be straightforward and blunt, this is just the team scamming people which makes the exchange a scam exchange. Just from your post there are enough proof to back it up; deleted telegram group which means they don't want to attend to anyone, inattentive support or customer care service and the biggest being pending withdrawal for days now. All these are enough to push investors away. It is painful and from the way things are, I do not think you will get the funds back and better you move on so as to forget the pains it has caused. |
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This is a good post and very rich with information about different wallets and I hope you will once in a while update it and add more wallets so that people or especially newbies will have a wide array of wallets to chose from. To add my own little opinion, just as you have rightly stated, online wallets are not to be trusted because they are owned by a third-party and as such can be manipulated, in fact any wallet that doesn't give users the right to own and manage their wallet via the use of private keys etc should be less trusted. Also, in terms of mobile wallets, I will always go for Trust wallet because it supports more assets and till date have no security challenges.
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Funny, how can we know this is the authentic one when many have scammed their investors? In my own understanding, this is a scam project because there is no use case surrounding it. The project is just leveraging on the pandemic to scam innocent people and that is extremely bad. Lastly, scammers are known for making use of every opportunity and this current state of the world is giving them the bad ideas to carry out their scams, therefore let everyone be careful of many projects during this time.
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Becareful of fake promises from new projects, some use cases can never be possible on blockchain and many don't know this, I've neglected some projects because of this, why are investors fooling themselves? The warning that says ' stay away from offers that are too good to be true' is not entirely talking about profits only, sometimes it's more than that, how can we be promised that a city will use A.I technology when no single A.I project is successful in crypto space? Be wise fellas, some things will never work on blockchain, at least not this time
You have stated it all, there is a call for concern for people to stop believing in most things the project team brings no matter the hype they place around it. And also I agree with you, there are many things coming to the blockchain space which might take time to be adequately built and of course must come from a team with good experience for it to work out but funny enough most of the project team today are just after their own gains. Therefore, all the time, due diligence and proper research should be adopted no matter what's surrounding the project |
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To me both are the same, and therefore I don't trust any of them because both are always found wanting in one angle or the other. Where one reports the correct thing about exchanges the other reports fake ratings, thus, does it mean the other reporting the correct thing is better? The answer is No. I mostly use them to get the exchange a project is listed on and nothing more, that is to say whatever information they display is always questionable and therefore they need to improve.
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Am just getting to know about POLIS today but DASH I have known for a long time. From your post, POLIS looks like or is a potential token growing gradually with prospects of becoming massive, but comparing to a coin like DASH which has been in existence for long with good products and services is way off because DASH is the better and most trusted one. DASH has pitched its platform to be exceptional therefore to be overtaken by a coin still growing and not among top 100 in CMC (currently rank 387) won't be happening anytime soon.
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From the look of things, it doesn't look like it is ending anytime soon, although ICO frauds have reduced drastically since IEO came into existence but that doesn't mean one shouldn't be at alert. About getting the information on how to create a project with ERC token for a very cheap cost, the trend will also continue as well because of one thing, it is cheaper to get and easily accessible as well. However, doing so is wrong and a red flag if found out, therefore in essence it is quite good to look beyond the whitepaper to dig out the truth.
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I see one huge thing there, and that is fear of the crypto space and what it is going to achieve in the near future. Talking about stablecoins, they play in huge role in this crypto space and without them I wonder what will happen when there is a bear market and so on. Also, although the government have various powers to do things but placing a ban on stablecoins might not pull through as it will affect a lot of things maybe restrictions on its use outside the crypto space will set in. This is just the beginning and it's a matter of time for cryptocurrencies to start taking over gradually, and nothing will stop its advancements. Lastly I think it's time for decentralized stablecoins to be fully active.
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Just as it goes, centralized wallets, it is good enough for people to be cautious and preferably stay away as the owners or creators of the wallet can still manipulate to get what they want. In terms of ERC tokens, using trusted wallets like Trust wallet, Enjin etc is good and in case of a new project with a different wallet, asking the team directly for the recommended wallet is the best idea and if possible link to get the wallet. Carefulness is very important when dealing with wallets since we store our assets on them.
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Scammers in Telegram, well, there are scammers without Telegram, just why position a beautiful creation like Telegram with scammers, Telegram is a multi-functional tool with the ability to create a bot and a lot of other functionality, but as the question comes to do something useful through Telegram, many say telegram and there are scammers.
The scammers in telegram is just too much, for example, join any exchange group and ask questions, in a sec scammers in disguise of the admins will chat you up and start looking for ways to defraud. But even at this, it doesn't mean that people shouldn't use telegram for anything, rather carefulness should be embraced at all times. Moreover, in other platforms like Facebook, there are also scammers there posting fake messages about one investment or the other. From these two cases, it shows there are scammers everywhere and they shouldn't stop us from doing whatever we want, we only have to apply caution all the time; to chat with an admin, PM directly from the group. |
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News is a very strong element in many platforms and the crypto market is not different. With the right news or good news, the market will change in a minute and everywhere will be green, on the other hand, with the bad news, the market will turn down and every coin will bleed. Therefore, yes, crypto market sentiment depends hugely on news which is majorly the reason many people always search for good news in order to change strategy on most coins.
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