Waves - Cut losses or hold and watch again in a year

[Aki4real]

So I've FOMO'd a tiny bit of BTC into Waves ICO, after reading their plans it all looked legit and worth a shot.


Now I probably have witnessed the worst communication/PR from any project with more than 1 mill in funding and I'm thinking about cutting my losses.


To be honest, the amount invested isn't that much (about .5% of my total portfolio).

What would you do, hold and wait? Or dump it..

[spartak_t]

Now I probably have witnessed the worst communication/PR from any project with more than 1 mill in funding and I'm thinking about cutting my losses.

I think that WAVES gathered more than $20 million from their ICO.

[Aki4real]

Now I probably have witnessed the worst communication/PR from any project with more than 1 mill in funding and I'm thinking about cutting my losses.

I think that WAVES gathered more than $20 million from their ICO.

Yeah, that makes it worse. Any startup with more than 1 mill should have a decent PR strategy, or someone who handles it.
Anyway, vote pls

[spartak_t]

Yeah, that makes it worse. Any startup with more than 1 mill should have a decent PR strategy, or someone who handles it.
Anyway, vote pls

It will not be fair to give my vote, since I did not really researched WAVES. Why? Because it was everywhere on the forum and I don't like that. What was the ICO price? 32-33k satoshi?

EDIT: And how much did you "invested" if its not a problem to share?

[a fool and his money ...]

next year it's delisted and nobody can remember that.

[Aki4real]

Yeah, that makes it worse. Any startup with more than 1 mill should have a decent PR strategy, or someone who handles it.
Anyway, vote pls

It will not be fair to give my vote, since I did not really researched WAVES. Why? Because it was everywhere on the forum and I don't like that. What was the ICO price? 32-33k satoshi?

EDIT: And how much did you "invested" if its not a problem to share?

I think its close to half the ICO price.
I'd rather not talk in straight numbers so I can tell you how much of my total cryptoportfolio I invested: 0,5%

[spartak_t]

I think its close to half the ICO price.
I'd rather not talk in straight numbers so I can tell you how much of my total cryptoportfolio I invested: 0,5%

The way I see it, selling now would mean that you will lose about 30% of your initial "investment". I'm not sure if it is the right thing to do, since WAVES price is now lower than ever. It will take a bit more time for the WAVES team to disappear (if it is a scam), so it's possible the price to have some rebounds.  

[StinkyLover]

next year it's delisted and nobody can remember that.

And the devs cash out and buy Lambos and Teslas and beachfront properties by Huntingdon Beach
Anybody remember the plot of "The Producers"?

[tokeweed]

So I've FOMO'd a tiny bit of BTC into Waves ICO, after reading their plans it all looked legit and worth a shot.


Now I probably have witnessed the worst communication/PR from any project with more than 1 mill in funding and I'm thinking about cutting my losses.


To be honest, the amount invested isn't that much (about .5% of my total portfolio).

What would you do, hold and wait? Or dump it..

Here's the thing...  In trading or investing, your aim for the long term is to preserve your bankroll , war chest, capital, funds or whatever you may call it.  So with that in mind, it's almost always a good idea to cut your losses, save what you have left and be ready to pick a better spot then enter a trade again.  

In your case with Waves, I think it would be a good idea to cut your losses for now rather than holding and risking that small loss into a big loss.

[yefi]

What was the ICO price? 32-33k satoshi?

They raised 29,634 BTC in return for 85,000,000 Waves, so that's approx. 34,800 Satoshi per Wave.

[spartak_t]

What was the ICO price? 32-33k satoshi?

They raised 29,634 BTC in return for 85,000,000 Waves, so that's approx. 34,800 Satoshi per Wave.

Then it looks pretty bad at the moment. Just looked at the price and it felt under 20k satoshi.

[Nxtblg]

In your case with Waves, I think it would be a good idea to cut your losses for now rather than holding and risking that small loss into a big loss.

I did that with some of my WAVES in order to diversify. He's right about not trying to catch the falling knife.

Long-term, I still think that WAVES will be a winner because Sasha did get a fiat gateway up and running (Coinomat). That's the use case that I'm holding on for.

[TheRedDevil]

I too was thinking of doing the same. Cut loss by selling now and if it goes up, buy then. But the worst part is, i cannot even find a withdraw button in their ICO page. Its totally upto the team to withdraw it. Im waiting for it to be withdrawn to my wallet. Ive raised a ticket(mail ticket i think) with them, but no response from them yet.

There are other posts in here regarding waves and about the commits that contributes to the version upgrades. Feels bad though things have come to this point.

But one has to own up to everything and i guess its on us who contributed in first place. Surely being careful if there is a next time.

[raphma]

sold mine around 25k.
after their fiasco launch, with lots of free waves(not bounty, really free for anyone registering facebook there) to people who didnt invest i was already pissed. then, no buy walls, then money start to disappear without explanation and this week started with the best one... mainnet offline without any announcement.

30k to a bunch of kids who doesnt seem to know how to run a business so im out.

[Hausi]

ive sold all my waves.
maybe i buy when its lower but i dont think so.

[yelllowsin]

So I've FOMO'd a tiny bit of BTC into Waves ICO, after reading their plans it all looked legit and worth a shot.


Now I probably have witnessed the worst communication/PR from any project with more than 1 mill in funding and I'm thinking about cutting my losses.


To be honest, the amount invested isn't that much (about .5% of my total portfolio).

What would you do, hold and wait? Or dump it..

I invested for the long term (at least 1 year). Once full node is released to the public there is a great chance Poloniex will add it to their exchange giving Waves more liquidity in the market. I follow my own strategy because i believe in Waves potential, so i am probably going to buy more coins at these prices. If you are a trader, go on and just trade.

It is because of Waves roadmap that i am on long term with it, specially after LPOS is implemented (lending staking). Good luck for us

[raithe]

So I've FOMO'd a tiny bit of BTC into Waves ICO, after reading their plans it all looked legit and worth a shot.


Now I probably have witnessed the worst communication/PR from any project with more than 1 mill in funding and I'm thinking about cutting my losses.


To be honest, the amount invested isn't that much (about .5% of my total portfolio).

What would you do, hold and wait? Or dump it..

You're in a tough spot..
https://twitter.com/CollinCrypto/status/748721697587593216

[bones261]

Even if they start to develop this into a decentralized exchange, would potential customers really trust the gateway that they set up to convert fiat, BTC and altcoins to tokens on the Wavesplatform? With the way they have been going about things lately, I doubt people are ever going to gain enough trust to actually use the Wavesplatform for exchanges. I'm not sure that I would want to give these people the KYC information they would need to convert fiat to Wave tokens. I don't see any potential for a moon shot with this token, unless the Waves team decides to devote all of their 30000 BTC and 9 million Waves tokens to manipulating the market.

[The Sceptical Chymist]

Lol.  I have no strong feelings regarding waves, but I know there was a lot of hype and there are tons of people who believe in it.  So I think if you bought right now and just held onto it for a year (like OP suggests), you could probably make some decent coin.  And by coin, I mean bitcoin, because that's the only one that isn't totally shitty.

[s1gs3gv]

cut your losses fast, let your winners run.