Hi guys,
I was wondering if it is dangerous to invest in new Altcoins? I mean, when you look at all the charts, every new coin launches pretty high, or it increases to a high peak and after that it decreases every time. Lots of altcoins are freefalling. So, the question is, are the lot of them a pure pump&dump scheme or a scam so the developer can cash in pretty big? I mean what is the point of all the altcoins when they don't "innovate" over the altcoins; i.e. NXT/QRK coins are indeed an innovation over BTC in the sense it has at least another encryption method.
Thanks for explaining,
New altcoins are very much dangerous to invest in seriously, when investing in altcoins it may be best to invest in something with a little history and with a dev team moving forward, if you had invested in doge before it was on an exchange there was high risk of the bottom falling out at any time and a person could have lost all of their investment, who is to say it was a pump and dump though? it is a meme coin, hilariously fun and not worth as an investment unless you enjoy the entertainment.
I currently collect Bernankoin and at a steady rate, although I am constantly reminded by the community that it began as a big joke much like doge, I like the joke, I like sending others BEK, I like the fact that it draws attention to the FED and how impossible it is to continue with unsound economic principles and remain independent, I like the fact that it is modeled like the current FED economics, no new innovations, no plans to improve beyond FED policy, I give it value because it is entertaining to me, that is the point of this coin, it has no value except we give it value.
Stablecoin makes some sense to people who are looking for decentralized coin options and anonymity, they have a dev team working towards their goals and a growing community, still an altcoin and still high risk.
Quark is using more security to secure it than bitcoin, has a dev team actively working toward their goals and a strong group of supporters, trading on many exchanges, bounty's to further its progress, still an altcoin and still a risk.
altcoins are a risk, high risk investment, but then bitcoin has been just that to some also, depending on individual investing targets.
Who can say which way either one of these coins can go? If a developer makes the wrong enemies in the community then obviously the coin is going to get bashed on, there is no one person ATM that can convince me completely that any single coin was built to be a pump and dump for the developers profit, I find some people holding large amounts of coins bashing others just to increase the value of their holdings moving forward, as bitcoin has been viewed as a threat to some currency's around the globe, altcoins have been viewed as a threat to bitcoin, which they may be, the joke coins could tarnish the image of altcoins, and altcoins could tarnish the image of bitcoin, and if you have any holdings then its most likely that you would like a positive light to shine on it to bring large investors to the table that would help stabilize your investment and bring growth, you do not want another altcoin to bring down your the value of your holdings, but I could wrap them all together and if one burns me i could view it as if they all carry the same risk and pull out altogether.
I guess i could ramble on and on but my point is this, altcoins are a risk, not to be viewed as a get rich quick program, you could lose alot of money as so many have, new innovations or not, your gambling
