How I saved myself

[Ararbermas]

Thank OP, it was a good idea to think of having such with the forum. Well, was also a victim to so many scam coins. For instance, I bought Hawala at its ATH, but today, where is it. The same Electroneum you mentioned, I also bought. Well, I sold it sometimes ago, but I was at loss. This happened to lots of other coins that I cannot keep mentioning, even the ones that are not popular. Well, I see it be one of those things, one of the lessons we need to learn.
Thanks once again for the reminder.

even though we have hard times on this kind of business don't just easily give up. Wherein think positive and lesson learned.  Because we can't turn it back to fix our mistakes so we need to accept the fact and to build new strategy instead to avoid such issues again. Actually making search is always the best way to solve our problems and OP is brilliant indeed.

[1714598365]

1714598365

[opeku]

This reminds me of how i saw IOTA then and met an old man at the bank and after one or two conversations he planely told me to cash out sicnce any coin that rises always falls to regroup, tjis has been working for me till now

[ashmodeus]

Thats the risk associated with cryptocurrency investments and we should know it before we ventured into the crypto-space. I was experienced that feeling last 2018 my crypto holdings was reduce almost a half of its value.

u still lucky my friend , i got -85% in my blockfolio on dec 2018.
that a worse thing i do on my life.
i mean,buying random ICO by at the beginning of year ,and then no backup fund by USDT and buy some cheap token or shit token.
even the project i joined succesfully , the project become a next shit token.
i am totaly depressed after christmast.
the one thing make still stand is what happening recently is happened to almost people i knew.

[jacafbiz]

The way the space is now, most of the pre-2018 ICOs would die, some selected few will make it, no doubt about it, so do not over commit to any project because as we can see now, it is very difficult to know which of them would survive, because the survival rate would likely be 1:10. The reason that would accelerate this is lack of funds most of them have high burn rate and have no other source of revenue than to start dumping their developers funds on the market the way some of them are currently doing which will get people to lose trust in the project

[Christinebeauty]

Sometimes I sit back and ask myself that why are new projects being launched into the crypto market every now and then but almost all of them come and die off. So are they just coming to show off and go back to sleep?. They all come on board with big big promises  and convincing white papers but in the end, there is nothing to write home about.

[art3dsm]

Sometimes I sit back and ask myself that why are new projects being launched into the crypto market every now and then but almost all of them come and die off. So are they just coming to show off and go back to sleep?. They all come on board with big big promises  and convincing white papers but in the end, there is nothing to write home about.

Behind all of this projects greedy people, they want attract more attention to their projects and sell all their coins, after this gone and create new project.

[scambust]

Actually the ICOs on your list was already over-hyped back in 2017, most bought in, thinking the project development would be quick. Let me remind you that as of now, there is still no mainstream adoption of any coin. Everything is still speculative. The attention span of investors are very short sighted, and that caused every coin to tank very hard. Anyway, that's what markets do.

[nutriagrigia]

You have a very interesting history in the market. the most important thing is that you still stay alive and work here. I am sure that everyone who holds on and in spite of some failures - will be very rich in the future

[danggoron]

It should be like that, always be careful and consider the worst. The analysis must be carried out to the maximum. If you are only interested because of hype, market hysteria that is happening, then the investor will only end up as a donor. Stick to the principle, nothing is really safe and promising, only invest what you can afford to lose.

[Menawi12]

It should be like that, always be careful and consider the worst. The analysis must be carried out to the maximum. If you are only interested because of hype, market hysteria that is happening, then the investor will only end up as a donor. Stick to the principle, nothing is really safe and promising, only invest what you can afford to lose.

Agree, basically investing in the cryptocurrency market is like speculating. Using money that we can afford to lose is the best choice so that we don't panic when our investment goes down in value and in my opinion, we should always prepare an exit strategy when our investment doesn't go as we expect

[CryptopreneurBrainboss]

You saved yourself from huge loss because your intentions were to invest for long term, which would had cost you big time although if you had the intention of short term profit then you missed on, an opportunity to get some quick profit. On a general note, i don't encourage investing in shitcoins just for the hype but if you have my type of mindset then taking advantage of certain hype period to get enough fund by investing in some projects (short term), take your profits and accumulate more bitcoin and some specific altcoins isn't that bad especially if you're smart enough to know when to sell.

The ICO and now IEO era all came with their sweet and bitter experience. Investing in altcoins in my opinion should always be for short term unless they're very special altcoins that can stand the test of time. We'll always have new and improved altcoins therefore knowing when to join the train and when to leave is very vital. Most of those coins you highlighted gave decent ROI in short term so from a traders or short term investor's point of view, they weren't that bad.

[benjamin07]

It is amazing how many people are in the same boat! I am sorry for those who made some losses. I am summarizing some your points and adding my own feedback.

#1: Never invest more than you can afford to lose
I think we all agree on this one.

Early investors reap the benefits
This may be true for many ICOs but this is not a general rule. For example, the ParkGene which I ended up investing in tanked from day 1.

Why do projects tank quickly
I think @art3dsm gave the best answerto the first half of the question: that this is more science fiction writing and we are gullible.
The second part raised by @Christinebeauty essentially regarding the difference between ICO and IPO: most often in ICO the only asset is the white paper, whereas in IPO the company is already established and only seeking additional funding. So investing in the stock market is less risky for this reason.

Money does not disappear
Money does not vanish, it only exchanges hands. The only virtual money is the market cap: number of shares x present price of share: this is ridiculous and plain stupid as it does not take into consideration market depth.

All the money went into stakeholders and became salaries: this is a lot of money. ParkGene took $25 million (or so) in the 1-2 months ICO period, then it tanked miserably. Where did the money go? $25 Mil is enough to operate the company successfully, so if the token tanked, no problem: it can still pay dividend, and therefore will re-appreciate over time. It is money theft plain and simple. lawyers should dig in on this. It'd rather lawyers sue the thieves and them get the money rather than the thieves keep it. I'm sure there should be many supports in contract law and in equity for this to happen.

The future of ICOs
There is no doubt that everything will eventually go block chain. Just when this happens is a matter of time, but not anything near future. But this is the extent it will go to: only a change of technology from registry to block chain. The fundamentals being traded will remain the same for a long time. The Artificial Intelligence bots will kick in. They will identify who is trading and will learn their trading method and will bankrupt them. This cannot happen as long as there is some anonymity, but the first point of exposure remains the actual exchanges themselves shorting their users.

Good old BTC
In my mind the following risks remain clear and present:
1. There is nothing preventing miners from sitting at one table and decide that tomorrow we are all going to mine another coin. Of course this is akin to shooting themselves in the foot but say maybe a major outlaw event happens using BTC and regulators decide to criminalize anyone who deals with it. It can happen with fiat but the regulators would be happier if they have an excuse.

2. Although hash power is computationally very strong, it remains more hash power over the same algorithm. There have been many Urgent patches to the BTC wallet (at least there are patches which is good), but what prevents a whiz from creating tomorrow a virus that locks people's wallets, steals from them etc. We will get to a point where to fork or not to fork and split again.

3. The claim that there are no atoms in the universe to crack the code is based on traditional computing. Quantum computing is promising to make this ancient history. What will happen then?
 
I think crypto assets have a lot to prove, adoption to become more main stream, and education at all levels to become more accessible. BTC code is beyond the reach of many. You need a special Math library to avoid ETH contracts from failing math 101. This space is still in inception, give it 10 more years.

[Herbert2020]

As we were about to click Buy, I told him hang on. Let's assume we bought into a good company;

a good topic.
i just want to add that in my opinion this is the biggest problem in this market. there is no company! unlike in real world where people actually start a real company with long term plans and a product or service, here in ICO scam world what we call "company" is just a group of people (sometimes even one person) who is copying some code, changing some variables and creates a 100% useless token and sells that to the gullible public!
there is no goal.
there is no product.
there is no service.
there is no revenue.
there is no future.
that is why they all fail after a while. the only reason why they remained relevant for a short time was the fact that people were hyped up and wanted to gamble with their money so they invested in ICOs.

[yazher]

But still, you and your friends still made good decisions
if only you guys go for that investment you might lose a big amount.
Thankfully you post this and let everyone know that riding on hype is
not a good thing to do. we need to make up our mind when it comes to
investing because we might not get another chance again and
the money we lost might be our last money to spend on Altcoins.