Why Token Swaps Kill The Idea Of Hodling

[TanakabZX]

Some projects have bad teams, when they swap to new blockchain they still keep the old one around instead of erasing the old one to avoid confusing investors, moozicore project is doing the same thing presently,the old MZI token is still on exchanges trading and the new MZG is out too and many have already switched

[aristecounos]

A token swap, is the switching of digital tokens from one blockchain onto another blockchain. This usually happens when projects that utilize one blockchain (like ethereum) to facilitate funds, and then desire to move their tokens onto their own private exclusive blockchain as soon as the project’s mainnet has been launched.

Now, for an average long term investor, he buys to hold after hearing of how people hold tokens and after some years or months, they discover that their token value as gone up and then they sell for huge profits.

Most long term investors don't have that time and luxury to be lurking around telegram groups reading chats from admins and bot members. They buy like they would normally purchase shares and wait for it to go up in price while checking once in a while.

The moment a project announces a token swap, the long term investor is not aware of it because they likely don't know much about crypto stuff and don't hang around telegram groups. They just buy and hodl while hoping it moons later on. As a result, tokens are swapped and the investor ends up with losses for a project they believe was going to deliver profits for them. To make it worse, the project team will refuse to swap the investor's token after the deadline has passed.

This is sad as it effectively means you cannot be sure to buy tokens, hodl and go to sleep for 20 years, then wake up and meet it in huge profits. The project devs might have done a swap while you slept and you'd only wake up to meet a bag of worthless shit in your wallet.

If projects want to engage in a token swap, then it has to be done automatically and not manual as not every investor will be aware of the swap announcements.

If it has to be a manual token swap then they should leave the swap open forever so that investors can swap whenever they can do so and not forced to do so at a set deadline.

That's very hard to find legit project

my opinion is
We shouldn't much invest on token projects..
When u wanna invest to any projects..please checking first ..more projects are Scam now..
Before was good..

New project are legit like COUNOSCOIN .pvt..axe..and...

[Mulann2]

@OP I completely understand your view point as it will really suck to be in such situation but as an investor it is very necessary to know what is happening to your investment, so even if you are not going to engage in chitchat on any telegram group, at least attach yourself with any of the project social media handle for any new or news update or subscribe to newsletter to receive important update,
It doesn't make sense to just invest on something and you don't keep track of it from time to time,  that will be entirely your fault for being negligent.

[xOdiumNostrumx]

This issue is always present for sure. You just have to semi-regularly follow (their development) the project that you are holding, or risk loosing your funds as today's tokens can very well be obsolete in couple of months.

[lixer]

-Snip--

That is seriously a sad situation, I have been in this position also, and ever since the big project that I had invested in, waiting to stay for 3 years with them before I can think of profit did that to me, I stopped investing in too much coin, because I had too many coins that I was hoping will be a good project in future, and talking of my future, I was tying it to at least 3 years, and if it was a normal investment that you tie to 3 years, you have right not to even check it until that 3 years is close, but it is in ICO that I see this stupid token swap gives dead line without swapping the project automatically, so how many coins do I want to monitor from time to time. Me I even see this not swapping of token automatically as scam. We just need to learn to invest in very few projects that one can monitor from time to time.

[joseyphil82]

Believe me its your fault for missing out on any project's token swap, your are not on track with the coins you hodl you will surely miss out,project teams will surely announce their upcoming token swap before the day arrives so its not the teams fault, just because you are holding doesn't mean you shouldn't stay on track with the project

[Ucy]

It's pretty difficult to keep track of messaging app, email, social media etc for news on new developments. People could even lose their email/social media login information in the future. I honestly think the current method of token swap isn't perfect a one. It should be better handled. The switching from one Blockchain to new Blockchain can be quite intimidating to newbies

[BitcoinPanther]

I think swapping is ok as long as the project owner do not set a timeframe on the swap.  It does not kill the idea of hodling because swapping is not selling.  It is just the project owner finds a better platform where they can maximize the usage of their token.

[Goodvalony]

the idea of swapping platform is not to kill a project but to redesign the structure and process of the project. maybe the initial platform is sluggish in transaction, not secured and have so many flaws. the idea is to move into a  better decentralized and faster platform. investors are to follow up with projects they invested on to know the latest update. this will prevent the possibility of been left behind.

[iv4n]

I think swapping is ok as long as the project owner do not set a timeframe on the swap.  It does not kill the idea of hodling because swapping is not selling.  It is just the project owner finds a better platform where they can maximize the usage of their token.

More then that swap is announced in the whitepaper, before investing you should read it. Some of the tokens I had are now on their own blockchains, now they are coins with their explorer. Usually before the swap we see announcements everywhere, I can't understand that someone miss to read the whitepaper, and later to see announcements. I know what I hold and what will happen with my tokens!
And even if someone, for some reason miss the swap, it's possible to contact devs from the project and ask them about it, they will help. It's happened to me with trx, I had amount of trx on idex, I totally forgot about them, but with the help of the team I swapped my tokens easily.

[FaucetKING]

I'm afraid that your post might contain some wrong details about the concept of "Atomic swaps" or even the ordinary swaps. A swap is an exchange from a project to another, it's clear and easy. It might be good for a holders of a project X but it might be bad for a project Y. The fault isn't related to the concept of the swap but just these projects X and Y. The projects might support the swaps and gather some pumps and might turn up to dumps, it's up to the head managers of the project and the investors themselves, not the Swap process.

[adekogbe]

Token swaps is every holders nightmare.

There is no reason why Ann holder who doesn't consistently check telegram groups and other news channels of a project for news will be happy to hold tokens for long.

Unless the token swap will happen not long after the initial tokens have been distributed or the token swap will be open for an extended amount of time.

This is one of the reasons why i dont like projects with a to long roadmap before the Maine release.
I like projects that do their token swap as early as possible

[Rune]

A project doing a token swap that is not for a infinite period of time is just stealing the money from inactive users.
How is it money if you you need to be diligently checking news about it and if you miss a month window you lose all of your funds.

[voltesbit777]

Token swap, some holders dont know that this will happen or happened already but they are not aware and this happens many time.
What is the Idea of token swap? This is not safe as the total supply might increase. i dont support token swap, any of them.

Correct, token swap for me is really annoyed, and I think this is one of their way to avoid big rewards to their investors or
bounty hunters and most of the time those coins that have been swapped their token didn't succeed in its price in the market as well.
And you will not be happy often if their swap rate is 100:1 this always happened for the past project in which I joined before.

[attech21]

Some inventors tend to pick swap than holding thier token but why? Its because they are getting blind what they can do to thier tokens if they hold it for a while they dont even looking at and say what if i will wait a few days and see if there is a more amount of money that can exchange via token. In short they are too greedy to exchange thier token and get what they have been hard working for.

[Arsenyo]

I don't agree that token swap is killing the idea of holding, just follow the project, their media channels and you won't miss it. Some projects gives a very long time for token holders to swap their tokens or even include token swap in their roadmaps or whitepaper.