Sell your altcoins and tokens TODAY, save yourself the frustration

[mickey_miner]

You know how this is going to end. You might be trying to lie to yourself, you might be secretly hoping that some token in your "portfolio" that you have 10 million of is going to moon to $50 and make you rich, but let's be real: that is not going to happen. Even the allegedly strong altcoins like LTC or ETH or whatever is cool these days (I've been out of this game for a while) are not doing well and BTC dominance is growing. Which makes sense if you think about it. BTC can do most of what any altcoin can do and the few really useful features that BTC is missing (private transactions for example) are implemented by multiple altcoins, fragmenting their market share.

And the elephant in the room: 99% of altcoins are total garbage. They're called shitcoins for a reason.

Sell your altcoins and tokens. Take the proceeds in BTC, stick it into a cold wallet, keep some online to play around with Lightning and other things that actually matter for real-life stuff, like being able to buy something. When was the last time you were able to use for example Ethereum for something tangible, not to buy some garbage tokens or to play a game?

Do it today. Your grandkids will thank you.

I agree with you, I recently sold all my altcoins, because they almost do not grow in price. I hope I made the right decision, but maybe I was wrong and will soon regret what I did.

[hatshepsut93]

There's really no place in this world for thousands of coins all trying to do the same thing, users don't want to manage dozens of wallets, ideally they would have one coin that covers everything. So, even if altcoins had merit, most of them would still be doomed, but reality is far worse because of how many coins are just scams. If you're an altcoin bagholder, it's objectively better to cut your loses now, while you still can get at least a portion of your investment back, because in next years exchange will delist more and more shitcoins, and your 80% loss will turn into 100% loss.

[Decksperiment]

We just don't know what will happen in the future since no one can predict it. I only hold alts that have a working product and maybe this choice of mine will be justified once crypto markets went bullish again. Also, it is highly unlikely that no alt season will ever arrive, and if its true, then there is no point in developing blockchain  innovations needed by most industries in order to grow right now.

I think you misunderstood me. By "alt season" I mean a big market boom like 2017. I don't think that's gonna happen. There are so many worthless coins and tokens, and smart people with money have hopefully learned the lesson so I doubt there will be trillions of dollars available to lift the whole market.

But innovation can still happen. Some coins will do well. Except 99% of us have no chance of guessing which ones. Even if they have a working product - usually there is like 3 or 4 or 15 competitors. So whatever bags you're holding - they're not going "bullish".

A new alt season much bigger that the one in 2017 could happen but I think this will  only be experienced  by those projects that hast demonstrated resilience and has very good fundamentals, unlike in 2017 that even a shitcoin can achieved a ridiculous market cap.

[TitanGEL]

You know how this is going to end. You might be trying to lie to yourself, you might be secretly hoping that some token in your "portfolio" that you have 10 million of is going to moon to $50 and make you rich, but let's be real: that is not going to happen. Even the allegedly strong altcoins like LTC or ETH or whatever is cool these days (I've been out of this game for a while) are not doing well and BTC dominance is growing. Which makes sense if you think about it. BTC can do most of what any altcoin can do and the few really useful features that BTC is missing (private transactions for example) are implemented by multiple altcoins, fragmenting their market share.

And the elephant in the room: 99% of altcoins are total garbage. They're called shitcoins for a reason.

Sell your altcoins and tokens. Take the proceeds in BTC, stick it into a cold wallet, keep some online to play around with Lightning and other things that actually matter for real-life stuff, like being able to buy something. When was the last time you were able to use for example Ethereum for something tangible, not to buy some garbage tokens or to play a game?

Do it today. Your grandkids will thank you.

You have point! But we should only sell the altcoins that doesn't have potential in the market. There are only few altcoins that are really valuable and preferable to hold. The altcoins that we should holding are the valuable ones and have more room for growth.

[Mpamaegbu]

Sometime before ETH turned $3, I happen to buy some about 7k of it, if I just wait for the breakout at $7, I could have more money to spend on every ICO in 2017. I'd be waiting for more years from now on before selling the tokens I own. I'm pretty sure I can wait this time, I shall feel the frustration today but will later not.

And to even say it later got to $1,432.88 USD
(Jan 13, 2018) makes one want to cry. The truth is that the OP is right in a way about most of the altcoins being shitcoins. But there are still coins/tokens with potential. You never can tell when the potential will be unleashed and you miss the bus. I have some altcoins that have grown cold on me but I am still hopeful of a rise some day. Only time can prove me wrong.

[dimonstration]

I agree that almost 80% of the entire cryptocurrency in the cryptocurrency market is a waste of money.  After a certain time, each user will be convinced of this.  A good idea is to get rid of such cryptocurrencies, and buy the highest rated and most sought after coins.  But there is only one problem, which is who will buy this cryptocurrency if everyone wants to get rid of these bad coins.

Many still aim to have those potential altcoins and even bitcoin. At these instance maybe those who want to a have significant return in their capitalin the long run. They will realize to and need to understand that they should take this time and accepts high level of volatility. If we make ourselves too frustrated we might decide things we will regret soon, as long as we know that all coins we have is something worth having then it will sure to recover after this.

[joshua123]

Its up actually to you. You might regret selling when the right time for selling come. This is happened all the time in crypto space. When everybody selling altcoin, the price suddenly rise a week or a two after that then many complained of why they dont hold. Some happened also, why they hold it now thr value drop instantaneously and nearly no value now. See, its a risk trial for every scenario here unless you know what will happened.

[Eclipse26]

You can't just others what they have to do with their coins. It's theirs after all. Yes bitcoin is dominating and growing compare to altcoins. Bitcoin is leading and for me, I would also prefer holding bitcoin. But if others want to hold altcoins, let them be. They can still keep altcoin but it's better if they have more bitcoin in their wallet. You can't also be sure about the future of altcoin. Let's not close the possibility of an altcoin doing good or might as well dominating crypto...

[Eugenar]

You know how this is going to end. You might be trying to lie to yourself, you might be secretly hoping that some token in your "portfolio" that you have 10 million of is going to moon to $50 and make you rich, but let's be real: that is not going to happen. Even the allegedly strong altcoins like LTC or ETH or whatever is cool these days (I've been out of this game for a while) are not doing well and BTC dominance is growing. Which makes sense if you think about it. BTC can do most of what any altcoin can do and the few really useful features that BTC is missing (private transactions for example) are implemented by multiple altcoins, fragmenting their market share.

And the elephant in the room: 99% of altcoins are total garbage. They're called shitcoins for a reason.

Sell your altcoins and tokens. Take the proceeds in BTC, stick it into a cold wallet, keep some online to play around with Lightning and other things that actually matter for real-life stuff, like being able to buy something. When was the last time you were able to use for example Ethereum for something tangible, not to buy some garbage tokens or to play a game?

Do it today. Your grandkids will thank you.

I disagree with the percentage you've provided, 99 percent of altcoins to be disregarded isn't seem to be true, there are altcoins that are performing on their respective exchanges, it might not be published on coinmarketcap but we all know, the world of cryptocurrency is so big, the purpose of altcoin is not just for funding, or transaction, it has its practical purpose as well, you might just missed allot of altcoins that are worthy.

[GSpgh]

I supported what you said on the OP but the ideal business strategy was not to put all your eggs in one basket which was a smart investor decision in other not to make total lost. There's a lot of shitcoin and there's a lot potential altcoin which have the capacity to take over once total Bitcoin is mine.
Have ever thought that things may change once the total 21millions Bitcoin are mine?

What about it? That's decades away. At that point the use of Bitcoin will either be sufficient to support miners via fees or it will have disappeared altogether. However this has nothing to do with the mostly worthless pile of crap that is altcoin/token market today. If Bitcoin survives and stays strong you should really invest in Bitcoin. If Bitcoin doesn't survive then I doubt any of the current altcoins would survive either. Most likely they'll be replaced with something better.

I'd like to make a bet on how many coins from the current market cap top 100 will still be around in 10 years but unfortunately it'd be hard to adjudicate and no one would want to put money into escrow for that long.

For altcoin, I rarely use it for long-term investments. Usually, I only hold it a few days or weeks to trade and take the right timings, at the most two months I hold XLM for being trapped by a fake wall. It's too risky indeed because this is very difficult to predict, another case with bitcoin which already has a very strong niche in the cryptocurrency ecosystem.
For some people, there must be a strong reason why holding altcoin, of course, because opportunities still exist, they dare to take risks. Isn't cryptocurrency full of unpredictable things even considered impossible before?

If the goal is to take risks - you should gamble in a casino, where the risks are known and you can choose the exact risk/reward scenario that suits you. Gambling in the unregulated altcoin market is throwing money away. I'm not talking about experienced traders. I'm talking about regular bag holders who got some coins for example based on ICO promises but have no real way to gauge the trustworthiness of the project and the viability of the idea and any of the other things that matter. All those altcoin tokens are not required to have audits or file quarterly reports so for example stock market due diligence can't be applied here.

so sell low ?
nice advice..
let me know how it worked for you in a year...

Did you even read the thread? I sold a few months ago. Worked out fine. Those who didn't sell today will realize a few months from now that they made a mistake.

I disagree with the percentage you've provided, 99 percent of altcoins to be disregarded isn't seem to be true, there are altcoins that are performing on their respective exchanges, it might not be published on coinmarketcap but we all know, the world of cryptocurrency is so big, the purpose of altcoin is not just for funding, or transaction, it has its practical purpose as well, you might just missed allot of altcoins that are worthy.

I don't think I missed anything. There is no need for that many altcoins. Most of the ICOs/ITOs/STOs/IEOs/etc are just attempts to crowdfund someone's pet project, if not outright scams. Those will mostly fail, just like most dumb crowdfunding ideas do, for example on kickstarter. Most of them don't need to be on the blockchain to begin with. The only successful altcoins will be those that provide vital infrastructure and there aren't that many types of infrastructure that we need.

[sapnu]

The situation in the market is indeed frustrating but I don't thini selling at this moment due to panic would be the solution. There are still cryptos worth holding despite of the fact that most of its market value keeps on falling at thid moment. We never know what would happen before this year end so for now, holding I think would be a better thing to do than to sell out of frustrations.

[Kersh768]

The situation in the market is indeed frustrating but I don't thini selling at this moment due to panic would be the solution. There are still cryptos worth holding despite of the fact that most of its market value keeps on falling at thid moment. We never know what would happen before this year end so for now, holding I think would be a better thing to do than to sell out of frustrations.

I agree. Selling won't aid the problem in the market and it could even turn into worse because the market value of cryptos would continue falling. With regards to the assumptions before this year end, same thing happened last year as far as I remember. Due to continuous dumps, people came up with an idea that the market will recover at the end of the year but the total opposite happened which resulted to more frustration. Just hold and wait.

[boltz]

Do me a favor and sell your bags and stop complaining here about you holding all the shitcoins on the markets. Its not our fault that you hold coins without real use case , team , roadmap and so on so don't fud all the altcoins as some of them will really skyrocket in price.

Please bookmark your post and come back in 2 years and cry more as you will see how much did you lost. Some of us were here in 2013/2014/2015 and we saw worst time that the current one. I think you're just impatient with your investments and you invests in coins that actually have 0 chances to rise in price but like I said its not our fault for your investments.

[GREENch]

TS described the situation that has now developed in the market and presented it as an advice or recommendation on investment management. And when the market situation changes, he will create a new topic and give other recommendations.
P.S. nothing personally, but it’s better to choose your own path and not follow the beaten path.

[crypto1998]

i don't care if all coins are shit i don't hold any coin for more then hours im working
 with short term investing like buying a coin at 20 sold at 21 buy at 60 and sold at 61 in just hours 

[GSpgh]

Do me a favor and sell your bags and stop complaining here about you holding all the shitcoins on the markets. Its not our fault that you hold coins without real use case , team , roadmap and so on so don't fud all the altcoins as some of them will really skyrocket in price.

Please bookmark your post and come back in 2 years and cry more as you will see how much did you lost. Some of us were here in 2013/2014/2015 and we saw worst time that the current one. I think you're just impatient with your investments and you invests in coins that actually have 0 chances to rise in price but like I said its not our fault for your investments.

Eh don't make conclusions without knowing what I own or without even reading the thread. I've already sold and I'm not complaining. I'm already up almost 100%, i.e. I could buy back almost double the amounts of coins I sold. I never even had very horrible shitcoins, mostly top 20 marketcap, so anyone trying to diversify into smaller coins is probably going to end up far worse than that. Sure some will rise... many more will fall tho.

Good luck with whatever strategy you choose.

[ven7net]

You know how this is going to end. You might be trying to lie to yourself, you might be secretly hoping that some token in your "portfolio" that you have 10 million of is going to moon to $50 and make you rich, but let's be real: that is not going to happen. Even the allegedly strong altcoins like LTC or ETH or whatever is cool these days (I've been out of this game for a while) are not doing well and BTC dominance is growing. Which makes sense if you think about it. BTC can do most of what any altcoin can do and the few really useful features that BTC is missing (private transactions for example) are implemented by multiple altcoins, fragmenting their market share.

And the elephant in the room: 99% of altcoins are total garbage. They're called shitcoins for a reason.

Sell your altcoins and tokens. Take the proceeds in BTC, stick it into a cold wallet, keep some online to play around with Lightning and other things that actually matter for real-life stuff, like being able to buy something. When was the last time you were able to use for example Ethereum for something tangible, not to buy some garbage tokens or to play a game?

Do it today. Your grandkids will thank you.

Of course you are right, and if you can sell everything and buy BTC, this is the best solution. But unfortunately, not everyone can do this. One reason is the price of BTC. Of course, it will be good if the price of BTC goes down again, this will be another chance to buy Bitcoin at the best price. But still, the price of 8000 USD for 1 BTC will not allow many to buy a tangible amount of the first cryptocurrency, which means that the motivation is insufficient. I think that in this case it might be better to buy ETH, since it is much cheaper. However, if it is possible to take BTC, then this is unambiguously necessary to use.

[ololajulo]

Though it might be very difficult to find any project thriving in the market especially with those big hype but will be surprised at few good profit project that never got the accolades at crowdfund. some even in the tune of 8x, how many are they among so many. Whenever I see any advice to sell alt-coins I believed its a strategy to upset the release of some token

[poornamelessme]

It'd be great if anyone knew where the markets were heading. OP apparently hold BTC as otherwise it makes no sense for him to state to sell all of your altcoins. Yet if you followed his advice in 2017, you'd be kicking yourself at the end of the year.

I don't expect to see a repeat of 17/18, but nobody knows where alts or btc will go. Maybe BTC consolidates at the 8K level and alts take a run for the next couple of months. Maybe BTC goes nuts, leaving alts in the dust. Only advice that is relevant is to consider taking profits when available, otherwise nobody can say for certain where markets will lead.

And let's not act like BTC is a superior coin either. It's not like BTC is great and all alts are shitcoins. Some alts have better technicals and serve different purposes than BTC, so from a product standpoint many are actually superior. BTC is king because it was first, it's that simple -- but as a coin it is kind of lousy, actually -- certainly it's not the best crypto to use as a currency.

I hold BTC and some alts, so either way I profit (assuming either eventually go up). But it's foolish to act like you know where the markets will lead.

[GSpgh]

Of course you are right, and if you can sell everything and buy BTC, this is the best solution. But unfortunately, not everyone can do this. One reason is the price of BTC. Of course, it will be good if the price of BTC goes down again, this will be another chance to buy Bitcoin at the best price. But still, the price of 8000 USD for 1 BTC will not allow many to buy a tangible amount of the first cryptocurrency, which means that the motivation is insufficient. I think that in this case it might be better to buy ETH, since it is much cheaper. However, if it is possible to take BTC, then this is unambiguously necessary to use.

You can buy BTC in fractions down to about $0.0001, although due to fees you probably want to start around $10. The price of one full bitcoin doesn't really matter. What matters is that if you currently own $10 worth of altcoins, it was likely worth around $20 last year and it will be likely worth $5 next year. Think about that.

It'd be great if anyone knew where the markets were heading. OP apparently hold BTC as otherwise it makes no sense for him to state to sell all of your altcoins. Yet if you followed his advice in 2017, you'd be kicking yourself at the end of the year.

Not really. If you cashed out at the peak then maybe you'd have been better off but you would have to time it perfectly. But if you just held BTC from let's say early 2017 until now - you'd have a 10-12x gain without any hassle.