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Author Topic: We failed altcoin!! Altcoin then did the same  (Read 366 times)
BIT-BENDER
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April 12, 2020, 09:58:58 AM
Merited by CryptopreneurBrainboss (2), 20kevin20 (1)
 #1

When I got to hear about cryptocurrency Bitcoin was the first cryptocurrency I was spoken to about, it captured a part of me but I did not make much move,
But when I had about altcoins and it's attribute I became interested, there was so much said to me about altcoins that made sense but as I got to know more I discovered that they where speaking about the past glory days of altcoins.

I was so intrigued and expectant but the story changed which has lead me to Wonder what went wrong, how did it go bad?

      The answer is if we want to be  truthful we all failed altcoin

How did we fail altcoins? Some may ask.
Of a truth we failed altcoin in
+ Short term avarice: altcoin became a success and I think everyone became gluttony, shifting aside the actual purpose of the altcoin. We can see people holding Bitcoins in thousands even if Bitcoin price is high, is not that the have low business mind set, but they are seeing the usage in future,

+ We cheered fake, scam altcoins for Greek gift: yes some of us support the terrible altcoins purposely blinding them self to the intention of the altcoin, and the results stained altcoin image.

+ Lack of believe: cryptocurrency Prices  may come down at any time because of the factors controlling it, some has abandoned real altcoins because of price drop, we don't get to see that much in Bitcoin, fall in Bitcoin price is when they buy Bitcoin the more.

If you check it honestly we have not be real to altcoin. Scam altcoins on the right and on the left, we interested more in altcoin bounty than the altcoin -who are we expecting to invest in it then?-

Can we retrace our steps and do the correct thing

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April 12, 2020, 10:04:34 AM
Merited by BIT-BENDER (1)
 #2

For me, i do not think everyone failed altcoins, instead altcoins failed us.

A new project will show up, introduce a product, request for crowdfunding via ieo or ico, we buy in thousands as investors, Then token lists, price soars 2 times ieo price, Then team dumps, leaving investors to their faith.

Altcoins will refuse to launch their product, instead, delay announcement until they dump all and go awol.

I am a investor, i do not invest in crypto currency to be compassionate, but to take profits. Altcoins should so seriousness and put their all to make projects a success.

Altcoins rely on us all, as an investor, community member, bounty hunters, but give little in return.
It has to be a fair affair i suppose.

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April 12, 2020, 10:21:42 AM
 #3

For me, i do not think everyone failed altcoins, instead altcoins failed us.

A new project will show up, introduce a product, request for crowdfunding via ieo or ico, we buy in thousands as investors, Then token lists, price soars 2 times ieo price, Then team dumps, leaving investors to their faith.

Altcoins will refuse to launch their product, instead, delay announcement until they dump all and go awol.

I am a investor, i do not invest in crypto currency to be compassionate, but to take profits. Altcoins should so seriousness and put their all to make projects a success.

Altcoins rely on us all, as an investor, community member, bounty hunters, but give little in return.
It has to be a fair affair i suppose.

I understand where you are heading to. But not all altcoin are to be expected to do well, don't jump into any altcoin blindly you can limit your altcoin investment, or if possible focus on one.

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April 12, 2020, 10:39:47 AM
 #4

If by looking at the overall market of altcoins, we can say that it has already fail us.
However, we should not think that it will not recover anymore, just like bitcoin which was declared dead many times but it was able to recover.

I always put in my mind that crypto market would not be successful without altcoins and in the long run those legit and has a great potential will succeed.
Therefore, out job now is to determine those projects with great potential and wait for the right time as eventually altcoins season will come.


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April 12, 2020, 10:41:53 AM
 #5

Can we retrace our steps and do the correct thing
We must do the correc things but not from judging these altcoins. I agree that some or mostly of the altcoins are turn into scam one but there are exemption with it.

The things we can do is avoid as far for now those whom projects that are being introduced continously and dont have much potential. How we can do this? We can think, study and observe how they will work out.

Cryptocurrency is a gift and we must cherish it. Dont blame too much of them in the sameway investors hate those scammer but learn from it. Im sure we can knack it back.


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April 12, 2020, 11:34:38 AM
 #6

For me, i do not think everyone failed altcoins, instead altcoins failed us.

A new project will show up, introduce a product, request for crowdfunding via ieo or ico, we buy in thousands as investors, Then token lists, price soars 2 times ieo price, Then team dumps, leaving investors to their faith.

Altcoins will refuse to launch their product, instead, delay announcement until they dump all and go awol.

I am a investor, i do not invest in crypto currency to be compassionate, but to take profits. Altcoins should so seriousness and put their all to make projects a success.

Altcoins rely on us all, as an investor, community member, bounty hunters, but give little in return.
It has to be a fair affair i suppose.

It's a very general statement, in fact, there are some quality altcoins which did several times returns during the bear market and there are some coins which are still trading at very low prices for every altcoin to rise or at least majority of them to increase in price it will only happen in the bull market where even garbage will fly sky high.

During the bull market, even a layman can make a profit but the real talent lies in picking the projects for investment which performs well even in the bear market one of the best examples is chainlink.

Just wait for the bull market to return where the alts will go up again but before that scam ones will fail to survive in the bear
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April 12, 2020, 01:42:52 PM
Merited by BIT-BENDER (1)
 #7

It's more than just one factor that led to the disappointment and .. let's call it the "fall" of altcoins.

First, we have scams. New people get in the cryptocurrency sphere as they're attracted by new altcoin projects. They put their money in these ICOs and many of them are unfortunately scams. As a result, most newbies falling for these scams are going to first aggressively attack cryptocurrencies by bad-mouthing them and then they'll just leave and never come back again. First impression matters, and scams could lead to disastrous results for a first-timer.

Second of all, let's not forget about the ease of use of cryptocurrencies! They're not only hard to understand but also pretty hard to use. Some altcoins don't even have proper apps for mobile & desktop, so let's not even mention that some people begin by purchasing hardware wallets, buying some coins that are not supported by these hardware wallets and storing them the wrong way.. which could lead to the loss of funds. Overall, Bitcoin is and will probably always be the best when it comes to understanding the way it functions and so on because it's the most used one.

Then we have the insane number of alts out there. Like come on, it gets to a point where you just lose track of them. I have some alts I held for +5 years without ever hearing about them or touching them to find out last year that they've forked and I missed the event... therefore, my coins are now worthless. There are so many shitcoins, so many scams and fairy tales of how a coin "could become the next Bitcoin" blah blah.

And then... 51% attacks! A considerable number of coins have been left in the dust and subject to 51% attacks. Someone who owns these coins will instantly lose trust in them without a doubt.

And so on.. we have lots of reasons alts have failed. At least most of them. Most people prefer Bitcoin or the top few cryptocurrencies because they're popular and people work hard on bringing the best features and updates to them. Every exchange also has BTC and so on - it's a big circuit that leads to the final conclusion that nothing really beats BTC, be it the fastest cryptocurrency in existence. If the history told us that "all paths lead to Rome", here in the crypto world we can reconstruct the saying this way: All paths lead to Bitcoin.



There are only a few still being properly managed & developed and only few will make it through this decade imo. Those who deliver what they promised and who prove to be safe and properly secured & developed will thrive. The rest will go straight to the trashcan. So that's the only right thing you can do: deliver your promises and make your coin be what it was supposed to become when it was born. Otherwise, it'll be placed among the thousands of shitcoins that will most likely never be revived again.





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April 12, 2020, 01:54:42 PM
 #8

I think the real reasons behind terrible altcoin market are:
Dozens of scams, inactive or abandoned projects in last couple of years which has taken the trust and interest of investors away from altcoin market.
Some projects that are alive and active but are unable to come up with quality finished product even after 2-3 years of time and with many fake promises, such projects have also damaged the altcoin reputation badly.
So at the moment people are looking for only top coins to invest or trade which is hurting altcoin market as well.

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April 12, 2020, 02:11:33 PM
 #9

I think the real reasons behind terrible altcoin market are:
Dozens of scams, inactive or abandoned projects in last couple of years which has taken the trust and interest of investors away from altcoin market.
Some projects that are alive and active but are unable to come up with quality finished product even after 2-3 years of time and with many fake promises, such projects have also damaged the altcoin reputation badly.
So at the moment people are looking for only top coins to invest or trade which is hurting altcoin market as well.
Yes , sometime its not about investors that leave that project .but the owner abandonned it after they get support from investors . Too many scam that also collected money from us , if you add all of the scam project  its hundred million dollar or even billion they collected money from us. As a result we all have experience negative impact from the market .

They are still continue selling thier money collected from us and even selling thier own token to investors,and thats what really happening thats the reason why we have a long bear market seasons.

Can you imagine where we are now if we dont invested our money to the new project  and only invested our money  in btc and other popular coins?
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April 12, 2020, 02:15:58 PM
 #10

I never failed altcoins but altcoins failed me alot, I'm sure it's same story for others too, they introduce good use case, give out good price at ICO and it all end with disappointments

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April 12, 2020, 03:57:57 PM
 #11

When I got to hear about cryptocurrency Bitcoin was the first cryptocurrency I was spoken to about, it captured a part of me but I did not make much move,
But when I had about altcoins and it's attribute I became interested, there was so much said to me about altcoins that made sense but as I got to know more I discovered that they where speaking about the past glory days of altcoins.

I was so intrigued and expectant but the story changed which has lead me to Wonder what went wrong, how did it go bad?

      The answer is if we want to be  truthful we all failed altcoin

How did we fail altcoins? Some may ask.
Of a truth we failed altcoin in
+ Short term avarice: altcoin became a success and I think everyone became gluttony, shifting aside the actual purpose of the altcoin. We can see people holding Bitcoins in thousands even if Bitcoin price is high, is not that the have low business mind set, but they are seeing the usage in future,

+ We cheered fake, scam altcoins for Greek gift: yes some of us support the terrible altcoins purposely blinding them self to the intention of the altcoin, and the results stained altcoin image.

+ Lack of believe: cryptocurrency Prices  may come down at any time because of the factors controlling it, some has abandoned real altcoins because of price drop, we don't get to see that much in Bitcoin, fall in Bitcoin price is when they buy Bitcoin the more.

If you check it honestly we have not be real to altcoin. Scam altcoins on the right and on the left, we interested more in altcoin bounty than the altcoin -who are we expecting to invest in it then?-

Can we retrace our steps and do the correct thing

Although you were nor specific of those who actually failed altcoins, but if I might guess right, from the bolded, you are referring to bounty hunters.
First, let me correct this impression about bounty hunters. Yes, lots of them might be looking forward to earning from bounty, but i can make bold to say that some bounty hunters still invest.

This might not happen to all projects. One thing about experienced bounty hunters is that they have the ability to easily identify good projects. Having detected that, they will not mind investing their money in it. Some may not invest during a fundraising programme, but as soon as it's listed on an exchange and it sells below the fundraising price (Which is why some wait for it to be listed on an exchange), they buy low and later sell high.

You definitely will not see this occur at all times, because a lot of projects these days are just garbage in, garbage out. So, what do you expect- an outright failure on the part of the project.
Bounty hunters should not be blamed for this.
In fact, even if there are thousands of bounty hunters on a project and they never invested their money, a project that will perform brilliantly will still do.
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April 12, 2020, 04:23:07 PM
 #12

How do we fail altcoins when many scammers are using the once best fund raising way to scam investors who are willing to invest good money on new projects? Investors aren't to be blame here pal, new projects have to show their worth today to gain investors mind

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April 12, 2020, 05:11:34 PM
 #13

Altcoin is a money making machine for ico owner. Which robs investors by ico. If we look at the entire altcoin market, we can see what a scam has already been. Most altcoin pump and dump have trapped traders. And many altcoin ico escaped with investors money. I lost all my bitcoin on the altcoin market i will never trade altcoin anymore. So those who have fallen into the trap of altcoin, now they only hold Bitcoin.

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April 12, 2020, 05:17:56 PM
 #14

everyone has a different mindset about Altcoin, and they have different goals about Altcoin. but one thing is certain of their purpose, which is to get a big profit when they decide to invest in Altcoin

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April 12, 2020, 05:21:45 PM
 #15

We can say there are people called bitcoin enthusiasts but for altcoin only we have investors so they are waiting for their opportunity to make money from that altcoins and dump all at once and forever but with bitcoin this is not the story.So most of the altcoins, lets say 99% are shits or scams that is why people lost trust and moving towards better and existing coins.

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April 12, 2020, 06:01:57 PM
 #16

everyone has a different mindset about Altcoin, and they have different goals about Altcoin.

Different mindset is the core reasons why, different sorts of individual participate in different altcoin crowd funding programs.

But i do not think there are different goals in investing in crypto currency. It just has to be about making profits
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April 12, 2020, 07:04:01 PM
 #17

I think there was also a moment when people started to realize bitcoin is something that needs to be recovered first in order to recover altcoins. So right now, there are tons of people who waits for bitcoin to be 20k in order to start focusing on altcoins, without bitcoin going higher they think there is no reason to focus on altcoins at all.

What we are missing out is the fact that bitcoin may need to increase and we all would love that however this has nothing to do with altcoins, altcoins themselves could increase without bitcoin increasing, we can all love any altcoin we want independent from bitcoin yet we are not really focusing on that. I may love ethereum without really caring about bitcoin, this doesn't change the fact that ethereum could increase while bitcoin stays same, THAT'S what we should focus.

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April 12, 2020, 07:39:04 PM
 #18

We should failed to become successful. if (Bitcoin) top coin price can dumped huge, what is the wrong in altcoins. But I'm sure some coin will be dead even won't be available recover anymore. Only out of top coin doesn't show any good sign as doing top coin. This correction was needed to cryptocurrency either scam project can easily success.

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April 12, 2020, 07:45:05 PM
 #19

No
What has happened is that altcoins were created due to greed by developers every project launches with millions of tokens without any utility. No utility what we do is speculate on price which crashes at will due to lack of base for the token. If few tokens exists, altcoins value will increase. Scam now everywhere because everyone wants to cash out quick.
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April 12, 2020, 08:44:43 PM
 #20

The reason people embark in investing in altcoins is because it requires little amount to acquire more tokens and huge profile in some cases.

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