What will you do in this case?

[Outhue]

A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?

Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .

What will you do in this case?

[examplens]

Since we are only at the beginning of the bear market and based on previous experience, many altcoins will not survive this period or will be minor after that. Every entry into an altcoin project is most often due to the expectation of high income, and for all those who did not manage to realize themselves in the bull market fully, it will be challenging to do so at a time when interest is declining.
I would say that it is a very high risk with a much smaller potential for significant growth.

all new investors should first keep in mind that the current price of bitcoin is very low. There is no guarantee of what will happen and in what period, but it certainly carries much less risk.

[Apocollapse]

Just recommend them straight away to sell all of their shitcoins and buy Bitcoin, make sure they hold it on hardware wallet. After they do this, nothing should be worried since Bitcoin is the best coin to invest during bear market and the coin wouldn't get hacked due to decentralized and high security. Unlike those shitcoins there's will be a whales who own most of the coins, in Bitcoin there's no whales that can control 50% of Bitcoin supply. Mostly address that contain high number of Bitcoin is centralized exchange hot wallet.

[aysg76]

I know about Mina protocol and their aim to keep lightweight blockchain technology and they have raised around $92M in funding from FTX,3AC and other venture firms this year but if you are worried about your investment in them then you should avoid holding the coins.

The FTX crash has deserted many projects as they were funding to lot of them and if you see MINA token then it also crashed badly with all the red lines on CMC and there is 3-4% rise now but for long term aslo I don't see any much profitability to them because of the security issues and network not being safe.So in my opinion if your friend sell at this time and invest in bitcoin for long term he would have good returns instead of dead tokens in his wallets.

[Zaguru12]

My biggest problem with altcoins is the way it is been influenced by rich investors who holds more than half of this coins. Once they see to pull the plug off it affects the minor investors. Looking at these coins you mentioned they aren't even top 10 of Altcoins so I would say I it will be hard to pull up after this bear. It takes a genuine coin like bitcoin to bounce back from such period. So just like the others suggested, the person should just switch over to bitcoin. And if he wishes to still have some Altcoins he should rather stay with the top 5 but bitcoin stays the best option for store of value

[tranthidung]

A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?

The bear market is not over and it's not smart to buy altcoins in middle of bear market.

Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved?

FTX and Alameda are not gods so it's funny to see people believed about those entities a lot in the past two years. Same goes to Venture Capitals VCs which got a lot of belief and capital from retail investors. Those people invested without research and they spent money by following VCs.

What will you do in this case?

Bitcoin first
Ethereum and BNB will be my next considerations but I will buy these altcoins after Bitcoin.

Reason is Bitcoin is a market leader and it will start a new bull run first. Ethereum will follow Bitcoin and BNB should be next altcoin to follow Bitcoin and Ethereum.

[traderethereum]

If the loss is not too big, he can sell it and replace it with another altcoin.
But if he was too scared to see his losses and the price had plummeted too much right now, he could also sell it before things got any worse.
But before he does, he needs to check with the project team for updates on the project so he has some idea of what to do.
This is a dilemma, especially if he has spent a lot of money to invest in the project but everything has happened and maybe saving his capital is most important.

[masulum]

This is a hard thing to say. I've experienced the same thing. Friends ask for advice whether to sell or hold. I will not answer directly. However, I would ask him to research before deciding.

In this case, it's a good idea to ask your friend to do some research and weigh the potential and downsides. For example, if it is found that Alameda & FTX are the top investors, then he/she should be selling it. With the consideration if the price rises, both of them will do a dump by selling all the tokens they hold and later this token has no value.

However, if they only support not making large investments, tell him/her to look at the long term potential, how the project is performing so far. Compatibility of performance with roadmap and other factors. If everything is fulfilled, your friend can hold.

But, as @examplens said, when the bearish comes, most new projects will hard to survive. so, tell to your friends to take a consideration to sell, if the loss is not more than 30%, to sell gradually and look for other options that are more convincing for him and ask your friends to do more research about current progress of this project.

Note: NFA

[janggernaut]

Since we are only at the beginning of the bear market and based on previous experience, many altcoins will not survive this period or will be minor after that.

We have been on bear market since months ago, now we are either on capitulation or anger stage. History repeat itself, the lowest of btc price is around the corner, just like 4 years ago.

The bear market is not over and it's not smart to buy altcoins in middle of bear market.

Yeah and that's why a lot of people can't become rich from that. 99% people are too afraid to buy coins during bear market, while bear market is the best time to accumulate and become rich later

[jossiel]

I'll sell all of those and will buy bitcoin instead. Too much already with altcoins and that is why it has to change and that's through owning and buying bitcoin.

Just to be sure with the decision because we all know what bitcoin is and it is unlikely to fail just as the concern with connection to FtX and Alameda.

[shinratensei_]

A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?

Just let him to go to the exchange site that was supporting both of tokens. Minaa already listed on binance and Fuel was on gate io without any volume. FTX and Alameda may have huge stack but i think that the impact from alameda will not be last forever. If he favor to sell his tokens and then just let him to do that.

Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .

It's a good idea and why not? the problem is the price of both already dumped so hard and the question is will he accept the truth to sell his token in a big lose?

What will you do in this case?

As long as i do believe i can recover my money through invest in another token with better potential and i may try to sell that.

[Ayers]

A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?

Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .

What will you do in this case?

Both are low-cap projects, in case both of these projects do not have the investment of FTX and Alameda, I still advise him to sell, even though it will make him lose, it is better than losing everything. But I would not advise him to sell these two altcoins and buy another two I would recommend he invest all that money in bitcoin to ensure his safety as well as the ability to recover the losses Mina and Fuel inflicted on him. Given what happened with FTX, we should stay away from altcoins as far as possible.

[zasad@]

A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?

Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .

What will you do in this case?

Has your friend studied the tokenomics of projects and the schedule for distributing tokens from investors? Does he know the schedule for unlocking these tokens from Alameda or FTX? Or does he want other people to do analytics for him for free?
If it's a small amount, like a few thousand dollars, then I wouldn't do anything. If the amount is greater, then you need to analyze these assets.

[uneng]

A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?

Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .

What will you do in this case?

Every projects attached to FTX and Alameda must be avoided. We have been watching every big crypto scam scheme collapsing other scam schemes connected to each other, increasing the possibility the tokens you mentioned are also going to be impacted negatively by FTX's influence. We are living uncertain times, and in moments like this the best you can do is to avoid altcoins and focus on bitcoin to mitigate risk.

[pawanjain]

A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?

Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .

What will you do in this case?

We don't know what's gonna be the fate of coins whose investors are Alameda and FTX which is why we should decrease the risk by selling those coins and buying other potential altcoins.
If your friend still believes in the tech he has two options. Either he can buy more to average the price or cut the losses by selling all the coins.
If he is interested in the tech he can buy those coins back when the bull market starts or when things are better for those coins.

[abel1337]

I don't have any idea about the coin that the newbie is holding but one thing is for sure, Don't catch falling knives. I will instantly suggest to just sell those and just buy bitcoin or other top coins. We are on a bear market and it's common that weak altcoin is doomed to fall and given that it is connected to Alameda and FTX which also has a bad reputation today, I assume that there's a high chance that those coins the newbie is holding will not last long until it's value drop at a significant price that he can't sell it. Again I don't have any idea about those coins but given the scenario we have today, It would be better to just hold bitcoin and other strong coins knowing that he is a newbie and don't have a necessary experience on crypto to survive.

[o48o]

A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?

Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .

What will you do in this case?

Well i am not sure how much they sold as collateral, but selling time was while ago i think, if something else doesn't get revealed i think they might have hit the bottom. Mina was already started to pump before all this chaos began, so it wants to go up already. Now it will take more time and no one knows how long is that going to be. Risk how ever is big, but so it's with everything when you try to catch a bottom.

Since we are only at the beginning of the bear market and based on previous experience, many altcoins will not survive this period or will be minor after that. Every entry into an altcoin project is most often due to the expectation of high income, and for all those who did not manage to realize themselves in the bull market fully, it will be challenging to do so at a time when interest is declining.
I would say that it is a very high risk with a much smaller potential for significant growth.

all new investors should first keep in mind that the current price of bitcoin is very low. There is no guarantee of what will happen and in what period, but it certainly carries much less risk.

Beginning? Bear market started year ago and that's how long altcoin total marketcap took last time to hit the bottom. I am not saying that this time it would happen exactly same way but i would totally disagree that we are in the beginning.

[coin-investor]

A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?

Why replace it with other altcoins, look at the price of Bitcoin it's cheap right now, dump these altcoins and buy Bitcoin, altcoins come and go but Bitcoin always bounces back, since FTX and Alameda are two of its biggest investors expect a dump to happen, there's always a domino effect when a project shutdown, all of his associates and projects that involved on it will also suffer.

The two altcoins you mentioned are still doing good but for how long when the investigation goes deep expect bad things to happen, they will liquidate and the price will crash, so you have to take action when you have the time

[ethereumhunter]

You can return the question to your friend. After all, as a beginner, why would he choose a fledgling project over bitcoin or other potential altcoins? And for that, I can only advise him to sell his tokens and move to bitcoin and not touch altcoins for a while. By investing in bitcoin, he can at least hope to see his investment's value increase in the future. And this will keep him from worrying because if an altcoin goes down, the price can drop drastically. But everything will return to your friend and let him decide what is best for him.

[so98nn]

I would ask them to convert everything into bitcoin or stablecoin for time being. Though the name of every asset which is in contact with FTX has been painted red one can still trust the Altcoins which were involved directly but to the extent where we believe they still have the powerful project idea behind them. Not all of them gonna be success. Some of them actually find such incidences as exit scam strategy! Better watch your investment carefully. This is why better choose bitcoin straight away and keep up with the market. Also let them also decide, try to be direction giver but ask them to decide themselves. No one is right in this market.