Learn from a brother's mistake

[Strongkored]

What lesson could be learned from this?

If you are a altcoin investor, do not keep all your eggs in one basket, if you believe in an altcoin, make sure it's not the only one, in fact, the more coins you have in your portfolio the lesser the risk, because not all the coins will go bad or get hacked, if one out of 5 or 10 become successful, 6x to , 10x or more, you've made back your ROI and still have some gains.

Maybe this is true but not entirely true even though your portfolio is in many altcoins you can still experience losses that will never even reach the breakeven point because all of these coins do not provide commensurate profits.
It must always be remembered that altcoins are full of risks and are difficult to predict, even when we think the coins are good, they can actually be the most detrimental for investors, unless for the altcoins that has been round for long time, but for new projects everything is still gray, you will never know what will happen what happened might give you hundreds of times the profit but it could also end in sadness like what happened to your brother.

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[Hypnosis00]

It was a painful experience for your brother, I think that he had this experience early, and I think he will not repeat this mistake, which will be positive in the future. In a way, it might even be better to learn whether to trust altcoins that much or not to invest in this way, it is necessary to look at the full side.
 

It is a big mistake and regrets but I think, this will help his brother to open his eyes and don't be easy with the market.
Perhaps, investing in new projects without working products is too risky, we are just lucky if they will succeed because most of them had failed and gone carrying the money of their investors.

This is to imply the importance of having research and deep knowledge of the project before investing as this will give us an idea if this is worth investing or a possible scam.

[DanWalker]

I am not surprised, once we accept an investment in altcoins, especially new altcoins, we should determine that we could lose that investment at any time. Investing in altcoins is like gambling, you can win or lose, so always accept it no matter the outcome. Should not allocate too much capital to altcoins, should only choose 1 or 2 altcoins to invest, and should determine 99% of the amount invested in altcoins as losses, then our minds will be really comfortable.

[Shamm]

Feel sad for your brother and I think not only the two of you learn from this mistake and fore sure when you shared it here a lot of user will feel sad too. For me your brother thinking that when he invested into a new altcoin Then he can make a good profit and for me if I already made even 2 times of my capital then it's enough for me cause if we chasing for something more then there's a chance that we lost our all token.

[Jody.Drummer]

I am not surprised, once we accept an investment in altcoins, especially new altcoins, we should determine that we could lose that investment at any time. Investing in altcoins is like gambling, you can win or lose, so always accept it no matter the outcome. Should not allocate too much capital to altcoins, should only choose 1 or 2 altcoins to invest, and should determine 99% of the amount invested in altcoins as losses, then our minds will be really comfortable.

Yes, our money could be gone even in a matter of seconds. I don't deny that there are altcoins that provide multiple benefits in a short time, but those altcoins are hard to find now.
Many say when investing in altcoins "use the money we are prepared to lose" and it is true. How many people have experienced something similar, namely they lost money in a very short time and they didn't realize it.

[Coin Gorilla]

I had a couple of similar experiences myself, and the only thing you can do is learn from it, nothing more.

Once I managed to push through to get a portion back, but that was an edge-case scenario. From that point, moving forward, only go with "safe and sound" investments. Yeah, I know that nothing is "safe and sound," but some things are more obvious than others. If it's too good to be true, it mostly is. Cliche rule, but it came out of nowhere.

[ethereumhunter]

Maybe your brother hasn't gotten more information so he doesn't know if the project can fail in the middle of the road, not even reaching the ATH price like other projects. This is a valuable lesson and experience for your brothers and us, it's better not to invest too much in new projects and you should have more potential altcoins that can increase in the future.

Investing in altcoins is not bad but we really have to be able to choose the altcoins because we also don't know which altcoins will increase later. Maybe investing in the top altcoins can help us avoid scams from coins from new projects.

[Silberman]

A minute of silence for all Alliance Block investors...i have a brother who invested in this altcoin, hoping to hold till the next bull market, unfortunately the unexpected happened, now all the money is gone before he realized what's going on.

What lesson could be learned from this?

If you are a altcoin investor, do not keep all your eggs in one basket, if you believe in an altcoin, make sure it's not the only one, in fact, the more coins you have in your portfolio the lesser the risk, because not all the coins will go bad or get hacked, if one out of 5 or 10 become successful, 6x to , 10x or more, you've made back your ROI and still have some gains.

Also, I prefer projects from the Binance launch pad because binance don't just list any projects, 85% of all projects that used Binance launchpads are successful.

Alliance Block market cap is very low, projects with very low market cap are called degen by many and they are very risky, remember Gala games? It was hacked and all tokens were reimbursed, if Gala was a very small project I don't think they will do the reimbursement.

Not the worst advice I have read but not the best either, if you invest in 10 different projects 10% each, what are your chances that one of those projects will do a 10x so you can breakeven? Any number below 10% most likely means you will lose money, and I really believe the chances are below that as the number of altcoins in which you can invest is huge, while the number of altcoins which succeed is many times smaller, leading me to believe it is better to avoid altcoins, at least until the bull market finally comes.

[Odusko]

Altcoin investment is high risk investment and at that even though you diversify your portfolios you will still end up being hurt, because a fail in one can result into massive lose but it depend on how much you invest in them.
I don't buy altcoins but if i ever consider them in the future, i will buy only coins that i listed on at least 3 big exchanges have good trading volume over time, alot of people have lost capital is some altcoins right from wat back, and altcoins are not considered to be a secured investment but their are just gambling and anythi g can happen at anytime.
That is how bad the situation in the altcoin market is.

[dothebeats]

You just don't invest in a lot of different altcoins without researching them. Personally, I'd rather invest in one single, well-researched investment rather than diversify carelessly. What happened to your brother is unfortunate, but also a culmination of his lack of experience in choosing what altcoins to put money on and the seemingly solid fundamentals of the coin he invested on. Well, in investments you are really bound to lose some anyways, and perhaps tell him to charge this one to experience and just do better the next time.

[Adbitco]

Does it mean Binance exchange have not faced any hack before or does it mean is unhackable?
No mate, there is no centralized exchange that is 100 percent trusted or reliable. The area I agreed with you was on the side of not keep our funds in a particular altcoin and wallet, I will also like to say that people should try focused more on bitcoin rather than just altcoin. The more altcoin you hold the more complex it became because it could be very easy to loose your investment, during bear market most of altcoin couldn't make it back while some may try but lacking liquidity and got delisted from some well known exchange and that is their end.
So in summary, you must not wait for what happened to others to get you affected before you learn.
NB: Always Act Smart and Play Safe With Your Funds

[bhooscream]

A minute of silence for all Alliance Block investors...i have a brother who invested in this altcoin, hoping to hold till the next bull market, unfortunately the unexpected happened, now all the money is gone before he realized what's going on.

What lesson could be learned from this?

The first reason is"
Never invest in altcoins for a long term investment. Because this will be too risky and I cannot afford it. Although many people say that this project or other altcoins are very promising I personally will not take altcoins for the long term. I will only take it for trading. or, I will use it for the short term and I must analyze the best time to buy and then sell once the price rising up. Because we have seen so many times that altcoins cannot survive and will not do as they promised because many will fail before the bullish era. Learning can be from anyone and this is really a worthy experience.

[ultrloa]

To hard to believe about getting a big profit for holding a new altcoin in the market since most of the time this tokens got only few months then die in circulation so its really bad idea for your brother to take that decision to hold since he waste his money for that action. Maybe other could see this as worse decision to be done and take profit once the project is newly built but if you are still interested on their technology then better give some time for the project owner to show how they deliver before you trust your funds back again.

[SirLancelot]

It was a painful experience for your brother, I think that he had this experience early, and I think he will not repeat this mistake, which will be positive in the future. In a way, it might even be better to learn whether to trust altcoins that much or not to invest in this way, it is necessary to look at the full side.

It is a big mistake and regrets but I think, this will help his brother to open his eyes and don't be easy with the market.
Perhaps, investing in new projects without working products is too risky, we are just lucky if they will succeed because most of them had failed and gone carrying the money of their investors.

This is to imply the importance of having research and deep knowledge of the project before investing as this will give us an idea if this is worth investing or a possible scam.

If it was his first then there are still chances that he can repeat the same mistakes again even though the mistake that he get recently is not small but he should try to avoid it as much as possible or use only a small amount this time so that the impact will only get lesser in case he failed again. Projects without a utility never succeeds.

The pump that they can possibly get is only artificial and it was created to manipulate investors, so never mistaken it as a success when it will just disappear later on. Many people are afraid to do a research because they are a newbie but they end up relying on someone else and they can fall on the wrong people or place but If only they seek advice here in the forum then it would have been better.

[bittick]

everyone investing in altcoins should really know what is proper management risk, it's exist and massively used for big fund companies definitely because it is proven to be efficient strategies.
the thing with many that invests in altcoin is that they just throw away their money without risk management, and hoping miracle to occurs and somehow turns their investments around and make it becomes millions but that's just wishful thinking, you should refrain from investing without proper strategy.

[GreatArkansas]

If you are a altcoin investor, do not keep all your eggs in one basket, if you believe in an altcoin, make sure it's not the only one, in fact, the more coins you have in your portfolio the lesser the risk, because not all the coins will go bad or get hacked, if one out of 5 or 10 become successful, 6x to , 10x or more, you've made back your ROI and still have some gains.
(.....)

Another lesson if you hold altcoins especially new altcoins or hyped altcoins is always take profit or set a goal of what price is your target.
Don't marry your altcoins because the market is not always bull or up only, there are already a lot of market cycles from the past, cryptocurrency or non-cryptocurrency market, it's already given, it's not "up only" always.

[gunhell16]

A minute of silence for all Alliance Block investors...i have a brother who invested in this altcoin, hoping to hold till the next bull market, unfortunately the unexpected happened, now all the money is gone before he realized what's going on.

What lesson could be learned from this?

If you are a altcoin investor, do not keep all your eggs in one basket, if you believe in an altcoin, make sure it's not the only one, in fact, the more coins you have in your portfolio the lesser the risk, because not all the coins will go bad or get hacked, if one out of 5 or 10 become successful, 6x to , 10x or more, you've made back your ROI and still have some gains.

Also, I prefer projects from the Binance launch pad because binance don't just list any projects, 85% of all projects that used Binance launchpads are successful.

Alliance Block market cap is very low, projects with very low market cap are called degen by many and they are very risky, remember Gala games? It was hacked and all tokens were reimbursed, if Gala was a very small project I don't think they will do the reimbursement.

If bitcoin has an attached risk, especially in altcoins, the risk is higher. Although like others I am also not familiar with the alliance block protocol, I just saw on google that it is a platform where you can stake and so on. But he hasn't been loud in the crypto space, which means he's not liked by the majority of crypto enthusiasts in this industry.

So these types of investments should be thought of 100x times especially if you are going to put a large amount of money into it. Because based on your statement, it seems that the money entered into their platform has not been returned.

[Wexnident]

That's just how it goes in investing in altcoin markets. It's like a market of new projects and is close to a lottery at some sense, with only the basic info they present to you being the only available information you can use to judge their projects. Wouldn't call the investment wrong or anything, I mean this is something natural when investing, we all make mistakes constantly about it, but I do agree with putting everything in one basket. Well, if his budget was that low then I reckon that it was an inevitable move though.

[isaac_clarke22]

~

This is the first time I heard of that coin, Alliance Block, but the experience of your "brother" is quite similar to what I experienced back in 2017-2018 when I was still trying to aim for cheaper coins just like what you usually see in ICO projects. Waited for bull market, but then it went unexpectedly worse than I thought and what's even worse is that I tried day trading at that time which was also a bad call for me.

What's the play? Welp, try to avoid altcoins if you can buy Bitcoin anyway.

@OP Since the market cap was so low, that should have been already an indicator for your brother to get his funds out as soon as possible

[pawanjain]

Many people experience this at least once in their crypto journey. Investing in new projects is risky.
We have to really make sure we have done enough analysis on the project we are going to invest in.
This is the first time I have heard about this project. Whichever project I put my money in, I make sure it has a good team of developers and a great support from the community.
Their founders play an important role too and so its absolutely required that the background of the founders should be clean. Only then I invest in such a project.