Has Crypto Lost Its Way?

[crwth]

Many things have happened in the cryptocurrency space, and it is and should always be the decision-maker's responsibility if he invests in something that could cause losses or profits. I don’t think crypto has its own way, but it is dependent on how people use it. I believe they are for the profits, and I think it has always been like that.

What should be the ideal way, then?

[Abiky]

Yes, it is easier for the scam to happen with NFT projects that were initially based only on hype and then abandoned.
The success of NFTs is also due to the artists who made them so that their marketability will be better and investors will believe that it will last for the long term,
but that will not guarantee either.

A 12-year-old boy, Benjamin Ahmet, created an NFT that made him millions of dollars easily.
this became a craze when NFT hype, but now all NFTs are on the decline and some are abandoned.

https://nftnow.com/features/meet-the-12-year-old-coder-whose-nfts-earned-him-more-than-5-million/

NFTs were always garbage. I mean, what use cases do they have? Most of the so-called digital art are simply copies of JPEGs obtained from the web. The ones winning were creators, while buyers ended up losing big time. Especially after NFT creators decided to "pull the plug". The main issue was that NFT content (data) was stored on centralized servers. Blockchains only served as proof of ownership for an specific NFT. They didn't store the data itself.

Without immutability, your NFT collections won't survive for generations. There are already solutions for this (Arweave and IPFS), but developers/creators haven't used them yet. We can say "meme" coins have taken the same path as NFTs, as they end up being abandoned by the devs after the hype ends. The crypto industry is more speculative than it was in its early days. Don't expect things to improve in the future, though. The days of quality-oriented crypto projects are over (except for Bitcoin and Ethereum). Why would anyone take the revolution seriously?

[JellyJ]

In every neophytic technology, there are bound to be distractions and contaminations. Crypto is no different.
Malicious characters have infiltrated the space, so what can we do?

[betswift]

Many things have happened in the cryptocurrency space, and it is and should always be the decision-maker's responsibility if he invests in something that could cause losses or profits. I don’t think crypto has its own way, but it is dependent on how people use it. I believe they are for the profits, and I think it has always been like that.

What should be the ideal way, then?

As you said, everybody decides for themselves.
Some seek innovation and knowledge, some seek it for the profits at hand, some - just the profits, and they end up in bad situations sometimes due to the lack of experience or the temptation of profits at hand (without looking at risks at stake).
I can't really say what would be the ideal way, but I would say that we should all strive to become more knowledgable first and foremost going forward.

[Abiky]

As you said, everybody decides for themselves.
Some seek innovation and knowledge, some seek it for the profits at hand, some - just the profits, and they end up in bad situations sometimes due to the lack of experience or the temptation of profits at hand (without looking at risks at stake).
I can't really say what would be the ideal way, but I would say that we should all strive to become more knowledgable first and foremost going forward.

Crypto is free (as in liberty) and open to anyone. What path will it take, depends entirely on yourself. People are the ones who decide. Not governments, nor greedy corporations. These entities are trying to control BTC by accumulating a large portion of its circulating supply. But they will ultimately fail. As long as miners and network nodes don't get compromised in the long run, there should be nothing to worry about.

I'm talking about Bitcoin, of course. For altcoins, that's another story. Especially those with a PoS consensus mechanism. Around 90% of alts are centralized due to the way they're designed. Everything should be fine as long as we have one truly-decentralized cryptocurrency. The future is unpredictable, so lets hope for the best.

[CK485]

Many things have happened in the cryptocurrency space, and it is and should always be the decision-maker's responsibility if he invests in something that could cause losses or profits. I don’t think crypto has its own way, but it is dependent on how people use it. I believe they are for the profits, and I think it has always been like that.

What should be the ideal way, then?

from the way crypto currency and us in managing everything can happen, depending on our attitude about everything and the trust that we build in crypto itself, because trust is much more important by looking at all sides before we enter crypto further and that is among them.

[ethereumhunter]

The time will come, you are right.
We should strive to find more projects with real utility that will be rewarded with funding and good investors, rather than just going for the hype, though.
Patience is key, and analysis too.

if you want to find more projects, you must be careful because not many projects will survive and stay at the market. But the important thing from that is how you can manage your money that you will use to invest in that projects. We don't know which project that can increase in the future so we must be careful to allocate our money for the investment. Altcoin will still trying to have its time to increase and even we don't know when the altcoin season will comes, we can prepare ourselves for the coming. Patience is the key and that is right because that will help us to stand in the hard situation.

Yes, and that is everyone's hope, waiting for a bigger crypto resurgence and being able to make new history.
Now just fill your bag full and get ready for the next bull market, Don't waste the opportunity to buy Bitcoin and altcoins that are still cheap.
all will reach a new ATH in time.

It is worth if we still waiting for the next rise of the altcoin season or the bull run as we already invests in some project so we can use our time to add more amount for every investment we have or we can just waiting for the time coming. I already bought some altcoin but my focus is still Bitcoin so with DCA method that I know, that really help me to accumulating more Bitcoin until I see the bull run to sell my Bitcoin.

Considering Bitcoin price is low, we can buy Bitcoin now and we may have a chance to buy Bitcoin in the lower price because Bitcoin will get correction many times. That is why allocating our money is necessary so we can buy at the right time.

[Oshio-man]

No, crypto is getting better and interesting every new day because it pump and dump for people to use the two opportunity to earn income, you can flash back to know where the crypto started in the long run, where crypto has gotten to in the world, you will agree with me that crypto has not lose value now, and if you want to buy and hold crypto, I guess the opportunity is there for you because you don't need to pass through third party before you can have your crypto in your portfolio.

[CoinFoxs]

Many things have happened in the cryptocurrency space, and it is and should always be the decision-maker's responsibility if he invests in something that could cause losses or profits. I don’t think crypto has its own way, but it is dependent on how people use it. I believe they are for the profits, and I think it has always been like that.

What should be the ideal way, then?

from the way crypto currency and us in managing everything can happen, depending on our attitude about everything and the trust that we build in crypto itself, because trust is much more important by looking at all sides before we enter crypto further and that is among them.

Crypto is doing better in my opinion if you look at other businesses every market is down and people facing huge loss and waiting to recover their investments but in crypto investors are earning good profits who are doing market analysis before investing so by market analysis you can still earn good profit. Don’t go for memecoins in this market condition only invest in top 20’coins they will give you handsome profit in 2-3 months.

[tygeade]

What do you think? Are we ready to steer the crypto ship back on course and focus on long-term stability and freedom? Would love to hear your thoughts about this!

Just because there are now people who are looking for bigger stuff, doesn't mean that we are dealing with something that takes time, we should not be worried about it and we should be doing something that takes a bit of time.

We need to consider this as normal and we shouldn't really be worried about it at all. I know that it is not going to be something that makes any sense at all, but if we keep trusting ourselves into stuff that makes no sense, we shouldn't really be worried at all. I get that the group of people who wants to make a lot of money and quickly are there now, but that is not really that crazy, it should be considered as something normal and we should feel fine about it, don't worry, they are not going to hurt the market.

[alastantiger]

Crypto is doing better in my opinion if you look at other businesses every market is down and people facing huge loss and waiting to recover their investments but in crypto investors are earning good profits who are doing market analysis before investing so by market analysis you can still earn good profit. Don’t go for memecoins in this market condition only invest in top 20’coins they will give you handsome profit in 2-3 months.

Cryptocurrency is also not doing well and not just other businesses. Businesses aren't doing well, all time sells are dropping and people aren't buying things they way they use to do. The inflation is increasing and people are losing their job hence they don't have money to use in buying things as they used to do and not investing in crypto that much again. The people investing in cryptocurrency now are institutions, they're using their large money to buy Bitcoin and other altcoins, they're the ones going to benefit the most from the bull market because they're buying Bitcoin consistently. Cryptocurrency hasn't lost its ways but the market is getting distracted with many memecoin that are getting created from nowhere and all they have to do is to launch a tapping airdrops for them to gain millions of new followers and they use that population to get listed on top exchange before they launched hence valuing their tokens high.