Being realistic and open-minded about altcoins can help you succeed!

[MarathonA]

You will see some people here at bitcointalk.org who loudly claim "All altcoins are a scam!", "None of them are decentralized like Bitcoin" (that one I saw today it's BS), etc. Some important things simply cannot be done with Bitcoin alone. Being realistic and open-minded about altcoins can help you succeed; Quoted here is something I wrote in another thread a while back:

Altcoins can be traded with Bitcoin in an attempt to earn more crypto. You are in an exchange market competition against other traders where a small % of skilled traders win long term and most other people lose. This exciting competition helps identify the rare altcoins with long-term value and utility based on unique features which Bitcoin lacks. People who hate all altcoins frequently have a blind rage which is similar to racism against other humans, since they fail to see some things cannot be done with Bitcoin alone.

Enjoy your time at this forum, and remember not all newbies are "fresh new scammers", and not all new projects are garbage.
ps. If an established member is rude - or treats you badly - just because you're new, consider reporting their post to a mod, don't assume you deserve to be treated that way.  

[obuoma]

This post in the Beginner & Help board will do more harm than good. The reason is that 99% of altcoins are usually fails and lead to losses and the data is public, so encouraging beginners to even think about altcoins wether by investment or trading, is suicidal. Beginners will do far better if they focus in investing into Bitcoin mainly for a start and holding for at least five to ten years and avoiding trading completely.

[ColdLava40]

Altcoins can be traded with Bitcoin in an attempt to earn more crypto. You are in an exchange market competition against other traders where a small % of skilled traders win long term and most other people lose. This exciting competition helps identify the rare altcoins with long-term value and utility based on unique features which Bitcoin lacks. People who hate all altcoins frequently have a blind rage which is similar to racism against other humans, since they fail to see some things cannot be done with Bitcoin alone.

Apart from the top altcoins we know, can you point out on which is reliable on a long term?

When forum members share their opinions on altcoins, some do not do it out of hatred. The must had experience with different fake projects in the past that turned to be a scam.

I know we all have our opinions, and you do not need to apply everything that is said on this forum to your investment you can take caution with the hints that was shared from top ranked members. Scammers cannot be spotted easily and that is why the forum try to point out a few.

[Dr.Bitcoin_Strange]

You could say "being open minded about altcoins might help some person succeed" Emphasis should be layed on the word "Might" because these same altcoins has ruined a lot of people, it has done them more bad than good. So, people should be more careful with altcoins, don't risk the amount you can not afford to lose. You probably were lucky with 1, 2 or few coins and so you believe everyone can be that lucky right? It doesn't work like that but if you don't understand it now, you will do so later.

Currently, there's a saga going on about a popular African crypto trader who collected money from 100s of people and added them to a telegram group which he said was a VIP group, in that group, he gave them list of altcoins to invest on and he assured them that those coins will change their life in few years. Currently, the guy is being dragged online because majority of those coins has been delisted from the exchange it was listed and some are valueless.

[aioc]

Being realistic and open-minded about altcoins can help you succeed;

There are many instances where you can make good profit from altcoins. When you say altcoins, these are altcoins that made a mark in the industry, like Ethereum or Solana; not shitcoins. You have to differentiate first between good altcoins and shitcoins; this is being realistic and open-minded.
Sure, you can succeed from altcoins provided you know how to spot good altcoins from bad altcoins, and it's not easy because scammer are good at pretending that their altcoins are good altcoins to invest in.

[Accardo]

Currently, there's a saga going on about a popular African crypto trader who collected money from 100s of people and added them to a telegram group which he said was a VIP group, in that group, he gave them list of altcoins to invest on and he assured them that those coins will change their life in few years. Currently, the guy is being dragged online because majority of those coins has been delisted from the exchange it was listed and some are valueless.

Brand new altcoins are a big threat, there're some nice alts in the market, the negative reviews around such crypto projects, revolves from its ability to permeate the market with numerous scam complaints, which has not just affected the market's growth, by scaring people away, it drops worldwide credibility of other genuine projects in the market, thereby hurting market growth, and collapsing promising projects due to low investment.

[coin-investor]

Being realistic and open-minded about altcoins can help you succeed!

But it can also cost you money; being realistic and open-minded is not enough; you have to be educated and know how to differentiate what altcoins are worth putting in your portfolio and what altcoins should be ignored.
Not all altcoins are the same; behind every altcoin are developers with their own motives or agendas for creating it. Check the motives, and you'll know if it deserves to be in your portfolio.

[Ojima-ojo]

As much as altcoins increases cryptocurrency scalability and increase adoption, only th top coins are already enough for the entire cryptocurrency ecosystem.


The problem come when you see, tons of altcoins popping up each and every day, messing up with the entire market and giving the newbies bad experience, trading or investment in altcoins should be done with extreme caution as always.

[o48o]

You will see some people here at bitcointalk.org who loudly claim "All altcoins are a scam!", "None of them are decentralized like Bitcoin" (that one I saw today it's BS), etc. Some important things simply cannot be done with Bitcoin alone. Being realistic and open-minded about altcoins can help you succeed; Quoted here is something I wrote in another thread a while back:

Altcoins can be traded with Bitcoin in an attempt to earn more crypto. You are in an exchange market competition against other traders where a small % of skilled traders win long term and most other people lose. This exciting competition helps identify the rare altcoins with long-term value and utility based on unique features which Bitcoin lacks. People who hate all altcoins frequently have a blind rage which is similar to racism against other humans, since they fail to see some things cannot be done with Bitcoin alone.

Enjoy your time at this forum, and remember not all newbies are "fresh new scammers", and not all new projects are garbage.
ps. If an established member is rude - or treats you badly - just because you're new, consider reporting their post to a mod, don't assume you deserve to be treated that way.  

"Not all altcoins are garbage" should be pretty easy stand to defend but somehow you manage to fail that.

If you start with vague comments like that, maybe you should elaborate. When you are talking about "some important things", that one can't do with bitcoin, i assumed that you would back that up with something, but instead you chose to say that you can trade them against bitcoin to make more cryptos. You can do that with garbage. In fact garbage is what made me most of the gains. So that's a pretty poor way to identify anything.

I totally understand that you are new, and these things are new to you, and there's nothing wrong with that. But what got under my skin was your comparison of racism to crypto-bro tribalism. That's just poor taste and shows lack of self reflection. If you think me pointing that out was rude, then you are part of the problem.

[passwordnow]

Not everyone is new and we know that not everyone who's a newbie, is a newbie in real life. As for the altcoins, most of them are not good this time because of the bear market. Just be careful where you invest your money because you might fall to the wrong ones. I hold some altcoins, many of them are in losses and I don't know for how long I need to hold it just to remember. Instead of finding the next hidden gem, I'm putting my spare and the focus of my DCA into Bitcoin.

[Jostern]

Well I don’t really know what you’re talking about, everyone have their choices and decisions, and there is nothing anyone can do about that, because you can’t convince them otherwise, people have so many different experiences with altcoins, which means not everyone is going to have a good mindset with investing there money on memecoins, because they have had a terrible experience with altcoins, and they could not recover from it because it all seems like a cancer, something that some people are trying to avoid investing money in memecoin.

[Dr.Bitcoin_Strange]

Currently, there's a saga going on about a popular African crypto trader who collected money from 100s of people and added them to a telegram group which he said was a VIP group, in that group, he gave them list of altcoins to invest on and he assured them that those coins will change their life in few years. Currently, the guy is being dragged online because majority of those coins has been delisted from the exchange it was listed and some are valueless.

Brand new altcoins are a big threat, there're some nice alts in the market, the negative reviews around such crypto projects, revolves from its ability to permeate the market with numerous scam complaints, which has not just affected the market's growth, by scaring people away, it drops worldwide credibility of other genuine projects in the market, thereby hurting market growth, and collapsing promising projects due to low investment.

Some other altcoins were never brand new but they still disappointed investors and only caused them to lose their hard earned money even though in some rare cases the project teams still tried to give encouragement words but it never helped investors to gain back their money, over the years, since I got into crypto, I have seen 100s of tokens come and go. If I want to invest in altcoins, I could actually pick BNB, Sol, ETH and coins like that but it will be hard to me to recommend altcoins for anyone, let the person do a due diligence and pick tokens on their own.

[Accardo]

Some other altcoins were never brand new but they still disappointed investors and only caused them to lose their hard earned money even though in some rare cases the project teams still tried to give encouragement words but it never helped investors to gain back their money, over the years, since I got into crypto, I have seen 100s of tokens come and go. If I want to invest in altcoins, I could actually pick BNB, Sol, ETH and coins like that but it will be hard to me to recommend altcoins for anyone, let the person do a due diligence and pick tokens on their own.

Established aged alts do not attract investor who think they've missed the early selling days, buyers prefer the alts that is selling for less than a few cents, so that they could accumulate a lot of the coin hoping for huge profits in the nearest future. Looking at that reaction on strong, reliable alts, the dubious developers use this factors to shill unrealistic alts like the example you gave, and move away with investor's money.

[Orpichukwu]

This post in the Beginner & Help board will do more harm than good. The reason is that 99% of altcoins are usually fails and lead to losses and the data is public, so encouraging beginners to even think about altcoins wether by investment or trading, is suicidal. Beginners will do far better if they focus in investing into Bitcoin mainly for a start and holding for at least five to ten years and avoiding trading completely.

Altcoins are with heavy risk, but people should not be called out for just choosing to invest in altcoins as if they are making one grave mistake. The warning for altcoin choices can’t be overemphasised, but we should still respect the choices of the people.

Here is a Bitcoin forum; I get that, and people are more for Bitcoin support, and I can say most are biased, but if we are to be honest, there are some altcoins which are worth given a try. Even in terms of privacy and decentralisation, we also have altcoins which fit in on those categories.

[TastyChillySauce00]

I don't think being skeptic about altcoin is the wrong way to go. Being realistic and open-minded is good but you need to realize that 98% of altcoins are going to zero. I've traded and invested into altcoin for quite sometime, but I acknowledge the real fact that most altcoins are VC garbage who'd dump on you whenever they get the chance.

The good altcoins are limited and if you're not skeptic you will run out of your money before you ever find the hidden gem. Beginners aren't advised to invest in altcoins because they haven't learned how to differentiate good coin and altcoin.

[retreat]

The reality is that 99% of altcoins are scams, only a handful have actually survived to this day. So people who are skeptical of altcoins aren't wrong either, because what they're saying is a fact. You might say that people who are skeptical of bitcoin are "closed minded" but because of that, they've avoided losing their money on new projects, most of which are scams.