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Cryptocurrency discussions / Re: Too many altcoins!
« on: December 16, 2019, 08:40:56 PM »
Nothing you can do about it, many would still die off as time goes on. It's the natural cause of events. The strongest(most useful) survives
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I participated in bounties during the crazy crypto winters. Some ICOs worked. Some didn't. You can never guess which. I nearly gave up, but didn't. And im glad I didntRecently, not only people with less experiences, experienced bounty hunters also begin to quit from bounty activities. I know very well the big reasons why they quit. That's why I think they cannot be blamed by the action. Let's see below the reasons.
Here are the most reasons:
1. A lot of bounty programs only resulted with pennies.
2. Many scam ICOs, resulting no rewards for bounty hunters.
3. Many bounty managers / teams of bounty projects changed the rules after bounties were over. They asked for KYC and lessen the bounty allocation significantly.
4. Bounty tokens/coins have no prices once listed on exchanges.
5. Bear market still continues and no big signs to have bullrun in the near future.
I also consider and think deeply about those problems, but I am still confidence to work on bounty programs as long as there is a hope for a better crypto future.
- How about you, mate? What do you think about their action?
Well all the reason you stated are legit. Its only a bounty hunter that has immuned himself/herself to all these factors that will not quit.
Good point here. Crypto adoption is in its early days, and may not replace fiat for payment. However, if crypto makes a conscious effort in cleaning up its acts, then it stands a chance of being adopted gradually by the populaceIs it a good idea to shift to cryptocurrencies for payments? Are we here yet? I have read many articles saying that the future is of digital currencies and we should be using cryptocurrencies instead of cash. But how feasible it actually is? And if so, what are our options of cryptocurrencies that can replace cash?Firstly, cryptocurrency can never replace traditional national money, it is simply not capable of this.
Secondly, cryptocurrency has not yet become a common means of payment, and there are many reasons for this. However, at the same time, a lot of stable coins are being created now, which, not being a full-fledged cryptocurrency, can become a serious competitor for it as a means of payment. Therefore, there is a threat that a decentralized cryptocurrency may not take its rightful place as a means of payment. What will happen next - we'll see.
Some altcoins moon in days with more than 100%. I remember when I bought Capp tokens. It mooned so much had close to 200% ROI before the price tanked. Same with Hydro. Though I got it via a dev airdropPersonally, I have rather large investments in several top currencies, because I believe that in the future the price will rise, and then I will make a lot of money.Now, if you will make investments, it’s only for a long time, because we have been waiting for the growth of altcoins for 2 years and we may have to wait at least 2 more years until the growth of altcoins will begin, so you need to seriously think about this before investing.
Nothing to do, investors are aware already about the bad trend in ICOs. You can see the lack of interest from investors on ICOs. They move to IEOs that can provide better solutions and more secure for them. In this way, I think ICOs may be disappeared someday.Even IEOs are doomed.
There are numerous factors that count for the death of crypto projects on the market. One of the causes maybe as a result of the idea and product behind the project. If the product of the project is not in demand, the project is likely to fail. One of the commonest cause of the death of crypto projects stem from the fact that they lack strong and supportive community. Remember, the community serves as the fuel that power the crypto project on the market.Good points. However, you could have a good MVP with demand, but if your team and/devs are a lazy and irresponsible bunch, then the product is doomed, irrespective of how good it is