Does anyone buy obscure altcoins?

#1

Do you think it makes sense to buy low-liquid altcoins?

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#2

no…but I’ve mined some I’m still sitting on for no particular reason I can fathom except the 1 in 100 chance that they pump and I sold them for the dust they are now worth. :frowning:

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#3

No, it’s a trap

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#4

for the most part yes…thou…I had a buddy sitting on, I think it was, verge…or something back with the pump…and woke up one day with 1/2 million which he dumped and paid taxes on …asap…and of course
the price dumped so he was wise to do so…

thus, the few altcoins, besides LTC, I have sitting about with a 1 in 100 chance of pumping I have gathered thru mining…but it can happen…was more common with ICO’s (when allowed in USA…i scored with the legit Lisk ICO) but alas…such days are gone

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#5

Seems like someones still making them: I created my own coin by forked litecoin

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#6

I to can draw ‘unicorns’ (ie mine from a site personal coins…indeed altcoin generation sites)…
so unicorn drawing and/or your own altcoin is fine by itself…it is when you start to believe in unicorns and your own forked altcoin off of LTC or BTC or whatever…where massive delusion comes in…

(my precious…my precious…) ahem…you see the problem

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#7

It seems to me that it is hard to find a worthy project.

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#8

Don’t think so :roll_eyes: Probably… if you have good intuition and you’re pretty sure that the project is nice and it’s worth to invest then you’re free to buy

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#9

Most altcoins will end up as dead end projects that hang around only on exchanges for people to trade. If it doesn’t move into general use or provide a utility, then a crypto will die.

There are so many dead cryptos already with many, many more to follow. I think if only makes sense to buy a crypto that stands a good chance of having a functional platform or gets used for transactions. Very few meet those criteria right now.

Maybe the next phase of crypto projects will offer up more useful projects.

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#10

if you rely on intuition, then you can say goodbye to money …

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#11

I’m a beginner in all altcoins and my first thought upon entering this field is the same way in stocks, to never buy something I do not know or doesn’t have good history and fundamentals - to save time and resources. I only look into the ones with large market caps.

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#12

well-founded approach):+1:

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