- This topic has 22 replies, 2 voices, and was last updated 8 months ago by PrestigeEagle.
- Thursday, March 31st, 2022 at 15:44 #205208mic_drooParticipant
It’s a pet peeve of mine: people pick a coin they don’t like, say “it’s down X%” and pretend it says anything about the quality of the project. Just half an hour ago, I saw a comment in a post about HEX (there seems to be almost consensus that it is a scam – I never looked into it, but I have no reason not to believe it) saying “At this time Hex is 67% down from its ATH”, at the time it was the top comment. I replied “just curious: what point are you trying to make with this number?” – and immediately got downvoted, even though I was just curious if the person writing it was trying to say it’s a lot or it’s not a lot.
This “argument” is also used for coins like DOGE or SHIB that this forum category doesn’t like. DOGE is currently down 80%, SHIB is down 68%. Sure, that’s a lot. But it is not unusual and never used for coins this forum category likes. BTC, during the last bear market, at some point was down like 85% – but it recovered. Even if you look at some forum category favorites right now, they are down a ton: LINK is at -66%, ALGO at -72%, NANO is down a whopping 92% (there are many, many other exampeles). Are these coins bad now? And, if not, why not?
Of all the coins I mentioned I only hold one, ALGO. So don’t get me wrong, I think it’s a better coin than, like, DOGE or SHIB. But “it’s down from ATH so it’s bad” is always an awful argument, and I don’t get why people keep making it.Thursday, March 31st, 2022 at 15:44 #205220662c63b7ccc16b8c
The purpose of cryptocurrency is not to be an investment scheme for fiat gains.
People use it for that, but any serious crypto has much bigger ambitions, and long term fiat prices will become irrelevant.
The obsession with fiat price indicates most people “into crypto” are really only skimming the surface of what its all about. Fiat price is literally the least interesting thing about crypto.Thursday, March 31st, 2022 at 15:44 #205231PrestigeEagle
You farm moons shhhhhhhhThursday, March 31st, 2022 at 15:44 #205230Cizzar
Yes, yes I canThursday, March 31st, 2022 at 15:44 #205229Odysseus_Lannister
I think comparing what % down from ATH an alt is vs BTC and ETH is a fair assessment of a coins resilience. Granted it’s a very imperfect measure but you can use that and correlation to determine how tied to BTC and ETH a coin is to see if it’s standing on its own merit/hype vs the general market getting pulled up or down.Thursday, March 31st, 2022 at 15:44 #205228Dinafem_shib
They all have bots who follow Btc anyways lolThursday, March 31st, 2022 at 15:44 #205227Malixshak
I think the difference is with solid project and shitcoin. Some of those projects Op listed are shitcoinsThursday, March 31st, 2022 at 15:44 #205226UnexperiencedIT
I like VET. It is down from its ATH quite a bit.
I still think its a great project. Sadly, price is not showing that.Thursday, March 31st, 2022 at 15:44 #205225[deleted]
[deleted]Thursday, March 31st, 2022 at 15:44 #205224fisher02519
The double standard and turning a blind eye when people stand to gain in this sub makes trusting any information I get here so difficult.Thursday, March 31st, 2022 at 15:44 #205223Nadz202119
To each their one! So stay true to what you beliveThursday, March 31st, 2022 at 15:44 #205222jpinksen
I find the most common discussions here (when viewing through the eyes of upvotes and downvotes) boils down to confirmation bias and memes
Usually I’ll scroll down the the non-upvotes section of a thread to find discussion with substanceThursday, March 31st, 2022 at 15:44 #205221Castr0-
I love everycoin, my bag too. I accept everything,Thursday, March 31st, 2022 at 15:44 #205219EffUtube
I think i can.Thursday, March 31st, 2022 at 15:44 #205218ipetgoat1984
Yeah, I don’t subscribe to that methodology. I’m a long-term holder so those big price swings don’t make me give up on projects, they make me buy more.Thursday, March 31st, 2022 at 15:44 #205217Raj_UK
If a coin still has good fundamentals and utility / use case, then it’s not a “bad” coin in my opinionThursday, March 31st, 2022 at 15:44 #205215Optimal_Store
I agree. Price down or up not always equal good or badThursday, March 31st, 2022 at 15:44 #205214Acceptable_Novel8200
Don’t get me wrong, OP
There are more than 4 million users on this sub,please dont generalise the comment of one user to reach on any conclusionThursday, March 31st, 2022 at 15:44 #205213KakarotoCryptoniano
My coins are the best: Everybody in this subThursday, March 31st, 2022 at 15:44 #205212Fragmented_Logik
I ALWAYS take this sub with a grain of salt.
The amount of people here that actually know nothing is surprisingly high. Example. Someone posted a NFTs suck thread a couple months ago. Their 100% locked in fact argument was that someone “bid” on a 150K NFT for like 100 bucks. So that’s what the NFT was now worth.
It had thousands of upvotes and people laughing about.
I hate the phrase dyor because 9/10 times someone saying it is a person that thinks a burn wallet is a holder but just look into things you like. Learn and invest in projects you think have upside. Fuck everyone else. The most money I’ve ever made is off DOGE and SHIB. I don’t care if other people shit on it. It paid my college loans lol.Thursday, March 31st, 2022 at 15:44 #205211arcalus
Nah, you can do whatever you like.Thursday, March 31st, 2022 at 15:44 #205210Mbugu
My friend, anyone who seriously judges the value of a project by its token price action is already too far gone from reality.Thursday, March 31st, 2022 at 15:44 #205209FinishGloomy
Waiting for the ICP comments
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