I bought $2k of REQ very early in bull run of 2018, grew to $90k in gains. Watched it crash to $30k just as rapidly when I finally sold. Even though it was still a big win, I’ll always regret “losing” that $60k. Taught me a lot.
You can absolutely do your own research. Just ask a few simple questions. For coins/tokens, 1. Does the underlying project have a legitimate value generation mechanism that doesn't rely on the price of the coin/token. (if so, look deeper) 2. Is the coin/token inflationary, or does the creating foundation have a majority of the supply and/or the ability to make more as needed? (if so avoid). 3. Is there any kind of potential for a death spiral built into the project? (if so, avoid) I've only found 3 projects that meet my standards. ETH, MKR, and REQ. For exchanges, 1. Is it Centralized or Decentralized? (Decentralized is best, but not available in all instances). 2. Is the exchange upfront about how they make money off you? (I.E trading or membership fees vs some hidden ways of investing your money for sketchy yields.). 3. Does the exchange seem to spend a lot of money convincing people it's legit instead of letting the value of it's products do the talking for it through word of mouth? (if so, avoid). My primaries are Kyber and Uniswap for DEXs and Coinbase for a CEX. And always remember, not your keys, not your crypto. If you're a trader, only keep your trading stack on centralized exchanges. If you're not a trader, buy what you need, then move it to your own on chain wallet.
(REQ) Request Network was supposed to be a huge game changer back in 2017. They were supposed to be the Paypal of Crypto, and the price went up 30X over the course of a few months. They very quickly fell out of favor after the market crash, and never recovered. I guess it's still active, but I haven't heard of this project in years.
Except that Waltonchain, AMB were blatant scams. REQ nothing but ideas. The only thing that did not make it but was serious project was NEO. Don't compüare them to ATOM (hell even Polygon even though I hate it). Or Even LINK and Solana...
Hypecoins last about 2 cycles and shitcoins 1 cycle. For instance this cycle is the final death of all the class 2017 hypecoins: VET, XLM, REQ... ect. You wont be hearing about these anymore in the next bull. ADA, SOL, ALGO... as 2021 hypecoins they'll still be lingering this next cycle, disappointing its bagholders as new hypecoins have replaced them and pump more. But they'll still hold and hope... until the next bear market crushes the last holders. 🐷
Going in on any of the coins you listed with any significant amount of money was your first mistake. Most of it should be in at least the top 10 coins, arguably just ETH and BTC with small dabblings in lesser coins with use cases you find appealing. Myself I hodl about 80% ETH, 10% ADA, 5% ALGO and the remaining 5% is split among lesser coins like MATIC, ATOM, LRC, REQ, BAT, etc. Investing in any project without an established foundation is extremely risky, small amounts only. Yes, getting into something at the ground floor sounds like an easy way to 100x, but in practice you're more likely to lose it all than to hit a big one. Diversify into projects you believe in, some will win some will fail. Putting all/most of your holdings into just a few coins like you're saying is unmitigated risk which is why you felt such loss. Good luck building your savings back up, may the rockets to the moon be swift.
I started during the 2017/2018 cycle right before the crash, I'm talking late-November/early-December and watched it all go down as my first experience in crypto. What I'll say is to focus on strong projects, your crypto portfolio should have 50% bare minimum in safe assets(BTC/ETH). If you're trying to get into alts during a bear market, locate diversified ones with strong teams/communities. Half of the alts I went into in 2018 are nowhere near their ATHs(XVG, NEO, ICX, WAN, XRP, XLM, NANO, REQ, QSP, etc.) Once you find ones you have a strong conviction in, DCA downwards on them as well as ETH/BTC. Seeing BTC down to 3500 and ETH down to 85, you'd be screaming at yourself that you didn't go in harder. Never put in more than you're willing to lose. This cycle has LP farming & staking, so you can use those to hedge a bit. Lastly, HODL and stop staring at your portfolio every 15 minutes.
Someone was shilling REQ in here one day and my gut said 'Ya know, he makes a good case...' I promptly bought some and a couple months later it had 4x'd. I sold instantly, still to this day my only profit taking so far. ^(Wish I had invested more than $100. LoL)
Oh half of my interested projects definitely don’t go 50x. I’d say 5-10% of them take off. 50% go bust in 6-12 months and then the rest are variable. I’m definitely not that good lol. For example, I had my eyes on LINK, MATIC, and AVAX for a long time and did not get in at my time of discovery. They’ve since done insane returns but for those, I’ve found NEO, ARK, REQ, NANO, etc. that haven’t nearly done as well
I was disappointed in REQ and ARK. REQ was supposed to be decen. accounting, which is a problem I've heard a lot of people (in sectors outside crypto) talk about. The team was part of Y combinator for a bit, which gave me confidence. Seems to have died on the vine but maybe it's an adoption thing. ARK was the first project I found (in 2017) to promise multichain interop, a feature that is basically the fat-free-bacon of crypto promises. I know a lot of projects are working on it and perhaps one of them will solve it, but the problem is so complex I should have held onto my cash. I guess I'm disappointed in myself for this one.
pretty much everyone who bought that token in 2017...but not only with REQ, I can think of another 50 tokens of the 2017 top 100 that have practically disappeared...imagine in this new cycle how many will be burned with the other tokens of the current top 100...and it will be even worse than 2018...
To be fair some alts never touched their all time highs again because they went up way too much with hype. Projects like REQ haven’t gone up, but are diffenitely exploding in use. If you only looked at price you would think it had gone nowhere.
Ahh yes the 2017 altcoin run up - what a time to be alive. I lost some good money on NEO, REQ, BLT, EOS, BAT & IOTA. It's funny to see how poorly these have performed 5 years later! Very much a cautionary tale that good marketing and flowery white papers isn't always enough for an alt to survive. Fortunately I made the call to drop them as losers, but kept focus on what I thought would be winners (ETH & VET) which made me a ton of money over time. If I had kept funneling money into the losers, I wouldn't have made a dime even with other gains.
REQ One of the dozens of actual products in cryptocurrency. Huge crypto clients and exponential transaction growth to prove it. It has been dramatically ignored by everyone, but eventually people are going to realize how few products in cryptocurrency are legitimate and pile into it.
My Ethereum dapp moonshot plays failed miserably from 2017 - SONM, INS, QSP, REQ, DENT, SUB, AION....whats funny is that for 3 weeks I couldve sold all my plays at their alltime highs but never did due to greed. Shouldve kept my bags of $500-600 ETH instead. I also bought other shitcoins like NXS, NAV, CLOAK. I had 5 more projects that survived till this cycle and I didn't even sell them near top. Again greed. Instead of 400% from 2017, I cashed out to barely 200% a month ago.
The price of the coins have nothing to do with their tech. around 2017-2018 there was a shift to purely how well marketed the coin is. Tell me why Doge went from .05 to where it’s at now with no tech advances? Other coins just came back to life for no other reason like ENJ and REQ. look at their charts. Hype and fomo has been the name of the game for the last years
IIRC nothing, but if the price crashes past a certain point you will get liquidated - and then have no bitcoin. Its happened in the past to people. REQ staked a bunch of their ETH IIRC and when it crashed to $200 from $1600 they lost a bunch of it.
Remember when REQ was pumping late last year? I had a bag last bullrun and me and a few other former hodlers were calling out the scam pump. Dumped from $1.15 - 19c so far. Absolute shitcoin, can't believe whales managed to manipulate a whole new generation of bagholders.
Well, let's see, I've picked a completely random date from 2018 from archive.org. https://web.archive.org/web/20180722192946/https://www.reddit.com/r/CryptoCurrency/ Oh god, it's new reddit, my eyes. Looks like they're talking about Bitcoin adoption, there's still some politics talk there, lots of talk about ETFs. There's a thread about REQ! Lot more Bitcoin specific stuff than I remember.
I hodl'd REQ from .27 up up over a dollar, doubled down at around .012.... sold at around .27 for 100% profit and it almost quadrupled a week later. Every decision you make is capable of being good and bad, and you'll never know until it has happened. Lol
REQ is going up again. Not sure why. I'm hoping it goes higher than earlier today I think topped out around 28.5 cents. I did t sell and thought well I fucked up but maybe be it'll pump again like crypto does and go even higher. Looks like it's about to happen Amy minute