Having invested heavily into ETN at one of its highest points - around .15 USD, I know that I was a true victim of stupidity and fomo'ing. Once again my thought processes were wrong. Thinking that ETN would do great because it was one of the most popular ALT coins to be advertised on mainstream media, I thought it would be first in line for mainstream adoption.
Sadly I didn't take the time to step back and look at the project and its unstainable growth from a neutral perspective. The majority of people who invested into ETN on the ICO were stay at home moms and kids, not tech-savvy crypto investors. With that being said, many of them started to foam at the mount once they started to realize profit of 5 and 10 x and took their profits as fast as they could without a care about the original project.
Now almost four months later, while everything else in the crypto world is slowly crawling back up, ETN remains stagnant. Though there has been a terrible amount of bad news - mainly due to the lack of quality leadership and project infrastructure, a lot of projects that were susceptible to the same fud, are starting to retrace upwards - but not ETN.
Watching my almost $10,000 CAD turn into about $1200 makes me completely sick, but I am sure there are others on the hook for a lot more. Will ETN be able to recover from this, are will ETN fall all the way down to zero. I could readily say that the creation of ASIC algorithm specific miners really added to the hardships of ETN and are probably why its price is so low.
If it was up to me, all crypto currency would work on a proof of stake, instead of a proof of work. Why waste so much energy, just to create something that is probably going to be completely worthless come five years from now? At least with staking, crypto seems more like a conventional capital market, where you get paid dividends to hold a stock or security. I know that GBX, a masternode project that I am currently investing in, is doing away with mining due to the popularity of ASIC miners and the downward pressure it has placed on its coin. I hope that ETN quickly makes the same choice, so the price can recover and the project can continue.
I grabbed some during the ico and got rid of most of it. I didn't see it being worth above 10 cents so it was easy to sell when it hit that.
ETN won't go to 0. I'm not 100% sure why it hasn't had the same recovery. There are a couple coins that have not recovered like they should have it seems. ETN is one of them. Though I would think about dumping it if it gets closer to what you paid for it unless you have a really good reason you think it will go above that. I myself don't see enough value in the mobile miner and etns roadmap to warrant buying back in.
Good luck though yo. Bitconnect, and etn :( .. you need to find solid projects that add real value, not just monetary value.
As I stated, my brain doesn't work properly.
With electroneum as I stated I thought it being mainstream would help its price.
With bitconnect - I never invested a dime. I bought into the Bitconnectx ICO. People were paying $20,000 at the time for a binanace login, because they weren't accepting new users. I thought if this was the case that we could really use a couple more name brand exchange. But then it just turned out to be an exit scam. Wrong again. If you try to apply any reasoning to crypto you get fucked. At least I do. LOL you got in at the ico and sold @ ten X, I see where all my money went
Lost 5k in both. BCCX and ETN were my biggest positions. I really wish I had that money now
Obviously you are some type of crypto savant. Me, I am a crypto retard. I am why everyone else can make profits
I am not. I make mistakes and suck too yo! Anyone who says they don't is lying. I lost a little in bcc but was lucky enough to have profited from it in the end because I was in early enough. I got lucky buying ripple around 5 cents and selling it for much more than that. Since then I have made no crazy trades. Just bought the coins that have a use, and have current value. The ones that are only mostly speculation. Not purely speculation like the rest. Steem is an example, eos is not yet but it will be for sure. Basic attention token, no limit coin, salt. There are some tokens that have uses. Put your monet in those coins. What is ETNs use? To allow simulated mobile mining in order to open the crypto space to new investors basically? That is what I had gathered. They may be able to leverage the app downloads somehow.. but they are giving etn away for free in order to do so and that puts downward pressure on the coin.
ASIC miners don't help either, but I hear you. I bought 10k EOS on the ico day one , when it started to collapse I sold all of them at around. $2 for a breakeven, man do I regret it now. Imagine if I bought $20k in eos at .50 when it hit the bottom, id be retired. Man crypto is all about timing and luck lol
I grabbed my small portion for around 50 cents. I wish I would have bought more, 10k was my goal to get but I didn't even come close. It's a long term hold for me though. Yeah, asic miners should have been expected and even better ones need to be expected in the future. Thats inevitable. Plan around it, and dpos is a good route for that. It's hard to pick the really, really good coins.. what are you holding now then, besides ETN?
That's insane, you are very lucky. XRP at .05, ETN @ .01, EOS @ .50, man I haven't made a dime at crypto, haven't made a single good trade. I guess crypto elites like you are on another wavelength. Just a quick question, after seeing EOS collapse 90 %, why would you buy it ?? It makes no sense, its like buying bitconnect today.
All my investment are shit right now, but I am far so down, I cant sell them.
Bought TRX @ .20 currently .05
Bought GBX @ 50.00 + currently 8.00
Bought Safex @ .07 currently .015
Bought TZC @ .14 Currently .03
Bought Crypterium on ico @ $2.50 currently .90
Bought BWK @$15.00 Currently @ $1.50
Bought ETN @ .20 currently @ .02
Bougth BCCX @ $50 Currently ZEROOOOOO
Bought XVG @ .25 sold at .10
lol now I am homeless, living in my car. Enjoy those profit. I am sure there are plenty of others like me out there. I tried diversifying, but it didn't help. If I was you, id play the lottery. Look home many times I tried and I couldn't strike lightning even once.
oh ya,
somn @ .60 now its .20
ADA @ 1.00 sold for .50
embercoin - it went to zero cant remember what I paid.
You are buying at the wrong times. I'm sure you have seen the buy the dip memes and posts. You seem to have done the opposite yo. You are getting caught up in the peak fomo. When everyone is saying good things about it because it's went up astronomically lately. All those coins endured that.
EOS for me. I bought Steemit in my early crypto days on a fomo not knowing the coin split descision. It went down a bit and before I sold for a loss I went and looked it up. Decided it was at least useful, moved my coins onto here and have been reaping the rewards ever since. I went deep into Steem, then deep into bitshares. Then when I heard the guy who made it was making a new coin, I wanted it. But since I'm from the us I had to wait for it to be on an exchange. And then I just kept waiting and when it fell it fell to 50 cents and just stayed around there for a while, I decided that was the low and just grabbed it. Dan larimer is a solid blockchain developer, just knowing he created 2 of the top 50 blockchains was enough for me. Now I know more, and EOS is going to be an awesome blockchain.
You just gotta hold on and not sell for the loss unless you can clearly justify why it will not go back up.
I grabbed some crypt myself and am still holding it. It will go up still. A few of those coins I have never heard of though.
What inspired all those purchases? Good articles? Green charts? Research?
I think there is still hope yet. Etn will be one of those coins that shoots up when you least expect it, just like many did, late last year, that were stagnant for years.
I see the real value being in the partnerships and patents. Once it is all working and being utilised. If they do it well it will knock a lot of the fud away and start putting upward pressure.
I just hope they don't make any more big mistakes.
Anyway even if you do decide to sell, make sure to keep a few just in case.
Good Luck!