- So called “crypto traders” are dumping non-ico coins when they launch new features and announce new partnerships
- By doing this, “crypto traders” are preventing these non-ico coins from maximising their treasury
- Eventually, these “crypto traders” will kill off the majority of non-ico coins
Everyone likes to think that they’re a pro trader, picking up massive bags of altcoins only to dump them when it goes up in value. With big enough bags, and with enough people making the same trade, you could kill off any price movement based on actual developments and partnerships.
This in turn makes life really difficult for miners and developers who rely on the steadily increasing price of their token to continue funding the evolution of the ecosystem that you’re abusing as a trader. Until people begin to realize this, non-ico coins will continue to face issue when it comes to funding.
Stop Dumping on the Non-ICOs
There are loads of amazing non-ico coins out there, and these guys are doing it for the love and the future of the technology, not because they’re trying to get rich quick – unlike you. Every time they roll out a new amazing feature that they’ve dedicated the last 6 months or so of their lives to, the price of their coin increases. This is because of the hard work these guys put in to make the network better, so what do you go and do? Dump it and stop the gradual increase of the price.
This means that non-ico tokens can never get ahead, and when they rely on donations and kickbacks from miners to fund the continual growth, you’re effectively making them use up way more of their donations than is necessary. If every time a new feature comes out and it makes the network more valuable, and therefore the coin more valuable, but you dump the coin, you’re causing the developers to essentially lose money.
As they burn through that pile of donations faster and faster because the crypto trading crowd thinks its cool and fun to get rich quick off the back of hard-working people, the project quickly loses steam and ability to deliver upon its promises. This then causes “traders” to dump it even more, creating an even worse situation.
Not All Non-ICOs are as Lucky
Some non-ico coins are fortunate enough to get help from crypto exchanges, meaning that this abuse from so called traders can really hurt projects. Changeangel is just one amazing exchange that gives back a portion of the fees collected during the swap process to the non-ico coins involved. This gives these amazing non-ico coins the chance to continue receiving donations so that they can continue developing and growing.
Think Before You Act
So, next time you’re thinking about buying up some non-ico coins just to make a bit of money and sell them, remember that you’re contributing to the death of that project. It might not be today, it might not be tomorrow, but you are part of the problem. Buy non-ico coins to support the project and use them, not as an investment. If you want to invest or store your money away, go head into DeFi or Bitcoin – it’s what they’re made for…
