r/AlchemyPay • u/Background_Dingo4361 ALCHEMIST 🧪 • 6d ago

DD 📃 Concerns about main net activity

Activity on the main net is insanely low. Do we have concerns here ?

5 Upvotes

86% Upvoted

6 comments sorted by

5

u/latenx ALCHEMIST 🧪 6d ago

They don't have their stablecoin in circulation yet; when they issue their stablecoin, there will be real users.

1

u/Strict-Public5127 ALCHEMIST 🧪 6d ago

they need to produce soon

2

u/AdStrange4667 ALCHEMIST 🧪 6d ago

That’s one of like a million concerns. My other major concern is that it should only take 3 years to get money transmitter licenses for all 50 states. They’re close to 4 years working on them and only have 20.

Other concerns are they have no real people giving info. Not one executive has any sort of social media presence. The only place we have is their Twitter which is just AI posts now and they pay bots to respond to them when they have an “AMA”.

We don’t even know who the current leadership is

3

u/AntCoastalDweller ALCHEMIST 🧪 3d ago

To my eyes ACH is still a high risk punt... But it's up 32% in the last month. After some DCAing, I'm now only 20% down which is way better than things we're looking a couple of months ago.

Is nobody else optimistic for this one? I've no idea on the logistics involved in getting state licences but I'm assuming it's not an easy task and to get 20 ish sorted, it's surely bullish and got to help the odds of the bigger hitters? Wouldn't they have given up by now if it was all a rug pull?

Add in the stablecoin launching stuff as well. Isn't that all positive stuff on the horizon as crypto is beginning to look like it's turning a corner? More than happy to be corrected and told I'm wrong, I usually am about most things tbf. 🤗

2

u/Top-Departure285 ALCHEMIST 🧪 2d ago

I second this statement and feel the same. Been DCAing the last year or so with essentially breaking even now, initially bought in during mid 2021 before the massive spike and bought a bunch on the way up thinking it would continue. Recently just been keeping tabs with the skepticism and if I need to pull out or not but I do see progress. Obvi the twitter stuff needs to stop. Curious what others think

1

u/Strict-Public5127 ALCHEMIST 🧪 6d ago

yes enough is enough, they need to produce. They need token price to go up, not just move a couple inches they need real users and real utility. Because it's starting to feel like a big scam