In a world driven by hippies and FOMO [Fear Of Missing Out]It is becoming increasingly clear that a responsible cryptocurrency enthusiast needs to prove that choosing a token can help you find a viable project that is difficult to find and that good projects with long-term prospects are even harder to help in a money-grabbing world. ‘shit coins’.
With the recent evolution, with most new cryptocurrencies setting record lows and new ICO Projects not receiving applause after Crowdsale, it is now common for disappointed “investors” on social media to blame ICO promoters rather than blame. for not doing their due diligence to select a likely post-crowdsale winner before purchasing a token during their ICO.
From my broad observation, most crypto buyers simply bought coins based on an FOMO (Fear of Missing Out) based on an ICO based on the FOMO (Fear of Missing Out) created by the hype masters behind those coins. Many bought the coin without understanding the post-ICO purpose, or what the token had to do after Crowdsale. When nothing happened after the ICO, as is now the case for many ICOs, they jumped on social media to shout the bloody murder.
Recently, my team and I have just completed a tour of Africa and some parts of the US to promote the Nollycoin ICO. We organized and sponsored various workshops, held live AMA (Ask Me Anything) press meetings, and held many one-on-one meetings with Crypto Whales, small investors, and millions of cryptocurrencies of all colors.
All in all, one thing that surprised me more than anything else was that MOST of the token owners were NOT behind the token sales involved in the underlying business or project.
Even rarer in my observation, it was surprising that many could not say the value proposition of the project, its goals or the company’s plan to disrupt the market and capture some of the buyers in their industry. They simply bought the ICO because the various telegrams or Facebook pages they visited told them to “Buy”. Hodl and buy more ‘. Most simply acted with her instincts instead of objective deliberation.
Now, if most of the people I’ve met were teenagers or uneducated people, I wouldn’t be so surprised by the levels of ignorance of many of the crypto “investors” I’ve met. On the contrary, I met many of them who were university graduates and some of them. However, less than 10% of them could easily say why they bought a coin because it would increase in value over time. Everywhere I went, very few people told me the name, experience and ability of the corporate directors of the company that sells coins.
The only thing most could point out was that the coins were recommended by “respectful” agents, when events proved that most of them paid for chills to create FOMO and otherwise useless shitcoins to create respectability.
Beyond what are called fake influences, many crypto buyers knew that the names of the group leaders were Russian, Chinese, or Korean, even though they knew nothing about them. All you need to be a successful ICO is to list the names of people from Korea or China or Russia that no one else could verify with a simple Google search.
While I agree, there are certainly many things to consider when deciding whether a project’s tokens will increase in value over time, I think the acid test and immediate evaluation criteria should be outside the scope of what would happen to the coin’s availability. in crypto exchanges.
Even though most of the crypto token owners I’ve met didn’t know it, the reality is that if you bought a token from most ICOs, you weren’t really “investing” in that company. You would not buy the shares of the company and you would not buy any security from the company.
And, at best, what you are doing when you buy tokens in most ICOs is to “donate” to a project in exchange for giving a utility token or coin that has no real value beyond the business ecosystem legally controlled by the issuing company.
In a nutshell, in addition to the expectation that the price of tokens will rise to “moon” or millionaire, there is nothing else you can do to enjoy the added availability of the ICO company with the token, if any.
Since no one could have been sure how Crypto would work in a cryptocurrency exchange when it finally got there, and recent experience has shown that most token prices would probably go into an exchange and plunge in the first few weeks (due to high speculative sales), it would make sense from your token. explore what value or usefulness you can derive from it beyond the expected “moon” in return.
As the cryptographic revolution continued to revolutionize, transform, and adapt to different market developments, the only way to ensure that your money is not wasted is to ensure that you can still use these tokens for great value and benefits. even if you sold it immediately in exchange for a profit.
In making this specification, you need to ask yourself this key question: What is the value, product, or service that the company that sells the token generates to make it worth this purchase that will give me enough value for my cash?
In a world where token prices are falling in different exchanges, the more chances you have of getting a real-life use of a token outside of the expected list of cryptocurrencies, the more likely you are to be frustrated or not. tokens that are useless to you.
So you have to ask again and again: if this coin was ever traded in an exchange, would I be happy because I accept the view? If this token has lost 70% of its value in an exchange, can I still use it and get the value of my money elsewhere?
If you couldn’t answer these questions positively after reviewing the EXAMINATION and investing in the company’s claims, then you should think twice before buying that coin.
Final case study
Take a current ICO like Nollycoin, which is a token that drives a Blockchain-enabled movie distribution ecosystem. Coin promoters have created different utility scenarios for coin buyers to ensure that Nollycoin does not have what happens in crypto exchange, to ensure that their sponsors and token owners will continue to smile.
Nollytainment ecosystems are among the major utilities attached to the Nollycoin token
• Ability to use Nollycoin tokens to watch exclusive movies in cinemas and movie theaters
• Ability to use Nollycoin tokens to access 1,000 movies in the Netflix-on-steroids blockchain Movie distribution.
• Ability to use Nollycoin tokens to purchase NollyMall products and services, which is like the Amazon platform for entertainment-based products.
• Ability to use Nollycoin tokens to pay school fees on the NOLLY Academy platform and business partners
As you can see, beyond the ordinary expectation that tokens can be listed on a crypto-exchange platform, you need to look beyond the hype of an ico behind the immediate and prospective usefulness of the token and the viability of the underlying project.