I believe that's what's the latest now, enticing people with that the project or to be listed soon and they would quote an exchange that will attract people. I believe this is a lesson that for every project you want to run their Bounty Campaign, make your own research before joining
Yes, that is the common catch used by these projects or bounties these days, "listed soon on X exchange at $Y price." This trick works well on hunters. Once hunter sees the assurance that the project is listing soon, he does not bother to dig further. |
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And you forgot about the most important thing, invest only what you can afford to lose. Cryptocurrencies are a new form of digital assets and we still do not know, if they have a future or not.
Thanks for adding this. This particular point is very important; "invest only what you can afford to lose." While I get tempted to take loan from bank to invest in crypto, I do remember the risk involved and how things can easily go wrong. |
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I do not recommend any serious or legitimate project to launch ICO. ICO has gotten a bad reputation in this crypto space and most investors will think twice before participating. So, it is not about the project itself, but rather the reputation that ICOs in the past had gotten. I do not see the return of ICOs. There are now other working alternatives to fundraising.
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I don't think there is a specific platform to identify low cap projects. A good project with low cap has high tendency to yield good profit. To discover these gems takes a lot of indepth research. To be honest, they are not easily detectable and often times does not get the needed hype until they start this massive upward movement. Adequate research is important, on CoinMarketCap, Coingecko, Twitter, YouTube and other forums.
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I rarely sell tokens or coins bought or received from bounty/airdrop. The few times I sold were simply to take profit, buy back the dip or move over to any other viable project. There are always consequence for every decision to sell or hold and have learnt to be responsible for them, then move on.
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Experience they say is the best teacher. Every hunter have had this experience where they held on to their bounty rewards hoping for increase in price or exchange listing, but eventually, watched the tokens turned out to be worthless. Energy, effort, brainstorming and a lot of resources were put together to complete the bounty tasks which in some cases takes months. With past bad experience and the need to make worth of the token received, hunters sell and move on.
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Oikos is a good project and I have been a supporter since I came across it. The concept is not new to crypto space, however it is new and the first on the Tron Blockchain. Tron itself is still developing and building Oikos on it will make both to develop together, setting a new direction to the DEX ecosystem.
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For a lazy person like myself who is always waiting to be spoonfed with everything, I will definitely rely on the opinion of a Legendary member on any matter. However, there is a reason for the existence of the word "DYOR". DYOR hardly fail if adequately done.
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DeFi hype is simply giving ETH the needed exposure and has not singlehandedly be an instrumental to the rise in price. Rather it is contributing to network congestion and high transaction fees. The game changer at hand will be the coming network upgrade, eth 2.0. This I believe will compliment the massive exposure provided by DeFi.
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Be careful of "anything is possible in crypto" syndrome. Don't get carried away easily with the current market performance. Yes, 2020 has been an amazing year so far for the crypto industry, and it is paying back for the lost years. It is gaining heavy momentum these days, but just forget about $10k or $12k for ETH this year.
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Crypto as a whole is risky. Whether old or new coin, to each, there is a certain risk level. Since the situation of many ICO scam in the past, I stick to old and established coins or rather I wait till the new coin finds its purpose and direction and I simply find a favourable entry point to invest in it.
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Fake giveaway or scam giveaway has been around for a while, maybe you are just noticing. It is very common on social media especially on Facebook and Twitter. They create profile pages similar to any popular project or a popular personality. Novices and newbies, new crypto adopters just need to know how to identify and avoid them. And greed level should be properly checked from time to time.
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Talk of the amount of tokens normally allocated to bounty and airdrop, they can't be compared with the team allocation or investors allocation or as a whole, the overall token supply. Bounty and airdrop allocation are usually very minute and if the project is properly managed, this allocation when distributed does not cause any massive drop in price or the death of the project. Leave out bounty and airdrop when you are stating the cause of death of any project.
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Bounty campaign is a good way for projects to spread the word and gain publicity in the cryptocurrency market. But it is not the best way to gain investors. Good projects don't depend on bounties alone to promote their token sale.
And this is because when bounty hunters post about a project, majority of these posts is only seen by other bounty hunters and not to the real investors. And these posts are just basic and can not convince good investors to invest.
Bringing in the investors and funds depends on the team's marketing ability and their ability to close deals. This is why good projects attend a lot of crypto events and network with people.
Though bounties help a project to create popularity and hype among crypto users, the main investment and funds is brought in by the team's marketing and closing ability.
I agree with the points you raised. Project team should not rely on a single strategy, but must harness every marketing strategy; combine multiple marketing strategies from all sides. It is very important not to leave any stone unturned. I don't have statistics to back this up, but from the bounty campaign, we do have hunters that invest heavily in the project they're working for. It is an addition from this group. |
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