One of the main thrust of a good ICO is the concept of the project. There are so many projects replicating other projects and not offering any service different from what is existing. To have a massive followership create an innovative project that has a real life impact on the environment. The second most important factor is having an effective and efficient team working on your whitepaper, website and social media handles to communicate the project to the investing public. With good advertising, so much can be expected.
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In my opinion, hodling is not lucrative anymore. There's no point hodling for over a year when one could have multiplied the tokens by swing trading or better still sold out to take profit and buy back when the value is lower. I've given up the idea of hodling expecting a huge return in the future. The problem is that in the future, the project may be dead.
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Listing doesn't kill a coin. The reason why there's massive reduction in the value of the coin after listing is because there's less demand for the coin as as against the supply. I believe every coin with real use value should have an increasing demand when it's needed to carry out regular service or transaction. Its also a necessity for the developers to have a reserved fund which would be utilized in buying back to tokens from weak hands.
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There are many altcoin in the cryptocurrency space and few are exceptional. I believe the king of altcoin should be based on the popularity and use case of a project, not only the value. My king of altcoin is ethereum, it holds the second major share of the coin market cap and it serves as gas for creating smart contracts and transferring other altcoin in the ethereum platform. I believe ethereum is widely used and very useful in the crypto sphere.
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ICO investment may be on the verge of extinction due to the lack of trust it has gained over time and the fact that most ICO's now gets listed below the ICO price, making the investors regret their decision to support the project.
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I'm in full support of the sanitation which should be carried out in the crypto sphere. They've been so many issues of scam and this was spearhead by developers who rely on the ignorance of the masses and steal from their innocent victims .
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There are several ways to make money in the cryptocurrency space. One of the most common ways is by trading coins, where you exchange one coin for another, and your ability to study the charts and predict right determines how much you earn.
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The cryptocurrency space is a haven for scammers, this is because of the freedom the industry gives in establishing projects and raising funds from the public. Bringing scammers to book is quite difficult because of the various government boundaries and the fact that most people participating in fund raising are not using their real identity. I do hope that some extent of regulation is introduced in the industry and the process of fund raising should be more rigid to make it difficult for scammers to have their way.
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It's impossible to have only one cryptocurrency, in the industry. I foresee a future where there would be several cryptocurrencies by different projects. The needs of man are diverse and so are the industries in our environment. With several cryptocurrencies, people will have to exchange the bitcoin or eth for the coin of their choice and make payment to get the goods or services required.
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ICO isn't a bad concept, it's just the fact that many people gets scammed. ICO was a lucrative source of investment in time past, people made substantial amounts investing in ICO. Many successful projects emerged as a result of ICO and development in various sectors were achieved. My only disappointment is with the incessant scam ICO's and the fact that projects now list below the ICO price.
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In making investment decisions, it's better never to depend on any website in particular. Most of the websites about cryptocurrency are biased and could give a positive review when paid to write in that capacity. It's best to carry out some due diligence before investing in any project and remember to invest only what you can afford to loose because no matter the extent of research, something could still go wrong.
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I believe the functions of banks are much higher than what cryptocurrency can offer. Even in the situation of mass adoption of cryptocurrency, banks will still be required to provide essential services. Fiat will also be used simultaneously with cryptocurrency and some banks and government authorities may have cryptocurrency.
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There are so many factors that should be considered, to boost confidence in the cryptocurrency space. One of the key points to be considered is the volatility of the market. Most investors are not comfortable with the high level volatility of the market, it could make one go broke In a space of time. The issue of volatility could be address with the use of stablecoin
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I believe people see cryptocurrency to be more complicated than it really is. It's easy to look at the industry from a distance and conclude that it's complicated, when it's not. I used to think that cryptocurrency is complicated when I first got into the industry, but later found out that its very easy.
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In my opinion, ICO's are not worth making a substantial investment due to the inherent risk of buying at a much lesser price when the coin eventually gets listed. There's also the possibility of the ICO not being successful due to terrible situation of the market, which has made it difficult for softcap to be met.
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