I completely agree that crypto will be the currency of the future. Cryptocurrencies are already used all over the world and constantly more and more countries begin to legalize cryptocurrencies and recognize them as official currencies, this is just a matter of time when the whole world will already fully begin to use cryptocurrencies with its full potential.
No one actually believed the internet will get to this stage. In fact many technological innovations today, many people doubted it while seeing it as a waste of time, but those who believed in it, still made sure it gets the required attention. What I am saying is, good technologies takes time to grow, and during its growth challenges and roadblocks will spring up, but slow and steadily, it wins. If you take a look at the cryptocurrency space today and compare it to what was obtainable years ago, you will see the signs of progress amidst all the scams, hacks and so on. On the other hand, I do not think crypto can be recognised as an official currency of a country because it will likely challenge the powers of the government, and no government wants that. But in my own opinion, I believe crypto has come to stay and gradually it will continue to be used as a payment method in many platforms. Nowadays the competition is rising, many people are seeing the need to use it because of the absence of a third-party; isn't that a great idea? Yes, crypto will serve a great purpose in the future but might it hard beating fiat.
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Hi all , I'm a newbie in bitcointalk but not in Crypto field. I have about 6 Years of experience about this field. As an Investor , Still i have a doubt with some active telegram groups. I have analysed so many projects and Most successful projects had an Active telegram Group. So far I have analyzed 500+ projects before investment My analysis Results are here A) 9% successful projects with an Active telegram group B) 6% unsuccessful projects with an Active telegram group C) 25% unsuccessful projects D) 60% scam projects But Now I have decided to invest for a projects having an Active Telegram group , But tell me your openion about these type of projects. Project name -- Xfinance
Is it belongs to Which one ?[ A or B ?] Most times basing your research on telegram groups can be tricky, this in my own opinion is because of the nature of them nowadays. When you visit most telegram groups, you will see many bounty hunters who are helping to keep the group very much alive and if you check, their activities are always done during the bounty and of course in line with the token sale. But what happens when the token sale is over and of course the bounty is over as well? The group becomes somehow dull and less active, what then will be your fate. So, in my own opinion, telegram group shouldn't entirely be taken too seriously but that doesn't mean the response rate and activeness of the team shouldn't be called to question. Additionally, instead the telegram channel should be focused more because it is where all announcement goes to. As for the project you are looking at investing in, I don't know much about it, but if the idea is clear enough, the team skilled enough and the exchange good enough then, I think it can be a good one.
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For Newbie How check Which bounty program is good or which one is Scammed and i have heard that many good ICO still not launching there coins
Many good ICO? I have not seen any let alone many, nowadays people no longer care about ICO, it is now IEO here and there, and funny enough IEO is gradually trading the path of ICO. Just like in the case of ICO, they way you research about them, is closely related to that of IEO just that, in IEO, the exchange the token sale will take place on really matters. So advicing based on IEO, I would say first research about the team, the level of their competence, what they have achieved over the years and if their experience is in relation to what they are building. This is very important, because a team with financial expertise can't work perfectly in a sport project. Also, you have check their community and how active it is, and this goes beyond telegram to twitter and so on. A team that can't adequately update their community at the early stage of the project might find it hard doing so after token sale. Lastly, their partners and the exchange the token sale will take place on is also important. Thus, after checking the project and it looks good, then there is every tendency the bounty will look good as well.
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When you invest in any project in Crypto what did you look before investing?
I have checked:
Team
What are they offering?
What solutions they are providing?
What milestone have they achieved in the past?
Have they completed any promise?
Community
Social media research
Those are the point I checked before investing in any project.
Did I leave anything?
Also, What is the coins or tokens that are good right now? What are you HODL? Explain why you choose that?
Personally I invest in Phore, Chainlink, and LTC. Phore and Chainlink for my Defi craze and LTC and Bitcoin are my other bags.
What's your thought?
#Bitcoin #Binanace #Phore #Chainlink #Litcoin #Ethereum #Ripple #Defi #Blockchain #Crypto
These are what I always look out for in every project before investing, you stated them perfectly in my own understanding. However I would like to add that, partnership is always or rather also important because it shows the level of growth or how deep the project runs. Partnership also states how legit the project is, that is, the number of partners and their Potentials will speak volumes of the project. As for my Defi projects, I do not see any I can hold now, because a lot of them were all moved by hype and as many comes up, attention moves from the previous to the current, thus causing a decline in the previous projects. Therefore I can participate in DeFi projects for the gains but can't hold for now, maybe when the hype have gone down and the level of seriousness of each Defi project is seen, then one can make good choices. Additionally, in my portfolio always is Bitcoin, Ethereum and Ada.
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Imagine a NEW crypto with the Name 'Rope' has a trading volume of over 5 millions usd on uniswap. A visit to the website ' https://rope.lol/" has a BOLD Image of a hanging rope with further inscription 'Do not buy it' followed with a grinding face that looked like someone who got scammed. In a summary, the webpage is saying. do not buy 'ROPE' you could loose everything and you will regret it. But the reverse is the case. As a matter of fact. this token made 118% within 24 hours of listing and have a volume of 5 millions usd on Uniswap. My observation on this. Most people no longer care about the objectives of a project. they just want to Make GAINS. the days of do your Research is fast diminishing and most market users cared less about what they do with their money that they can invest on a project with BOLD description "this is a scam' as long as there is a return. i tried to trade the token but after visiting the site, i lost my little sense in trading on uniswap. BE CAREFUL.... . You carefully stated the obvious fact, and that's the truth. People no longer care about the idea or whatever behind the project, what they care for is pump and gains, nothing more. Yet this same set of people will be the first to lament when it goes sideways or dumps heavily on them. Also, I just like to add my opinion; first the team added a rope to the website meaning anything can happen, and when it does no one is to blame them. Now secondly, I do not think that it is investors that started the pump of that project, it could be the team that started it knowing that many people are heavily moved by pump and trading volume, so it could be that they started the pump, people threw caution to the wind and joined the game just to cash out and the volume keeps rising. For such a project, the team might have a target and once attained, the will exit scam. Furthermore, there is need to be extremely careful of most projects on Uniswap, because with what is happening, many scam projects might still come up, leverage the hype Uniswap has and scam people. So therefore, in all things, those who still make their own research most of times wins because those who failed to, might make gains in one project only to lose it all in another.
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I have tend to forget a lot about ICOs owing to the way it played out, also I do not know how legit your project will be but wouldn't hurt to check if IEO will work out for your project. Nevertheless, to the best of my knowledge, about token amount, you can't predict the market or be certain that it will work out in your favour, such that if a certain amount is minted, it will be exhausted. Some projects mints a certain amount and after everything they might not be able to sell all, although they might reach their soft cap and sell towards their hard cap, but whichever it is, if the hard cap isn't achieved, token burn comes to play. Now with this token burn, the total token supply of that project will change. So, I would say, state the soft cap needed for the project to start, as well as the hard cap, state the team token amount as well as for promotions etc then calculate the token price based on the hard cap, in such a way that if the soft cap is met, the project can still start while token burn takes place to reduce the amount of tokens.
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Please there's something I really want to understand about this crypto industry because at times as a newbie in this cryptocurrency industry you might get this wrong by making more mistakes in crypto. Does crypto name really matter before it become successful?
I think I will say yes, that name really matters but however there are several factors to put in place by the team for the name to stand out. For example, when we hear about Bitcoin, we already know what is obtainable and the benefits that comes with investing and/or holding it. When we hear about Ethereum, smart contracts comes to mind. In the case of BNB coin, Binance exchange comes to mind and so on. Now from these few coins or projects, one thing stands out and that is, they are all solving unique problems. So therefore I believe that name matters but the team should put in more work such that, when one hears the name of their crypto he will already know what that crypto stands for, its use case and so on. But nowadays, 90% of projects are just out for the money and nothing else.
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On one hand you want to create a coin that is pegged to fiat ( more like stablecoin) and on the other hand, it can also be pegged to precious metals. Now for the first, we have many stablecoins of which USDT is the most widely used, thus what makes you think yours can survive the competition? Also, as for precious metals, how many of gold backed projects are even working till date? They have either exited scam or stopped development because the team have understood there is no way for it to work, maybe not for now. So I would suggest, you try another idea because the one stated by you, is already being explored and worked on.
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Defi is good but yet we need to understand more and know if it will actually last long more better than most projects and the only way to know this is when the hype goes down. For now many people are chasing after Defi projects just because of the assumed profit they will get, just few are after the use case, so I think it's wise to wait a little more. Also, if you are calling anyone into the crypto world, endeavour to educate them on what they need to know, so that they do the right thing.
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I see that more and more investors are interested in a passive income that comes from cryptocurrencies. But, I am a little bit afraid that all these concepts: staking, crypto lending, and all form of income that is generated from nothing will end up sooner or later. When you compare mining, you have to buy mining rigs at first, then you need to pay electricity, so you spent a lot of money to mine a Bitcoin and that makes it valuable. What about staking? What you sacrifice to receive new coins?
In the case of staking, I would say it works for some projects and it doesn't work for some. Even many old projects are bringing in their own staking systems, all in a bid to keep their investors engaged and contained. But however, there is need to be very careful of all these staking programs, wherein some people might be lucky to make something out of it depending on how good the project is, some will not be too lucky as most team can use it as a medium to attract more users then exit the project. What is being sacrificed to receive new coins is that, the investor have to be a holder, that is, buy the required amount of tokens, then stake it, which won't be touched, so indirectly, you are a holder.
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That is the truth, the hype is getting over and over with each time any new Defi projects sets in, especially those which are good enough to cause a good growth, this will then set in another wave of hype, in this way, giving scammers more opportunity to carry out their aims. The whole truth still remains that gradually, people will see Defi projects as one of other crypto projects thus nothing new about it, and when this happens the good Defi projects will be seen and those who just rode the hype will also be seen. Therefore, everything still remains and that is, making personal research is very important.
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Skills and experience always pays off on the long run which is why the team who are highly skilled are the ones developing good projects while those who are after profits are busy running their bad projects which of course keeps dropping in value. Also, this involves others, in order to be a good trader or investor you need to have the right skills whether in researching good projects or identifying good trading signals. Also, although there will be tougher times but you will surly prevail because you have the right skills in this way, you are investing in your ability to earn more.
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Your friend said it will reach $30000, is he the owner of the project or is he a big whale that can pump the token massively? We should be careful of what we hear and pay attention to when coins we hold are pumping, that is, when a coin is pumping you will hear people giving different predictions but yet they will be the first to dump at the very slightest chance turning those who bought their predictions to bag holders. My advice is to invest wisely and be careful of what you listen to, don't be too greedy.
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Why is it doubling?
One of the things that will cause a coin to double or grow more in price is when people starts seeing the need for it and therefore investing in it. And also, people can only see the need for it when the project offers the chance. Now about this coin, it is obvious people started using it because it's being a long time I hear things about it. Also, owing to the nature of Ethereum network now, congestion etc, OMG now offers a better alternative to transfer USDT. Although TRC 20 chain can also be used to send USDT but not all exchanges supports it whereas all exchanges supports OMG chain.
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My opinion is simple and direct; that is, do not trust any new projects or rather do not trust upto 95% of new crypto projects because they are not coming to the crypto space to contribute adequately but are coming to be used as an avenue to enrich their team. Due to the lack of trust in new projects, people only care about the IEO and once it is on a good exchange, they participate, get their tokens and dump once trading starts. But in all these, it doesn't mean there aren't new projects which are good, there are but more research will be needed to figure them out.
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In the midst of all these messages between McAfee and Ghost team, all I can think of are those who followed the project just because he recommended it. I am just imagining what his followers will be feeling right now their hopes have been dashed to the rocks. Also, another lesson to learn from this is, do not follow any recommendations by all these so called experts or whatever because they do things for their own benefits alone and care less about anyone. That guy McAfee can be hardly trusted and those following his words will only cause more harm than good to themselves.
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Defi projects and their hype has really turned the market into confusion, this is seen where a project not Defi related beforehand all of a sudden now decided to add one or two attributes which will make it answer Defi projects, then the team starts looking for a way to make more money. This particular fact is seen in some already developed projects, and in forthcoming projects as well; in addition to this, more confusion is coming if care is not taken because sooner than later scammers will bring their own projects. Therefore, as we are chasing after Defi projects, let's endeavour to make our personal research about the project before investing.
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The truth about crypto currency is that it is more about hodling, technically, crypto is hodling. Most people that has been able to take profit from crypto currency trade or investment are those that have mastered the act of hodling.
Knowing when to hodl, when not to hodl is an important skill you need.
No, that is not the case. Everything about the crypto space is all about perspectives, what you see as a good thing might be different from the thought of another. That is, most people have made up their mind about trading and some have made up their minds about holding, in each case either of them are likely doing well in it. So in essence, everyone chooses what is best for them, either trading or holding or even both of them.
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I think the usage of cryptocurrency wallets is all a matter of choice and perspectives as well. While most people will prefer mobile wallets because of ease of use and easy accessibility, others would prefer hardware wallets because of enhanced security and the list goes on. So this question will of course lead to many answers and carefully looking at them, you will agree with what I pointed out. In my own case, I think hardware wallet is enough for me and of course mobile wallets as well.
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