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Author Topic: Does the name of a Cryptocurrency determine its growth ?  (Read 642 times)
krishnapramod
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August 31, 2017, 06:01:24 PM
 #21

When we watch out for cryptocurrencies ,we also check the uniqueness behind its name and logo possibly : ) at times and it now seems like it really truly does matter in the growth of the Cryptocurrency at times.

Read More=> https://zycrypto.com/name-cryptocurrency-determine-growth/

Yeah, a unique name which is easy to pronounce and a professional logo does have an impact, gives a good first impression, but the growth of a cryptocurrency isn't dependent on its name alone, but its utility, concept, what idea/community does it support/represent, what industry does it target, what is the growth prospects of that industry.

For example, Dogecoin was an apt name with doge logo for a coin which represented the doge community, Shiba Inus. So basically both name and concept matters.

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August 31, 2017, 06:14:18 PM
 #22

When we watch out for cryptocurrencies ,we also check the uniqueness behind its name and logo possibly : ) at times and it now seems like it really truly does matter in the growth of the Cryptocurrency at times.

Read More=> https://zycrypto.com/name-cryptocurrency-determine-growth/
In my opinion, I don't think that the name of a certain project can determine the growth of that project. You might find that the name sounds goods but the technology isn't on point. I think the idea and technology behind every project will determine its growth and popularity.

Are you willing to invest in a coin if the name of it is "ScamCoin"? LOL.

I think branding is also important not only in crypto, but in other business as well. Naming a good coin that will struck in their mind is good, but we should also look at who are the people behind it as well. But a unique and catchy name will be a good way to start to attract investors into your project. We don't have to look further, "Bitcoin" for sure will really attract more people as opposed to ScamCoin or PutinCoin or TrumpCoin so say the least.
If the technology behind the so called 'ScamCoin' is impressive, I guess I will just have to give it a try. 90% of cryptocurrencies that are existing, mostly their names don't have a meaning. But we follow them just because of the idea, the team behind, or their technology. In my opinion, the name doesn't matter.

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August 31, 2017, 06:22:19 PM
 #23

When we watch out for cryptocurrencies ,we also check the uniqueness behind its name and logo possibly : ) at times and it now seems like it really truly does matter in the growth of the Cryptocurrency at times.

Read More=> https://zycrypto.com/name-cryptocurrency-determine-growth/

Yeah, a unique name which is easy to pronounce and a professional logo does have an impact, gives a good first impression, but the growth of a cryptocurrency isn't dependent on its name alone, but its utility, concept, what idea/community does it support/represent, what industry does it target, what is the growth prospects of that industry.

For example, Dogecoin was an apt name with doge logo for a coin which represented the doge community, Shiba Inus. So basically both name and concept matters.

The name at that time was a joke. The whole coin was. And it's success was a fad.
How can you claim the coin was successful when ow is dead buried and the coins are one by one finding their way to doggie heaven.

And the coin had no "concept". What concept was behind it?

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August 31, 2017, 06:48:10 PM
 #24

I think that only a name could not determine the growth of a crypto currency.There are many more factors which determines its success.But the name could act as an added benefit for that currency.For example,we don't know why satoshi decided to give his crypto currency name as Bitcoin.But it was catchy and we could not consider now any other name than bitcoin which could best suit it.Just like a well decorated shop first attracts the customers,but only survives if it delivers the customers satisfaction.Same is the case with crypto currency.Name could attract an investor but it would only succeed if it has a good road map,huge marketcap and big investors.
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August 31, 2017, 07:31:50 PM
 #25

When we watch out for cryptocurrencies ,we also check the uniqueness behind its name and logo possibly : ) at times and it now seems like it really truly does matter in the growth of the Cryptocurrency at times.

Read More=> https://zycrypto.com/name-cryptocurrency-determine-growth/

Yeah, a unique name which is easy to pronounce and a professional logo does have an impact, gives a good first impression, but the growth of a cryptocurrency isn't dependent on its name alone, but its utility, concept, what idea/community does it support/represent, what industry does it target, what is the growth prospects of that industry.

For example, Dogecoin was an apt name with doge logo for a coin which represented the doge community, Shiba Inus.So basically both name and concept matters.

The name at that time was a joke. The whole coin was. And it's success was a fad.
How can you claim the coin was successful when ow is dead buried and the coins are one by one finding their way to doggie heaven.

And the coin had no "concept". What concept was behind it?


It was a simple example about an old altcoin which still ain't dead and got some initial popularity because of its unique name, quite easy to understand, guess you didn't get it. Would have used some other latest cryptocurrency as example.

When did I claim that Dogecoin was successful?

So basically both name and concept matters, in the general sense. The concept behind Dogecoin was quite simple, it represented the doge community, nothing technologically unique about it. Yeah, it started as a joke currency, but still ain't dead, it isn't backed by technology, but only by the community.

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August 31, 2017, 07:36:55 PM
 #26

A good Name is obvious important. People spend alot of time thinking for a good and catchy name . The name usually should describe about the product making it more attractive to investors

   
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August 31, 2017, 08:59:59 PM
 #27

I usually don't care about the name but when I see some coins with a stupid name that you are not sure if it is just a joke or something else, be sure I skip it

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August 31, 2017, 09:03:56 PM
 #28

I usually don't care about the name but when I see some coins with a stupid name that you are not sure if it is just a joke or something else, be sure I skip it
Some coins needs to make sense, when it's name seems to be unique or simple yet attractive ot can attract more buyer of that coin, thpugh it will depend to the purpose of such coin.

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August 31, 2017, 10:29:12 PM
 #29

Crypto currency means encrypted currency. This name uniquely suits the digital currency, because it is based on the technology of blocking, the most reliable technology in terms of information security. It's not for nothing that some countries, such as Ukraine, use blocking technology in various industries to protect their information from hacking, etc. (in this case, the block is used to store data of the state land cadastre and record land lease transactions).

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August 31, 2017, 10:46:04 PM
 #30

When we watch out for cryptocurrencies ,we also check the uniqueness behind its name and logo possibly : ) at times and it now seems like it really truly does matter in the growth of the Cryptocurrency at times.

Read More=> https://zycrypto.com/name-cryptocurrency-determine-growth/

I don't believe that! I have never chosen any crypto currency based on its name, rather I looked for the technological superiority and the developer team behind it. Also kept a close tab on the seed capital information. It's never in the name. Rather the sustainability of a coin depends on their marketing strategy, technical innovation and good will to make it stronger.

The name and logo is a part of branding, which catch some eyes initially. But in the long run, it doesn't really matters. The positivity around that currency matter the most, at least for me!

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August 31, 2017, 11:23:50 PM
 #31

It is not about the name of the cryptocurrency that determines its growth because it is about the project or what is the goal of the cryptocurrency. If the cryptocurrency has a good vision and also projects for the future and goals then they will have a growth to their price and that is what most of the investors look at. They look at the inner core of the project and not only the name.

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September 01, 2017, 05:56:13 AM
 #32

I guess so. People woudn't like buying a coin that sounds funny or a name that tells that they haven't allot time  to even think about it. It might sound scammy.

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September 01, 2017, 06:50:30 AM
 #33

no i really don't think the name of an altcoin can contribute to its growth. although a bad name can prevents its growth without a doubt.
for example you can not call a coin: ShitCoin, GayCoin, PumpCoin,... (these actually exist for real!!) and expect them to rise and become something!

for example you can never expect to walk into a shop and see the sign saying "ShitCoin is accepted here" Cheesy
but a name like Bitcoin is something that can grow and be adopted.


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September 01, 2017, 08:27:58 AM
 #34

A good Name is obvious important. People spend alot of time thinking for a good and catchy name . The name usually should describe about the product making it more attractive to investors
I agree, it is important indeed. I've been reading a book "Subliminal" by L.Mlodinow and found out there about some psychological experiments which made it clear that people care about the names a lot more than they think. For a name to be good is has to be simple. I mean, one must be able to easily pronounce it. Waves and bitcoin are good examples. Furthermore, it is better for the name to be a bit sophisitcated as well, so that we don't think it is something too simple. Ethereum is perfect because it is easy to pronounce + it provides us various connotations.


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September 01, 2017, 08:56:39 AM
 #35

Well the name of brand comes before anything else, it should be catchy and if not then how come everyone will be able to remember the name, and I was watching the Mc Donald's documentary, in that too the same thing was said about the brand name as it is really helpful in mouth publicity.
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September 01, 2017, 09:02:58 AM
 #36

I think it matters. You want something that sounds nice and looks good.
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September 01, 2017, 09:13:42 AM
 #37

We all see that re-branding of any currency really affect it positively. Logo, name and such underestimated things are as important as product itself.

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September 01, 2017, 09:46:24 AM
 #38

We all see that re-branding of any currency really affect it positively. Logo, name and such underestimated things are as important as product itself.

I agree with your views. Good brand name and logo are part of marketing.

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September 01, 2017, 09:51:34 AM
 #39

When we watch out for cryptocurrencies ,we also check the uniqueness behind its name and logo possibly : ) at times and it now seems like it really truly does matter in the growth of the Cryptocurrency at times.

Read More=> https://zycrypto.com/name-cryptocurrency-determine-growth/

I think it might help, because it might gather more attention to the coin, but in the end it will never be enough. A coin must have potential in order to get successful. It can't just rely on it's cool name, or logo. I think you will need to see work done on every aspect of the coin, so it's website, logo, name, and all those design and marketing aspects must be good, but without it's utility and technical potential, it will not survive. Given all the competition in crypto, I guess a good coin must have it all these days, including a good name.


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alyssa85
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September 01, 2017, 10:15:22 AM
 #40


For example, Dogecoin was an apt name with doge logo for a coin which represented the doge community, Shiba Inus. So basically both name and concept matters.

The name at that time was a joke. The whole coin was. And it's success was a fad.
How can you claim the coin was successful when ow is dead buried and the coins are one by one finding their way to doggie heaven.

And the coin had no "concept". What concept was behind it?


The "concept" was whole units. So 1 doge instead of 0.00000045. People don't like dealing with decimals.

Also, there was the inflation aspect - it was meant as a joke in that it was totally opposite of bitcoin's earnest deflation, but it definitely had a psychological impact in that people were willing to tip doge where they weren't willing to tip bitcoin.

Which proved economists were right when they said inflations encourages people to spend while deflation encourages people to hoard.

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