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Author Topic: What is the most important in a cryptocurrency project?  (Read 3259 times)
kevin.
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September 19, 2017, 12:06:55 PM
 #21

Product, product and one more time Product. Smiley

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CryptoPorco
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September 19, 2017, 01:30:43 PM
 #22

I would say how "useful" there project is gonna be for real world usage, transparency and a good background team.. for example, I just heard about Dragonchain and was interested cuz its from Disney.. so I started looking into it.. Im not an expert but it looks pretty promising with a platform and other funcitons that could actually be of some real use to the world imo, but its pretty complex for me in depth... not sure I understand it all. What you guys think?
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September 19, 2017, 02:22:10 PM
 #23

To me it's definitely not about the team, it's much more important to have a good idea and to plan a well-thought project based on it. The members of the team need to be checked thoroughly if that is possible to do, but sometimes the project can be not really open about the people who stand behind. In this case, you need to rely on the information provided to you.

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September 20, 2017, 02:00:52 AM
 #24

Hello all,
What is according to you more important in a cryptocurrency project between the idea and the team?
Would you invest in a project if there are only 3-5 persons or would you rather trust a big team?

I have those questions in mind when comparing other projects such as Yahoo or Snapshat. They were a small group at the beginning and grew over time.

I would say they are both very important, however, I would prefer the small team for easier communications. 
MANCRYPTOS
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September 20, 2017, 02:17:35 AM
 #25

Idea is improtant, but if there is no professional team any idea won`t be alive. And you should understand, that some ideas sounds good, but not all of them able to be done nowadays. And if ofcourse marketing and design are importand for those who want`s to pupm their money, becouse in two simillar project user will choose that one, which looks more attractive and smart.

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September 20, 2017, 04:56:04 AM
 #26

To me it's definitely not about the team, it's much more important to have a good idea and to plan a well-thought project based on it. The members of the team need to be checked thoroughly if that is possible to do, but sometimes the project can be not really open about the people who stand behind. In this case, you need to rely on the information provided to you.

But you are wrong. It is all about the team. There are many cryptocurrency "projects" that have collected millions in their ICOs but have not made or released anything good yet because their team "sucks". Another example of a Bitcoin company that maybe has a bad team is 21.co. Remember them? After being marketed as the Bitcoin start up with the largest funding from VCs, what have they done? Nothing. They go to pivot after pivot until they will burn through all their funding.


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kanayaTabitha
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September 20, 2017, 08:38:26 AM
 #27

Hello all,
What is according to you more important in a cryptocurrency project between the idea and the team?
Would you invest in a project if there are only 3-5 persons or would you rather trust a big team?

I have those questions in mind when comparing other projects such as Yahoo or Snapshat. They were a small group at the beginning and grew over time.
I think why not!
depending on the project manager is very widespread or not.
and I prefer a growing team and a sensible project.  Wink

aoluain
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September 20, 2017, 09:38:03 AM
 #28

Cryptocurrency or Blockchain technology has the potential to
replace or disrupt big businesses.

I firmly believe Blockchain technology can play a huge role
in changing how things are done online and it can happen
without the general public knowing its Crypto.

So what is important in a project?

Useage - Something which will be adoptable by many, a real
world workable crypto solution or alternative to traditional businesses

Clarity - Making it clear what the project is about

Roadmap - A proper and realistic timeline for each step in the project,
not over-promising and under-delivering

Timing - being able to deliver each stage of the project on time
as per the timeline

Funding - Proper funding structure without somehow coming across
as being a scam project. I mentioned in a previous thread that something
like Kickstarter might work. Funding on a pledge basis!



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sirrius_a_b
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September 20, 2017, 12:59:18 PM
 #29

Solve a problem that people have, in a simpler way than before, aim much simple. So simple that it makes no sense to use the old ways.

If the solution to the problem you are solving is just an incremental solution to the already existing ones, then most likely you will fail.

It is better to spend quite some time on the white board before even thinking to get near a keyboard to code.

Solve a problem in a way that, when you explain it to knowledgeable people they would react somethink like 'I wish that existed' or 'If only' or 'I want in'.

Take care and keep going Smiley

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September 22, 2017, 12:28:21 AM
 #30

I agree with that one person, It's all about having a good product if you have that all the rest will fall into place.
timX5
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September 22, 2017, 12:40:29 AM
 #31

Project has to solve a real problem, or create an alternative solution to an existing problem which has been solved by someone else.  This solution has to be enticing enough for users to change its habits. Also no matter how big or small project is team is everything!  There are a lot of great ideas out there but very few people who can actualize them.  Size of the team makes no difference.   
Michaelsch
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September 22, 2017, 01:14:43 AM
 #32

A product is very important, but at the moment you need to decide if you wanna invest or not there could be just a project of product. That's why I would prefer to be sure that there is a great team, be confident in their experience and reputation
allycn
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September 22, 2017, 02:58:34 AM
 #33

It has to be something I would use, so I really look at token applicability, preferably outside of their platform (or at least if there are plans for that) and I also look at mass appeal.

These are the 3 things I look for in an ICO (in no specific order).
- Token applicability.
- Concrete idea with realistic goals (I prefer if it is a product / project that is already out there).
- Solid team.


Michaelsch
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September 22, 2017, 05:00:38 PM
 #34

It has to be something I would use, so I really look at token applicability, preferably outside of their platform (or at least if there are plans for that) and I also look at mass appeal.

These are the 3 things I look for in an ICO (in no specific order).
- Token applicability.
- Concrete idea with realistic goals (I prefer if it is a product / project that is already out there).
- Solid team.



how would you define the applicability of tokens?
bazar111
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September 23, 2017, 08:01:40 AM
 #35

It should be indeed useful for people.

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September 23, 2017, 08:05:11 AM
 #36

It should be indeed useful for people.

This is the first thing that I look into it the usefulness for the people in the long run. How can it solve the problem which people are facing currently and then comes the team. Having a right balance of team members is equally important to run the company for longer time. Also Vision is what makes a difference in time of crisis or difficult situation.

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September 23, 2017, 05:07:49 PM
 #37

The most important thing I look out for is the business idea. It must be innovative and able to disrupt the market.

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September 24, 2017, 03:12:59 PM
 #38

An idea that can be utilized by other crypto projects is a good thing to look for. For a project to succeed, the team behind it need to be committed and believe in their product! Of course, from the investor perspective, this can be very hard to gauge. If the developers have frequent and open communication with the community then it can be a positive sign.
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September 24, 2017, 05:07:54 PM
 #39

The most important thing for me is an innovative project with a developer updating his code frequently on github, transparency !

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September 24, 2017, 09:24:56 PM
 #40

Hello all,
What is according to you more important in a cryptocurrency project between the idea and the team?
Would you invest in a project if there are only 3-5 persons or would you rather trust a big team?

I have those questions in mind when comparing other projects such as Yahoo or Snapshat. They were a small group at the beginning and grew over time.

I think it need really  useful, practical and new; give people confidence in the platform and the development team of the project. One thing that is indispensable is that you need to build a community for it with campaigns like signature campaigns, media campaigns....

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