How does cryptocurrency success?

[Nawaf1989]

Hi Folks,
Today there are more than 1000+ cryptocurrencies in the market.
I was wondering why some of them success and some failure.

what do you think?

How does cryptocurrency success?

[1715180727]

1715180727

[1715180727]

1715180727

[1715180727]

1715180727

[1715180727]

1715180727

[1715180727]

1715180727

[creeps]

Hi Folks,
Today there are more than 1000+ cryptocurrencies in the market.
I was wondering why some of them success and some failure.

what do you think?

How does cryptocurrency success?

Basically people wants good project and those coin who succeed are the very best example of great service and technology. Imagine who will invest in a coin with a very least service. Cryptocurrency is clearly the future and in order for them to succeed they must be competitive when it comes to developing great system.

[qazgroup]

Good project with professional team with practical product that provides some utility and use case can be successful, most ideas will not provide much use cases for people so they can just go down in coming months.

[udayantha11]

Hi Folks,
Today there are more than 1000+ cryptocurrencies in the market.
I was wondering why some of them success and some failure.

what do you think?

How does cryptocurrency success?

Most of arw failure because of the project. Some projects no idea, nothing implemented so there are definitly get worse.

A coin has great team and great concept they go to the moon. For example you can see wabi 😋 , the team is very perfect and concept is very powerful.


If you going to invest in coin. We have to see everything. Otherwise its useless investment

[KryptoKai]

Filter out all the scams, pump and dumps, and s**tcoins, and you will be left with a handful of good ones. Look at the team, roadmap, and go for the ico's that will deliver a promising product. Otherwise, look at existing coins that are undervalued with potential pumps e.g LISK, NEO, etc..

[popeye95]

Hi Folks,
Today there are more than 1000+ cryptocurrencies in the market.
I was wondering why some of them success and some failure.

what do you think?

How does cryptocurrency success?

Nice concept, accepting and use by a wide range of users.

[kklz]

I like to analyse altcoins like an angel investors would analyse an early stage startup before a seed investment. It's also important to understand what the token/coin represents in their business model, since this is metaphorically your contract in terms of ROI.

So, basically you look for good startups. Team, background, market, value proposition, etc. Plenty of awesome materials in the internet about this.

Also, there are some basic sources of information that you always might want to look for:
_Official subreddit or place where the community is
A good topic is where a good discussions is, so always look for the comments and not only the topic itself. Find where the devs/team are and follow their posts.
_Official communication channels
Slack, Twitter, Telegram, Discord
_Official documentations
Whitepaper and Roadmap
_Official Github
The cherry on the cake, if you know what the heck is in there.

edit: Edited to add some sources of information.

[vv181]

Hi Folks,
Today there are more than 1000+ cryptocurrencies in the market.
I was wondering why some of them success and some failure.

what do you think?

How does cryptocurrency success?

Because some of the altcoins not created to be a susscesul project instead the owner is aiming to scam the user. And what defines how successful project is by watching the market reaction and how the potential of the project.

[jvdp]

Hi Folks,
Today there are more than 1000+ cryptocurrencies in the market.
I was wondering why some of them success and some failure.

what do you think?

How does cryptocurrency success?

Every altcoin has some changes in the project that means some of the companies are supporting to the altcoins. These altcoins are great success in the crypto market.
 Because MNC companies are spread to world wide market so automatically demand and values are increase in the market. This is the actual reason in the cryptocurrency.

[Fundalini]

First of all, a cryptocurrency needs to offer good tech--not some cloned, banal crap coin. With that, people will trust it and believe that it will offer benefit to them in the future. That is important since the trust of the people is what makes a currency valuable in the first place. That goes without saying that the developer needs to be competent as to always make the project a better version of itself.

[r.bhalla07]

I think the trust of people is what makes a curreny valuable in the first place and the people will trust it that is important.

[Siopao]

A project with a good idea and vision to improve more the lives of target market, backed up with a great team with one vision of achieving same goal will definitely make noise and can get the trust of people in cryptocurrency. It is important that the goal of the coin is imaginable and within the reach to become reality. While a failure can be rooted with a project that lack with 2 things 1) good vision and 2) a team workinh togethe to achieve it.

[Meepospammer]

Most cryptocurrencies which became succesful are those tokens backed-up by a good project. Aside from that, successful cryptocurrencies got a supportive community. The community is the one who gives a token its current value. Without a good community, a token will just be a token. A token without function is useless. Thus, it becomes a failure. We should also take note that most cryptocurrencies fail not because their vision isn't great, it's just because these coins were just used to gain profit by those greedy devs.

[mostkey]

Most cryptocurrencies which became succesful are those tokens backed-up by a good project. Aside from that, successful cryptocurrencies got a supportive community. The community is the one who gives a token its current value. Without a good community, a token will just be a token. A token without function is useless. Thus, it becomes a failure. We should also take note that most cryptocurrencies fail not because their vision isn't great, it's just because these coins were just used to gain profit by those greedy devs.

Crypto failures that we see very often are when projects that support those tokens do not have gaps with needs, so not many people glance at the project. although it has been supported by a great promotional team the project still and the token will be garbage

[lolchina]

Reason behind the success is that cryptocurrency offers a solution for some kind of problem,or at least a cheaper way of doing something instead.Good devs that produce on time and on schedule are needed for currency to sucsed.Decentralisation is also need to that currency can evolve and adapt on the needs of the society

[kryptqnick]

Good project with professional team with practical product that provides some utility and use case can be successful, most ideas will not provide much use cases for people so they can just go down in coming months.

I disagree. This seems rationally true, yes, but I guess this was the case a long time ago, when the new things were appearing and becoming popular because of being useful. Basically, this is ethereum success story. Today we have too many things and it's hard to say how much needed they are. The team can be great but the project can still fail due to the lack of captured interest. I think what matters most nowadays is advertising and active development covered by the news.

[Red-Apple]

first you need to define "success" because there is no clear definition somewhere for this word when you use it for a cryptocurrency.

most people consider being successful as having a higher price or getting pumped a lot.
well that is true if you define cryptocurrencies as temporary investments that you want to use to make money in short term. in which case enjoy the pump and dumps and 99% of the altcoins are successful!

but is money the only thing that matter?
i say no. the thing that defines a successful cryptocurrency is when they start acting as a crypto "currency"! meaning when they are really adopted as a currency and you see real merchants in real world accept them as payment.
so far i only know bitcoin is being adopted. then on a very smaller scale litecoin and on a much smaller one some other altcoins.
in this case i say only 5% of altcoins are successful!

[joselitobayagbag]

Successful coins has products in real life,utility or services that maybe uselful for our daily life,most of failed coins has no use at all.

[marks1976]

Hi Folks,
Today there are more than 1000+ cryptocurrencies in the market.
I was wondering why some of them success and some failure.

what do you think?

How does cryptocurrency success?

The success has so many definitions, You can try to determine the success of ico through various factors. just like ROI since ico and market capitalization or the product itself. Some are developing the project seriously and another failure project just tries to make it as a joke.

[beerlover]

Hi Folks,
Today there are more than 1000+ cryptocurrencies in the market.
I was wondering why some of them success and some failure.

what do you think?

How does cryptocurrency success?

I believe it is all about the faith from the people. Success is building with the trust of the people and when people started believing something success is not far for that specific thing.

People cannot invest in all the currencies as you mentioned that there are more than 1000 coins in the markets, so it is not possible for the people to invest in all because of the limited resources. That’s why only those succeed in which people come forward to trust and invest the most.

In cross perspective, when more number of people will be adopting cryptocurrencies, I guess, even non trust worthy coins also may find its success as people just look for their returns but not the reason and need of a coin.