How important is a community behind a crypto project?

[DikkieD]

I agree. Right now a solid community is very important. To bad, often because sizeable investments are involved, communities can turn toxic in seconds, so I think it's also up to admins/community managers to keep things pleasant, fair and tidy.

Some communities I join are hostile from the first 2nd, others are like buddies I've known for years.

Most serious projects absolutely value their community, which is a great thing nowadays. The community can also make or break the projects in its infancy.....or indeed, pull the project through hardships.

Just love crypto

[temilade200]

Community is one of the most important driver to every cryptocurrency project. A project with a  good number as well as active community members, has every tendency to succeed. Even if the project does not have enough money to back it up, a strong community will always do what money is not capable of doing sometimes.

[leetlezee]

Hello all,

I came across this article that talks about the importance of a community backing a project, how important do you think it is? Do you think they can get by through large marketing budgets instead? and do you agree with the article?

https://medium.com/crowdholding-innovation-platform/why-do-you-need-to-build-a-loyal-community-for-crypto-projects-14b9207608c2

Community support for a project is essential for its longevity. The people who like the coin are likely to be effective marketers to increase the community size. And marketing can help build a community, but the whole point of marketing a crypto project is to sell people on the project. The rash of high ROI coins attracts people who want to make a quick buck, but as long as it looks like things are going south, everyone bails and the projects crashes. But coins that have a solid plan for the future that attract people on the basis that they think the coin will last will attract a community that can keep it going.

But then of course, you have coins like Doge coin that don't really have a point, but it sure got a community, and it's still going strong.

[bardclowncrypto]

I think it is vital and for some reason, a lot of crypto projects don't focus on it, they rather rush their project to raise money without realising that if they spent 3 months working on building a brand, community and hype they can be 2 or 3 times more successful.

I guess that they are worried that the crypto sphere might change so rapidly so I understand. Great read though, followed your medium channel and can't wait for more interesting articles.

[almiani]

it seems slack has been abandoned by new projects in building community, they prefer to use telegram for their community, but little regretted by the bounty telegram, they are not really enthusiastic about the project other than just want to become bounty participant

[HadadC]

Of course agree with that. Think a system , we see front page of systems but its important side is that ; behind of project. Its very important

[ferrybitcoin.1996]

~This is especially helpful to the engineers who also get a morale boost. But all in all the personnel working on the coin is most crucial for product to be successful.

I think it is vital and for some reason, a lot of crypto projects don't focus on it, they rather rush their project to raise money without realising that if they spent ~

Community can be boomerang for the project itself, i mean when The Project in good trend, Community will boost you up with good reputation. Also promoting widely about your project. So it can be supportive.
But, in other case Community can kill your project, when they dont happy with your project, Bad Motion will come and stab you. Sudden, they can say your project is SCAM!

[karramov]

Everything is possible in the world of cryptocurrency. But don't believe everything I write here a lot of empty words. Is worth to think its head

[Noobaru]

We see some projects getting away with reaching their hardcap without doing any bounties or social marketing. That is because they have already established a strong name in the crypto community before delving into a crowdsale. But, for smaller, to the "crypto eye" unrecognizable projects, the community is very important, because it helps the project grow. I think it can't hurt in any case, if you have people discussing your project, because the word is getting around. Some say, any promotion is good promotion.

[ShadowBits]

Hello all,

I came across this article that talks about the importance of a community backing a project, how important do you think it is? Do you think they can get by through large marketing budgets instead? and do you agree with the article?

https://medium.com/crowdholding-innovation-platform/why-do-you-need-to-build-a-loyal-community-for-crypto-projects-14b9207608c2

I think it is more important that the community itself has a good outlook about all the projects in cryptocurrencies. It brings value to the whole aspects.

[shirackjs]

Community is definitely an important part of a project. Look at Bitcoin which survive after so many years, the community behind Bitcoin is supportive and help to spread words about Bitcoin.

[thend1949]

Community backing or support is very important because it keeps the people connected to the crypto. If many people are helping out promoting the project, it will give a positive note to investors. The word of mouth now is stronger than any news. The more people will talk positive about a project through blogs or any social media will best promote a project.

I have to agree. if the community behind a cryptocurrency project is not strong and united/connected then that project will mostly fail. It is the people who are investors in a project that make the project and it is what they say that others who have not invested in the project will believe and take from it. If the community does not believe in the project then the project is dead.

Community is the best venue to bring people together, and to support each other. It has a large number of audience  and resources to let the product and services, the crypto project, and the advocacy of everyone can be promoted. We are all part of many communities and this is where we can find real comfort in difficult times.

[kryptqnick]

I think community is very important because a large supportive community not only can be of help financially but also help in marketing & promotion of the coin. But apart from this support any bugs can be found out by them. This is especially helpful to the engineers who also get a morale boost. But all in all the personnel working on the coin is most crucial for product to be successful.

The community represents the interest behind a cryptocurrency in general, but it doesn't mean that the community is not happy with current prices. A good example of a coin, which didn't get much help of its very strong community is Dogecoin. It was one of the most used cryptocurrencies (I think it was #2 after btc) less than 2 years ago. People enjoyed using it for gambling purposes, because of it being cheap and fast. Thus, nobody was really interested in it growing and with time it was going down. It is important to note, that at that time Doge already didn't have any team supporting and developing the project. That's why a community needs to stand behind the project, but constant development is of more importance imo.

[Lewoll]

Community is as important as the development team and the project. Imagine this, a bad project can become successful if the community is strong and firm. Let's face it, many do not actually care about how good or bad the project is, just as long as they are earning and profiting from it, it's a go.

[Swati Kapoor]

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www.scidex.co
Telegram Group: https://t.me/SciDexOfficial

[Dart18]

How he put it is great.

Content is king, community is queen.

This is really cool. In telegram groups I have seen those who really supports their selected tokens and they are really into it.
Explaining further about the project to those who ask will give a lot of credit in the future for both investor and the owner of the business. Once that gets stronger then it will be easy to pull more.
Someone who could help explain everything will be a great help indeed.
Even small investors are important to every part of one business. Patience will also hold the key. We know there are those lazy people who dont want browsing back, explaining to them repeatedly should also be okay to the owner.

[Harley Quinn]

I think gauging of communities to see what they are keen to back is pretty informative. But you do have a point that bigger yet fewer investments can also drive a new coin or token to success. Some cost in exchange is better than none no? What do you think?

[TheDarkRide]

I think a community is the best way to judge a great token. It shows that people have faith in the token and they can help spread the word and market it for the startup.

Eventually, marketing budgets run out and although they might have created some hype, if they have not created a community that "sticks" then it will fail in the long run.

Moreover, a community can be a guideline where we should find the latest news or new update things regarding the project. It is a must to have community.

[SalmanMJ9]

In a immature market as crypto, community is one of the most important factors... Take a look at projects who didn't respect their community what happen to the price (recently Expery and Ink protocol)... Both lost their value since the community distrust them with their token metrics, sale, etc

[bitcoin27]

i think its very important because the community of the project will serve as a medium to spread the project to the other and public.