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Author Topic: How important is a community behind a crypto project?  (Read 4538 times)
elrugrim
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July 25, 2018, 07:48:31 PM
 #561

Community is very important because without it even the best project will not be needed to anyone.
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CryptoCoinArbitrage
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July 25, 2018, 08:05:00 PM
 #562

The success of the project depends much on the supporting community behind. A project will not reach it`s true potential if the community is not growing with it. Involvement of the community is also important as they can help with some ideas but also to feel that they are part of the project ( idea ) coming true.
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July 25, 2018, 08:07:04 PM
 #563

In my opinion it is very important. A good community supports the project and promotes it, if it is legit and the team is working hard on it.
On the other hand a community can also destroy a project, once it feels the developers are either too greedy or don't keep word on their deadlines.
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July 25, 2018, 08:41:35 PM
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 #564

Carefully examine the team and if you are satisfied with the project, but there are insoluble doubts about the team, I recommend not to work with this project.

1. Look at the profiles in social networks
 It is important to have links to social networks on the landing page in the section with the team, it is highly desirable that it be LinkedIn. Go to their profiles, look at the posts, the number of friends, photos, experience, do the profiles look real?

Now there is a lot of ICO, which offer various KYC services in the crypto industry, but so far a stable group of leaders has not been formed.

2. Make a search on photos in Google

Download team photos and search for pictures in Google. The scammers have such a common practice: adding fictional characters to the team section, they use presentable photos of third parties from the search or photo banks. Investigating ICO projects, I periodically finish work on this point ahead of time.

3. Talk to the team directly

If you have any questions about the ICO project, I recommend not to ask them in General channels, like telegram chats, there are special community managers who have a list of pre-prepared and extremely vague answers.

Better write to a team member who is directly related to the question. You will get a more authentic answer and once again check the adequacy of the team.

4. Look at the size of the command

Periodically I meet projects that collect tens and hundreds of millions of dollars, and in the team there are only five people: a couple of managers, a couple of technical specialists and that's all. Invest in such projects with care.

Even if these people are incredibly talented, and the idea is interesting, they simply can not physically create a working and successful project. They need marketing, PR, designers, lawyers, accountants, community managers, analysts, project managers.

Small teams are quite acceptable, but only for projects with small budgets.

5. How does the interaction take place within the team?

See how they work together, where they are physically in relation to each other. If everyone is in different cities and working remotely, then the project may have problems due to lack of communication. The ICO has a better chance of success during and after the ICO if most members work from the same city or office.

6. Is there a team of specialists in the niche of the project?

If the niche is specific, then the team should have specialists in this area. If, for example, the project raises funds for deep-sea research, then the team should have a specialist researchers, if a crypto exchange is created, then the team should have crypto traders. Otherwise, due to the lack of knowledge of the intricacies of the niche, the project too often will face unexpected obstacles and fail.



7. Experience and results in the crypto industry

Leaders, technicians and marketers should have experience in the crypto industry. The rules of the game are very different and even successful professionals from the usual areas of the economy need time to adapt to new realities.

8. International team is a good sign

There are many projects from Eastern Europe, Asia, Africa. In countries from these regions, English is not a native language, and there may be problems with international communication, therefore, it is important that the composition were people with native English. This is especially true for marketers, PR and community managers and specialists in relations with investors.
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July 25, 2018, 08:48:25 PM
 #565

A large community is very important if a project will successfully stand out. I mean the whole world can't be wrong so if a group of people choose to support you that means the project is doing something great and that will spark the interest of other onloookers that would want to be identified with something great.
Elseye
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July 25, 2018, 09:18:28 PM
 #566

In my opinion it plays a vital role because only community may pump/dump strongly a coin, or promote a project to an exchange, etc.

teosanru
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July 26, 2018, 08:54:00 AM
 #567

Coins work great when a community is working upon it as community work will make the coin price to grow. In the market scenario, the community behind a crypto project helps to get the particular coin its recognition as then only lots of investors will be going to work for it and will be ready to invest for it
The effect of the coin by the community determines the failure and success of the coin as you can really see the btc eth have a strong community working for them which has really got its recognition in the market attracting more investors to it.

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Mohizadja
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July 26, 2018, 09:00:21 AM
 #568

If the projects team supports its community than it is a good sign that the project will live for a certain time and it is worth for investment
When I search for good coins I look if there is any product is developed. If there is no product and only the idea I do not invest in such altcoins. I've invested in Revain before (yeah it was really good when it jumped to 3 $!!!) and now I found a new project where CEO from Revain is Chief advisor. The project name is FuturesCoin: https://bitcointalk.org/index.php?topic=4661230.0;topicseen
michaelcrypson
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July 26, 2018, 04:02:11 PM
 #569

Important, but not as important as people make out it to be. The product and token is far more valuable.
jfederkins
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July 27, 2018, 06:06:58 AM
 #570

As for me, community is the key element in the crypto project. Everything depends on the community there only. I think that this fact will be actual for a long time.
raahi
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July 27, 2018, 11:16:48 AM
 #571

The community or the team behind the cryptocurrency projects is one of the most important factors that let the whole team function if the team contains members that are aware of the current market position and white the product will fit the market needs they will possibly succeed
magicdave
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July 27, 2018, 06:46:11 PM
 #572

It's important, but not that important.

The product and team are far more important.
amadocuaresma
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July 27, 2018, 06:54:30 PM
 #573

I concur with this,More specifically,Community for me is the most ideal approach to comprehend the solid coin better,Its better approach to tune in and consider experienced individuals conclusions and perspectives about X coin or another project.We know an excessive number of good ventures with 0 success,which didn't have great pr managers...therefore It likewise gives one extra advantage,When we don't have sufficient energy to get the hang of something better it causes me to discover here basic definitions,business models,strategies,theories,etc.Anyway its simpler to comprehend examination of any coins from community(+search engine),Its better not just for us as a consumers,Its additionally the most ideal path for venture designers and for PR directors to end up their undertaking more effective.
taktik
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July 27, 2018, 08:31:42 PM
 #574

The community or the team behind the cryptocurrency projects is one of the most important factors that let the whole team function if the team contains members that are aware of the current market position and white the product will fit the market needs they will possibly succeed
in any case, if the product is in demand in the market and in the society, investors will also be much easier to invest. And this means that the development of the project will be much easier.
ngawethu1
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July 28, 2018, 12:28:13 AM
 #575

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

In my opinion, it plays an important part of a project. you could see the interaction between the employer team and the members.
But it's not at all. we have to consider their technology and products before making our investment.
docamvan1997
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July 28, 2018, 12:36:11 AM
 #576

Before analysing a project, i always see how large the community of project is. If large, it mean the project is well-knowed. Therefore it has a good chance to be successful.
kidd07
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July 28, 2018, 12:46:20 AM
 #577

The community or the team behind the cryptocurrency projects is one of the most important factors that let the whole team function if the team contains members that are aware of the current market position and white the product will fit the market needs they will possibly succeed
Crypto community has a big rule in a crypto project they are the one who supports.Your community are the building blocks for your business. By making organic, wholesome relationships, you can turn your community into life long customers.
republicrypto
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July 28, 2018, 12:51:00 AM
 #578

Before analysing a project, i always see how large the community of project is. If large, it mean the project is well-knowed. Therefore it has a good chance to be successful.

exactly,
because community is a group of people who always support the project,,
huge community behind the project will be very important for the project in the future
regards

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July 28, 2018, 01:02:09 AM
 #579

cryptoucurrency will die without community, for coins with their own network, there should be miners, traders and users. for tokens they should have holders. Bounty participants are community based of a token. It is a big mistake when a developers not pay the  bounty participants. The coins will be nothing in the market without community. the more community members the better the coin. I give example of coin with little community. Look at ATS ( authorship), the price is nothing in the market it is only worth 0.00000913 ETH, it is under ICO price. The investors will sell the coins at low price too.
Populous with huge bounty participants have higher price than other tokens. first time I think few bounty holders will sell at low price but not long. When the trade volume high , it will attract new traders to join instead low volume trading coins.
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July 28, 2018, 01:13:03 AM
 #580

I concur with a great deal of things composed on the article, and I additionally feel that a decent network is pivotal for the eventual fate of a task. To begin with, each financial specialist will most certainly observe what the network of the task is saying in regards to it. On the off chance that they are not faithful, and are not extremely content with it, at that point it will presumably be hard for any financial specialist to enter the market. Likewise, a great network could help advance the task in the event that they are extremely dedicated to it. I know this will be an awful case, yet simply perceive how ponzi plans function. They are useless without their locale advancing it. At long last a devoted network, that has faith in the undertaking will undoubtedly hold their coins, shares, wtv, when things turn sour, since they trust in it, and that is presumably sufficient to bring any task from it's fiery remains. For example, I believe it's unthinkable for bitcoin to ever go to 0, since it's work with a network of solid supporters, so if it's value drops, they will simply purchase more, since they trust in the venture.
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