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Author Topic: How in the FUCK are you supposed to know what's legit?  (Read 3456 times)
tokeweed
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December 29, 2014, 08:54:36 AM
 #21

https://www.coingecko.com/en can help.  check out developer's ratings.  the higher the rating is the higher the chance it's not a scamcoin.

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December 29, 2014, 09:01:11 AM
 #22

I don't think it's really possible to know in the earliest stages. Unfortunately, the earliest stages are also when most of the profits are to be made. Think of how lucky the initial investors of NXT were when NXT was launched roughly one year ago. 1 BTC invested into the NXT IPO would have made you worth over $5 million during its peak. Then think of how NXT looked at the time when it was first announced. It had a single shady, paranoid, anonymous dev posting from a newbie account who admitted that he had "little understanding of economics" and who decided to go AWOL weeks into its launch. Not only that but it also had no screenshots, no whitepaper, and not even a working beta.
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December 29, 2014, 09:03:14 AM
 #23

I'll help you telling what's legit, ta-da... commercial break: NeosCoin Smiley

Bitshares - advanced decentralized exchange and asset platform.
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December 29, 2014, 09:04:00 AM
 #24

I don't think it's really possible to know in the earliest stages. Unfortunately, the earliest stages are also when most of the profits are to be made. Think of how lucky the initial investors of NXT were when NXT was launched roughly one year ago. 1 BTC invested into the NXT IPO would have made you worth over $5 million during its peak. Then think of how NXT looked at the time when it was first announced. It had a single shady, paranoid, anonymous dev posting from a newbie account who admitted that he had "little understanding of economics" and who decided to go AWOL weeks into its launch. Not only that but it also had no screenshots, no whitepaper, and not even a working beta.

he could be one of the satoshis for all we know.. or bcnext could be the satoshi group trolling us all over again.

wait... what!?! 5 MILLION DOLLARS??

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December 29, 2014, 09:15:25 AM
 #25

It's not easy man.
Use the force.

Look Ripple, 6 month ago was shit, now number 2 in coinmarketcap.Making deals with banks.Legit? don't know, but is money.
Stellar maybe the next? good team there.

Really difficult to know in early stages.The NXT story is a good one,but that doesn't mean that will be repeated.Times are changing in cryptoland.

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December 29, 2014, 09:20:20 AM
 #26

I don't think it's really possible to know in the earliest stages. Unfortunately, the earliest stages are also when most of the profits are to be made. Think of how lucky the initial investors of NXT were when NXT was launched roughly one year ago. 1 BTC invested into the NXT IPO would have made you worth over $5 million during its peak. Then think of how NXT looked at the time when it was first announced. It had a single shady, paranoid, anonymous dev posting from a newbie account who admitted that he had "little understanding of economics" and who decided to go AWOL weeks into its launch. Not only that but it also had no screenshots, no whitepaper, and not even a working beta.

he could be one of the satoshis for all we know.. or bcnext could be the satoshi group trolling us all over again.

wait... what!?! 5 MILLION DOLLARS??

73 people invested a total of 21 BTC into the NXT IPO. The maximum anyone could invest was 1 BTC. NXT reached a peak market cap of about $100 million in June 2013. Therefore, someone who had invested 1 BTC would have 1/21 of $100 million - or roughly $5 million.

Profit-wise, it was the most successful IPO in crypto history (and probably always will be) and is part of the reason why there are so many IPOs still popping up today trying to emulate its success. Of course, if you had tried to sell your 50 million NXT for BTC or fiat, you definitely wouldn't have gotten anywhere near $5 million since all that selling would have depressed the NXT price significantly.
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December 29, 2014, 09:23:13 AM
 #27

I don't think it's really possible to know in the earliest stages. Unfortunately, the earliest stages are also when most of the profits are to be made. Think of how lucky the initial investors of NXT were when NXT was launched roughly one year ago. 1 BTC invested into the NXT IPO would have made you worth over $5 million during its peak. Then think of how NXT looked at the time when it was first announced. It had a single shady, paranoid, anonymous dev posting from a newbie account who admitted that he had "little understanding of economics" and who decided to go AWOL weeks into its launch. Not only that but it also had no screenshots, no whitepaper, and not even a working beta.

he could be one of the satoshis for all we know.. or bcnext could be the satoshi group trolling us all over again.

wait... what!?! 5 MILLION DOLLARS??

73 people invested a total of 21 BTC into the NXT IPO. The maximum anyone could invest was 1 BTC. NXT reached a peak market cap of about $100 million in June 2013. Therefore, someone who had invested 1 BTC would have 1/21 of $100 million - or roughly $5 million.

daaaaaammmmnnn... 

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December 29, 2014, 09:33:06 AM
 #28

stick to known Dev..such as Laudney, David Zimbeck and few others. Those coins will rise beyond control.

Stay away from new coins created by newbie Dev.

Don't keep your eggs in one bucket

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December 29, 2014, 09:44:56 AM
 #29

daaaaaammmmnnn... 

Not all of the original investors had the foresight to hodl and dump during the peak though. Some sold part or all of their stake while the prices were still extremely cheap.

For example, in this thread, someone had invested 0.05 BTC (worth $50) into the IPO and later sold it all for 2.5 BTC in total. Had he waited, it would have been worth $250,000:

Well, just wanted to make myself more angry at myself than I have been for the past year. Always thinking about this big mistake. How much I could have had, if I had not been naive and greedy. An investment of 0.05BTC, about 50$ at the time, gave me the following. When NXT released, I thought nothing of it, and sold for I think about 2.5BTC in total. I could have done all of the things I struggle to do now because of lack of funding (businesses, services, etc)

My mistake will haunt me for the rest of my life.

Sad
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December 29, 2014, 09:48:07 AM
 #30

daaaaaammmmnnn... 

Not all of the original investors had the foresight to hodl and dump during the peak though. Some sold part or all of their stake while the prices were still extremely cheap.

For example, in this thread, someone had invested 0.05 BTC (worth $50) into the IPO and later sold it all for 2.5 BTC in total. Had he waited, it would have been worth $250,000:

Well, just wanted to make myself more angry at myself than I have been for the past year. Always thinking about this big mistake. How much I could have had, if I had not been naive and greedy. An investment of 0.05BTC, about 50$ at the time, gave me the following. When NXT released, I thought nothing of it, and sold for I think about 2.5BTC in total. I could have done all of the things I struggle to do now because of lack of funding (businesses, services, etc)

My mistake will haunt me for the rest of my life.

Sad

Majority of people can't see that far..majority wants overnight gain..they can't even see few days forward let alone months.

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December 29, 2014, 10:03:15 AM
 #31

daaaaaammmmnnn...  

Not all of the original investors had the foresight to hodl and dump during the peak though. Some sold part or all of their stake while the prices were still extremely cheap.

For example, in this thread, someone had invested 0.05 BTC (worth $50) into the IPO and later sold it all for 2.5 BTC in total. Had he waited, it would have been worth $250,000:

Well, just wanted to make myself more angry at myself than I have been for the past year. Always thinking about this big mistake. How much I could have had, if I had not been naive and greedy. An investment of 0.05BTC, about 50$ at the time, gave me the following. When NXT released, I thought nothing of it, and sold for I think about 2.5BTC in total. I could have done all of the things I struggle to do now because of lack of funding (businesses, services, etc)

My mistake will haunt me for the rest of my life.

Sad

Majority of people can't see that far..majority wants overnight gain..they can't even see few days forward let alone months.

actually yeah, i know the feeling.  i was told about BTC back in 2010 when it was cheap but didn't really bother looking it up.  i was in the process of downloading the blockchain then got impatient cos my internet was slow so i quit and uninstalled. it was amir taaki who told me about it believe it or not.    

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bitdraw
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December 29, 2014, 10:55:59 AM
 #32

take a close look.. are they overpromising, is the dev team legit in terms of btctalk history, are they just combining the latest hype buzzwords in a nice pdf or is there actually something. do they provide a git link to the source code etc. etc.

the more you can find out the better. also dont expect an ipo price to increase a lot after the ipo is over. basically you are financing a dev team to do work, why would the value increase a few days after an ipo is closed? it doesnt make that much sense because they cant develop in such a short time frame.

tbh... just do a lot of research and dont listen to twitter hype

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December 29, 2014, 11:14:38 AM
 #33

take a close look.. are they overpromising, is the dev team legit in terms of btctalk history, are they just combining the latest hype buzzwords in a nice pdf or is there actually something. do they provide a git link to the source code etc. etc.

the more you can find out the better. also dont expect an ipo price to increase a lot after the ipo is over. basically you are financing a dev team to do work, why would the value increase a few days after an ipo is closed? it doesnt make that much sense because they cant develop in such a short time frame.

tbh... just do a lot of research and dont listen to twitter hype

Scam coins often have a newbie dev who presents a roadmap of unbelievable features he promises to develop using funds from a huge premine. The dev crashes the coin's value by dumping the premine and then disappears without developing any of the unbelievable features he promised.
unusualfacts30
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December 29, 2014, 11:19:33 AM
 #34

daaaaaammmmnnn...  

Not all of the original investors had the foresight to hodl and dump during the peak though. Some sold part or all of their stake while the prices were still extremely cheap.

For example, in this thread, someone had invested 0.05 BTC (worth $50) into the IPO and later sold it all for 2.5 BTC in total. Had he waited, it would have been worth $250,000:

Well, just wanted to make myself more angry at myself than I have been for the past year. Always thinking about this big mistake. How much I could have had, if I had not been naive and greedy. An investment of 0.05BTC, about 50$ at the time, gave me the following. When NXT released, I thought nothing of it, and sold for I think about 2.5BTC in total. I could have done all of the things I struggle to do now because of lack of funding (businesses, services, etc)

My mistake will haunt me for the rest of my life.

Sad

Majority of people can't see that far..majority wants overnight gain..they can't even see few days forward let alone months.

actually yeah, i know the feeling.  i was told about BTC back in 2010 when it was cheap but didn't really bother looking it up.  i was in the process of downloading the blockchain then got impatient cos my internet was slow so i quit and uninstalled. it was amir taaki who told me about it believe it or not.    

I'm in same boat.  Smiley

I looked at the size of blockchain and cancelled it half way back when it was $5

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December 29, 2014, 11:21:02 AM
 #35

daaaaaammmmnnn...  

Not all of the original investors had the foresight to hodl and dump during the peak though. Some sold part or all of their stake while the prices were still extremely cheap.

For example, in this thread, someone had invested 0.05 BTC (worth $50) into the IPO and later sold it all for 2.5 BTC in total. Had he waited, it would have been worth $250,000:

Well, just wanted to make myself more angry at myself than I have been for the past year. Always thinking about this big mistake. How much I could have had, if I had not been naive and greedy. An investment of 0.05BTC, about 50$ at the time, gave me the following. When NXT released, I thought nothing of it, and sold for I think about 2.5BTC in total. I could have done all of the things I struggle to do now because of lack of funding (businesses, services, etc)

My mistake will haunt me for the rest of my life.

Sad

Majority of people can't see that far..majority wants overnight gain..they can't even see few days forward let alone months.

actually yeah, i know the feeling.  i was told about BTC back in 2010 when it was cheap but didn't really bother looking it up.  i was in the process of downloading the blockchain then got impatient cos my internet was slow so i quit and uninstalled. it was amir taaki who told me about it believe it or not.    

I'm in same boat.  Smiley

I looked at the size of blockchain and cancelled it half way back when it was $5

Were there any lightweight wallets like multibit back then?
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December 29, 2014, 11:29:49 AM
 #36

well you look at the fundamentals.
as far as believing promises go - take a wild guess

Bismuth - New Language, Interpretation Engines, Free Set of DAPPs https://bitcointalk.org/index.php?topic=1896497
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December 29, 2014, 02:32:31 PM
 #37

Seriously...between each community fluffing their own coin and the haters on the "neutral" boards shitting on every coin that's just past it's prime, how are you supposed to know what coin is the most prudent investment?

I understand that "research" is worthwhile, but there's only so much you can learn from a coin's website.

You don't need to do any research. Just assume that 99.9% of new alt coins are scams or shitcoins unless they demonstrate something original or new. Oh, and stick with investing in bitcoin and you'll likely do much better.

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December 29, 2014, 03:07:43 PM
 #38

If less is promised, more will be delivered. Underpromise, overperform is a good strategy in a lot of projects, including crypto. The fancier the onepager with 100's of cool feat's and app's coming up, the bigger the possible dissapointment.

Second consideration is the reputation/trackrecord, former decisions/work of the devs. How have they handled previous situations/projects/issues.

Another good indicator is looking at what type of bct-members or core devs support the project. The ones who have a long history and good reputation here are experienced in the sector and thus there views are worth listening to. Obviously you should always do your own thinking, but it's good to take into consideration. There's a lot of 'support' from members who are centrally controlled (paid shills/trolls). See the bobsurplus debacle.

Premine/instamine etc is an obvious one. The link was posted here before.


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December 29, 2014, 03:14:35 PM
 #39

If there's IPO/ICO it's 99.99% percent scam.
If there's more than 0.1% premine it's scam.
If there's not a roadmap, what's done so far, it's scam.
If it was instamined it's scam.
If the ANN topic is self moderated it's probably scam.

There're lots of other things, you need to check out the whole ann page to understand it.


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December 29, 2014, 03:30:27 PM
 #40

daaaaaammmmnnn...  

Not all of the original investors had the foresight to hodl and dump during the peak though. Some sold part or all of their stake while the prices were still extremely cheap.

For example, in this thread, someone had invested 0.05 BTC (worth $50) into the IPO and later sold it all for 2.5 BTC in total. Had he waited, it would have been worth $250,000:

Well, just wanted to make myself more angry at myself than I have been for the past year. Always thinking about this big mistake. How much I could have had, if I had not been naive and greedy. An investment of 0.05BTC, about 50$ at the time, gave me the following. When NXT released, I thought nothing of it, and sold for I think about 2.5BTC in total. I could have done all of the things I struggle to do now because of lack of funding (businesses, services, etc)

My mistake will haunt me for the rest of my life.

Sad

Majority of people can't see that far..majority wants overnight gain..they can't even see few days forward let alone months.

actually yeah, i know the feeling.  i was told about BTC back in 2010 when it was cheap but didn't really bother looking it up.  i was in the process of downloading the blockchain then got impatient cos my internet was slow so i quit and uninstalled. it was amir taaki who told me about it believe it or not.    

I'm in same boat.  Smiley

I looked at the size of blockchain and cancelled it half way back when it was $5

Were there any lightweight wallets like multibit back then?

i was told there was multibit.  i said "ok, thanks." , then proceeded to turning my pc off. lolz.  i didn't find the time to find out what bitcoin was nor did i have the patience.

i mean who would have known...  the thing to get from it is to always keep an open mind.

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