[Advice] Starting a Crypto Project | Bitcointalksearch.org

braindeadgenius

jr. member

Activity: 115

Merit: 8

The best way to have a success project in crypto is bring real innovations in terms of tech and market adoption. Everything else is superficial and not necessary.
You can sell sh*t in a well dressed package (99% of crypto actually), or have a great project with standard t-shirt that nobody cares of until the tech becomes fungible and worth in real life because of the proper innovation brought by it.

You certainly need a good innovation to bring to the table. However, if you have no clear goals, if your goals constantly change, if you are un-organized, and the list goes on, then you have a high possibility of failing.

braindeadgenius

jr. member

Activity: 115

Merit: 8

Quote from: mdayonliner on March 24, 2018, 05:39:19 AM

Very good work I even checked the plagiarism LOL

Well constructive post I wish to send merit straight way, however I have added this on my waiting list. (archive)

Keep it up.

Thank you!

Yeah, I sat down and wrote this out based on the experiences I have had working with the teams that I have so far.

Quote from: Alone055 on March 24, 2018, 08:18:54 AM

I personally don't think that a team/project lacking any of these things can really make it through, unless they are extremely lucky, but I doubt luck would keep your business constant if you are not totally prepared for it yourself.

One of the teams I was working with was an established company who was claiming to be spending a lot, a LOT, of money on hiring, advertising / promoting, etc. but, communication was piss poor. When I was let go, they made up a bunch of things, and I was able to verify that things were lied about because I talked to another team member who was brought on board.

Alone055

full member

Activity: 1035

Merit: 200

I personally don't think that a team/project lacking any of these things can really make it through, unless they are extremely lucky, but I doubt luck would keep your business constant if you are not totally prepared for it yourself. You cannot run a business if you don't even have the basics set up perfectly. Its as simple as that.

These are some really nice pointers you posted for anyone working or will be working on any project.

mk4

legendary

Activity: 2716

Merit: 3817

Paldo.io 🤖

Quote from: braindeadgenius on March 23, 2018, 02:20:06 PM

Quote from: mk4 on March 23, 2018, 02:09:07 PM

A good and original post from a Jr member. Haven't seen that in a while. Here's 2 merits. +

Quote from: braindeadgenius on March 23, 2018, 01:22:50 PM

Set a project plan
- One thing I have seen in some of the projects is a lack of a true roadmap and set of goals to achieve. It is imperative that the goals are outlined and
  
  ......

What's funny is that, most of the people on most social media sites that have asked me advice on starting a cryptocurrency, doesn't even have a clear goal on what they want to make.

The conversation almost always goes like:

person: hey, I'm planning on creating and running my own cryptocurrency. Can you give me advice?
me: ok. First off, what kind of coin are you planning on making? for what purpose? specifications?
person: I just want to create my own coin, probably like bitcoin or ethereum
me:

I appreciate the merit!

My problem is, I know I have skills and ability to be a valuable asset. The problem is, I need to learn a lot, and I do not have a lot to show for what I can do. So, I'm stuck with teams with less experience, or, I'm in a bigger project right now. However, there is absolutely no communication. Stuff seems to be getting done, but a lot is left unanswered.

As an engineer, I strive for organization, clarity, ease of use, and many more aspects that apply to crypto as well. I try to do things methodically, and without repetition. Some people just don't get the concept.

You're very welcome. Tongue

Don't worry. Even though how good you are at a certain industry in the technology world, you always have something to learn as technology evolves so fast.

About your project: looks like you're probably overqualified for you group. Maybe address your complaint to them? Communication is definitely very important in any project, whether or not it'd be on the blockchain industry or not. If you don't attempt to address it soon, you're gonna have a lot of inevitable problems further into the project.[/list][/list]

mdayonliner

copper member

Activity: 630

Merit: 420

We are Bitcoin!

Very good work I even checked the plagiarism LOL

Well constructive post I wish to send merit straight way, however I have added this on my waiting list. (archive)

Keep it up.

braindeadgenius

jr. member

Activity: 115

Merit: 8

Quote from: paxmao on March 23, 2018, 08:37:45 PM

Quote from: braindeadgenius on March 23, 2018, 07:27:30 PM

Quote from: gorgi on March 23, 2018, 06:43:52 PM

I don't understand for what individuals want to do their blockchain.
If you want to do that for you school, pay with your classmates, you can make it.
But if you don't have competence in the crypto, then you have nothing to do in in the market among the giants.

Yes, and no. Look at what Zuckerberg was when he founded Facebook. Now, not everyone is a Zuckerberg. There are good ideas people have who may not be able to implement them. The problem comes with trying to do something without direction.

Most project smell of amateurism from miles away. The mediocre communication is just a symptom of a poorly managed project, but probably many other problems are likely to be there if that´s failing.

Two of the projects I'm working with are basically random people who either have ideas, or wish to make money. Like I said, I need to start somewhere, but you can feel the difference. There's another project I was a part of that stunk of bad communication, and I'm waiting to see how it plays out.

paxmao

legendary

Activity: 2226

Merit: 1589

Do not die for Putin

Quote from: braindeadgenius on March 23, 2018, 07:27:30 PM

Quote from: gorgi on March 23, 2018, 06:43:52 PM

I don't understand for what individuals want to do their blockchain.
If you want to do that for you school, pay with your classmates, you can make it.
But if you don't have competence in the crypto, then you have nothing to do in in the market among the giants.

Yes, and no. Look at what Zuckerberg was when he founded Facebook. Now, not everyone is a Zuckerberg. There are good ideas people have who may not be able to implement them. The problem comes with trying to do something without direction.

Most project smell of amateurism from miles away. The mediocre communication is just a symptom of a poorly managed project, but probably many other problems are likely to be there if that´s failing.

braindeadgenius

jr. member

Activity: 115

Merit: 8

Quote from: gorgi on March 23, 2018, 06:43:52 PM

I don't understand for what individuals want to do their blockchain.
If you want to do that for you school, pay with your classmates, you can make it.
But if you don't have competence in the crypto, then you have nothing to do in in the market among the giants.

Yes, and no. Look at what Zuckerberg was when he founded Facebook. Now, not everyone is a Zuckerberg. There are good ideas people have who may not be able to implement them. The problem comes with trying to do something without direction.

gorgi

newbie

Activity: 1

Merit: 0

I don't understand for what individuals want to do their blockchain.
If you want to do that for you school, pay with your classmates, you can make it.
But if you don't have competence in the crypto, then you have nothing to do in in the market among the giants.

braindeadgenius

jr. member

Activity: 115

Merit: 8

Quote from: mk4 on March 23, 2018, 02:09:07 PM

A good and original post from a Jr member. Haven't seen that in a while. Here's 2 merits. +

Quote from: braindeadgenius on March 23, 2018, 01:22:50 PM

Set a project plan
- One thing I have seen in some of the projects is a lack of a true roadmap and set of goals to achieve. It is imperative that the goals are outlined and updated as needed so the team, and clients, know what to look forward to. I have seen teams work by flying by the seat of their pants. It's not an effective way to get anything done.

What's funny is that, most of the people on most social media sites that have asked me advice on starting a cryptocurrency, doesn't even have a clear goal on what they want to make.

The conversation almost always goes like:

person: hey, I'm planning on creating and running my own cryptocurrency. Can you give me advice?
me: ok. First off, what kind of coin are you planning on making? for what purpose? specifications?
person: I just want to create my own coin, probably like bitcoin or ethereum
me:

I appreciate the merit!

My problem is, I know I have skills and ability to be a valuable asset. The problem is, I need to learn a lot, and I do not have a lot to show for what I can do. So, I'm stuck with teams with less experience, or, I'm in a bigger project right now. However, there is absolutely no communication. Stuff seems to be getting done, but a lot is left unanswered.

As an engineer, I strive for organization, clarity, ease of use, and many more aspects that apply to crypto as well. I try to do things methodically, and without repetition. Some people just don't get the concept.

mk4

legendary

Activity: 2716

Merit: 3817

Paldo.io 🤖

A good and original post from a Jr member. Haven't seen that in a while. Here's 2 merits. +

Quote from: braindeadgenius on March 23, 2018, 01:22:50 PM

Set a project plan
- One thing I have seen in some of the projects is a lack of a true roadmap and set of goals to achieve. It is imperative that the goals are outlined and updated as needed so the team, and clients, know what to look forward to. I have seen teams work by flying by the seat of their pants. It's not an effective way to get anything done.

What's funny is that, most of the people on most social media sites that have asked me advice on starting a cryptocurrency, doesn't even have a clear goal on what they want to make.

The conversation almost always goes like:

person: hey, I'm planning on creating and running my own cryptocurrency. Can you give me advice?
me: ok. First off, what kind of coin are you planning on making? for what purpose? specifications?
person: I just want to create my own coin, probably like bitcoin or ethereum
me:

braindeadgenius

jr. member

Activity: 115

Merit: 8

I have been involved in a number of projects in the early stages of development, and there have been a number of things I have noticed that either create roadblocks or extra work.

Communication
Top priority in any type of project, or any task, is of course communication. Without a clear understanding of what is going on, it is impossible to direct or work with the team. There are a couple variations of communication issues I have encountered on projects.

Complete lack of communication
- I have actually been a part of teams where there was a complete lack of communication. Working on a project is hard enough, but it's harder when the team does not communicate with each other, especially if you work in an advisory role and need information in order to advise. Teams needs to communicate in order to build the product, and to reduce work done twice because no one knew what was being done.
Team members contradict each other
- There have been projects I have worked on where one team members says they are doing one thing, but other members of the team say they are doing something else. The team needs to be on the same page and communicate what is going on so that there is no confusion. I have been a part of a project where I had to wait an extended period of time to get my contract because the team was not communicating information, and information received from differing members of the team contradicted each other.
Failure to follow through with communications
- If you are going to make promises or declarations on a project, or to team members, you need to ensure that you follow through with them. If you cannot do it, then you need to follow up with the parties involved and let them know why what was supposed to happen, did not happen.

Clear Goals
In order to understand the project and in order to communicate and be on the same page, there must be clear goals set forth for the project, the team, and individuals.

Set a project plan
- One thing I have seen in some of the projects is a lack of a true roadmap and set of goals to achieve. It is imperative that the goals are outlined and updated as needed so the team, and clients, know what to look forward to. I have seen teams work by flying by the seat of their pants. It's not an effective way to get anything done.
Don't do work you've already done
- I am a perfectionist. I always strive to make sure I get things done right the first time, instead of making it work and then going back to make it better. Start your project off by getting it set up the way you would need it for 200,000 users, even though you may only have 5,000 users to start. Allow your project to be easily expandable; code, servers, etc. The number one thing I have seen here is people unwilling to spend $20-40 a month to have a server set up properly and ready to be expandable. They buy the bare minimum to make it work, but I don't agree with this practice.

I'll add more to this list as I think more, but let me know your thoughts to my comments, or things I may have missed.

Topic: [Advice] Starting a Crypto Project (Read 207 times)