Branding is how marketing works and they acquire the best adds offered to become more attractive and sellable to the community. If you are running a business and especially if you want to get known, you will certainly be doing something to raise the name of your business. Unfortunately, this is how evil people scam innocent individuals and emptied their pockets after falling into their traps.
That is why I encourage everyone not to just focus on their ad but rather weigh more on their feedback and experience reviews because this will tell us how this project works. It is our basis of analysis to whether we are going to push through or withdraw our interest. We have to remember that for thousands of coins in the market, only a few of them are working so well while the majority are scams.
Topic: Don't fall for the "Beauty premium" of some coin/site (Read 359 times)
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A crypto can also enjoy beauty premium from influencers who if they are able to back it up can easily get her followers to invest into it, and can cause bubbles that's driven by hypes leading to increased interest and investment regardless of the actual utility or value of the asset.
In summary what you're trying to say is that newbies should forget about investing in altcoins which isn't a bad advice because "Beauty premium" is being used by every altcoins to draw attention to their projects. Without attention altcoins are not going to get investors because nobody wants a boring investment that isn't being talked about. This makes people to only get attraction for trending altcoins because they associated popularity with project that will do well but don't know that the more hype a project is getting without anything to sustain that hype is the faster the project is going to die because people don't waste time to move on to the next best thing they think about.
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The beauty premium is a strategy that works in terms of branding your project in a manner that gives it an appealing reputation but that doesn't make those project feasible. Regardless of how well branded a site is or which famous person it's linked with, don't always trust it 100%. It could be Beauty and well appealing but still end up being a scam project.
Altcoins use airdrop and micro tasks to grow the audience of their social channels so this can also be said to be beauty premium. Having to based your investment criteria on how well the roadmap of an altcoin is designed and outlined won't get you the most profits. A website having the best graphics and attractive adverts might only be doing that because that's all they can offer. Whenever you have accumulate Bitcoin to your satisfaction and you want to gamble with altcoins just know, they're all the same and are only in the market for one thing which is price speculation so you don't have to believe
in any bullshit they will be trying to sell to you but just make your profit.
What is seen indeed is what is sold.
For example, if we go to the clothes market, the clothes that the shopkeeper is praising the most, or the clothes that everyone is buying, our eyes go to that and we also want to buy them. Similarly, when new coins come in the market and are going up rapidly, most people start buying the coins, and when they suddenly start to fall, many people lose a good amount of money. Yes, this is my personal experience this happened to me too when I was new in the market.
I bet on a coin and lost around $2,000 at once then I realized that all that glitters is not gold. And this is the crypto market, one should think a hundred times before investing money here, especially in meme coins. Many times I bought coins which never went up and my money was lost but it is also true that man learns from his mistakes, only by experience results are achieved. We prevent others from what we have suffered and advise for what we have benefited from.
The thing is that many people will not believe something unless they experiment it themselves, so even if we were to tell them the majority of the meme coins out there are scams, when they see so many people investing in them, this gives them the false belief there is safety on the numbers, and if there are so many people investing in those coins then they cannot be so bad, only to realize later on that they were wrong, but such a late realization will cost them a massive amount of money.For example, if we go to the clothes market, the clothes that the shopkeeper is praising the most, or the clothes that everyone is buying, our eyes go to that and we also want to buy them. Similarly, when new coins come in the market and are going up rapidly, most people start buying the coins, and when they suddenly start to fall, many people lose a good amount of money. Yes, this is my personal experience this happened to me too when I was new in the market.
I bet on a coin and lost around $2,000 at once then I realized that all that glitters is not gold. And this is the crypto market, one should think a hundred times before investing money here, especially in meme coins. Many times I bought coins which never went up and my money was lost but it is also true that man learns from his mistakes, only by experience results are achieved. We prevent others from what we have suffered and advise for what we have benefited from.
Let us put it this way. People need to learn their own lessons in order to understand what is really going on in this market. Without first hand experience, it would be hard for them to accept such fact that most projects are not here for long-term. Most will be short-lived and as soon as their respective developers cashed out their share, they are gone.
Now, let us have a brief look at cmc, just checking the long list of alts will give you about ten thousand alts and more. How many of them do you really know and are really doing good in the market? Most traders or just regular crypto users are familiar with top 20 alts. What will happen to the others? This is why they are mostly forgotten in exchanges.
Source: https://coinmarketcap.com/?page=101
What is seen indeed is what is sold.
For example, if we go to the clothes market, the clothes that the shopkeeper is praising the most, or the clothes that everyone is buying, our eyes go to that and we also want to buy them. Similarly, when new coins come in the market and are going up rapidly, most people start buying the coins, and when they suddenly start to fall, many people lose a good amount of money. Yes, this is my personal experience this happened to me too when I was new in the market.
I bet on a coin and lost around $2,000 at once then I realized that all that glitters is not gold. And this is the crypto market, one should think a hundred times before investing money here, especially in meme coins. Many times I bought coins which never went up and my money was lost but it is also true that man learns from his mistakes, only by experience results are achieved. We prevent others from what we have suffered and advise for what we have benefited from.
The thing is that many people will not believe something unless they experiment it themselves, so even if we were to tell them the majority of the meme coins out there are scams, when they see so many people investing in them, this gives them the false belief there is safety on the numbers, and if there are so many people investing in those coins then they cannot be so bad, only to realize later on that they were wrong, but such a late realization will cost them a massive amount of money. For example, if we go to the clothes market, the clothes that the shopkeeper is praising the most, or the clothes that everyone is buying, our eyes go to that and we also want to buy them. Similarly, when new coins come in the market and are going up rapidly, most people start buying the coins, and when they suddenly start to fall, many people lose a good amount of money. Yes, this is my personal experience this happened to me too when I was new in the market.
I bet on a coin and lost around $2,000 at once then I realized that all that glitters is not gold. And this is the crypto market, one should think a hundred times before investing money here, especially in meme coins. Many times I bought coins which never went up and my money was lost but it is also true that man learns from his mistakes, only by experience results are achieved. We prevent others from what we have suffered and advise for what we have benefited from.
Like a stunning lady entering the room, everyone goes crazy. Natural and human, but not always clever. Same with crypto. A shiny new coin promises the moon, and people go crazy. They throw money at it without thinking, like guys purchasing drinks for that gorgeous lady
You know, beauty fades. A hot crypto currency can quickly cool. You must be smarter. Don't believe the hype. Research the tech, team, and value. The most important things in life aren't always pretty. Sometimes the best finds are the ones nobody notices you had to dig for. The same for crypto
Be educated, discerning, and avoid the hype. Invest on value, not just appearance
What is seen indeed is what is sold.You know, beauty fades. A hot crypto currency can quickly cool. You must be smarter. Don't believe the hype. Research the tech, team, and value. The most important things in life aren't always pretty. Sometimes the best finds are the ones nobody notices you had to dig for. The same for crypto
Be educated, discerning, and avoid the hype. Invest on value, not just appearance
For example, if we go to the clothes market, the clothes that the shopkeeper is praising the most, or the clothes that everyone is buying, our eyes go to that and we also want to buy them. Similarly, when new coins come in the market and are going up rapidly, most people start buying the coins, and when they suddenly start to fall, many people lose a good amount of money. Yes, this is my personal experience this happened to me too when I was new in the market.
I bet on a coin and lost around $2,000 at once then I realized that all that glitters is not gold. And this is the crypto market, one should think a hundred times before investing money here, especially in meme coins. Many times I bought coins which never went up and my money was lost but it is also true that man learns from his mistakes, only by experience results are achieved. We prevent others from what we have suffered and advise for what we have benefited from.
You can always ride these coins for a short while and cash in whatever there is to cash in from them. You don't necessarily need to be there for the entire course of its lifetime. Personally, I think altcoins like these are created for the sole purpose of getting more money to the devs and their team's pockets in order to invest into other things. It's like a stepping stone, we don't really need thousands of altcoins to help us achieve anything significant or ease our daily lives.
If I were you, I'd still trade some of these 'beautified' coins to make money and not get too attached to what they can offer. I van always use the profits to invest more in bitcoins or create more money using the same method anyways.
If I were you, I'd still trade some of these 'beautified' coins to make money and not get too attached to what they can offer. I van always use the profits to invest more in bitcoins or create more money using the same method anyways.
This is absolutely true, they hire better designers than developers and they think that they can get away with it. That's the thing, you could make a token that is the base thing, like zero innovations, just 10 minute copy paste and nothing more, and in the end we are seeing how it could move further.
Whereas, if we know what we are doing then we will not fall for these crap and we will know that how great it looks means nothing and what matters is the audit that they will get, if their code is innovative and great and they add something then it would mean that it could worth something. All those amazing websites, amazing social media posts and all that will not make any token a successful one and we should probably avoid all of those.
Whereas, if we know what we are doing then we will not fall for these crap and we will know that how great it looks means nothing and what matters is the audit that they will get, if their code is innovative and great and they add something then it would mean that it could worth something. All those amazing websites, amazing social media posts and all that will not make any token a successful one and we should probably avoid all of those.
Like a stunning lady entering the room, everyone goes crazy. Natural and human, but not always clever. Same with crypto. A shiny new coin promises the moon, and people go crazy. They throw money at it without thinking, like guys purchasing drinks for that gorgeous lady
You know, beauty fades. A hot crypto currency can quickly cool. You must be smarter. Don't believe the hype. Research the tech, team, and value. The most important things in life aren't always pretty. Sometimes the best finds are the ones nobody notices you had to dig for. The same for crypto
Be educated, discerning, and avoid the hype. Invest on value, not just appearance
One thing that we fail to recognize is that, packaging sells more than the product itself. A good coin would have to have properly packaged itself for investors to come in, after having also taken into consideration the ethos of operations or modus operandi . You know, beauty fades. A hot crypto currency can quickly cool. You must be smarter. Don't believe the hype. Research the tech, team, and value. The most important things in life aren't always pretty. Sometimes the best finds are the ones nobody notices you had to dig for. The same for crypto
Be educated, discerning, and avoid the hype. Invest on value, not just appearance
Bitcoin has had to develop over the years by branding and rebranding itself as much as other exchanges has undergone and such is seen when we are directed to update our systems os or the app itself.
The beauty premium may have to be even more visible to the eyes that has experienced scam projects before and have lived to tell the tale and many sites requesting debit and credit card credentials many at times to get the best service more often than not, don't deliver much other than debit and debit and debit the connected cards for upgrades and what's not.
We've seen how dogecoin that initially came as a joke gained significant after Elon musk came into the equation causing it to gain value even though it lacked unique technological advantages. Same happened for tap swap that's currently enjoying the beauty premium of the Solana blockchain and is getting all hyped up.
One can only understand this by making research to have room to knowledge that not all coins that are trending in the market is good to invest, but when their is no knowledge people will just go for coins based trend.
We've seen how dogecoin that initially came as a joke gained significant after Elon musk came into the equation causing it to gain value even though it lacked unique technological advantages. Same happened for tap swap that's currently enjoying the beauty premium of the Solana blockchain and is getting all hyped up.
The beauty premium is a strategy that works in terms of branding your project in a manner that gives it an appealing reputation but that doesn't make those project feasible. Regardless of how well branded a site is or which famous person it's linked with, don't always trust it 100%. It could be Beauty and well appealing but still end up being a scam project.
The beauty premium is a strategy that works in terms of branding your project in a manner that gives it an appealing reputation but that doesn't make those project feasible. Regardless of how well branded a site is or which famous person it's linked with, don't always trust it 100%. It could be Beauty and well appealing but still end up being a scam project.
I don't care how the website of a project looks like, as long as it doesn't look plagiarise, the ideas looks great and well presented as the ideas they have and the team are not scam, the rest are just secondary because this is what really matters in a project. This trend started when layer 1 became the hot thing in crypto, Solana website looks too lit and clean, same with Internet computer protocol, Near protocol looks like glass, even Fantom looks polish but what happen later isn't what we expected I think.
Webiste doesn't build ideas but we should pay attention to domains, it's very important. When I see something like Xyz, and all those penny domains, I try to avoid them as possible. In most instances, they are website for fun tokens and nothing serious but they looks fine with empty details, some of them even have ideas stolen from one projects or the other just to scam people.
Like a stunning lady entering the room, everyone goes crazy. Natural and human, but not always clever. Same with crypto. A shiny new coin promises the moon, and people go crazy. They throw money at it without thinking, like guys purchasing drinks for that gorgeous lady
You know, beauty fades. A hot crypto currency can quickly cool. You must be smarter. Don't believe the hype. Research the tech, team, and value. The most important things in life aren't always pretty. Sometimes the best finds are the ones nobody notices you had to dig for. The same for crypto
Be educated, discerning, and avoid the hype. Invest on value, not just appearance
You know, beauty fades. A hot crypto currency can quickly cool. You must be smarter. Don't believe the hype. Research the tech, team, and value. The most important things in life aren't always pretty. Sometimes the best finds are the ones nobody notices you had to dig for. The same for crypto
Be educated, discerning, and avoid the hype. Invest on value, not just appearance
Beauty premium is a concept that's mostly related to the preference or bias that's given to individuals with a good look over their counterparts.
And does not seem to work in shops.
The moment people need to buy something they don't care much for the site, they care for the product. Their security, the price to quality ratio,
The optical aspect of a website ultimately cannot persuade anyone if the person does not wish to invest.Investment sites are devout of information. Their name speaks for them.
Altcoins usually pull up strong base as in a large community in as much as their is some level of potential in the project that will make them want to partake in the investment.These communities can be found on different platforms like X (Twitter), Facebook and Telegram, many more but the real base of communities is mainly on the Telegram and a few investors often falls into the trap of believing that a large number of users in their platform signifies that the project is worth investing.
Altcoins are many but not many of them are captivating to pull up a large community. When we invest, we need to take it seriously and make research, not just we invest immediately because this is what our instincts are saying.Those social media sites you mention can also be called as a community already but indeed there are also communities or groups under it. They choose those because many people are using them already and it's easy for them to gather there and talk things that interests them. Telegram is specialized in instant messaging but having a community is also possible here. What more, is it's decentralized, no wonder why many also like it, especially those who have a criminal mind. Number of users doesn't signify anything because it can still be fake out easily.
Yeah that's a very good point. Nowadays as people have became so materialistic thats why they just see the beautiful branding of the projects and that's enough to make them to invest in that project. It shouldn't be like that due this the good projects which can't afford heavy brandings are made aside.
Fundamentals is the most important aspect that should be looked after in order to make the investments so that the people who doesn't the positive work can be appreciated.
Just like they say “do not judge a book by its cover”. Some projects may look too simple but its utility is what matters the most. We need to review those intently instead of just basing on what looks good and what doesn’t look good. Fundamentals is the most important aspect that should be looked after in order to make the investments so that the people who doesn't the positive work can be appreciated.
As long as it can be used properly, its interface wouldn’t matter too much. Of course it could be improved but you have to consider that just because it’s not as advanced as others it means that it’s a bad project already.
Correct, and it's how we can used a project in real life, not just for aesthetics or simply put, for pure hype and pump and dump coins. And I think investors are getting smart now, they really look for the coin/site or project and what it can bring in the table for them not just for the profit itself.
But there are projects that are really design by developers to be like this, I mean p&d and after that, they will left the project dead and then be de-listed by exchanges. And the thing is that the crypto space is already saturated, so we should really be careful of selecting which project to invest and what utility they can offer and be used by us.
Whether the "devs" spend a lot on marketing or not, the fact is that there's almost no innovation coming from any of the new coins and most are just trying to ride the wave of various trends (like AI). Ugh. I hate to even think about all the shitcoins that keep being churned out, much less the suckers who willingly support them by mining or buying them.
Part of the heavy marketing is because of a lack of innovation. They have nothing new to sell, so they make it enticing for people, and what's funny is that some people who buy those coins know that they'll amount to nothing, but they see an opportunity to make profits. It's more of a gamble and hearsay. No real market/technical analysis is involved. They believe the more popular the coin, the higher the chance it will "pump", but that's always never the case.
Funny how a lot of these people call themselves "crypto investors", meanwhile, in reality, they're just "crypto gamblers". They pick coins and hope that the coins do x10 so they can take profits...
Altcoins spend a lot in marketing and marketing can take any form. This is one reason I've never been moved by popular altcoins.
I think back in 2016 or so I was writing that most altcoins were destined for the Yobit 1-satoshi graveyard. And I never thought that there would be so many of them still being created in 2024.
Whether the "devs" spend a lot on marketing or not, the fact is that there's almost no innovation coming from any of the new coins and most are just trying to ride the wave of various trends (like AI). Ugh. I hate to even think about all the shitcoins that keep being churned out, much less the suckers who willingly support them by mining or buying them. Though Yobit is no longer one of the popular exchanges, my belief stands that nearly all of the shitcoins out there are going to zero.
The Black Pill is real. Lookism is real. I don't know why do you have to describe good(or misleading) influencer marketing with the term "Beauty Premium". Altcoins cannot be "beautiful" or "ugly". Some shitcoins/altcoins are marketed and promoted in a smarter way than others, but at the end of the day, all shitcoins are what they are... shit. Unfortunately most people around the world are gullible and naive, so they decide to buy a shitcoin/token/NFT just because their favorite social media influencer had recommended this shitcoin as "the next big thing".
Some people buy shitcoins, because they want to use the "pump effect" and gain some short term profits. Can we really blame them for this?
Probably yes. Such financial bubbles always end with the last ones, who bought the shitcoin paying for the financial gains of the "early investors".
Some people buy shitcoins, because they want to use the "pump effect" and gain some short term profits. Can we really blame them for this?
Probably yes. Such financial bubbles always end with the last ones, who bought the shitcoin paying for the financial gains of the "early investors".
Yeah that's a very good point. Nowadays as people have became so materialistic thats why they just see the beautiful branding of the projects and that's enough to make them to invest in that project. It shouldn't be like that due this the good projects which can't afford heavy brandings are made aside.
Fundamentals is the most important aspect that should be looked after in order to make the investments so that the people who doesn't the positive work can be appreciated.
Just like they say “do not judge a book by its cover”. Some projects may look too simple but its utility is what matters the most. We need to review those intently instead of just basing on what looks good and what doesn’t look good. Fundamentals is the most important aspect that should be looked after in order to make the investments so that the people who doesn't the positive work can be appreciated.
As long as it can be used properly, its interface wouldn’t matter too much. Of course it could be improved but you have to consider that just because it’s not as advanced as others it means that it’s a bad project already.
Beauty premium is a concept that's mostly related to the preference or bias that's given to individuals with a good look over their counterparts. It's the reason why good-looking individuals experience higher chances of getting a job over their less attractive counterparts. It's not just applicable to the job sector but also applies to the crypto space.
Some crypto enjoys beauty premium based on market sentiment rather than it intrinsic value. For instance, a crypto with strong community, large number of followers, good marketing strategy, high visibility and that's well branded with appealing user interface can easily attract investors and influence investment decision even when it's a possible scam project.
A crypto can also enjoy beauty premium from influencers who if they are able to back it up can easily get her followers to invest into it, and can cause bubbles that's driven by hypes leading to increased interest and investment regardless of the actual utility or value of the asset.
We've seen how dogecoin that initially came as a joke gained significant after Elon musk came into the equation causing it to gain value even though it lacked unique technological advantages. Same happened for tap swap that's currently enjoying the beauty premium of the Solana blockchain and is getting all hyped up.
The beauty premium is a strategy that works in terms of branding your project in a manner that gives it an appealing reputation but that doesn't make those project feasible. Regardless of how well branded a site is or which famous person it's linked with, don't always trust it 100%. It could be Beauty and well appealing but still end up being a scam project.
Yeah that's a very good point. Nowadays as people have became so materialistic thats why they just see the beautiful branding of the projects and that's enough to make them to invest in that project. It shouldn't be like that due this the good projects which can't afford heavy brandings are made aside.Some crypto enjoys beauty premium based on market sentiment rather than it intrinsic value. For instance, a crypto with strong community, large number of followers, good marketing strategy, high visibility and that's well branded with appealing user interface can easily attract investors and influence investment decision even when it's a possible scam project.
A crypto can also enjoy beauty premium from influencers who if they are able to back it up can easily get her followers to invest into it, and can cause bubbles that's driven by hypes leading to increased interest and investment regardless of the actual utility or value of the asset.
We've seen how dogecoin that initially came as a joke gained significant after Elon musk came into the equation causing it to gain value even though it lacked unique technological advantages. Same happened for tap swap that's currently enjoying the beauty premium of the Solana blockchain and is getting all hyped up.
The beauty premium is a strategy that works in terms of branding your project in a manner that gives it an appealing reputation but that doesn't make those project feasible. Regardless of how well branded a site is or which famous person it's linked with, don't always trust it 100%. It could be Beauty and well appealing but still end up being a scam project.
Fundamentals is the most important aspect that should be looked after in order to make the investments so that the people who doesn't the positive work can be appreciated.
Beauty premium is a concept that's mostly related to the preference or bias that's given to individuals with a good look over their counterparts. It's the reason why good-looking individuals experience higher chances of getting a job over their less attractive counterparts. It's not just applicable to the job sector but also applies to the crypto space.
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If I'm not wrong, you are talking about a specific case of the broader halo effect (in fact, this is the first time I read the term you mentioned "Beauty premium", and after this I doubt that I will forget it, so thanks for sharing).
Quote from: Wikipedia
A person's attractiveness has also been found to produce a halo effect. Attractiveness provides a valuable aspect of the halo effect to consider because it can be influenced by several specific traits.[42] These perceptions of attractiveness may affect judgments tied to personality traits. Physical attributes contribute to perceptions of attractiveness (e.g., physique, hair, eye color). For example, someone who is perceived as attractive, due in part to physical traits, may be more likely to be perceived as kind or intelligent. The role of attractiveness in producing the halo effect has been illustrated through a number of studies. Recent research, for example, has revealed that attractiveness may affect perceptions tied to life success and personality.[43] In this study, attractiveness was correlated with weight, indicating that attractiveness itself may be influenced by various specific traits.
IMO, this premium or effect is nothing more than another of many irrational injustices that permeate our contemporary culture, so I agree with your advice of not falling for it when it comes to cryptocurrencies either.
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