Topic: How to know a good crypto. - page 2. (Read 439 times)

Yes the white paper is a good factor when checking for a good ico or cryptocurrency.
But also a white paper might be packaged with juicy offer and amazing opportunity but all this could just be an unrealistic idea and could still end up as a failure or scam

that is opinion oriented mostly
i personally categorize ETH as a shitcoin because it is centralized, it had a premine and an ICO, it is not immutable, and it has lots of bugs and exploits.
and anything else that you categorize generally under "shitcoins" has good projects in it too. they are unpopular but they are a lot better than coins like ETH!

It's a relatively simple flowchart:

Is Crypto BTC or ETH? --> Yes --> "Good Crypto"™
      |
      |
      v
     No
      |
      |
      v
  Shitcoin™

I would tend to agree with you on this regarding what is crypto, unfortunately only BTC and ETH are through my filter.

Regarding how to recognize a good crypto is more complicated. First thing that is important is to know what is not a good crypto, when you manage to make that distinction then you can move on. Good crypto can be good for one person and bad for other person. It all depends what your goal is if we look at that question from a bit wider angle.

Some people call bad crypto a good crypto, simply because it serves their purpose and makes them money for example.

Neither of Blockchain or Bitcoin is unimportant but people like to focus on things that have connection with money. Only best ICOs will survive in bear market and sometimes i think recession is important for knowing the difference between good and bad ones.

Agree, there is one simple rule, if you really understand technology you know that there is one original crypto which is Bitcoin then thousands copy-paste of it and then Ethereum which is completly different than Bitcoin.
We have TWO real cryptos. Rest is science-projects, fraud projects and nothing more.

Definitely the team is probably the most important thing when you search for a good project. Because a good team can work even with a bad product if they have the required skills and experience to promote it to the world in a good way. One more important thing is to look and read all information about the project. A good project will explain everything to its investors and will have a plan for everything. They are prepared, know what's expecting them and have solutions for anything that may show up on the road

The white paper is by far the most important determinant of a project’s seriousness. It should be comprehensive, thorough, and explain the technology and purpose of the coin well. Other assets can include videos, blog posts and other contributions from the team.I agree with your points.

I saw today by coincidence like two or three which were focusing on the exact same thing, seems to be a trend going up recently. Which is pretty cool.

But yeah ICO's are extremely risky. Even if you're smart or a good trader doesn't mean that you will be able to tell correctly the vast majority of times which ones are not scam or going to fail. Really hard to predict at least with the fails especially, even when some scams are well disguised.

As long as you're not into a scam there is still a chance, a possibility of getting some profits.

yes currently i also found many interesting ICOs witch focused not on Payments like bitcoin but based on blockchain so they are not against bitcoin.
But as i saw last 3 years most ICQs are failing or end in scam.


regards

I would like to know how too, but it is mostly depend on luck, I think I could find some promising ICO with amazing white paper, decent roadmap, powerful devs team, and superb tech, but that will account for sheer 5% of a successful ICO? And luck is very vague explanation, may be timing, the market condition and some unknown that play a major rate into a good ICO, I would say you trying to bet on one good ICO, good luck with that, you may get better luck by betting on 100-200 ICO.

I agree with you I have found a lot of ico bounties that are very promising even some are released in the market but that does not guarantee that the ico can run well and succeed because besides the energy and thought that teamwork brings out it is also very important

It is not an easy thing to determine a good crypto, because nowadays more people make it only to seek a momentary profit that not even a little becomes fraud. factors that you say like good web design and ads that are made as if they look glittering, really can be manipulated by the creator. but I have a separate way to determine that crypto is good and I can follow it. The first is to see the bounty manager whether he is already known or at least has a credible account. seeing all the teams that are moving in crypto, at least they have to be involved on LinkedIn and have been there for a long time and there are interactions. I admit that the way I do it will also not guarantee that it will get the best, but at least minimize the fraud that will be accepted. Finally I saw and strongly believed that luck from ourselves became one of the points that could not be released.

You will all agree with me that these days there are so many cryptos and icos, tokens ongoing which makes it very uneasy to determine the fake ones from the real ones. One factor to identify a genuine crypto is not the many adverts, nice web designs and wonderful crafted whitepaper. Of course we all know whitepapers can be manipulated and even copied or just drafted to do a presentation but inwardly doesn't underline the very identity of such projects
These are few things to consider to identity the cryptocurrecy
1. The team involved in that project. The progress or failure of a crypto is majorly bothered on the responsibilities of the team. If there are no right team members ready to sacrifice their time, efforts and energy to the success of the project, then it is bound to fail. Most cryptocurrecy are majorly fronted by the CEO and one of few persons.
2. What are the qualifications of the team. Getting a novice or mediocres is a proof that the project will fail. Every team must have experts and professionals who have experience or have worked at certain levels and have adequate knowledge of cryptocurrecy
3. What are the motives of the team. If an ICO, token project is centered on greed, that means all they want to do is raise money and make money alone and leave the investors in the cold.
4. The project must not be run alone by the founder. There are many projects where the founder is the one who receives payments, comments, does all the marketing, sales and things that others need to do. There is progress and success in diversity. And getinf specialists in various fields are important.
5. I have noticed most cryptocurrencies do not have any good product to offer but this coin has great value in the exchange or market while cryptocurrencies with great and wonderful product and use cases are not even having great value in prices. Why because most of these coins without workable products do hype their prices and do pump and dump. But these cryptocurrecies with nice and good products take their time to grow.
6. We must be careful of the scams that go on in crypto currency. Yes it has come to stay but we must be very careful so we don't fall into the hands of projects run by greedy people.

The emergence of cryptocurrecy is a wonderful experience. It will continue to gain momentum as more cryptocurrecies emerge from time to time