Topic: How to tell if a new coin is worth investing in! - page 2. (Read 379 times)

If it is having a differentiating factor, it can be a good bet. Like, there are some privacy coins which are suited for different type oof audience. Same way , if there is some other coin which is targeting some other problem being faced by crypto users, it can be success. Other factors matter as well though. Like the team behind the coin. You should do a thorough research about the team behind the coin. Most of the scam coins have imaginary people in their team as their end goal is to run away with the money invested by investors in the coin.

BTC is the benchmark in this field!
The reason why Binance has fewer scam projects is because of their strict vetting mechanism but also because of the expensive fees (scam projects, maybe he doesn't need to do a scam if there's enough money -lol).

Yes (this smacks of advertising -lol), I'll briefly elaborate on the basic concepts:
1. an unconventional consensus mechanism (for now I'll call it cooperative proof - perhaps something similar already exists; it's achieved by each participant throughout the network verifying each other, sharing performance and resources, etc.).
2. since it's a cryptocurrency, it should have a fast and easy transaction feature, we tried to implement instant transactions (I know many projects have been working on this, but we wanted to go down a different path, maybe the right one, possibly a labyrinth; gotta try right?) I have a preliminary idea documented in the whitepaper and we will verify its feasibility!
3. Modular design, building an independent core architecture (PolyKerma - many coins), where each function is independent, and can eventually form a complete "Lego", yes this is what my developer partner is doing at the moment (he's a good developer and experienced programmer).
Because of the modular design, there are infinite possibilities, as long as you have the idea and the ability to develop other functions to access the entire blockchain system (whether it's one layer or two layers or more, who knows).
4. Low-threshold, low-energy projects, POW requires a lot of energy, but also need to buy professional equipment, POS need to hold enough coins, both models for ordinary participants need to increase the cost.
So we feel that we should give participants another option, which is why we will use an unconventional consensus mechanism. We introduce a mechanism Node + MinNode (MiniNode can use mobile phones to participate, this function can be understood as "disguised mining", but has nothing to do with the arithmetic power)

Unfortunately, the majority of new coins are a complete gamble because a great number of them serve no purpose or are scam coins based on the pump and dump scheme. Generally, you'll need to read their whitepaper, see what the project's goals are, and most importantly, are they feasible, or are we talking about a panacea that can't be implemented in the real world? Are the developers organized, and is there a community that supports this project? All these questions play a vital role in determining if a new coin is worth investing in.

I'm not really into altcoins and investing in new projects because I can't bother researching if it's worth it or not; thus, I tend to stick to Bitcoin. However, Binance recently listed SEI and Cyber, both of which look promising, and I decided to involve myself in farming them. Binance also usually lists projects that aren't scam schemes, so you may want to be on the lookout for any other coins that might enter their launchpad.

Innovative ideas, practical technology, not just empty bragging rights, and community-based projects might be good places to start.

What would be the practical value of such a coin (aside from its unconventional consensus mechanism)? You previously mentioned, "If a coin is sustainable in the long term"... But how do you determine if a coin can truly withstand the long run? The market will ultimately dictate that.

As a new project, it is also possible to work with top projects only after proving their potential.
If there is no vigour and no potential, no one will pay attention to it, and it is even more unlikely that it will be supported by top projects.

It might be a little better to communityise the project

The partnerships matters a lot, if it has the partnership made with the top project, or top coins projects, then it make some positive thinking about the project. And, also there should be at least the whitepaper related to the technology which is used in real world will make some sense as well.

There is never an easy answer to this one otherwise everyone would nail it.  You really need to either do an insane amount of research or just gamble and know there is a good chance you might lose all of that investment.  Start following smart people amd check our their recommendations and go from there.

This is their line of service because the more development activities a project follows, the more investors will invest in that project. In fact if the project is scammed, there is no consideration of the development activities because after giving a lot of good services then suddenly they can scam. But investors always overestimate service activities. As through staking program a project is able to retain investors for a longer period of time.

Thank you very much for your attention, this is not our project, we haven't released it yet, it's currently in the development stage, we need to wait until the project development is completed and tested online before we can release it!
Our goal is a brand new coin (not token), not the regular POW and POS consensus mechanism, we refer to a lot of projects (including non-blockchain projects) before making the decision .

Assess whether that new function is solving a problem that really exists. If it does, then you will not be "able" to get into buying it, because the demand from investors to grab some of it will be so high. If it does not, then its just another shitcoin in the cesspool. In most cases it will be the second one. Still if you are thinking that it might be good, observe it after it has launched and marketed for a couple of years before making the decision to buy some for your portfolio.

Usually this type of tech comes once a lifetime. Bitcoin has been one. We are yet to see another and we might never actually do so.

IMO, you don't need to understand market needs, because as I said before that every revolutionary project in crypto will have its own place, if indeed your project is a project that is different in terms of model and other things, then your project will definitely get attention.

BTW, I've done a Google search regarding MundoCoin, and the results lead to: https://coinmarketcap.com/currencies/mundo/

is that the project you mean?

Yes, projects that are hyped up will only be short-lived.

Yes if its really worth investing and attractive why not. Most coins and tokens without new gimmick cant work in the degen market. Remember the hype on br20? These are new hype that surround bitcoin blockchain that are become mainstream to some OGs and see it become a trend and some gains a lot.

Thanks for the advice, I'll take it!

It's personal intuition and a bit of research that helps making the decision. If something new comes up, we should ask ourself first is it feasible? If it's feasible, is it useful? If it's useful, does it have enough market to grow? If it has a potential market, we should analyse if the current team is able to lead it into success, does they have good strategies set? Are they even legit person with experience of the market. If you well researched the coin you are investigating, even if things go wrong, you won't be at a loss.

Yes, it's quite understandable that NFT was originally advertised as: the blockchainisation of copyright; everyone could make all sorts of NFTs on the blockchain, but in reality it just created a lot of 'useless images'.
I can't comment on the usefulness of this technology, as more than one blockchain exists.
Maybe in some regions and countries, a great one exists.
In addition, the term "new technology" in this context is only a concept, and does not specifically refer to a particular idea. As I replied to others, I'm trying to understand the market and I don't think it's a bad idea.

It depends on what this "new" tech is. I mean, look at NFT, it was completely new and innovative back then but look at what happened. Look at what it's users made the scene be. While the idea was there, it basically ruined the market. Early on though I guess it was a good investment since literally everything was new, and the market was booming so you can get away with making a profit off of something no matter how bad it was.

Just that, there's a LOT of worthwhile investment, idea-wise. Execution wise? They just run away really, scam their investors and get some bit of money off of that.