Never judge a token by it's name, Dev aren't your friend

zachyboy090118

copper member

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Quote from: Olayinka2225 on September 05, 2021, 01:57:19 AM

I saw Cake at 0.5 and thought that was overrated, after all, a financial project called "Pancake" with a token called "Cake" couldn't be serious. I followed it for 1 month and when I saw it, it shot to 8 dollars, so I waited for it to fall and bought the 6. It was one of the best moves I made, but still, I ended up missing the timing, because it reached 40 dollars and I ended up selling it at 15, in that insane fall

The token name is not affect at all on what will be the outcome on that token, some token have funny name best example is memes coin, as we see in the token name its funny already but if you observe what coin going on and its amize us because its popular coin in crypto. And on that fall of your funds, as an advise we should always monitor the coin we invested and be familiarize the candle stick movement. Or rather than that if its a new coin, just invest a little an observe before putting big capital to avoid lossing more funds.

sukmo

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Moonbet.io

All this time I was not affected by the name, what I researched was a development of the project and a team working for the progress of the project.
In 2017 I once invested with an ico a platform whose name is quite interesting and it turns out that it is instead a dead coin that does not move at all.

Dread Pirate Roberts

sr. member

Activity: 1512

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Quote from: Olayinka2225 on September 05, 2021, 01:57:19 AM

I saw Cake at 0.5 and thought that was overrated, after all, a financial project called "Pancake" with a token called "Cake" couldn't be serious. I followed it for 1 month and when I saw it, it shot to 8 dollars, so I waited for it to fall and bought the 6. It was one of the best moves I made, but still, I ended up missing the timing, because it reached 40 dollars and I ended up selling it at 15, in that insane fall

yeah if you think about it it's quite ridiculous from the name. what else is added to the baking system. but that's the reality that happens in the crypto market people like it. indeed the most important thing is look for a system they offered. name is not a benchmark for a project to be successful or not.

mksundip

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name is not a priority. it's a unique name that usually gets the spotlight. but what matters most is how the token progresses and the team performs. many tokens with good names but not able to survive in the crypto market. but sometimes bad names make success in crypto. remember the name is only an identity, the development of the project is the most important.

herizal85

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Activity: 532

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judging something from its name (token) is not a basic principle for us to keep a token, even though the initial launch of the token is very tempting in price. it's better to let it go than we lose it all. the token will die if the developer doesn't plan the latest innovations in terms of advancing the token

lienfaye

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Quote from: Olayinka2225 on September 05, 2021, 01:57:19 AM

I saw Cake at 0.5 and thought that was overrated, after all, a financial project called "Pancake" with a token called "Cake" couldn't be serious. I followed it for 1 month and when I saw it, it shot to 8 dollars, so I waited for it to fall and bought the 6. It was one of the best moves I made, but still, I ended up missing the timing, because it reached 40 dollars and I ended up selling it at 15, in that insane fall

Well its not really right to judge a token/coin by its name just because we think its funny or something not serious. The name has nothing to do with the project, its just a front to attract people. But what important is the dev and the team behind it whose working to execute a project that has a purpose. I know cake even before the price is still cheap but didnt had a chance to buy some because I am more focus on other coins that are already existing for years.

Al Qiyamah

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Quote from: reza7777 on September 05, 2021, 05:07:01 AM

Judging tokens by name might only be done by some people who are new to crypto but for those who already have a lot of experience of course looking at altcoins not by name but from the research they did on the project

Yup, I agree with you. It's true what you said that only those new to crypto would judge a token by its name. the name may sound unprofessional, but if the project always provides the best and the features it offers also make it easier for users, it is not impossible that the platform will be increasingly in demand and it will have a positive impact on the token in the market.

BitTraderCute

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Quote from: Kyraishi on September 09, 2021, 06:02:42 PM

Don't get fooled by the name.

A project can have the absolutely best, most original name, and still come out as a dud.

The coin's name on the other hand can be a complete joke and still survive multiple years. Dogecoin is a good example of this. It's all about actual community adoption and the technology underlying the project.

coin name not correllated with project quality or another things,i am believe dev team use the name for some reason. dogecoin could be an example for it,maybe for some people its name looks funny or strange but for dev team the name have alot mean. project quality only could judges by its roadmap , developers team work quality and ecosystem that will create.

Kyraishi

hero member

Activity: 952

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Don't get fooled by the name.

A project can have the absolutely best, most original name, and still come out as a dud.

The coin's name on the other hand can be a complete joke and still survive multiple years. Dogecoin is a good example of this. It's all about actual community adoption and the technology underlying the project.

letyouearn

legendary

Activity: 1722

Merit: 1014

Well, I can just add... Never judge NFT by its name, by its visual characteristics, by its creator and so on, and so on

Fair price is a very difficult to understand thing sometimes - especially in crypto

wheelz1200

legendary

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Quote from: Olayinka2225 on September 05, 2021, 01:57:19 AM

I saw Cake at 0.5 and thought that was overrated, after all, a financial project called "Pancake" with a token called "Cake" couldn't be serious. I followed it for 1 month and when I saw it, it shot to 8 dollars, so I waited for it to fall and bought the 6. It was one of the best moves I made, but still, I ended up missing the timing, because it reached 40 dollars and I ended up selling it at 15, in that insane fall

Of course ypu can't look just by the name, would you invest in a stock of a company just because of its name? Is it not standard to know what you are buying into. Anyone who buys something purely on name will surely lose their money eventually.

harapan

sr. member

Activity: 1904

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Quote from: Olayinka2225 on September 05, 2021, 01:57:19 AM

I saw Cake at 0.5 and thought that was overrated, after all, a financial project called "Pancake" with a token called "Cake" couldn't be serious. I followed it for 1 month and when I saw it, it shot to 8 dollars, so I waited for it to fall and bought the 6. It was one of the best moves I made, but still, I ended up missing the timing, because it reached 40 dollars and I ended up selling it at 15, in that insane fall

After cake I started seeing tokens named after food in the crypto space e.g yam, they all seemed to do well for some time but not anymore, cake in particular was really huge since at first you just had to stake your bnb to earn it, alot of people who participated in the staking made shit ton of money from it when it exploded, also I think you got in at a good price but your greed made you sell for lower profits, have been there too and it sucks alot.

jaberwock

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Quote from: Olayinka2225 on September 05, 2021, 01:57:19 AM

I saw Cake at 0.5 and thought that was overrated, after all, a financial project called "Pancake" with a token called "Cake" couldn't be serious. I followed it for 1 month and when I saw it, it shot to 8 dollars, so I waited for it to fall and bought the 6. It was one of the best moves I made, but still, I ended up missing the timing, because it reached 40 dollars and I ended up selling it at 15, in that insane fall

You are right. Search example of this are the meme coins we are seeing these days. A lot of them have names that are very funny but you would be surprised how far they increase in price. I have seen coins like this that I judged based on their names and I never believed they would go that far and later when I checked their price I come to realize that they have reached a really high price compared to what I saw them at first.Coins ladies, although they seem really good,Nevertheless they still end up crashing badly. there is really good for just pump and dump. So anyone that’s investing in them really has to be careful.

H1N1

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Quote from: Olayinka2225 on September 05, 2021, 01:57:19 AM

I saw Cake at 0.5 and thought that was overrated, after all, a financial project called "Pancake" with a token called "Cake" couldn't be serious. I followed it for 1 month and when I saw it, it shot to 8 dollars, so I waited for it to fall and bought the 6. It was one of the best moves I made, but still, I ended up missing the timing, because it reached 40 dollars and I ended up selling it at 15, in that insane fall

Pancakeswap CAKE price is around $28 now, which is already gone far from the price you saw $0.5
We should not see the project by it's name only, there are many copy-paste project in cryptocurrency, we can see many 'bitcoin' copy cat coins in crypto.

Ulvajaya

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Activity: 308

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Judging something not only from the name or brand of the coin, but look at the movement or potential value of the sale and purchase so that now you are surprised by the price that has reached 40$, so you don't want to hear the words of your irresponsible friend who misjudges a coin just from its name but look at it from the quality side, the potential of the gems will make you regret for the rest of your life, and this is a valuable lesson for you and all of us in choosing valuable coins, each of us needs analysis and belief.

fullhdpixel

hero member

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Quote from: alisonwonder on September 05, 2021, 10:01:29 AM

Quote from: velosepur on September 05, 2021, 07:25:07 AM

True, name dont have impact. Name can help to project only if it is some kind specific and easy to remember before it become popular thanking to project quality and team work on marketing.

The name is only for a sign and also only for a basic assessment, while the quality and performance of the team is the main thing that must always be seen after a name, because a name and logo are only a sign which has absolutely no effect on its performance.

Name is not just for a sign, it is the branding that comes with it, I do not agree that it is worthless and pointless. Why do I think name matters? In this day and age names matter and with a horrible name you will not be able to go high, and with a great name you could still be bad and go up.

Look at dogecoin, it is a horrible coin that worths literally zero, nobody should buy even a single doge and right now it is in the top 10, why do you think? Because, it was easier to do marketing on something like dogecoin and the name helped a ton, of course Elon helped a ton but do you really think Elon would help if dogecoin was named "bigshitcoin" or something? Well knowing Elon, he may have but normally shouldn't interest people. Marketing of a coin matters a lot these days and I believe that name plays a big role which means better name could result with better price.

Anonylz

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Quote from: Olayinka2225 on September 05, 2021, 01:57:19 AM

I saw Cake at 0.5 and thought that was overrated, after all, a financial project called "Pancake" with a token called "Cake" couldn't be serious. I followed it for 1 month and when I saw it, it shot to 8 dollars, so I waited for it to fall and bought the 6. It was one of the best moves I made, but still, I ended up missing the timing, because it reached 40 dollars and I ended up selling it at 15, in that insane fall

Not everyone who get into btc at early stage were able to make good profit out of it as well, hold is easy to pronounce but not easy to practice after all, if you had exercise some patience to hold for a little while you would have rip more from your investment, however, you should consider yourself lucky to have sold high instead of the other way, bottom line is patience is important on potential project in other to rip maximum benefit.

robelneo

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Enjoy 500% bonus + 70 FS

Quote from: Olayinka2225 on September 05, 2021, 01:57:19 AM

I saw Cake at 0.5 and thought that was overrated, after all, a financial project called "Pancake" with a token called "Cake" couldn't be serious. I followed it for 1 month and when I saw it, it shot to 8 dollars, so I waited for it to fall and bought the 6. It was one of the best moves I made, but still, I ended up missing the timing, because it reached 40 dollars and I ended up selling it at 15, in that insane fall

The technology and the community is over ten years now, there's no way you can judge the potential of the coin through its name if that is the case things will be easy it will become a name game, I don't know but I have never encountered a post where the investor was attracted to invest because of a good name and it's never part of what investors should be looking in a coin.

Platform, the people behind the project and their capability, whitepaper road map professionalism, good communication, and marketing are the criteria.

velosepur

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Last few months I noticed many new coins with word doge in name as doga a, doge b, c doge... That is trend now Grin

but as we wrote already name is not so important. Other things make impact for project success.

Bitcoin Seller

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You are right that we shouldn't judge projects just based on their names. We had better investigate the idea, docs and development team before investing, also it will be good if you can read smart-contracts as only it is a provider of truth.
As we saw many clones of Dogecoin, like Lady Doge, Baby Doge and many other dogs, but some of them were even scums, and none of them became as successful as Dogecoin.

Topic: Never judge a token by it's name, Dev aren't your friend (Read 453 times)