Topic: Never judge a token by it's name, Dev aren't your friend - page 3. (Read 436 times)
You should not just base on the token's name when you invest. For me, the more it sounds weird, the more I get interest in that coin. However, you should always read their whitepaper and do further research for that coin
Base on experience, I saw different awful names before that made a good value in the long run. I agree it's not about the name but mostly about the team behind it and the project itself. Cake though as a name is not that bad. There are some notable worse names in the cryptocurrency industry. 
You still did great despite the regret for not maximizing the sell point. You would never expect it could go way up to $40 and $7 profit a piece is still a lot especially if the amount you bought is high. I could sleep with that.
You still did great despite the regret for not maximizing the sell point. You would never expect it could go way up to $40 and $7 profit a piece is still a lot especially if the amount you bought is high. I could sleep with that.
I also heard of Cake and bought in around the same time. I thought the name sounded unprofessional too just like other food themed AMM/Yield Farm on Ethereum.
When it comes to name, there are some tokens that you really have to ignore just by its name because it's obvious that they are riding on the popularity of other projects. Back in 2017, you could see tokens like ethereum green/gold/platinum. There are many more examples but you should get what I mean.
by the way, how are dev's not your friend?
What I meant by that is that, have invested in a certain coin of which the coin did x5, so many of my pals didn't cash out their capital all because of the sweet words of the Dev that x5 is just the tips of an ice barge. Eventually, the coin rugged. Loss on investment for them When it comes to name, there are some tokens that you really have to ignore just by its name because it's obvious that they are riding on the popularity of other projects. Back in 2017, you could see tokens like ethereum green/gold/platinum. There are many more examples but you should get what I mean.
by the way, how are dev's not your friend?
I never judge a token by its name. If you want to know about a token, you must know about that project. You have to know about the team members of that project, you have to read the whitepaper, you have to know about the roadmap. Only then can we judge that token, not by name.
I also did not take action when Cake price was less than $3 so I just let it pass by and find something else. Not that I carelessly see its name to be unreliable but I know it's a swapping platform of BSC and Cake wasn't also hyped. During that time BNB price is also lesser.
It only means that you just can't ignore shitcoins because you can make money out of them if you can buy them at the right time. Don't cry over it already, there are more out there.
Name is not matter, not have any relation between project name and their concept. I never judge token with token's name, i always see project's concept, team,their Activity, performance and also more.
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
Name has a pretty low significance when it comes to the popularity of the coin. It's all about the marketing. I haven't heard of Cake but I can tell that they are good with finding the right audience that led to that price increase. It's kind of a bummer that I'm late to the party.
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
I think there is nothing to be regret with your decision since you sold them at a price where you get some decent amount of income. Of course, it would have been juicy when you sold them at its ATH but considering the risk that you might lose all of your current capital, it was a smart move that you sold them at that price. Because some of the investors who choose wrong altcoins have suffered not only they've lost their capitals, they've also lost their interest to invest in any of the altcoins again.
Name has no effect at all
Actually name has a great effect. Nobody would buy “scamcoin” for example, but a lot of people were rushing to buy all these “dog-related” altcoins. Just check cmc or coingecko for it and you would be amazed by daily trading volume.
Also, as you mentioned Bitcoin, no one would buy something like “white-bitcoib” or “true-bitcoin” for example, as everyone are familiar with only one legit Bitcoin.
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
What does that have anything to do with the post title?
You just described a pump and dump coin or a project that was in its early stages. Ethereum used to be $1 too. Not how much it is? 5k? (Not really following sorry if I miss the right price)
If you believe in the project, you hold. If you don't you either ignore it or trade it.
You traded it and made good money. You should be grateful. It could be much worse.
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.
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
I don't think anyone thinks names are everything. what matters is whether their platform is needed or not. In your case, I think you're just lacking confidence. pancakeswap is a pretty good dex and will definitely grow like Uniswap, and you don't see this fact. you just had your doubts then, and you're sober now. so good luck on another project. and start looking at the project by everything, not just by the name. 
Well, when I first read the title I thought it was about the wrong investment but I was wrong, it's about selling the investment too fast so that you can't get big profit.
What if the dev is your friend? would you immediately believe it especially if the dev chose a name that impressed you right away at the start, even though you know he is not an experienced person in crypto and blockchain.
Judging a project by its name is wrong you should judge it by the roadmap, team that developed it.
Regarding those of you who sell too quickly, don't be too upset because the situation can be otherwise, the important thing is that you have made a profit and can look for other projects that might be bigger in the future.
What if the dev is your friend? would you immediately believe it especially if the dev chose a name that impressed you right away at the start, even though you know he is not an experienced person in crypto and blockchain.
Judging a project by its name is wrong you should judge it by the roadmap, team that developed it.
Regarding those of you who sell too quickly, don't be too upset because the situation can be otherwise, the important thing is that you have made a profit and can look for other projects that might be bigger in the future.
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
It happens. All you can do is get over it. Try to forget the mistake and move on. Make another one and this time you will do better.
PancakeSwap has more usage now because of NFT's and I think it will not end in a short amount of time. You might want to keep some of those just in case it pumps again.
Names are just names, I see one named after a poop, and yet it still received a value in the market.
As long as the project is good then it will be supported. Names are important though to be easily remembered by users.
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
It's because that is the current hype, similarly like Doge, Shibu etc, then Cake, Sushi, it is what it is.
So yeah, if the devs behind are serious about the project, then it doesn't matter what the name is, it might be corny for majority of us, but once it is on the hype, nobody can stop the rise.
I just do hope though that it can maintain it's price, and just not for pure profits, aka, pump and dump scheme.
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
That normally happens in the market, we don't know the future of a project and its coin until it shoots with its price. You're not alone with that experience.I've experienced the same thing before and that's why when you see a project that you think has the potential and you did your research, hold on to it.
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
I don't go for names anymore, there are coins in the past that I've invested that bear a great name and slogan that connotes prosperity and riches at a short period, in the end, they are the ones who get rich and prosper when they scam their investors, some of the stable coin in the market with an unusual name for a project are Pancakeswap, Apeswap and of course Doge.
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
Judging anything merely by its name is, of course, not a good idea. But judging altcoins by the way they perform short-term is not great either. Many shitcoins get pumped at some point, and if a person's lucky enough to buy and sell at the right moment, they can bring lots of profit. However, then the coins get dumped and can lose the vast majority of their value without ever gaining any attention again, so it's a very risky venue. Pancakeswap is not this sort of coin, but it can still lose a lot of value, and catching something like this coin in its early stages is not an easy task.
You can't do that, my friend. Valuing tokens by name is not a foundation for every investor. There are other things that every investor must assess to buy such as the seriousness of the team behind the token name. If I'm going to see how the demand level of one of the tokens in the market is, if the demand is good, then I'll choose it but not for the long term.
Many fall for only judging tokens by name.
Many fall for only judging tokens by name.
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