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

zachyboy090118

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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

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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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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

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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

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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

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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

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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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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

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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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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.

Bttzed03

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Quote from: Olayinka2225 on September 05, 2021, 08:59:26 AM

~
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

Ah I see. Whenever devs or any part of the core team starts speculating on the price, big baggers usually dump on them and I've heard of one admitted that.

It's alright to create some sort of hype around the project but never to make price predictions. That's a huge red flag.

gwdf1

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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, I also didn't take this project seriously at first.
Just pancakes and rabbits on the website, can such a childish project be successful. But we see that it is used for exchange, for farming and staking, also there are lotteries and NFT marketplace, so this project is really successful despite its childish name and design. So now I investigate first and don’t judge from name.

Pelana vreo

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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 project developer has a way to make the project more known, the most important thing is the product and the idea of the project, as we know some projects have anonymous team members, but the project is going well, I learned from memecoin and it turns out the name I thought was just a joke , they became a popular project by many investors and the price goes up like Free, Shiba, and Safemoon.

Dewi Aries

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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

I never think that far, about name i think no matter what the name is, as long dev not leave the project it is already good point. About name, as long it is not same with others , i mean really have exact name with coin that already success, usually not suspicious for me.

Ziskinberg

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The name Cake and Pancake seem unrealistic at first, I think it was a joke and scam but surprisingly, it becomes hot in the market and was able to stay valuable until this time. I admit I was wrong and so many people are able to miss this opportunity thinking it has no value.

But for you OP, it was not the wrong move do, you just in wrong timing but at least you have been rewarded with the trust that you have given to this project. That actually happens in the crypto, you can't be all in perfect since we never know what happens next.

CaVO32

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Quote from: Orange89 on September 05, 2021, 03:18:17 PM

Yes if are judging any token/coin by their name then you may be missed some gem as you mention you Cake but if you stay updated with the team then you may know team already had big partners like binance when cake price is around 6$-7$ if project had such big partners my first impression will be Hold and still i am holding 23 Cakes and i will not sell it because Pancakeswap had growing fast and people prefer pancakeswap nowdays compare to other platform these trust of the community to use also make their token price growing rapidly

Definitely, Cake is worth to hold based from what it is doing right now. Pancakeswap is like the go to of traders when it comes to BSC tokens, and since BSC network is getting popular these days, they really do have the chance to further increase its value in the coming months. But we are still a lil bit half way from their ATH of about $43, so if their popularity keeps on increasing, their ATH can be achieved again.

Orange89

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I WANTED EVERYONE TO BE HAPPY IN LIFE

Yes if are judging any token/coin by their name then you may be missed some gem as you mention you Cake but if you stay updated with the team then you may know team already had big partners like binance when cake price is around 6$-7$ if project had such big partners my first impression will be Hold and still i am holding 23 Cakes and i will not sell it because Pancakeswap had growing fast and people prefer pancakeswap nowdays compare to other platform these trust of the community to use also make their token price growing rapidly

Oluwabunmi21

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Yes it is true, one can not tell the gravity or measure of a coin, for the fact that it is small doesn't mean it's useless, there can be more benefits one can derived in it. At a point, there may be market for the coin.

bamb

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It seem to me that most project with substance are more focus on functions, utilities and adoption! Name of a coin could have direct or indirect interpretation to what it's aim at! So, you have to read in between the line to get the message and understanding of funny coin name!

Rana590

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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

Don't be upset in crypto world. We don't know what will happen in future. If we knew that we would buy huge amount of coin which are leading the market. But holding for long time is profitable in most of the time. It is correct that we shouldn't judge a coin or token by it's name.

7788bitcoin

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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

If you knew the technical aspects of what they are planning to do, then you would not hesitate to invest. Pancakeswap is created as a DEX for BEP 20 tokens while Uniswap is created for ERC 20 tokens and once the transaction fees for ERC 20 tokens started to rise, you should expect more projects to use BEP 20 and thereby it will boost Cake and that is what happened. You should have held on to the coins much longer and i see them easily crossing $50 by the end of this year.

Cling18

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It isn't just about a coin's name but its potential, activeness, and the team and developers behind it. It's normal to sell at a lower price because most of us have experienced the same thing but any amount of profit is still a profit that we should still be grateful for. The capability of a coin to boom and reach a good price couldn't be based only on its name but its purpose.

ali1177

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Agree with you name doesn't mean that project will work or will not work we should understand the project not just the name we have to gather information about the project it doesn't matter what name will be.

geegaw

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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.

Yes, the name is for people to call and know the presence of a project, a prominent name can sometimes also make us think that this is a subsidiary of previous projects or it's a project based on a social reality platform but whether left or right, this abstraction and fantasy does not increase the consensus from the brain about evaluation. The brain needs to assemble many different parts to evaluate, similar to judging the status of a friend, we only add them to the friends list when we have had a long enough conversation and know their personalities, projects with a special name also won't be able to change this basic route

alisonwonder

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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.

coin-investor

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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

That's investing blindly with looking only at a coin's name as a parameter to invest in a Cryptocurrency not all that sounds like Bitocin are worth investing in the past there are so many coins named after Bitcoin but ended up as pump and dump coin, do your own research and check what the coins are bringing to the table even if the name sounds scammy.

Jercyhora2

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I admit that this is how I used to view other altcoins when I was just starting to study crypto. I saw that CAKE back then when the price was very low but I didn't pay attention because it didn't seem serious. I immediately called it "Not serious" when I first saw the name without a glimpse of its whitepaper. I thought it was just one of the shitcoins that were popping up back then. And yes right, Let’s not judge coins by name only, let’s better look at its important details of it.

wajik-tempe

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Quote from: tisoysoy on September 05, 2021, 09:39:38 AM

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

I Agree but sometimes if the name is "too much" as an investors, we sometimes have a doubt that the project is a real and serious project or not.
For example a token named $SHIT or someting like $SEX, we know we can't judge by the name, but i think the owner of the token knows that the name of the token will have an impact for the investors because that is the first impression that the investors got before they dive inside to the project details.

irsada

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Come on dude, we didn't know that pancakes would be this big, if I had known I might have invested all my funds in it, try to move on because the opportunity will be there for people who keep trying.

criket

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Quote from: ?? on ??

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 don't have the patience to hold coins so you always meet with a regret that you didn't expect at all,
so there's no need to tell it at length because it will only be a good lesson and experience for yourself.

I guess it won't just be a lesson to the OP. There are many people on this forum who I believe have had a similar investment experience.

what I see, the OP invests without planning and strong analysis. missed to determine the purchase price, as well as the selling price. The OP can improve his market analysis skills with this experience.

tisoysoy

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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

danherbias07

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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. Grin

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.

Olayinka2225

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Quote from: Bttzed03 on September 05, 2021, 02:48:30 AM

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

Bazlur

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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.

cabron

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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.

airdata

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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.

meanwords

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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

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.

yazher

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Activity: 2268

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You own the pen

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

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.

bakasabo

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Activity: 2492

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Quote from: semobo on September 05, 2021, 02:00:03 AM

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.

mindrust

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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

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.

velosepur

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Activity: 1106

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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.

kidbounty

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HELENA

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

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.

Strongkored

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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.

Reid

hero member

Activity: 3052

Merit: 651

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

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.

cryptomaniac_xxx

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Activity: 1344

Merit: 540

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

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.

tabas

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Activity: 3024

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Top Crypto Casino

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

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.

smyslov

sr. member

Activity: 2030

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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

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.

reza7777

sr. member

Activity: 1414

Merit: 255

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

kryptqnick

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Activity: 3248

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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.

darahjuang

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Activity: 252

Merit: 10

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.

Bttzed03

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https://bitcoincleanup.com/

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~~ devs not your friend?

semobo

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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

Name has no effect at all, because lot of projects apart from hardfork has prefix as bitcoin but they can't able even to list on any exchanges and simply the copy of Bitcoin blockchain.

Olayinka2225

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Activity: 72

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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

Topic: Never judge a token by it's name, Dev aren't your friend (Read 436 times)