Topic: What features should a good altcoin project have? - page 5. (Read 1074 times)
Leaving aside the initial things to make a project accessible to users, what I care most about is its applicability. Most new projects come out unprepared and by the time they have a product, it's just a disappointment. Personally, I'm still not satisfied with this, we're just looking at the price a lot, but there are other things that provide long-term value that people are less interested in.
Make verification and stick into a project which does have realistic roadmap or goal.
What verification, bro?Yes, only choose a project with a realistic roadmap and goal. If we see the roadmap is hard to implement or likely fails to run, it is better to not join the project. There are too many projects with a nice goal but ended with an early fail because they make a sweet goal and not consider whether it is possible to implement or not. Or the team deliberately sets a sweet goal to scam people. They only focus on fundraising and collect the money at that stage. Then, once the fundraising or the initial sale phase is over, they will disappear soon.
Scams happen all the time in crypto that's why the industry isn't so healthy when it comes to these scams. This should be the first they put as a feature like escrow to the funds like maybe the funds are put inside the smart contract that will just release the funds when a milestone is achieved. But today the only way is to trust the team. Maybe if there are reliable people behind the altcoin project, the scam could be prevented.
Make verification and stick into a project which does have realistic roadmap or goal.
What verification, bro?Yes, only choose a project with a realistic roadmap and goal. If we see the roadmap is hard to implement or likely fails to run, it is better to not join the project. There are too many projects with a nice goal but ended with an early fail because they make a sweet goal and not consider whether it is possible to implement or not. Or the team deliberately sets a sweet goal to scam people. They only focus on fundraising and collect the money at that stage. Then, once the fundraising or the initial sale phase is over, they will disappear soon.
When starting an investment we should evaluate the altcoin project very well. Investigate if it have use cases, what the community is like, the rewards system and what initiatives it is developing. Which altcoin project in your opinion do we have to get involved with to make a profit y why?
If you do ask to elaborate then its hard as of this moment considering on different projects in the market now then its up to someone on making out their own research on which one would really be looking good according to their own criteria but be careful because there are lots of scam projects out there which turns or looks to be legit but actually been created for money grab into its investors this is why you should really be careful if you dont like on getting scammed. Make verification and stick into a project which does have realistic roadmap or goal. Dont get yourself fall into those sweet promises of profitsalways look for long term sustainability.
Working product, active CEO/Community, Weekly Updates or AMA's
Check out some OPCT Opacity
Big Fan of Waves too that has all of the above
Check out some OPCT Opacity
Big Fan of Waves too that has all of the above
Are you sure about Waves? Okay, given that they have active development and visible team, however, it seems they are not very successful in attracting users on their platform itself.
Their waves.exchange has been migrated to this new one, however, I don't think they are attracting good trading volume.
But I do agree, some features like working product and active community are few variables to consider for a successful project.
However, one should also consider on its impact to the community. How many are actually using their services?
Working product, active CEO/Community, Weekly Updates or AMA's
Ideally, a good project has a promising MVP or product, a strong community, regularly update information, and trying to provide AMA. These are the signs of a potential project to develop in the future. While active CEO doesn't reflect the sign of a potential project, a scam project also has an active CEO. Even on a scam project, all the members can be active as well. They do this to ensure people that they are a real project. If you are already long time in the crypto space, you must know this classic trick. So, don't believe in an active CEO only.
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I can say, any project can give you a profit as long as you buy and sell at the right time. But to get seriously invested for the long term, I think there are lots. Matic, Solana, Cardano, and UTK is still at its infancy stage. So if you wanted to get in, now is the right time because they are really cheap.
About what feature, I think the one that has not only use case but can also cater demand and interest of people are a good project to invest in.
that is why we must also determine whether the investment strategy is for the long term or short. if it's only for the short term then just follow the project that's hype, even for a meme project whose function is not clear can give you many times the profit but remember you have to hit and run, if it's too late you can lose I prefer projects with strong fundamentals, ETH, BNB, Sol, etc. it's quite effective for a long term investment, and as you mentioned the price is still quite low so it's a good time to fill the bag.I can say, any project can give you a profit as long as you buy and sell at the right time. But to get seriously invested for the long term, I think there are lots. Matic, Solana, Cardano, and UTK is still at its infancy stage. So if you wanted to get in, now is the right time because they are really cheap.
About what feature, I think the one that has not only use case but can also cater demand and interest of people are a good project to invest in.
choosing a quality project is not a simple thing. There are many things to consider before starting. we must understand each of the risks, following a project that is currently hype can indeed give you a quick profit but the risk is high, on the other hand following a project with strong fundamentals is usually slow but the risk is lower.
A big community is a must if we want to make profit. Even the coin's project itself is not really good but if it backed up with great and big companies, many people will follow the project and waiting for the coin sale. It's just simply because supply < demand, price will go high and make profits. That theory is just for a quick profit in a short time.
Community drives the price up that's why this the number requirements of an exchange to list a certain coin. But always double check community members because projects are hiring service that invites user involuntary especially on telegram. This makes a fake community that's why there still falling on scam coin because of over confident on the community of the project.
I don't think it's a matter of the features they have, but what their main focus is. a good project is one that has a real use. and if a project has users, no need for very advanced features or services then the coins of that project will stay in the market. we look at ethereum today, many people say ethereum is outdated. but look at the fact that ethereum is still the main choice for those who want to create Dapps. so forget what features they have, but look at the use cases. how many people or companies have adopted. if it lives up to the standards you set, then it can be called a good project.
A big community is a must if we want to make profit. Even the coin's project itself is not really good but if it backed up with great and big companies, many people will follow the project and waiting for the coin sale. It's just simply because supply < demand, price will go high and make profits. That theory is just for a quick profit in a short time.
Which altcoin project in your opinion do we have to get involved with to make a profit y why?
The alt-coin that already have a name on the community an alt-coin that already on the top list.I don't want to promote any new project since we all know that those are too risky to get involved in.
I only trust the old coins that are on top when it comes to long term but in short term or quick profit you could try those new coins but it would be very risky as I stated before.
When starting an investment we should evaluate the altcoin project very well. Investigate if it have use cases, what the community is like, the rewards system and what initiatives it is developing. Which altcoin project in your opinion do we have to get involved with to make a profit y why?
Frankly the first thing I look at when deciding what to invest in is tokenomics. The second is real world utility. If a project has no real world utility and is just a meme, it will likely not survive in the long run and you will lose your money. If a project has bad tokenomics it will be impossible for you to profit. Many projects have the majority of the token supply controlled by the team or VC and there is constant downward price pressure on the token. That's why I invested in 0xMonero, there is a circulating supply of just 1.6 million, there is no dev wallet to dump on you and there was no ICO/IDO so it's SEC compliant. It has real world utility as they are building a casino, a mixer, and are currently used in two casinos and a DeFi platform. 
Me, personally maybe the product. Product not means the coin / token. But something that can cause the token/ coin been used. Like BNB, people beside use it as fee in BSC token transaction, their hold event every launchpad will make us to buy BNB coin so we eligible to join the launchpad. That is 1 example the coin been used.
They should just simply prove what the whitepaper states. If the whitepaper and the team behind it is good enough then there's a lot of reason investors will be absorbed into it.
I like projects with options to let investors do something too. Not just buy and wait because that was the old school way.
There's so many things that could be done. Let them play games, solve something, etc... I think this is one of the good reason why NFT games industry boomed.
It's not just invest and wait for 2 years like what ICO's did back then. You are participating with events while waiting for the investment to grow value.
I like projects with options to let investors do something too. Not just buy and wait because that was the old school way.
There's so many things that could be done. Let them play games, solve something, etc... I think this is one of the good reason why NFT games industry boomed.
It's not just invest and wait for 2 years like what ICO's did back then. You are participating with events while waiting for the investment to grow value.
I think the features of the smart contract platform need to developing with better benefits, because so far there have been problems with high transaction costs and network congestion. Then we need to look at Ethereum competitors who want to be better and solve the problems of Ethereum today. From the many competitors of Ethereum, I think Solana has great potential to grow. A smart contract platform with very low fees and and high TPS will increase desire of many others person in to crypto world by participating in DEFI or NFT investments.
Many new coins and tokens are constantly appearing today. I prefer coins that have their own smart contracts. or at least can have an impact on many other projects. not just their coins or tokens. I prefer to explore coins that can have a good impact on many parties. because no one knows what will happen to their project.
I also admit that there are a lot of new coins popping up, but unfortunately most of them are just copycats from existing projects.
This is what ends up being a lot of scam new coins, therefore it is better to invest in coins that do have different features from other coins.
Like ETH and BNB, in my opinion, they have features that are really needed by many investors. I also like BAT which has features related
to digital advertising which does provide something different from other coins. I avoid investing in coins that do not have a clear function.
try to see the project developed by Solana, I highly recommend you based on the statistical data that has appeared on their twitter. but I only suggest that it doesn't mean you have to invest immediately.. follow the whitelist program, or maybe you have to participate in some IDO programs. Most of the investors are focused on joining the program..
always looking for information about launches, and you do your own research.
always looking for information about launches, and you do your own research.
A good coin is not only about been used as a medium of exchange, it needs to have a good team who understand what they are doing and gives investors confidence.
Coming from the first generation of altcoins most failed to hit the exchange because teams didn't plan well which is now an important factor for me as I don't want to be in possession of coins with no value.
Coming from the first generation of altcoins most failed to hit the exchange because teams didn't plan well which is now an important factor for me as I don't want to be in possession of coins with no value.
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I only invested in Bitcoin, although it is not an altcoin project, but get me into this. I just need something that can help me pay someone without having to go a lot of hassle to travel, pay taxes, and save time.
See those features, OP?
And no, I didn't include community as part of my reasoning on why I bought one although the community is great.
Many new coins and tokens are constantly appearing today. I prefer coins that have their own smart contracts. or at least can have an impact on many other projects. not just their coins or tokens. I prefer to explore coins that can have a good impact on many parties. because no one knows what will happen to their project.
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