Topic: what qualities does a coin need to survive this bear? - page 3. (Read 603 times)
No qualities are required when you see DOGE.
Most of it comes down to usability not just technical features or hype
The more people who are actually transacting with a currency the better it will fair in a situation where there's less investment in assets that are more speculative in their ability to achieve some adoption
The more people who are actually transacting with a currency the better it will fair in a situation where there's less investment in assets that are more speculative in their ability to achieve some adoption
does it need any? will there be a unifying characteristic that leaves certain coins standing where others have fallen?
i'm going to say that the less centralization there is, the greater the chance a coin has of living to fight another day.
a prime example of this is doge. it's been around for what feels like forever. no one's really in control of it. it wasn't created for the specific reason of lining the pockets of a small bunch of assholes. it's just overtaken zcash, the coin put together a bunch of geniuses, on coinmarketcap.
similarly unless it gets its act together litecoin will come out of it alot stronger than BCH for very similar reasons.
is there anything to that theory? is there anything else that you've noticed?
i'm going to say that the less centralization there is, the greater the chance a coin has of living to fight another day.
a prime example of this is doge. it's been around for what feels like forever. no one's really in control of it. it wasn't created for the specific reason of lining the pockets of a small bunch of assholes. it's just overtaken zcash, the coin put together a bunch of geniuses, on coinmarketcap.
similarly unless it gets its act together litecoin will come out of it alot stronger than BCH for very similar reasons.
is there anything to that theory? is there anything else that you've noticed?
A coin must be exchangeable on valuable services (working product backed by this coin).
If demand on such service does not depend on market fluctuations then a coin will survice.
I think the most important qualities that a coin need to be able to survive now is their community support, I will not talk about Bitcoin or Ethereum that has been widely adopted. But let's talk about other coins that are not too famous just like your example which is Doge, the main reason why doge is still surviving this bearish is that many people use it, they like it because of the cheap fee and fast transaction. Moreover, we do not see much payment coin like Doge, their only competitor is NANO. In this hard situation no matter how good your project's vision is, when a project can not give what people want right here right now, they will not survive.
I do not see a project who standing strong in this bear market. If we look at all projects in average then we see that Bitcoin is the strongest, if we compare it with the ATH of the coins.
i'm not talking about doing well, nothing's doing well, it's more about coming out relatively unscathed to be a contender another day compared to the stuff that'll fade away completely.
supply could be another factor. mined stuff in general has better distribution and more incentive to keep going.
It's okay if a coin/token/platform goes down and negative during this bear market, but as long as the platform's team is serious and dedicated, the token will survive. Also it needs to have in my opinion some real life usage in the near future for it to survive and be adapted within the cryptosphere.
I think the most characteristic that a coin needs now is popularity because look at all the unknown coins they are suffering much more then BTC or ETH.
I do not see a project who standing strong in this bear market. If we look at all projects in average then we see that Bitcoin is the strongest, if we compare it with the ATH of the coins.
The coin needs to have real-world case use and not just some ERC20 token. It means the devs must sell their solutions to the users and not focus on the coin in the beginning. When the project gains traction with many users, then the devs will think of how the coin will add value to their project. You need to find a coin where the devs is focusing on solving problems that users face.
The coin or token simply needs to be a legit project, with investors interested and a solid community backing it up. If it is simply vaporware or a shitty project looking a pump and dump, then chances of it dissapearing after this bloodbath are pretty high.
The coins you mentioned have been on the market for a very long time like zcash or litecoin, and there's a reason for it, they don't have unique characteristics, people trust these coins bucause they have proven to be legit cryptos over time, that's why they'll survive this bear market. Projects who lacked trust in the cryptosphere will most likely dissapear.
Yes, I agree wit your suggestions of the qualities that a coin needs to have for it to survive the bear because without these, it may likely crash. It needs to be legit that is has very good idea, good technology, team members and also a very strong and supporting community for it to survive the present condition of the crypto market. The coins you mentioned have been on the market for a very long time like zcash or litecoin, and there's a reason for it, they don't have unique characteristics, people trust these coins bucause they have proven to be legit cryptos over time, that's why they'll survive this bear market. Projects who lacked trust in the cryptosphere will most likely dissapear.
The coin or token simply needs to be a legit project, with investors interested and a solid community backing it up. If it is simply vaporware or a shitty project looking a pump and dump, then chances of it dissapearing after this bloodbath are pretty high.
The coins you mentioned have been on the market for a very long time like zcash or litecoin, and there's a reason for it, they don't have unique characteristics, people trust these coins bucause they have proven to be legit cryptos over time, that's why they'll survive this bear market. Projects who lacked trust in the cryptosphere will most likely dissapear.
The coins you mentioned have been on the market for a very long time like zcash or litecoin, and there's a reason for it, they don't have unique characteristics, people trust these coins bucause they have proven to be legit cryptos over time, that's why they'll survive this bear market. Projects who lacked trust in the cryptosphere will most likely dissapear.
I would say uniqueness. To have a token in your project which serves as an utility token, in most cases an ERC20 token, is just not gonna cut it any more. Privacy coin is also not a good selling point as we already have good privacy in Monero. Pumping your coin with transaction per second count is no good too because i believe in lightning network to do that.
So in short it has to do something revolutionary, unique and unseen, also has to have purpose. What it is i dont know but we will know if we see it.
So in short it has to do something revolutionary, unique and unseen, also has to have purpose. What it is i dont know but we will know if we see it.
None because the BTC dominance right now is around 55% and even those altcoins had a solid news upcoming it really doesn't affect right now. What we need is a solid news for crypto world which will start a mass adoption of this technology here in our world.
Most likely, decentralization is effective in quiet times. If you understand psychology, you may know that in extreme cases most people behave the same way. Thus, no matter what this coin is, if it's a panic, then everyone will sell it, if FOMO, then everyone will buy it. IMHO
does it need any? will there be a unifying characteristic that leaves certain coins standing where others have fallen?
i'm going to say that the less centralization there is, the greater the chance a coin has of living to fight another day.
a prime example of this is doge. it's been around for what feels like forever. no one's really in control of it. it wasn't created for the specific reason of lining the pockets of a small bunch of assholes. it's just overtaken zcash, the coin put together a bunch of geniuses, on coinmarketcap.
similarly unless it gets its act together litecoin will come out of it alot stronger than BCH for very similar reasons.
is there anything to that theory? is there anything else that you've noticed?
i'm going to say that the less centralization there is, the greater the chance a coin has of living to fight another day.
a prime example of this is doge. it's been around for what feels like forever. no one's really in control of it. it wasn't created for the specific reason of lining the pockets of a small bunch of assholes. it's just overtaken zcash, the coin put together a bunch of geniuses, on coinmarketcap.
similarly unless it gets its act together litecoin will come out of it alot stronger than BCH for very similar reasons.
is there anything to that theory? is there anything else that you've noticed?
Decentralization is probably the top of the list, that way you can be sure there isn't anyone behind the scenes pushing their own agenda instead of that of the people invested in the coin. Although that mostly applies to only established coins. The others that seem to be performing well have some sort of an actual use, bar a few they are fully established and out of the development stage. It's hard in this environment for people to invest in speculate coins. Much like in the real markets when times are tough money flows back towards gold, government bonds etc, here it flows back towards bitcoin mainly and then a few other of the stronger more established coins.
does it need any? will there be a unifying characteristic that leaves certain coins standing where others have fallen?
i'm going to say that the less centralization there is, the greater the chance a coin has of living to fight another day.
a prime example of this is doge. it's been around for what feels like forever. no one's really in control of it. it wasn't created for the specific reason of lining the pockets of a small bunch of assholes. it's just overtaken zcash, the coin put together a bunch of geniuses, on coinmarketcap.
similarly unless it gets its act together litecoin will come out of it alot stronger than BCH for very similar reasons.
is there anything to that theory? is there anything else that you've noticed?
i'm going to say that the less centralization there is, the greater the chance a coin has of living to fight another day.
a prime example of this is doge. it's been around for what feels like forever. no one's really in control of it. it wasn't created for the specific reason of lining the pockets of a small bunch of assholes. it's just overtaken zcash, the coin put together a bunch of geniuses, on coinmarketcap.
similarly unless it gets its act together litecoin will come out of it alot stronger than BCH for very similar reasons.
is there anything to that theory? is there anything else that you've noticed?
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