Topic: What really makes a cryptocurrency successful - page 5. (Read 981 times)
Same answer with some people here, it is hype. Because some projects still not developed first before they can get money from ICO or any other crowdfunding ways. For me who not really deep in a coin analysis, i will look people's response, but it is tricky because some people really shill the coin with their own reason. That is what we must filter it.
Personally, I believe that if a project is in great demand among the entire community, then, accordingly, the project will be very popular in this market. This means that this project has attracted many investors who have invested their funds and want to profit from this project. This follows from this, because I believe that the cryptocurrency created by this project is starting to rise in price, and the project is becoming very popular. And it turns out that the project came to fruition because it became very successful and many made excellent profits.
if they ask questions that means they have no idea in the project or they can have an idea but they are not confident and wants to confirm it by the judgement of other people .
a good team can have a big impact in the success of a project but only if the team that claims they are professional are legit and not lazy
. instant success can happen if they completed the first level of thier plans but what want is project that is succesful from start to finish .
a good team can have a big impact in the success of a project but only if the team that claims they are professional are legit and not lazy
. instant success can happen if they completed the first level of thier plans but what want is project that is succesful from start to finish .
But the truth is a large percentage of investors dont understand this technical terms when they read it and for all the claims of good team members, no one can really know how good a projects team is until the project progresses
If the project really good it will be easy to success. When the project has a good development, good team it will bring good partnership and everyone gonna love that project and invest on it.
But i think the project should also have some real use case where the product offered by such project could shine, I've seen countless project whose team behind it was very committed in developing their project but no one really used it so they fall and bankrupt.See the example of swap service (dex) despite clone of it coming out everyday it's still selling like a hot cake because its use case is strong and that's what defi tokens offered quite frequently.
Projects will be successful because of the hardworking, commited and dedicated team to do their very best, investors whose trusted to the potential of the coins and to the supporters for spreading the informations and news. I think these are the ingridients for the success of the projects. You as an investor, must be observant to the flow of the crypto world for you to be able to make profit and to avoid scammers.
But the truth is a large percentage of investors dont understand this technical terms when they read it and for all the claims of good team members, no one can really know how good a projects team is until the project progresses
So this makes me wonder what makes some projects instant success and gives them immediate acceptance from the cryptocurrency community
That is why today doge has reached $0.67.So this makes me wonder what makes some projects instant success and gives them immediate acceptance from the cryptocurrency community
Most people are interested in how to make a profit without any effort. Whereas, if you spend some time in this forum, you can discover how things are progressing over time. When the prices were low in the market, nobody was interested in crypto, but since January dozens of guys have asked me how to invest. So, things do not work like that here, you should be active all the time, otherwise you will remain unaware of innovations, which means you have already lost too much.
While in the bullrun it is difficult to decide because even the trash are getting attention, I still think that with enough market research and due diligence we are able to find the top projects that will eventually become successful. In the bear market this is easier as the scams are less and the working teams of developers are obvious.
Being succesful in the short term doesn't mean a cryptocurrency will be relevant after two or three years.
Being succesful in the short term doesn't mean a cryptocurrency will be relevant after two or three years.
Any coin can bring profits or can change one's life, some coins are based on FOMO while some delivers at best but when it comes to crypto success it's all in the hand of the project team, my own interest is been successful so the only way to have high chances is expand your portfolio
Trust, building a community, and marketing are key. Otherwise its like having a restaurant in the desert that no one knows about and has no signs to its location.
I wonder what really makes coin or token successful in the markets and the reason for this is because a lot of people state reasons like
"how good the project is, what the idea is all about, team etc)
Are you really asking ? or just pointing your view? because you are asking in title but explaining here in your post."how good the project is, what the idea is all about, team etc)
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But the truth is a large percentage of investors dont understand this technical terms when they read it and for all the claims of good team members, no one can really know how good a projects team is until the project progresses
Nope you are wrong , because what you are pointing is the Weak and stupid investors and not those Big and knowledgeable .Many of them knows what they are doing .
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So this makes me wonder what makes some projects instant success and gives them immediate acceptance from the cryptocurrency community
There is no Instant success in every project , Looks like you are the real one who don't understand anything. 
real investors should know that, and choose the coin or token because of its function, and professional team. however, most people are the type to choose coins based on the movements and developments that occur. for example, such as choosing a coin because of the signal that it can increase, and so on. however, what makes a cryptocurrency successful is the people behind it as well as the users, in short, the need and demand is great, and that refers to the function of the coin / token.
Most people would say use case, newer tech or ideas, etc but look around you today even shit projects brings thousands of dollars to some people, what people should understand is some projects are for short term investment opportunities, while some are good for long term, as for me I just busy taking advantages where I believe that opportunity is available
But the truth is a large percentage of investors dont understand this technical terms when they read it and for all the claims of good team members, no one can really know how good a projects team is until the project progresses
So this makes me wonder what makes some projects instant success and gives them immediate acceptance from the cryptocurrency community
So this makes me wonder what makes some projects instant success and gives them immediate acceptance from the cryptocurrency community
Hype?
As far as i know the legit project that can be accepted by the community easily already published by so many press release.
So many investors didn't know about DYOR. They were only doing herding activities.
The legit team can be seen from how active they are in developing their project. I think that could be the reason. A legit project will get massive demand instantly from the crypto communities.
Hype is a bit correct but more a guy like Elon will make the cryptocurrency more legit.
You can do all the DYOR you want but you can only see how Doge get to be this big because of one guy. Seriously there are a better project that has greater concept solving a real problem but if there is no community that will support it, it may fail.
. but the fact is so now. If we put aside the success of coins first due to famous people like Elon, In my opinion, Every Coin will be successful if it has Action in the real world, has a solid Team and Community. where the coin is listed is also very influential.
A project created by a very well-known person will be accepted by the community or even newcomers. Remember about the majority of big projects created by the guys that have massive popularity among the crypto investors.
We can take DOT. This project accepted by the community instantly caused by one of ethereum core developer member is also working on DOT.
I can't also deny if marketing and usability will be playing a lot to make the project to be a successful project.
We can take DOT. This project accepted by the community instantly caused by one of ethereum core developer member is also working on DOT.
I can't also deny if marketing and usability will be playing a lot to make the project to be a successful project.
For a project to be successful it needs two things, good marketing and real world utility. Take 0xMR for example, it's mineable, can be used in yield farming, can be used on several casinos and is building a mixer that will require 0xMR for payment.
What really makes Cryptocurrency successful is that it is a digital currency that can be used as both a store of value and a mode of exchange.
Although only beginning to take notice as a legitimate payment method, it has established itself as a new asset class over the past decade.
That's about to my knowledge
Although only beginning to take notice as a legitimate payment method, it has established itself as a new asset class over the past decade.
That's about to my knowledge
So this makes me wonder what makes some projects instant success and gives them immediate acceptance from the cryptocurrency community
hype was an important factor in the success of the project. There are many ways to start the hype, such as collaborating in front of experienced advisors who have a large following. or start a lunchpad at a large exchange. this way is very powerful to increase popularity.
its true that large portion of people who were supposed to be investor of the project don't really know the technicality of the project but atleast many of them know what the project's product and what makes it stand out than other.
Although some people probably just buy some coin without even know the project like what happened when a coin got listed in an exchange and some people just buy the coin out of the blue without even knowing the coin itself but that's like only small portion of people, the rest of them usually able to distinguish the project and find the quirk of the project. like for example, there's reason why swap tokens become very generic because most of people think they could repeat the pump that has happened to uniswap or such.
Although some people probably just buy some coin without even know the project like what happened when a coin got listed in an exchange and some people just buy the coin out of the blue without even knowing the coin itself but that's like only small portion of people, the rest of them usually able to distinguish the project and find the quirk of the project. like for example, there's reason why swap tokens become very generic because most of people think they could repeat the pump that has happened to uniswap or such.
Apart from the hype, influential people also have an important part to play in this. in the past we often saw experts advising new projects and the project was gaining popularity. and support from major exchanges also has another important part. if these three things are owned by the new project, it can be ascertained that the project will be successful.
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