What things to check when it comes to DYOR

GbitG

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Quote from: Luizwalter Crypt on July 29, 2024, 10:34:00 AM

The word DYOR always sounds strange to newbies in crypto as they have no idea atall were to start even with their google search engines.

DYOR is just an abbreviation of Do Your Own Research. Usually, it is used for Disclaimers like This work has to be done based on your own research. Because you will not be responsible for doing this work, so you are being warned as a disclimer that the Crypto industry has a very volatile existence, so act according to your research.

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What sites could be best for this and what the first 5 qualities to watch in a coins project when Doing your own research?
you can share your thoughts on this to enlighten some of us here.

According to me, if a new one wants to know how a new project is deep dug under DYOR, i.e. how the project is explored according to one's research. So I think there are two sites that can make it very easy for a newbie to study a project, among which CMC and CoinGecko are the top. where all the data regarding the project can be easily observed.

Generally, the following points must be taken into consideration in order to proceed with a project.

White paper: Reading out the white paper means why and for what purpose this project has been created.
Project Developer: How are the people who have launched the project?
Exchange listing: This point should also be seen in terms of which exchanges this coin is going to be listed, whether it is a good exchange or not.
Market Data: It should take into account all the data that is market related like 24-hour volume, price scale i.e. ATH, ATL etc.

So these are some points that I think every newbie needs to study for a project.

DYOR !

o48o

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Quote from: el kaka22 on August 08, 2024, 11:49:32 AM

Quote from: o48o on August 07, 2024, 12:57:09 PM

Well just because something was done beforehand, doesn't mean it will be afterwards. Just because ETH (and to be fair bitcoin too with that million bitcoins satoshi had) had some premine, and did alright after that even with premine, doesn't mean that it is going to be fine.

I support that idea, if something has premine then I do not invest into it, this isn't something about old ones, this is why it's smarter to end up with a good result if you want to avoid them now, not beforehand. Imagine like drawing a line for after 2020, that means anything that was before 2020 you get to see it clearly without checking anything, they are what they are already, but after 2020, like for example there is one tomorrow? And it has premine?

I am not putting up even one cent to it, no way. That's how you approach it, just because it did alright in the past, doesn't mean it will do alright in the future neither, that doesn't work that way. Rest of the discussions could be similar, I just wanted to talk about premine because I hate that too, most people these days do not see how premines are now started to be used as scams, not used to be, but right now they are like that and that's an issue for sure.

As you might recall, Back in 2014 and after, there were several launches with PoW coins that had "fair launches". Some of them had hidden premines that got dumped into markets, which i thought was the origin of this general hatred against premine. However, there were hundreds of these seemingly legit fair launches, on which pseudonymous devs were promising a lot. They mined with the others and announced a plan where they promised something. Then they waited for it to affect the price, sold their share and dissappeared.

Sometimes they even artificially pumped the price with a pump and dump crews before leaving. These were common, so i am not sure why "not premined" coins would be any better. And top of this, there wasn't enough miners for every coin and they were mainly mined by like one pool. So they weren't really safe or decentralized either.

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Quote from: Luizwalter Crypt on July 29, 2024, 10:34:00 AM

The word DYOR always sounds strange to newbies in crypto as they have no idea atall were to start even with their google search engines.
What sites could be best for this and what the first 5 qualities to watch in a coins project when Doing your own research?
you can share your thoughts on this to enlighten some of us here.

The simplest answer is to check everything, and while you may think this is an advice that is too general, that is not really the case, investing in a coin can be a decision that can change your life for better or worse, so you need to take into account every single detail imaginable, and if the project you are researching fails even a single one of those tests, then you need to find another coin to invest, as it is likely the project you are investigating is just a well disguised scam.

Oilacris

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Quote from: Luizwalter Crypt on July 29, 2024, 10:34:00 AM

The word DYOR always sounds strange to newbies in crypto as they have no idea atall were to start even with their google search engines.
What sites could be best for this and what the first 5 qualities to watch in a coins project when Doing your own research?
you can share your thoughts on this to enlighten some of us here.

When making up some in depth research then your friend would really be Google search.

1. Search for the team behind and its better that they are Doxxed.
2. Check out their Whitepaper
3. Check their Roadmap
4. Check their tokenomics if they are holding too much of the entire supply
5. Check about being having that unrealistic plans or speaking about its utility
6. Activeness of Devs and on how they do manage about marketing plans

On the moment that you would really be investing into new projects then it would really be these common approach on how you would really be that making use those searches on which
it would really be just that not hard if you do put up some time and effort on how you would really be that making up those searches specially if it do involves on regarding on the project.

jaberwock

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Quote from: Hispo on August 07, 2024, 07:26:44 PM

One of the things I do when I want to research and cryptocurrency which is relatively small and new is to find a Blockchain explorer and see how big the number of whales is, whether there is some liquidity locked in smarth contracts and in general, to investigate whether it would be possible for a single entity to pull the rug and flee with all the money of investors.
I also like to take a look at the official webpage of the project and see how realistic their expectations are in terms of how far their token/coin will go, if they promise too much than it sounds reasonable to me, I choose to stay away, a good project does not need to over-sell itself, their road and tangible advances speak for it.

It would be also helpful to check liquidity pools in Uniswap or other decentralized exchanges not only from a block explorer but also from the exchange webpage itself.

To be fair, even with realistic things, sometimes they are just not doing it, and that's why it is not always easy to do this research, sometimes we just have hard time because we are looking at things the situation to be very important and handle all of this, it is not going to be all that easy to handle this very easily, not going to be all that complicated at all.

We are going to be seeing this as something that will take some time, and we are going to be seeing this as not that easy to handle for the time being. At the end of the day, life isn't always that simple and just looking at their roadmap or whitepaper will not give us the result we want, and we could make this work eventually, so it is going to be something very difficult for us, not a simple solution to be found.

Jegileman

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Quote from: Luizwalter Crypt on July 29, 2024, 10:34:00 AM

The word DYOR always sounds strange to newbies in crypto as they have no idea atall were to start even with their google search engines.
What sites could be best for this and what the first 5 qualities to watch in a coins project when Doing your own research?
you can share your thoughts on this to enlighten some of us here.

Before embarking on DYOR (Do Your Own Research), you have to know the basics of cryptocurrency before you will be able to embark on such research. Without you knowing what type of coin you want to search about, the theory behind it, under which category of cryptocurrency it falls in, going for research will only make it more difficult for you to know what the coin is all about. If you’ve been in the crypto space for quite sometime now, when you want to go for research, you’ll easily know what and what you should focus on before doing that research. You will be able to point out those things that needs to be knows in order to invest in a coin or not. Doing your own research is a use case for knowing what you want to invest in if it’s within your niche and not just the word itself “research” as a use case to quantify it.

el kaka22

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Quote from: o48o on August 07, 2024, 12:57:09 PM

Quote from: anarkiboy on July 29, 2024, 12:38:13 PM

If there is any kind of premine or dev-tax - it's a 100% scam Wink

If it's only a token running on other chain - it's a 100% scam Wink

That doesn't make any sense. You are saying that all the coins and tokens that had sales, are scams, because they had a premine, including eth. How have they are all been scams?
Go to coinmarketcap.com, and add filter, then choose tokens only-

After that, explain how every L2 is now a scam, including stablecoins, and please define a scam while doing it. Or are you just pushing some talking points that you have heard and actually don't know what you are talking about?

What comes to question from OP, these days i just try to reward good devs by supporting them and buy. When it comes to tokenomics, i would like them to be able to sustain the price. When it comes to fundamentals, i would like the project to solve an actual problem, or just be created for hype. I can't stand any made up reasons, sales pitches and lies anymore on how blockchain and smart contracts solves everything, and is needed everywhere.

Well just because something was done beforehand, doesn't mean it will be afterwards. Just because ETH (and to be fair bitcoin too with that million bitcoins satoshi had) had some premine, and did alright after that even with premine, doesn't mean that it is going to be fine.

I support that idea, if something has premine then I do not invest into it, this isn't something about old ones, this is why it's smarter to end up with a good result if you want to avoid them now, not beforehand. Imagine like drawing a line for after 2020, that means anything that was before 2020 you get to see it clearly without checking anything, they are what they are already, but after 2020, like for example there is one tomorrow? And it has premine?

I am not putting up even one cent to it, no way. That's how you approach it, just because it did alright in the past, doesn't mean it will do alright in the future neither, that doesn't work that way. Rest of the discussions could be similar, I just wanted to talk about premine because I hate that too, most people these days do not see how premines are now started to be used as scams, not used to be, but right now they are like that and that's an issue for sure.

betswift

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Quote from: Hispo on August 07, 2024, 07:26:44 PM

One of the things I do when I want to research and cryptocurrency which is relatively small and new is to find a Blockchain explorer and see how big the number of whales is, whether there is some liquidity locked in smarth contracts and in general, to investigate whether it would be possible for a single entity to pull the rug and flee with all the money of investors.
I also like to take a look at the official webpage of the project and see how realistic their expectations are in terms of how far their token/coin will go, if they promise too much than it sounds reasonable to me, I choose to stay away, a good project does not need to over-sell itself, their road and tangible advances speak for it.

It would be also helpful to check liquidity pools in Uniswap or other decentralized exchanges not only from a block explorer but also from the exchange webpage itself.

Golden strat! About the rug pulls - you are right there are also many tools that can check that for you, including some other factors about the contract along the way (whether you can sell the tokens at all or send them somewhere, etc.).

Hispo

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One of the things I do when I want to research and cryptocurrency which is relatively small and new is to find a Blockchain explorer and see how big the number of whales is, whether there is some liquidity locked in smarth contracts and in general, to investigate whether it would be possible for a single entity to pull the rug and flee with all the money of investors.
I also like to take a look at the official webpage of the project and see how realistic their expectations are in terms of how far their token/coin will go, if they promise too much than it sounds reasonable to me, I choose to stay away, a good project does not need to over-sell itself, their road and tangible advances speak for it.

It would be also helpful to check liquidity pools in Uniswap or other decentralized exchanges not only from a block explorer but also from the exchange webpage itself.

o48o

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Quote from: anarkiboy on July 29, 2024, 12:38:13 PM

If there is any kind of premine or dev-tax - it's a 100% scam Wink

If it's only a token running on other chain - it's a 100% scam Wink

That doesn't make any sense. You are saying that all the coins and tokens that had sales, are scams, because they had a premine, including eth. How have they are all been scams?
Go to coinmarketcap.com, and add filter, then choose tokens only-

After that, explain how every L2 is now a scam, including stablecoins, and please define a scam while doing it. Or are you just pushing some talking points that you have heard and actually don't know what you are talking about?

What comes to question from OP, these days i just try to reward good devs by supporting them and buy. When it comes to tokenomics, i would like them to be able to sustain the price. When it comes to fundamentals, i would like the project to solve an actual problem, or just be created for hype. I can't stand any made up reasons, sales pitches and lies anymore on how blockchain and smart contracts solves everything, and is needed everywhere.

betswift

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Quote from: robelneo on August 06, 2024, 06:57:26 PM

So much depends on the whitepaper and the people behind the project, you won't believe the number of projects that went bust because of faking their whitepaper.
Its not easy to create a whitepaper because of the purpose of the project and what it try to achieve, so be sure to always check the roadmap and check the similarities to other projects.
Many projects are faking the team, they pay people to use their images or they got it from AI because good projects with potential can only be created by capable and reputable people in their industry.

It's true, however, the whitepaper shouldn't be too hard to understand too. It's no wonder that projects with understandable ideas are easy to follow because even a common man can dig a little deeper to get the idea behind them. Take a look at the BTC whitepaper - 9 pages, all information intact, some math here and there, but nothing too complicated to look around, just what's needed and what will be done. Some ideas and decisions that will be made in case of dire circumstances as well.

robelneo

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So much depends on the whitepaper and the people behind the project, you won't believe the number of projects that went bust because of faking their whitepaper.
Its not easy to create a whitepaper because of the purpose of the project and what it try to achieve, so be sure to always check the roadmap and check the similarities to other projects.
Many projects are faking the team, they pay people to use their images or they got it from AI because good projects with potential can only be created by capable and reputable people in their industry.

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Quote from: Qiubell5 on July 30, 2024, 07:13:04 PM

There are many terms to know in the world of crypto assets, I think investors will continue to do research and gain knowledge before jumping into the world of crypto asset investment, and there must also be encouragement for investors to seek information and conduct in-depth research, to invest in crypto in any form so that investors will also benefit from the investment they are making, by making decisions related to crypto assets because they have had mature considerations to enter it.

When you say 'to know' , that sounds like they are necessary or mandatory but I think they aren't anymore because indeed there are many of them but I think only few are only important to take note for a while as a starter. Even without forcing our selves to know them, we will just came across them in our journey here in the crypto world.

For some users, their encouragement is not about learning to earn more but it's about seeing those people who keeps on flexing their gains in the social media sites. This is not wrong actually, as long as we must still follow the proper protocol. When we do, we won't just invest in random shit that only the owner of those coins can benefit but we will always go on the coins that are worth it for every penny that we spend.

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I think investors will continue to do research and gain knowledge before jumping into the world of crypto asset investment

There are just investors who jump in immediately. Their chance to fall is high but some can back up again and continue venturing the right road. For those who already started well, there is a big chance that they will just continue this because they have a patience and they are loving the process. Also they know that the more knowledge they gain, the more profits that they can earn as well.

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Quote from: shinratensei_ on July 31, 2024, 10:04:04 PM

Quote from: betswift on July 31, 2024, 05:51:30 AM

Great points! Allocation can always ruin everything as well, even if all the prerequisites look good to get the profit in the long run. Getting things done is a combination of doing good research on all the projects that are being worked on by you, diversifying your efforts on not one, but some of them that have potential (after the research, of course), and not giving up, in my opinion.

allocation can ruin a project that's new and haven't released their token but once it got into listing, i'm pretty sure the allocation more likely already disclosed and it's transparent.

the tricky part is if the project is new, haven't disclosed the allocation yet and still planning to do TGE, there's chance that they will change around the allocation to incentivizes the insiders more. sometime even if they don't change allocation at all, they will impose sudden vesting that could lasts few years which also means lost opportunity of selling at higher price.

so if somebody really want to invest into a project and do it at their own risk, just be sure to know the prerequisites to prevent ourselves from getting scammed or tricked by the devs Grin

.

Yes, the vesting can be a nail in the coffin too. It's essential to have all starts in line to get the investments you prepared going into the right places, and there are sometimes too many factors to consider, some of them may be small in comparison, but they all play a part in the bigger picture, which shapes what will happen with your money in the project you chose.

shinratensei_

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Quote from: betswift on July 31, 2024, 05:51:30 AM

Great points! Allocation can always ruin everything as well, even if all the prerequisites look good to get the profit in the long run. Getting things done is a combination of doing good research on all the projects that are being worked on by you, diversifying your efforts on not one, but some of them that have potential (after the research, of course), and not giving up, in my opinion.

allocation can ruin a project that's new and haven't released their token but once it got into listing, i'm pretty sure the allocation more likely already disclosed and it's transparent.

the tricky part is if the project is new, haven't disclosed the allocation yet and still planning to do TGE, there's chance that they will change around the allocation to incentivizes the insiders more. sometime even if they don't change allocation at all, they will impose sudden vesting that could lasts few years which also means lost opportunity of selling at higher price.

so if somebody really want to invest into a project and do it at their own risk, just be sure to know the prerequisites to prevent ourselves from getting scammed or tricked by the devs Grin

.

KingsDen

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Quote from: zakster on July 31, 2024, 06:21:33 AM

If you’re not sure how to research projects, it’s tough to do it effectively. So, first things first: learn how to spot a good project from a bad one.

Here’s how I check out projects:
- Who’s on the team, and what are their credentials?
- Is the whitepaper original, or just recycled from other projects?
- How open and transparent are they?
- Are they just riding the hype wave?
- Does the platform have a real use case that helps the community?
- Are any credible companies backing them?

By the way, I’d recommend checking out Pepe Unchained. I’ve done my homework on it, and it ticks all the boxes.

Quote from: aioc on July 29, 2024, 11:10:10 AM

You cannot do your own research if you do not have knowledge on how to do your research, so the first thing that you need to learn is to be knowledgeable on how to look for a good and bad project.

These are the parameters I'm using when checking on projects :
Who are the team behind the project and what are capabilities ?
Is the whitepaper not just a copy of past project?
Are they transparent ?
Do they rely on hype and shilling ?
Do the platform have a usecase that will benefit the community?
What credible companies that are backing the project?

@zakster, you deliberately plagiarised aioc post? You paraphrased it and posted in the same thread. Why do so?
Maybe to earn merits? I doubt...
Ok, to promote PEPE unchain. What will be your reward since you didn't drop a referral link.
Your days in this beautiful forum is just numbered because you will be nuked.

zakster

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If you’re not sure how to research projects, it’s tough to do it effectively. So, first things first: learn how to spot a good project from a bad one.

Here’s how I check out projects:
- Who’s on the team, and what are their credentials?
- Is the whitepaper original, or just recycled from other projects?
- How open and transparent are they?
- Are they just riding the hype wave?
- Does the platform have a real use case that helps the community?
- Are any credible companies backing them?

By the way, I’d recommend checking out Pepe Unchained. I’ve done my homework on it, and it ticks all the boxes.

betswift

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Quote from: Dr.Bitcoin_Strange on July 31, 2024, 05:46:34 AM

A newbie to cryptocurrency who cannot do their own research should either seek advice from a crypto expert before investing on the token they want. Sometimes, newbies cannot even recognize a good project that can generate profit in the long run, despite looking up some strategies that they can think of. Normally, some qualities to look out for on a project before you invest are the transparency of the project and the team, the road map of the project, the white paper and team behind the project, the exchange where tokens are listed, and also checking how active their social media community is. Despite taking note of all these things, it's still profitable to note that not all projects that look great might survive, so an investor must be conscious while investing, putting in the amount they can afford to lose.

Great points! Allocation can always ruin everything as well, even if all the prerequisites look good to get the profit in the long run. Getting things done is a combination of doing good research on all the projects that are being worked on by you, diversifying your efforts on not one, but some of them that have potential (after the research, of course), and not giving up, in my opinion.

Dr.Bitcoin_Strange

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A newbie to cryptocurrency who cannot do their own research should either seek advice from a crypto expert before investing on the token they want. Sometimes, newbies cannot even recognize a good project that can generate profit in the long run, despite looking up some strategies that they can think of. Normally, some qualities to look out for on a project before you invest are the transparency of the project and the team, the road map of the project, the white paper and team behind the project, the exchange where tokens are listed, and also checking how active their social media community is. Despite taking note of all these things, it's still profitable to note that not all projects that look great might survive, so an investor must be conscious while investing, putting in the amount they can afford to lose.

betswift

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Quote from: _act_ on July 31, 2024, 03:30:28 AM

Quote from: betswift on July 31, 2024, 01:18:15 AM

Great point! Nowadays it has become almost mandatory to make the analysis before entering any project, as there are too many projects that are just pure scams or have some details that would discourage people from giving their money in. Thus, it's very important to learn how to find the main points for yourself that would help you to make the final decision on whether it's worth it to invest or not.

Mandatory is not what that should be used but 'important' should be used instead. It is important to do research about a coin or a project before investing in the coins or project. Also know that right from time it is better to do research, especially since 2017 when many of the projects are getting numerous. Also it is good to know that many of the projects are scam or will not yield any profit. I prefer not to go for new projects. The ones that I have gone for because made me lose money.

Important can also be used here, however, in my opinion, without the research, you cannot wish to gain profit and shouldn't be sad if things don't go your way, because you yourself are also a big contributor to that. Many projects are scams indeed, it's a fact that it became harder to find gems to invest time and effort in, however, they are still there, waiting for the right people to find and use them.

Topic: What things to check when it comes to DYOR (Read 450 times)