- Street: Albrechtstrasse 51
- City: Ingolstadt
- State: Alaska
- Country: Germany
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- Listed: March 18, 2019 9:46 am
From a world driven by hype and FOMO [Fear Of Missing Out], it has become clearer every day which your diligent crypto enthusiast should have a litmus test for picking a token to support in a world where genuine viable projects take time and effort to find and good projects with long term prospects are even harder to distinguish from money grabbing ‘shitcoins’.
With the recent developments where much of the cryptos are hitting record lows, and new ICO Projects not living anywhere up to their hypes following an Crowdsale, it buy a common for disappointed ‘investors’ to bypass blaming the ICO promoters on Social Media, rather than blame themselves for not doing the proper due diligence to take a most probable post-crowdsale winner having a unit a token during its ICO.
From my extensive observation, it appeared that most crypto buyers simply bought coins during an ICO based within FOMO (Fear of Missing Out) due to the masters with the hype behind those coins. Many simply bought without must post-ICO purpose on the coin, or what the token was should do after the Crowdsale. When nothing happened after the ICO, as is truly the case now for some ICOs, they would then jump on social media to scream bloody hard.
Recently, myself and my team just finished a tour of Africa and some parts of USA to promote the Nollycoin ICO. We organized and sponsored different conferences, did live AMA (Ask Me Anything) press meetings, and held lots one-on-one meetings with Crypto whales, little investors, and crypto millionaire wannabes of every paint.
Through it all, one thing that amazed me beyond all else was that MOST token holders had Little idea about the underlying business or project behind the token sales they participated in.
Even stranger in the course of observation, was incredible fact that many could not a person the value proposition of the project, its objectives would be to plan of the actual to disrupt the market industry and grab a chunk of the buyers in their industry. They simply bought the ICO because several telegram or Facebook Pages they visited kept telling them to ‘Buy. Hodl and buy more’. Most simply acted on herd instinct rather than objective deliberation.
Now, if most of the people I met were just teenagers or people without education, I will not have been so astonished at the level of ignorance of many of the crypto ‘investors’ I met. On the contrary, many of the above I met were college graduates folks of some results in. Yet less than 10% of them could readily articulate why they purchased a coin in expectation that it would increase in value over time. Everywhere I went, very few in the crowd could tell me the name, experience and capability for this corporate managers in the company selling the coins.
The only thing most of them could point out was that the coins were recommended by ‘respected’ influencers when facts have proved that talked about how quietly were paid chills to create FOMO and respectability for otherwise useless shitcoins.
Beyond the so-called bogus influencers, all many crypto buyers knew was that the names for the team leaders were Russian, Chinese or Korean though they knew absolutely nothing about these animals. It was as if gather needed to have a successful ICO was chatting names of people from Korea or China or Russia that not a soul could even verify having a simple Search engine.
While Certainly there absolutely many a few deciding if thez tokens in regards to a project would increase in value over time, And also the the acid test, along with the most immediate evaluation criteria, should emerge as utility of the coin itself outside of the would happen in the crypto exchanges.
Though most crypto token owners I met didn’t even know it, the truth is that in case you bought an expression from most ICOs, you were not really ‘investing’ in that company. You would not be buying shares with the company additionally were not buying any security via the company.
And at best, a person were doing when you purchased tokens during most ICOs was ‘donating’ to a project in exchange to being given a utility token or coin that legally didn’t have real value beyond the actual company ecosystem controlled by the issuing company.
In order words, on top of your hope that immediately the tokens would ‘moon’ or rise to mean that you are a millionaire, there is not much else you could do utilizing token in addition enjoying the utility attached to it the particular ICO company, if your.
Since a single could really predict certainly how a Crypto would perform on a crypto exchange when it finally got there, as well as most recent experience have shown that automobiles of most tokens would definitely nose investigate further the first couple of weeks of hitting an exchange (due to large sell offs by speculators ), might make some sense that you could look at what other value or utility vital derive from your token, after dark expected ‘mooning’ on
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