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How to detect a good crypto-currency opportunity?

Discussion in 'CryptoCurrency' started by adz4life, Dec 23, 2016.

  1. adz4life

    adz4life Newbie

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    Let's talk about how to find 'good' crypto-currency opportunities as the market is flooded with so many crap coins.

    The other day I posted about a particular crypto-currency opportunity that has potential, and the first thing people did was post a picture of the coins price and said 'it's not performing well,' as a means to discredit it.

    That is ridiculous. And just shows a lack of ability to ask the right questions.

    And then the thread was deleted because I tried to bypass the rules and then proceeded to argue with the Mod that I should be allowed to market here and ignore the rules.

    But I realize some people do not know how to detect good crypto-currency opportunities. If your method is to jump on a coin based on the price then you would be victim to every pump and dump that happens on the market on a daily basis.

    That is a poor approach to determining whether a coin is a good opportunity or not. For example let's look at Steem and how it performed when it received a lot of hype and value, and now the coin has lost a lot of value from being worth $5 to now $0.14 cents.

    If you are just someone that solely judges a crypto-currency by price performance then you would lose money, as you are not asking the right questions. You would jump into Steem at $5 then watch it fall to cents again.

    #1 So rule number one; if a crypto-currency opportunity is presented to you and the price is low then that is a very good thing. Because what that tells you is if the coin is good then you are getting in at the best time ever. So never see a low price as a negative, rather it is a chance to take advantage of an opportunity at the best time. Only noobs will use the price as a factor to determine a coins quality not smart crypto investors. So to discredit a coin based on its price is poor judgement.

    #2 So if the coin price is still low. That is a good thing. The next thing you ought to find out is more information about the coin. Because you need to know if the coin would have demand? Which is basically finding out whether the coin would gain value? Why would it have value? What would attract the masses to buy that particular coin than the others? Because at the end of the day that is what gives crypto-currency value is the people. So a serious crypto-currency investor would be finding out the information about the coin whereby they can judge whether it has a concept that would attract people to give it value. They would not care about the price, but the coin itself, it's concept.

    So the questions you need to find out when someone presents a crypto-currency opportunity even if the price is low (which is an opportunity in reality) is why would the coin have demand?

    #3 At this stage you can decide based on the factors that is to give the coin value/demand whether it is something that is going to attract other people when they hear about it or not. A tip: if it is a coin that has a similar concept as another successful coin then I would avoid it as a long term investment. As you find copies never do as well as the original.

    Usually what interests me are concepts that are innovative and unique. Like Bitcoin and Ethereum; both are innovative and unique in concepts and what they provide. If the coin is to get anywhere the concept has to be amazing; innovative and even better if it is solving a real world issue.

    #4 Just say the coin's concept is powerful. So it has got your interest, because the price is right and the concept is there. You are taking it seriously now (unlike the other clowns who just focused on the price and moved on), you see the potential of investing and holding it long-term. It doesn't end there. There are other questions you need to know about the coin. Such as, does it have any infrastructure? Does it have a community behind it or a process to ensure the coin is marketed to gain one? Does it have any usage?

    All important questions in their own right. And the more 'yes' answers with proof would only give you even more confidence.

    #5 Lastly, you need to find out about the admin who is running the coin and the development team behind it. How serious are they? How active are they? How often do they update? What stage are they now in the project? How much progress are they making? What is their projected time-line? And so on.

    The admin is extremely important. Because without him running the show, the coin would go nowhere. So if the coin is run by an admin that means business, and you would be able to tell whether they do or not because their actions would speak louder than words; then you know the coin is a solid investment opportunity despite the price of the coin.

    Now the price of the coin could be low for a hundred of different reasons, and if you did your due diligence (unlike the other noobs who looked at the price and laughed), you would understand why the price of the coin is low, and you would know whether the coin is worth investing in or not. And if the price is low and the coin is worth investing in, you would be ecstatic because you were introduced to the coin at its very early beginning whereby you would make the most ROI, unlike those that come in later when the price sky-rockets.

    So I just wanted to share that to give people an idea on how to detect good crypto opportunities and what not to do.

    I picked it up from experience, and believe me when I tell you asking the right questions would help you not waste any money on hype pump and dump crap, nor would you be tempted to buy or not to buy a coin because of its price, and you would be able to sieve through all the crap to be able to find the coin's that are worth buying.

    I hope that helps...

    Sadly, the other day everybody was a bunch of noobs and there was not one serious question asked. The only focus was the price. Hence, I realized many people still don't know how to detect good crypto opportunities.

    P.S. @BassTrackerBoats you should write notes...
     
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    Last edited by a moderator: Dec 24, 2016
  2. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    I keep telling you I have no interest; I am not sure why you think I should take notes.

    Makes no sense.
     
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  3. Neon

    Neon Jr. VIP Jr. VIP

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    Go and write them notes down BTB it's an order... how came a guy like you is not interested in Cryptocurrency... unbelievable and disgusting!!!
     
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  4. terrycody

    terrycody Supreme Member

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    TL;DR

    Are your trying to educating us about crypto things? ummmm, sounds weird but, as I can see, these things are more of a gamble, I know bitcoin when its around $30 and now.... You can't just easy predict it good or bad tomorrow.

    I heard z-cash is popular these days, and I even no idea what is this shit.
     
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    Last edited: Dec 24, 2016
  5. adz4life

    adz4life Newbie

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    What investment isn't a gamble?

    Obviously, crypto-currency is for risk takers. If you are not a risk-taker then they are not for you.

    And it is not weird to educate people on crypto because most don't have a clue about it, or how it works etc.
     
  6. terrycody

    terrycody Supreme Member

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    Com'on buddy!

    How could ur first post and know BTB about this? One say go fxxcing others didn't mean he will actually do that lol, bitcoin is cool, yea, we all interested, thats all and over, no need to take shitnotes.

    Calm down about your coins and have a nice holiday!
     
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  7. towelfox

    towelfox Junior Member

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    Pretty sure BTB has made appropriate notes regarding your post.

    Alt coins are a waste of time other than to trade and gain in bitcoin or fiat. It's all too faddy anyway. Yes, digital currency serves a purpose for the fringes but there's really no way it'll get too far beyond. IMO, of course.
     
  8. adz4life

    adz4life Newbie

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    I agree that a lot of them are a waste of time, but not all of them. And obviously it depends on what you expect from a coin too. If you expect to turn cents into dollars then there are some good opportunities out there. It is just about knowing how to find them and detect them.
     
  9. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    You seemed to understand that you could not promote your stuff in this post yet you continued to try and do so.

    [​IMG]
     
  10. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    You even thanked this post:

    [​IMG]

    You understood; you just didn't care.
     
  11. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    It is plainly written in the rules which were sent to you when you signed up. Your promotion of the other forum was, "Right now, even if you go to the redacted forum you would find redacted in the group there."

    And you were shown the correct way, and thanked the member that shared the way, yet continued to try and circumvent the rules... 3 or 4 times you did it in that one thread.
     
  12. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Jr. VIP

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    Another good way to detect a good crypto-currency is not to take advice from somebody who has previously openly promoted a currency.
     
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  13. adz4life

    adz4life Newbie

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    Doesn't make sense what you just said...

    So by your understanding, when Bitcoin was at a few dollars if someone approached you and told you about it and it's potential with solid information and facts; by default it is to be rejected because it is coming from someone who is promoting it?

    Hmm... interesting logic. Good for you, mate.
     
  14. raregem009

    raregem009 Junior Member

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    Thanks for the share. Experience is indeed the best teacher and i have learned from your experience. I am curious about crpytos. My friend has recently told me about gamecredit. He said it has some potential and i should buy now that the price is low. What is your opinion about the coin? Kindly mention a few coins you feel from experience has potential now. Thanks
     
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  15. adz4life

    adz4life Newbie

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    Finally someone that I can have a decent conversation with on here :)

    I haven't heard of GameCredit until now, but I just quickly checked it out.

    What I can see is that it has an interesting concept that can potentially take off. I am not much of a gamer myself, so I probably won't ever use them for its intended purpose. The coin is targeting a niche market which is the gaming industry, but at the same time that is a big industry. So the GameCredit project would really take off if game companies jump on board and accept the coin as a payment option, and make it easy for users to buy it and use it. If that happens then the coin would have a lot of demand which would give it value, and make people who purchased it at cents make a nice return.

    I don't know much else, except for quickly just checking it out now and looking up its purpose. So I am not sure how well they are doing in terms of their goal of getting the coin used within the gaming industry or how they plan to go about it etc.

    Maybe your friend can give your more 'info' just make sure you ask the right questions.

    And remember for any crypto-currency to take off it has to be liked/used/accepted by the masses. So if you see the evidence that GameCredit is a coin that is going in that direction of being accepted by the gaming industry and you can see it happening, based on what they are developing and how they are marketing and the progress they are making. Then it could potentially be a good investment considering now the price is still low. Because in my opinion the concept is interesting and is creating another payment option for the gaming market that offers qualities that conventional payment systems do not.

    So for this coin to be successful it has to break through into the gaming world successfully - because I do not know much about that world and just heard of the coin I can't really say much else on it, unless I did further research.

    Another coin that I know of which also has an interesting concept is MaidSafeCoin (MAID) which is a big project that is trying to build its version of the internet that is secure, putting users in control of their data without going through companies that have access to our personal data. I haven't been following the project's progress but the concept is interesting and I can see that potentially taking off too if they can pull it off.


    Hope that helps...
     
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