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.