In a world driven by hype and FOMO [Fear Of Missing Out], It is becoming clear day by day that in a world of persistent crypto enthusiasts where sustainable sustainable projects are harder to find and better projects with long-term potential are more powerful to separate from money laundering, Litmus needs to be tested to pick a token to support ‘shitcoins’.
With recent events where most new cryptocurrencies have fallen below record, and new ICO projects are not living up to their hype after the crowdsell, frustrated ‘investors’ are now turning to social media to blame ICO promoters before buying tokens after posting their ICOs. They themselves are the ones who do not have the proper perseverance to pick a potential winner.
From my extensive observation, it appeared that most crypto buyers bought only coins during ICO based on the FOMO (Fear of Missing Out) created by the masters of the hypes behind these currencies. Many people just bought the currency without understanding the post-ICO intentions or what to do with the tokens after the crodsell. When nothing happened after the ICO, as is the case with many ICOs now, they would jump on social media to shout bloody murders.
Recently, my team and I have just finished touring parts of Africa and the USA to promote the Nalicone ICO. We have organized and sponsored various conferences, held live AMA (ask me some) press meetings and held many meetings together with crypto whales, small investors and crypto millionaire vanabs of every color.
After all, one thing that surprised me the most was that most token holders had no clue about the underlying business or project behind the token sales they took.
Unfamiliar to my observations, it was an amazing fact that many could not tell you the value proposition of the project, its objectives or the company’s plan to disrupt the marketplace and occupy a bunch of buyers in their industry. They only bought ICOs because several telegrams or Facebook pages they saw were ‘buy’. Huddle and buy more ‘. Most simply acting on animal instincts rather than purposeful consideration.
Now, if most of the people I met weren’t just teenagers or educated people, I wouldn’t be so surprised by the level of ignorance of many of the crypto ‘investors’ I met. By contrast, most of the people I met were college graduates and people of some sort. Yet less than 10% of them can easily tell why they bought a coin in the hope that it will increase in value over time. Wherever I went, very few people in the crowd could tell me the names, experiences, and skills of the corporate managers of this money-selling company.
Most of them can only mention that the coins were recommended by the ‘respected’ influencer when the facts prove that most of them were given cold to make FOMO and otherwise revered for useless shitcoins.
In addition to the so-called bogus influencers, many crypto buyers knew that the leaders of this group were named Russian, Chinese, or Korean, although they knew absolutely nothing about them. It seemed like your successful ICO needed to list the names of people from Korea or China or Russia that no one could even verify through a simple Google search.
While I agree that there are many factors to consider in deciding whether a project’s token value will increase over time, I think the currency itself should be useful in crypto exchanges outside of what would be the acid test and the most immediate evaluation criteria.
Although most crypto token owners I see don’t know this, the reality is that if you bought a token from most ICOs, you didn’t really ‘invest’ in that company. You are not buying shares of the company and you are not buying any protection from the company.
And most of all, most of the time you were buying tokens during ICOs, what you were doing was ‘granting’ for a project that was in exchange for a utility token or currency that had no real value legally outside the business ecosystem controlled by the issuing agency.
Literally, without your expectation that the price of the token will make you ‘moon’ or make you a millionaire, there is nothing you can do with the token other than enjoying the utilities associated with the ICO, if any.
Since finally getting there no one could really predict how crypto would perform on a crypto exchange, and the most recent experience has shown that most token prices probably sink their noses in the first few weeks of an exchange (due to speculators stopping big sales). You will have some idea of what other value or utility you can get from your token outside of the expected ‘muning’ of the exchange.
As the crypto revolution continues, adapting to various developments in size and market, the only way to ensure that your money is not being wasted is to make sure you can still use those tokens to get those valuable values and benefits even if you are with an exchange. You can also sell it for profit.
When making this decision you must ask yourself this initial question: What is the value, product or service that the company generates that sells tokens can give me enough value for this cash to make this purchase worth my money?
In the world of token crushing on different exchanges, you will have more opportunities to gain real-life use with tokens outside the expected list of crypto exchanges, the better the token that is useless to you the more likely you are to get frustrated or stuck.
So, you must ask again and again: if this currency never trades as an exchange, can I still be happy that I supported the vision? If this token loses 70% of its value in exchange, can I still use it and get my money’s worth with it?
If you can’t answer this question positively after reviewing WhitePaper and investing in the company’s claims, you should think twice before buying that currency.
A recent case-study
Take a current ICO like Noliquin that tokens a blockchain capable movie distribution ecosystem. Coin promoters have created a variety of utility situations for coin buyers to ensure that their supporters and token holders will keep smiling, no matter what happens to coin buyers in the case of cryptocurrency exchanges.
Includes some of the great utilities associated with the Noliocoin token in the Nolification ecosystem
The ability to use naliken tokens to watch exclusive movies in cinemas and cinema houses
Their ability to use nociceptive tokens to access a trillion movies in their Netflix-on-steroids blockchain movie distribution.
Ability to use Nalikain tokens to purchase products and services in Nalimle, like the Amazon platform for entertainment-based products.
OL NOLLY Academy Platform and the ability to use Nolliken tokens to pay school fees on partner organizations
As you can see, out of the general expectation that tokens can be listed on a crypto exchange platform, you need to see the immediate and potential utility of the token and potential of the underlying project behind the hype of an ICO.