How do you find worthwhile projects?

[happyboy]

With the issue around the token that Javier Milei (Argentina's President) endorsed, and how badly it turned out, it has become obvious that trusting top names or even celebrity with how you engage with crypto is very risky business.

It has become very obvious that more than ever before doing your own research is extremely important, and this only works if you know how to.

Some of the things to look out for is the cliche white paper and team behind the project, you also want to lookout for its tokenomics, to ensure the token distribution isn't just a cash-out plan for insiders. You can also use explorers to track the token's movement. These are just some of the few I remember, I'd also appreciate inputs under this for how others research projects they want to invest in.

 

[sheet]

Traditionally yes we have to look how good is the whitepaper, the use-cases and the people behind the project before we go in the water and get wet. The problem is that the market is already changing....most especially with the avalanche of memecoins where those things I mention do not matter that much anymore. I don't know but I think the cryptocurrency market is not evolving well on this aspect though there will always be good and solid projects around for sure but they are not getting the exposure and the support that they deserve instead we go for something that is hyped up with the aim of getting tremendous ROI on our investments. These days analyzing which projects will go on and make it to the top can be so difficult...we are now entering into the great gambling era of the market. Hence we will be prone to the pump and dump projects in the coming months...and I don't know whose fault is this situation.

 

[Keaton]

Of course it's very relevant and necessary to do as you said above that your own research is very important but I myself am currently looking for something new and I am less intense, just focusing on the old and time tested ones. If there is, I try to find an APY token model like BUIDL Auto-Staking Protocol. The development is very good and it can be seen from their presale achievements. But I don't always hold on for just a few weeks. The current price is 1 BUIDL = $23.77 in pancakes and it will likely go up again after they list on other exchanges.

 

[Ruth]

Maybe just pick from the projects that stood the test of times instead of hunting for these so called 'good projects'? There are so many trash new projects anyways that spending time to even read one or two pages of their whitepaper is already a huge waste of time. It's better to save your energy and let the market weed out the bad eggs for you.

 

[happyboy]

Traditionally yes we have to look how good is the whitepaper, the use-cases and the people behind the project before we go in the water and get wet. The problem is that the market is already changing....most especially with the avalanche of memecoins where those things I mention do not matter that much anymore. I don't know but I think the cryptocurrency market is not evolving well on this aspect though there will always be good and solid projects around for sure but they are not getting the exposure and the support that they deserve instead we go for something that is hyped up with the aim of getting tremendous ROI on our investments. These days analyzing which projects will go on and make it to the top can be so difficult...we are now entering into the great gambling era of the market. Hence we will be prone to the pump and dump projects in the coming months...and I don't know whose fault is this situation.

This makes a lot of sense, I especially liked the part about entering the "great gambling era". Do you think there's a way we can fix these issues you mentioned?

 

[happyboy]

Maybe just pick from the projects that stood the test of times instead of hunting for these so called 'good projects'? There are so many trash new projects anyways that spending time to even read one or two pages of their whitepaper is already a huge waste of time. It's better to save your energy and let the market weed out the bad eggs for you.

I get what you mean, but do you think this might have like an adverse effect long term, where people are not inclined to engage with new projects?

To be fair, like you I'm not a big fan of these kind of projects especially memecoins.

 

[Perkins]

I guess it depends on the background. Knowing that Argentina is a third-world country, based on the readings that I have seen, a lot of people now are hesitant about those kinds of things because of the recent meme coin fiasco with Trump. Maybe a lot of people have sorted this out as a potential money-making opportunity again, and that’s how they entered Libra. Then, poof, dumped.

It’s really hard to process what is good and what is not, but you need to manage your risk when you are involved in this type of market.

 

[LeeSosa]

With the issue around the token that Javier Milei (Argentina's President) endorsed, and how badly it turned out, it has become obvious that trusting top names or even celebrity with how you engage with crypto is very risky business.

i do not trust celebrities or popular people endorsing a coin especially if i know they have no background in that sense anyway they are just saying whatever they are being told to say and i would not be fooled

Some of the things to look out for is the cliche white paper and team behind the project, you also want to lookout for its tokenomics, to ensure the token distribution isn't just a cash-out plan for insiders. You can also use explorers to track the token's movement. These are just some of the few I remember, I'd also appreciate inputs under this for how others research projects they want to invest in.

honestly speaking there is no 100% guarantee that a good looking project becomes successful over time but there would at least be signs showing you how much chances it has you are right that tokenomics must be heavily taken into account

check what would be the distribution of coins be like , how much in total would be in circulation, how much will be allocated for airdrops, how much would be given to the team and how much will be left for sale these are things that are important but sometimes are overlooked

 

[Harmon]

I've always said in the past that focusing on the established coins is by far the best strategy if you don't want to get scammed or don't want to get rug pulled just like what happened a few days ago.

Sticking to the established coins is for me the safest strategy, but I'm not saying that it's 100% safe though because there are still coins that are ending up as a failed project for various reasons. FTX and Terra Luna are the most recent ones. In general, established coins have a proven track record, been tested in the market hence, they're less risky. Focusing on them would reduce of the chances of being a victim on these scams or rug pulls.

There are some things that you should consider if you're trying to find good projects such as the developers, the community behind it, the tokenomics itself, the whitepaper, and how secure it is.