A lot of people here seem to fit into one of these categories:
- You’re too caught up to explore newer options that are really needed
- You’re too focused on finding that perfect 1000x project and just want someone to tell you where to invest instead of doing your own research
- You’re lost in the dreams your project keeps promising
- You’re spread too thin across many low-quality coins (Warren Buffet’s strategy doesn’t apply here)
If you’re curious about what Bitcoin and Ethereum founders were doing when they came across those projects, it was none of the above.
They were doing their own research, connecting with developers and learning about the benefits and drawbacks of each project. They realized how valuable mining was – let’s highlight that word.
Remember mining? That’s how serious investors got involved, because they had to actually educate themselves to see whether these projects were worth their time and effort.
Most of the low-quality coins out there are just giving away tokens to venture capitalists, influencers, and exchanges, over-promising everything while failing to deliver anything beyond more tokens on the market.
Did BTC and ETH operate like this when they first started?
Exchanges like Binance haven’t been anyone’s ally either; they have made things worse along with ETH, making it too easy for low-quality coins to spring up.
The market is filled with junk, and promising projects with great ideas rarely get noticed because everyone is chasing quick gains. Most stories about winning with memecoins are just marketing tricks.
The true beneficiaries are the token creators, influencers, and exchanges. If this keeps up, regular investors will be left empty-handed in a few years, particularly those who make poor choices.
Now you might think, but I have a great project!
Chances are, it’s not that great. Without mining, there’s little motivation to learn and build. Developers won’t jump on board if the vision isn’t clear or if the utility isn’t there. Just layering more features won’t cut it.
Incentives are vital for attracting talented people to your project without cost.
You might argue that your project does include mining!
Alright, has the vision they promised two years ago come to life yet? This is crypto, not a slow-moving game. If you have the developers and funds, it shouldn’t be overly tough to build. The only reason things are delayed is likely a lack of developers or a realization that the project wouldn’t succeed, yet they don’t want to lose trust.
Good luck out there. I truly hope crypto can eventually get back on a positive path and move away from all this memecoin chaos.