There are over 1,400 different coins on the market with thousands more planned for this year. It is getting harder and harder to figure out what ones are going to actually see their white paper through, and which ones are in it to make a quick but with no intentions of ever really finishing the project.
For me there is one major thing that successful projects do well, and that is communicate. The best projects that are actively trying to bring their white paper to fruition are also the ones that are communicating to their communities.
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The ones that have something going on, like to share it. It helps make their community comfortable in supporting their project.
When you had a good day at school when you were a kid, you ran home and told your parents. When you were in trouble, you wouldn't say a word about what happened. You would go silent and hope the problem would go away. Well, that is if you were like me. lol.
I see things the same way now. The projects that are having great days working on their technology and building their network, like to talk about it. The ones that are not working hard, don't share much.
Here are two examples. (For the record, I hold some of each of these examples.)
If you go to the Cardano (ADA) website, you will see a tab called "transparency" and they have a weekly audit section where they talk weekly about what each division is doing.
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In comparisson - If you go to the Reddcoin site, and click on blog, the latest blog was back in October.
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Now I'm not saying you shouldn't invest in Reddcoin just because they don't update their blog, but I am saying that the ones that are updating constantly and showing "transparency" are instilling more confidence in this investor.
Back when this whole run started taking place, I started making decent profits and I diversified into many different projects and coins. Now that I've made decent returns from the coins I diversified to, I am looking to consolodate into some of the projects that I like the best.
Now I like the idea behind Reddcoin and they have done some good things, but if Facebook launches it's own tipping system without buying up Reddcoin then the value really isn't there long-term.
ADA has more control of its destiny. If it can build what it plans, it could be a huge home run over the next few years.
As 2018 progresses I think we will start seeing all these new crypto investors who got in recently to get rich, will start really learning the market and start pulling money away from bad projects and start really getting behind the good projects. The ones that are communicating to their communities and proving they are building what they said they said they would are going to win big this year.
Remember this isn't financial advice, these are my observations I'm just sharing with you. Everyone should always do their own research because knowledge is money in the crypto game.
Thanks for reading.
Do you think a projects communication is important? Let me know in the comments below.
