In this stage of Web3 crypto-based tech, adoption is more important to price than any project use case. Shillers know that their chosen projects are pure speculation, and they know that anyone asking tough questions will break the spell. There are no answers to give, most likely. So they deflect and call it FUD.
In order to make life changing money quickly in crypto, you have to invest in projects before they are fully rendered. Or so they say. I say that was true in 2017. It's not true now.
This isn't popular to talk about in a bull market. But it is necessary. In bull markets, you will also have more scams. If you don't know what to look for, you will end up losing money while everyone else is buying lambos.
2020 and 2021 will be a bit different from 2017. In 2017, the crypto market was brand new. It was the Internet in the 90s — the first bubble, not the second one. We're in the second run this time. Mark Cuban wouldn't have made a billion dollars if he came around during the 2000s. Don't try to be Mark Cuban in 2021.
What do I mean?
The projects that will make big noise in this altcoin season won't be the little silly college dorm room shit. If you have your money clogged up in that shit, get it out and put it in a project that has shown some legs. Theta, Chainlink, Utrust — these are projects that have real utility. You may think their market caps are too big for a 20 or 30X, but you're missing one thing. When the entire market cap of crypto blows up because mainstream adoption increases, the ceiling for all projects rises. Suddenly, blue chip altcoins aren't topping out at $1 billion. They are topping out at $30 billion.
I can even forgive you if you go into more speculative projects like Chiliz, Digibyte, Ankr, Akropolis or Matic. Projects like this have shown some longevity and have good teams. I believe they will pump even if they don't have mainstream partnerships like Theta does with Samsung. But I don't believe you have to go hunting for sub-$1 million market cap "gems." I'm staying away from Dextools and the pump and dump Telegram groups. There's plenty of money to be made in Ethereum hitting $1k or Chainlink going to $50. Splash a bit of that money down into top 250 coins, and you'll be set.
I got involved in a number of completely shit projects on the Ethereum blockchain that I can't get out of. The fees that it would cost to unwind the liquidity pools make it impossible to get any value back out. Let me tell you which of these dorm room garageband shit projects I was in, because I'm still salty I got fooled into investing in this fucking shit: Xiot (complete shit), DGVC (bunch of promises with nothing delivered, Dego (crappy NFT protocol). What a bunch of fucking shit projects and I hope the devs get every bit of their crypto rekt for making me invest in that shit.
I should be happy those mistakes only cost me a few thousand dollars. Now I'm set up to recognize good products and not go dumpster diving. Another tip I can share — don't throw good money after bad. If a project fails at launch and takes a huge dump, then the devs start making excuses and the Telegram group starts yelling "hodl hodl hodl" while the participant number slowly dwindles, GET OUT. The project WON'T come back, the devs WON'T perform a miracle. Take the ETH you have left and get OUT.
These tips should keep you on the straight and narrow this bull run. It should be easy to make money. Don't make it hard. And don't let anybody else tell you how to make money or say you can't ask questions. You can bet that anyone doing this is scamming you.
