Time to be brutally honest, a majority, roughly 80% I believe, of all crypto currencies went under during the last bear cycle.
So I'm here to talk about some of the best (from my personal experience) cryptos, and 5 of the worst which I sincerely believe will be extinct during the next bear cycle (not bear market which we are touching now).
The Winners
#1) Cardano - smart contracts no smart contracts, this thing is a gold mine just because of staking being baked into the chain itself. Incredibly easy. Incredibly fast. Incredibly cheap! have an article blog just about merits of ADA.
#2) Tron - Same as Cardano but with way shadier players and rules. I've noticed the amount of energy being delivered for freezing TRX has been diminishing quarterly, thereby forcing people to lock up more Tron to process transactions for free. Also, I am getting random coins from scammers air dropped to me CONSTANTLY. Literally, everyday I get another scam coin with a link to redeem for tron. Of course, those unfortunate enough or naieve enough to actually do click on the link to exchange will have their private keys / and or wallet get siphoned out. But in terms of fees, speed, and transparency, still some great tech. They just need to axe the CEO and find a better marketing team.
#3) Sylo - A token on the ethereum Smart Chain for a chat messaging program on IOS / Andriod. Awesome community. The team's (Sylo team) communication on Telegram can be spotty. They rarely answer questions directly, or with precise dates. But announcement are usually on time, and the coin is so bloody cheap, and the platform has so many users. Staking is coming soon, and so are node operator rewards. They won't respond with approximately how many coins you'll see to stake a node, but it's ok. Thus far, this is an amazing platform, even if I hate, loathe the fact that its on Ethereum blockchain
#4) Verasity - This one is 50/50. While it's been doing very good because I got in super low and jumped out during its peak, I can't say a lot of good things about the team. When you create a wallet on Verasity website, it is EXTREMELY misleading. They are "0 fees", but they never state "0 protocol fees" not 0 network fees. When this was jumping during its peak and gas fees were astronomical, network fees for staking within Verasity website were over $30-40 per TX. When I messaged the team inside Telegram to say "hey, its not really 0 fees", i got banned. lol ayep. straight silenced. So I am just hanging onto a handful from the interest off the other flips earlier. And because they have a patent which I love, I am still a fan of the project / technology. Think about it: What would UNI price be if 1inch, Sushi, Pancake, and other Uni copies weren't around because Uni had a patent? I love patents. But the team? has got to GO
#5) Hex token of Ethereum Network- a DeFi protocol based on Certificate of Deposits. Beautiful upward trajectory. APY was has been steady from staking. What else do you need? Even with volatility, it is holding its own. Even if it dips. I'm comfortable from price entry point.
Losers
#1) Multibridge - Boy was I wrong about this one! the project manager, owner, dev does not give a flying fuck about currency price. 0 communication, 0 initiative. And even though I'm holding a pretty sizable bag, stay away from this one. It is not for the faint of heart, and I'm slowly starting to accept that it may have been a very slow and nicely timed rug pull! But luckily, I didn't sink a lot into it. Based on Binance Smart Chain, it will die off if the person in charge (Tomito you fucking asshole) doesn't do something. Promising tech about bridging multiple chains together. Nothing to show for it thus far. Multiple exploits of farming system. Multiple launch issues.
#2) Banano - Ayep, a place where community is everything. But it's filled with some of most pompous devs I've ever met. They lord over the community in terms of governance, and if you don't agree....tough luck. The few "influencers" in the chat rooms wield so much power over the network you're hard pressed to do anything when things are changed. Best case example - Folding for Ban Rewards. Correct me if I'm wrong, but the entire crypto movement began as a means of diversifying against fiat currencies. The idea being, for supporting the network, you are rewarded with cryptos. I just briefly began folding for Banano and ever since Banano's 3rd birthday anniversary, rewards have been getting slashed. And the users in the community are too enamored by BAN silliness to realize the devs are really diminishing their (users) power by issuing less shares. The early adopters are already sitting on hundreds of thousands, if not millions, of BAN. It's in their best interest to decrease rewards and burn BAN to increase THEIR holding price. But for us suckers who are actually paying in cryptos / fiat for BAN, they're dumping their majority shares. And as you can see, the market does not care about burning mechanisms. Banano burnt several million shares 2 months ago, price buoyed for a little and now back to less than 2 cents. Anyway, that's not even my real issue. By choosing to fold for the Banano team in FAH, I choose to support the project. Plain and simple. I could be doing it for tfuel on Theta Edge node (which I did move over to now). If I support your network, and you cut my rewards for leaving my machine on, and then paint me as a villain for grieving about a continuous decline in Ban rewards, then adios. Everybody in Ban community is pretending like they're saving the world by folding at home via some misplaced sense of altruism but celebrate when the FIAT price of BAN goes up. I thought you were doing it for science? COME ON... Meanwhile, some of just want as much CRYPTO as possible, not because of its fiat value, but because of the inherent value of crypto as a technology. When I voiced my opinion, I got ganged up on (like on most cult-like crypto chats) and was told after all this time, and participation in the community to leave if I didn't like it. Wish granted. I won't support some power hunger egomaniac developer's quest for supremacy over a project like this. So, this was by far the most disappointing investment of my time and resources I've ever felt. And that's even with the rug pull discussed earlier about MultiBridge. I genuinely used to enjoy the BAN community, but it morphed into maximalists, and downright arrogant leadership.
#3) REVV Token - Thank you to the tech gds for helping me avoid this fiasco. First heard about REVV via CoinGecko NFT giveaway via Revv Token's F1 Delta time protocol. Deal was for 6000 candies, you can get an exclusive F1 Delta Time NFT (picture of Formula One car was in the ad). Delivery was supposed to be Mid Feb for NFT redemptions. March passed, April passed, finally in May they delivered. 2 months behind schedule. When I strolled through Telegram channels to ask about the delays I already knew I was fucked. They had NFT sales of F1 and Moto GP packs that were giving issues, people screaming for refunds and team being unable to respond with straight answers. Lost sales, lost refunds, a fucking nightmare of a launch. For people who paid ACTUAL money for these NFTs. Anyway, when time came for the CoinGecko NFTs to drop, some unlucky people, such as myself, got a CoinGecko Bike (surprise!) instead of F1 car. When confronted about their ad, they simply switched ads! The new ads featured a new picture with a F1 car and a Bike. The telegram channel does not allow for pictures of links to be posted (censorship like you wouldn't imagine). These idiots are so clueless and stupid, that they have clients complaining and instead of apologizing and rectifying, they're backsliding and diverting or just plain ignoring! About a month after the CoinGecko F1 Delta NFTs dropped, and numerous people complaining in CoinGecko telegram channel, CoinGecko pulled the campaign from their site entirely. SCRUBBED CLEAN. THE BEST PART? The icing on the cake? The CoinGecko NFTs have 0 utility on the F1 Delta platform. No staking, no racing. Zilch. "Utility will come in the future" was the last message to me via BFG in Revv's Telegram channel. AVOID THIS PROTOCOL LIKE THE PLAGUE!
#4) DOGE Need I say more? I didn't play with this after it passed .10, but sweet jesus this is the apex of herd mentality. This is the human version of sheep walking into the slaughterhouse because the other sheep in front is doing it. No idea why they are there. No idea where it is going. No idea what is actually happening. Just keep walking because the person in front of you is.
#5) ZKS- holy crap this one hurt. A L2 solution that's about as useful as a shit-flavored lollipop. I won't get into the games the devs have been playing to resuscitate this project, but with other L2 solutions taking off (polygon, loopring, etc) this one is sinking faster than a rock in a saltwater lake.
I've been involved in each of these protocol for at least 4-5 months now. So please keep that time frame in mind for my valuations and experiences. Could I be wrong? absolutely? Am I infallible? Absolutely NOT. Could other users have had worse / better experiences on these platforms and coins? 100% This is just a reflection of MY experiences. So please do not bug out or go apeshit when I say something you don't agree with. Especially the BAN community. It was fun, but I felt what I felt, and nothing will change that now.
To me, the scale for any crypto being good or bad, has 3 qualities. - The tech. What is it doing? How is is advancing the cryptoverse? The team - Do they communicate? Do they take constructive criticism? Or just brush off the community of early adopters as "less than us." And finally the community- are they intelligent? Do they understand the tech? and thus derive or gauge its value accordingly? or are they simply there to ape on APY? If so- leave, run, and fast.
Don't be an ape. Don't be a sheep. Use your head, do your own diligence and research.
As always : THIS IS NOT INVESTING ADVICE. DO YOUR OWN DUE DILIGENCE AND RESEARCH. THIS IS JUST ME SHARING MY STORIES AND views / news updates.
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And if you happen to be a Publish0X admin reading this, PLEASE CAN YOU GIVE US THE OPTION OF BEING REWARDED IN TRC-20 tokens vs only ERC-20 tokens? PLEASE IMPLEMENT NON-ERC-20 tokens as rewards. THANKS!
Next article will touch up on DAO's, and the correlation / realization of what an exit strategy is for VC's and how its tied into ICO / IDO / new tokens.... I think the community manipulation of crypto is not fully understood / appreciated....yet
