If It Does Not Have Solid Use-Case, Don't Get Involved

[VicManton]

It is obvious now that the increase in the number of crypto projects jhas given room for others with a selfish aim of deluding the ignorant crypto enthusiasts and even some pro traders into getting them and them amking away with the profits they have made from fake promises which they make to look real.

We have seen scam tokens out there in the likes of Luna, OneCoin. How you can identify them is to look if they have hte same purpose like Bitcoin and Eth, and this does not mean every new tokens out there don't know what they are doing, it you thinnkt that is what I meant, then you are going to miss out on important oppotunities oyu should not. A good example of something new and yet authentic is Swarms, it aims to be the definitive and most reliable multi-agent LLM framework, offering developers the tools to automate business operations effortlessly. if you study it like, you will notice that it provides a vast array of swarm architectures, seamless third-party integration, and unparalleled ease of use. This is a good exmaple of a serious project with the aim of growing in the future.

Take note once again of the use-case of any of your favourite token out there before you dable into what you will blame. If you have any concern, let's descuss it too. what do you look out for in a token that indicates it has a good proespect?

[Ziskinberg]

It’s not just about what you should be looking for, it’s only a slice of the pie. You should also check who’s running the project. If they don’t have a good reputation, that’s already a red flag, it’s almost automatic at this point. The scam rate in the altcoin market is insanely high, so DYOR is a must before investing. Since we’re using this forum, it’s smart to focus on altcoins that have an ANN thread. That way, we can track their development and directly ask the devs or their reps any questions we have.

[Odusko]

It is obvious now that the increase in the number of crypto projects jhas given room for others with a selfish aim of deluding the ignorant crypto enthusiasts and even some pro traders into getting them and them amking away with the profits they have made from fake promises which they make to look real.

This is not new and ever since the altcoins boom in 2017-2018 down to this very moment, a lot of fake and worthless coins have been minted and sold to investors without any value or even exchange to trade them, so for sure the scam potential in the altcoins projects is alarming.

We have seen scam tokens out there in the likes of Luna, OneCoin. How you can identify them is to look if they have hte same purpose like Bitcoin and Eth, and this does not mean every new tokens out there don't know what they are doing, it you thinnkt that is what I meant, then you are going to miss out on important oppotunities oyu should not. A good example of something new and yet authentic is Swarms, it aims to be the definitive and most reliable multi-agent LLM framework, offering developers the tools to automate business operations effortlessly. if you study it like, you will notice that it provides a vast array of swarm architectures, seamless third-party integration, and unparalleled ease of use. This is a good exmaple of a serious project with the aim of growing in the future.

This part sounds chilling to me I don't know why you give so much support for the so-called swarm project and what makes you feel it can achieve success, given the fact that the project users are not real-life operational.

Take note once again of the use-case of any of your favourite token out there before you dable into what you will blame. If you have any concern, let's descuss it too. what do you look out for in a token that indicates it has a good proespect?

Userscase and an active community to support the product and provide adequate liquidity for the market, take coins like BNB for examples of a real coin with supportive ecosystem.

[aioc]

Take note once again of the use-case of any of your favourite token out there before you dable into what you will blame. If you have any concern, let's descuss it too. what do you look out for in a token that indicates it has a good proespect?

How I wish only coins and tokens with usecases would remain and supported by investors, but we have investors who prefer quick profit to usecases, which is why the popularity of memes is exploding; there's no usecase, only narratives that touch the hearts of the investors that made them touch their pocket to invest.
The bottom line is that if you want a long-term profit, projects with use cases should be part of your portfolio.

[el kaka22]

This could be sort of true, while I did see some projects with low to zero utility that got higher, it is a rare thing and usually doesn't happen. Almost all of the coins and tokens that I saw doing fine, ended up being stuff that had a proper use-case.

And I do not mean just any use-case, if that was the case anyone would make anything with the worst use-case and would get rich. That is not true, the way it works is that you need to have a use-case AND also it has to be something that everyone wants to use as well. If people are not using it, then it is not really a good use-case and the price won't go up. So for any project to do good, it has to has a great use-case that gets attention from thousand, if not millions of people.

[uchegod-21]

It was only in the early stages of this industry that use cases were very much important in the discovery of a good projects.

It was also at that time that whitepapers and road maps were very much necessary in discovering the purpose and essence of a project, perhaps how long it will last.

Today, many projects do not have white paper neither do they have road maps nor use cases but they have made many millionaires in the industry by depending only on social media hype and trends.

[DeathAngel]

Yeah I miss the days when there weren’t so many coins, so much shit. There are so many scammers with so many potential rug pulls, seemingly everywhere you look. Proceed with extreme caution when looking for new Altcoins to invest in, there are just so many banana skins that can cause us to financially slip up.

[Dr.Bitcoin_Strange]

While investing in some of these new altcoins, best decision you can make is to do a proper research about the token before going ahead with the investment and secondly, you need to invest just the amount that you can afford to lose because those tokens can be very disappointing some times. Also, know that you can not hold those new tokens as a long time investment.

[Patikno]

what do you look out for in a token that indicates it has a good proespect?

➥ Hype has succeeded in proving that encouragement can make someone make a profit on their investment, so one way to look at it is to see what narrative is developing, that's the first thing.

➥ The second thing is whether the project is a new use case or at least a game changer. Look at how tokens are priced with new use cases, they bring new colors to the market.

[bettercrypto]

There are several crypto assets that have no use case in this era, even though several years have passed but they are in the top listing in the crypto market until now they are in the top market listing, and one of them is the Pepe coin, Shiba Inu when it started also had no use case, even Doge, and others that are new are also in the top which only rose up in the crypto market last year.

So, that means it depends on who created it, and who are the people behind this coin project. That's why it's important that we know how to research the right coins here in the field of crypto business. Although, the majority of the no use cases are really high risk. That's why it's also important for us to be risk takers as traders and holders.

[X-ray]

market is smart now , if they want to invest in obscure use case coin just for the volatility, they'd went all in to meme coin or shit coin in general altogether instead of alts with unclear use case and if they want to invest into strong coin based on fundamental they'd make sure to find one.

so yeah the statement about not investing in alt with weak use case does hold some truth.

but sometime the use case is so bleeding edge we, not the so technical people won't understand what those developers are saying when it comes to the project purpose.
so it honestly depends, I generally would stick to defi and L1.

[pooya87]

The only altcoin I can think of that has a use case we can call "solid" is Monero; and even that has its own issues. Otherwise all the other altcoins are useless. Take the biggest shticoin of all times that you named as well: Ethereum. It is one of the most useless shitcoins around. The only utility it provides is a platform for scammers to create even more useless tokens to sell to newbies and gamblers.

This is why you should never "get involved" in any altcoins at all. Just make short term profit and get out as quickly as you can before you get dumped on.

[stadus]

Most of the altcoins I invested in before had great use cases, and I was really optimistic they’d generate a fortune for me in the long run. That’s why I decided to HODL. But it turned out I was wrong. Even if a project looks promising, its success still heavily depends on the people behind it.

You know what? I ended up failing with most of those investments. That’s why I’ve decided to minimize my risk when it comes to altcoins now, no matter how hyped or appealing the project seems. It’s just not worth the gamble anymore.

[coin-investor]

Take note once again of the use-case of any of your favourite token out there before you dable into what you will blame. If you have any concern, let's descuss it too. what do you look out for in a token that indicates it has a good proespect?

Unfortunately, this is not the case with the majority of investors; it seems it is secondary to them; they go where the money is. Just recently, Elon changed his name into a name on one meme in the Ethereum, and because of this meme, Kekius Maximus pumped 400 times.

Elon Musk Changes Name, Shills Extreme Meme
It's hard to believe that Elon Musk recently changed his X account name to Kekius Maximus, coinciding with the name of a meme on the Ethereum network. 🚀Kekius Maximus immediately surged 400 times to a price of 0.07657 USD at the current time.

https://www.binance.com/en/square/post/18298842138866

They follow influencers who shill tokens, even though these tokens do not have use cases. This is one of the risk of investing in cryptocurrency; its hard to resist FOMO because they have seen how memes made a lot of profit from investing in no-use case memes.

[Webetcoins]

market is smart now , if they want to invest in obscure use case coin just for the volatility, they'd went all in to meme coin or shit coin in general altogether instead of alts with unclear use case and if they want to invest into strong coin based on fundamental they'd make sure to find one.

so yeah the statement about not investing in alt with weak use case does hold some truth.

but sometime the use case is so bleeding edge we, not the so technical people won't understand what those developers are saying when it comes to the project purpose.
so it honestly depends, I generally would stick to defi and L1.

Or do you mean people/investors? Meme coins has no use case but they are indeed much volatile than the other. It was also the alts who has a clear use case and this is where people should invest their money. Even though it is less volatile but their gains here is still consistent. Investors may only need to be patient a little to attain its full potential. If we can't understand a thing, there is always a community like Bitcointalk that we can ask about.

There is no point of being intimidated immediately about them because we might miss a very good opportunity that is rare to find. L1's are the pioneer and there might still be some DeFi's that are still kicking. So as long as you already prove their worth why not?

[markm]

A clear use-case I have learned to look out for is usefulness for building buy-sides for other things with.

Because many aggregator sites seem to rely upon buy-sides to compute supposed values of things, being able to securely build buy-sides is very important.

It is of course also important as a way of building strong resistance to "dumpers".

The problem with bitcoin being for so long the main buy-side asset useful to build buy-sides for other things was fly-by-night and "oops sorry we got hacked" centralised exchanges.

I was attracted to HORIZON and then to Stellar precisely because they let coins that are still safely in your own non-custodial wallet serve as buy-side for other assets.

It is of course unfortunate that those other assets do not as far as I know in extant technologies share that nice safe in your own wallet feature (?)

Or are there by now actually genuinely decentralised exchanges in the sense that both sides of trades remain safely in end-users' non-custodial wallets, traded for example by means of "atomic swaps" between their native blockchains?

If such do by now actually exist for practical use, how generic are they in terms of being able to tell them enough details about some blockchain their original developers didn't get around to including without having to deal with any centralised authorities (such as original developers) to do so?


-MarkM-