There is no doubt that we see a lot of trash in the more than 10K cryptocurrencies that are out there. Nevertheless, there are some gems too. The question is how do we tell the gems from the crap?
In this video I discuss how we have one simple question: what is going on with the project? If we cannot answer this with any certainty, odds are we are dealing with a total loser. Sure there is a chance after 6 months of radio silence we get a boom, here is a Fortune 500 app. However, most likely silence means there is nothing to say.
▶️ 3Speak
Even if we are blind, we know that gems does not have that disgusting smell. :-D
Haha.
looks like I'm getting some competition in the "clowning around in the comments" department :)
More people should do this. Like on YouTube. Sometimes the comments are funnier than the videos.
totally agree :)
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Similarities to penny stocks. That's a great way of putting it. I !love penny stocks. However, hunting gems among them isn't easy.
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it's not that black in white unfortunately: there are profitable turds ( doge ?) and not super profitable gems like Hive, which did like a 15x in the bull market which is fine but nothing to attract outside attention. Still sticking with Hive for the long run though making some money with turds in the short term is not a bad idea
you have to carry out a good study to be able to distinguish a diamond from among so many not so valuable stones
Summary:
In this video, Task discusses the concept of hidden gems in the cryptocurrency market, drawing parallels with the penny stock world. He emphasizes the importance of active development, project activity, and team involvement as indicators of a worthwhile investment. Task highlights Hive as an example of a project with strong development and community engagement, listing specific projects built on Hive as examples. He stresses the rarity of successful projects in the crypto space and the need for diligent research before investing.
Detailed Article:
Task opens the video by introducing the topic of hidden gems in the cryptocurrency market and specifically mentions Hive as one of these potential gems. He draws comparisons between the cryptocurrency market and the penny stock world, noting similarities in the volatility and potential for massive returns. Task references Toys R Us as a success story in the penny stock world to illustrate the potential of investing in undervalued assets that later skyrocket in value.
He delves into the commonality of worthless projects in both the penny stock and crypto markets, cautioning viewers against investing in tokens without active development or a clear business plan. Task emphasizes the importance of looking beyond token prices and focusing on project activities, consistent updates, and the credibility of the project team. He criticizes past ICOs with copy-pasted whitepapers and highlights the importance of transparency and genuine efforts in building a project.
Task goes on to highlight specific projects on Hive that demonstrate active development and community engagement, such as CTP, PsyberX, LeoFinance, SpeakNetwork, 3Speak, StemGeeks, and PeakD. By mentioning key individuals involved in these projects, Task showcases the transparency and accessibility of information within the Hive community, contrasting it with the anonymity surrounding many other projects.
He further emphasizes the importance of researching projects thoroughly before investing, noting that successful projects are the exception rather than the norm. Task stresses the need for due diligence in the crypto market, as finding genuine gems among numerous mediocre or fraudulent projects requires meticulous attention to detail.
In conclusion, Task reiterates the importance of discernment in navigating the cryptocurrency market, highlighting the rarity of successful projects and the necessity of extensive research before making investment decisions. He encourages viewers to engage with active communities and projects like those on the Hive blockchain that demonstrate transparency, development progress, and a committed team.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.