Thread 60852489

What makes a crypto successful? Dumb luck? Meme factor? Some well laid out strategy? Why do so many decide to be scams instead of playing the long game and becoming credible investments?

>>60852489 (OP)
Various things, like you mentioned can cause a pump, but ultimately a long lasting successful crypto is one that can legitimize itself. There's a reason BTC and ETH are the big names. They're oldest and best dressed. People value their money (even if they're shit at spending it), so to entice them to buy in, you'll need to guarantee that it's a good idea. Rug pulls do nothing but hurt most crypto, and it's the reason 99.9999% of coins fail, even if those coins actually had good intentions. If normies don't trust it, then it'll never take off.

>>60852489 (OP)
>Why do so many decide to be scams
kek

>>60852507
I see. Very insightful. Thanks, anon.

>>60852507
Good take
I'd add that uptime is now a significant factor in crypto; not just history of non-rugpull price action (which is also important), but a history of simply being a reliable token trade. If the network it has, or relies on (eth/sol) has even one big hiccup in being able to process txs or some other issue in being able to facilitate the mostly frictionless token transfer, it'll earn a big hit in reputation, even if its the parent chain at fault

>>60852489 (OP)
meme quality + dumb luck + intentions of large holders is most important. the pvp nature of the game is pretty demotivating too.

>Why do so many decide to be scams instead of playing the long game and becoming credible investments

first of all you have to understand that almost nobody is making serious money in crypto. for instance lets look at $jup one of the most used platforms on solana. they use their revenue for buybacks and have bought back like 20m usd last i checked. who in their right mind would ever hold jup when they make such little amount of money? nobody. so the team will do everything they can to psyop as many people as possible while dumping their tokens as fast as they can. this is pretty much the same story for every single coin with very few exceptions.

psyops and memetic war is far more profitable than trying to make a revenue generating protocol/business where the tokens actually have value accrual.

if you're referring to memecoins thats a whole other topic i could write for hours on. its a very complex game and the best r:r is mass deploying coins, bundling them and then just selling off immediately or hiring KOLs so you can farm people for days or weeks.