RE: The ICO Phenomenon And The Marshmallow Test
First off, he's one of my favorites, too so I watched the whole thing to the meaning of life before I even read on. I'm a natural born hodler. :)
Second, I've never much liked marshmallows except in hot chocolate, so that skewers my look at how I will react with a marshmallow, and it always has. Make it jelly beans and it's an entirely different game.
The point being that I don't see things the same way you do, no matter how hard I try. In our case it seems remarkably similar but still...
I'm no wizard and certainly my investment strategy in crypto and fiat has been pretty dismal. In fact very dismal would be correct. So I have to come up with a different strategy on ICO than you do to achieve results that I am satisfied with.
My tendency on any ICO (there have been a couple of exceptions) is to lay back. I am not bright enough to sort through the bullshit of initial claims and take every whitepaper with a grain of salt. I'll wait a little and see how the community around the coin reacts during the inevitable dump. Then I'll decide if it's worthy of my 2 mites,
It never, ever puts me right at the top of the earnings charts. It rarely lets me buy on the initial rise,
The end tends to be the same or nearly so, but the reasoning for it isn't.
Thanks for a simply great article. I really do appreciate it.
I went on a few ICOs so far, and on all of them I had at least 1 year in mind for whatever return would have been possible. With that being said, the initial "bonus / discount / whatever" that you get in an ICO is wiped out on the first dump and for a few good months the price stays below the ICO. But after the first results, the price is slowly starting to rise.
Would it be better to wait for the dump and buy there? Well, I don't know.
I'd rather stay with the project from the beginning because that gives me a better understanding of the team, the dynamics of the product and so on.
Going in when there's blood on the streets would be too "speculative" for me. I use this when I'm trading (or I try to, to be honest) but when participating in a tokenized business form day zero I try to have a slightly more "agglutinating" approach.
I don't know if that makes sense at all, lol :)
I get it, I really do. And frankly, the communities I am most involved with I have been with from the start.
My problem is being able to separate the enthusiasm (or outright fraud) from the facts of the coin. That is the reason for my waiting in some instances.
I think maybe we are saying the same thing with jellybeans and marshmallows. I'd gladly trade a marshmallow today for eleven jellybeans tomorrow. :)