Stop looking at graphs and marketcap, do real research at Crypto Owls!

cryptoowls (26)in #cryptocurrency • 6 years ago

Good morning Crypto Owlers!

There is no better way to study crypto assets, than to do your own research and figure out what it is that defines a crypto asset.
At crypto owls, you are now able to share your research and write a benchmark on Steemit about it.
We work by a strict format to start your research, which involves answering 20+ properties.
I can assure you, during your research you will learn new points of view on what it is that defines a crypto asset and how they distinguish from each other.

Good intent
In life, showing and living by ‘good intent’ is what people should strive for. Having bad intent has never helped someone it is easy as that.
Sharing your investigations is showing good intent.

looking to invest? Here is what you might want to keep in mind
Through experience and failures, we learned that there are many pitfalls that will most likely cost you money when it comes down to investing in crypto assets.

Making a quick buck comes down to luck
The best way of making a well informed decision is by knowing what you are trying to achieve and how you want to achieve it. Avoid gambling or following someones advise blindly, you need to put some work in.
This will achieve that you feel more confident about your decision to invest and will stop you from panicking when things go south.

future proof
Although more than one crypto asset will be able to survive the test of time, many will not. Already there are 1500+ crypto assets around yet very few are worth a longterm investment and very few are likely coexist.

relevant information
There are several ways to look at crypto assets, some believe in technical analysis as they believe like any economical market the technical analysis will apply to it. All I would say is, if you don’t know how to read a graph and do technical analysis, you are better off not looking at it. This will save you time and will give peace of mind about your investment.
Day trading is a specific skill that generally involves staring at graphs and data 24/7 and it is not for the fainthearted.
If not careful, you will either get addicted to it or can’t take your mind away from it. This last one is a massive issue that if you are not experienced with the feeling of losing a lot of money and or gaining a lot of money, you are bound to lose the big picture. It will eventually end up in making costly mistakes. Again my advise is:”Don’t daytrade”. And whilst I am on it:”Don’t invest with money that you borrowed and or are not willing to lose”.

Do your own research
If we want to understand what the best investment opportunity is longterm, we need to know what is out there. Sifting through 1500 crypto assets is not an easy feat. A task that can only be done by a community.
Steemit could be the right platform to this on. This is why Crypto Owls is created.

Sharing your research
Thousands of investors have been ‘abusing’ the google search box to find answers on the same questions over and over. How fast is a coin, what governance model has it, what is the team like, are there better alternatives.
All this research is not shared, people make their own mental model of their research to make a decision, yet sharing this information and discussing it would most likely have given you way more information than keeping it to yourself.
True, data is shared and spread out on different websites, what is needed is a central place that updates itself to the latest upgrades of any crypto asset worth a look at.

Investors should join forces to create a more transparent crypto space
Imagine all the data is kept in a central place, all the research to a particular question is done a few times instead of a thousand times and imagine one place where all this data can be reviewed and graded by the click of two buttons.
Imagine what this will do to transparancy and to sifting out the good from the bad.

Help find the gems, those very few crypto assets that truly have longterm potential
We have to look at aspects that truly matter, if a crypto hardly has any development it should be graded less than other assets that are being developed daily, unless their product is finished and is miles ahead of any other product.
Is the crypto asset future proof, how feasible is it that a certain solution will truly fix the scalibility issues.
Ie. is Lightning network(LN)going to solve the issues, if it is what other issues need to be solved to become future proof and how likely is it this will be fixed. What are the current issues of LN.

Will a stable coin become the true new world currency. If Bitcoin solves scalibility, is it decentralized enough. What does it mean decentralization? Right now people have no common answer to this question.
Have you heard of for instance the Nakomoto coefficient. I have read about it, made up my own mind about it and shared it on Crypto Owls. If you are reading my post, this would be a perfect example as to why we need to share this knowledge.
and put it in a central place to discuss, it would have saved you time and the next person that comes around as well.

bright people
The crypto community consists of some very bright people and I strongly belief we are able to combine forces to take a peak into the future by combining the research and share/ discuss the knowledge based on facts.
If that fails it would allow us to make the best educated guess.

sharing new finds is fun
Yes Crypto Owls is based on Steemit and the hope is that you will get rewarded for your research, however sharing and discussing new finds is fun by itself. To join forces and have a common goal is really a lot of fun.
In the end we are all still at the very early stage, less than 1% of the worlds population is invested in crypto’s.
So from that point of view as early adaptors we should combine forces and keep an open mind towards discussing the future of crypto’s and solve the equation:”What will be the best longterm investment.”