ANOTHER ANNOUNCEMENT OF NOTHING?
It's starting to happening too often that these creators want to hype their cryptocurrency with some kind of big announcement and then they come with pretty much nothing because the people's expectations were much higher and completely different so the price tanked.
It happened to PeerPlays. First, they have their first big milestone delayed by a month. Then their first game (RPS - rock, paper, scissors) was hyped with a countdown. After the countdown was on zero they didn't demonstrate a full game or something. They presented a TESTNET of their first game.
Sometimes the problem is different. The team has a great ideas and they want to announce a big news. People are waiting for something huge, but then the announcement is a presentation with a bad lighting, bad microphone and also a very bad camera. Even though the news were interesting, the presentation made it that the price also plummeted. Komodo developers already fixed this problem by hiring a PR person, Angela, and are going forward with their heads straight up.
And now EdgeLess too? Their last update before the launch was nothing else than saying they didn't get the licence yet and actually the whole "platform" launch is just a beta for 800 people at the start. As with every bad news the price plummets.
On the other hand, they will have pretty amazing account registration because they will not store your private keys. It's actually not that bad as it seems.
I am holding EDGs and I will look for another good opportunity to buy more. Do you want to know why? Because this is actually the beginning of something awesome. I guess the impatient investors were waiting for huge gains that would come from the news, but they didn't so they just dumped the coins and went to a different cryptocurrency, where they could make money.
It is also needed to say that the licence is not there yet, but does that really matter? The licence is needed to have gambling with fiat money, which is not something that EdgeLess team even have ready. Getting licence for something like this is a big deal and being the first cryptocurrency casino having one would be a big success for the EdgeLess.
Selling right now would be pretty stupid because the price already tanked. Right now there is a bigger chance that pump will happen than dump. In my honest opinion, it is sad that it's actually just Q3 beta, not the big launch, but maybe it is a good idea because there will be more time to fix the bugs and the glitches.
As always this is just a short-term thing and it should not be really considered if you are an long-term investor. Even big companies had a few problems through their whole journey and are now stronger than ever. Good luck and see you soon!
Thank you!
My previous posts:
https://steemit.com/edgeless/@eirik/we-are-very-close-to-the-edgeless-launch
https://steemit.com/cryptocurrency/@eirik/cheap-coins-everywhere
I made my decision a few days ago that I want to earn more about the whole cryptocurrency thing. Because it's really exciting. I am still a newbie in this field but I recognise soon that companies a producing a big storm about a new ICO but at the end, nothing comes. This makes
Yesterday I saw a video about the pump and dump strategy but right now it's still too new for me :)
Please only believe in your own view and research. It will take time to get the skill to identify good projects to invest with. Take your time, and welcome :)
Thank you very much for this clear advice
I wish you a good luck! :)
Thank you :)
In my view those projects are really trying to pump their own coin. Stay away of those. There are a lot of good projects out there who really want to change the future and who are working hard/quite to accomplish it.
I guess it's hard, because Komodo's team are full of great developers and programmers and if they really bring decentralized ICOS or upgrade their own DEX, Komodo could really be one of the good projects. The problem is that these teams always overestimate the news and hide it under some big announcement, which is just a bad idea.
Thanks for your comment geronimo!
The most famous underwhelming announcement was from Ripple with their "Swell." conference. Price went from 0.15 to 0.30.
I thought NEO announcements were ho-hum as well.
Good post. I was about to post a similair post. There's a lot of exchanges out there. I found that coinmarketcap.com gives quite a decent overview. An interesting website I found: https://www.coincheckup.com The site lets you check all there is to know about the team, product, communication transparency, advisors and investment statistics on every crypto. Check for example: https://www.coincheckup.com/coins/Edgeless#analysis For the Edgeless Detailed analysis