The most frustrating thing in crypto allin
The most vexing question for me in the crypto market is this team be able to deliver according to the white paper? Can it survive the intense market changes? And will they be able to create a unique product? These questions come from the painful, failed experiences I've gained over the years in the crypto world.
Recently I have been researching multicoin capital's investments, reading all their public articles, and what I always want to know is why they believe so much in which teams, and how to evaluate if the efforts of these teams meet the market's expectations?
Due to my painful experience, I would like to know more about how to identify teams that are not reliable. Some of the products I have invested in did not work out in the end because the teams themselves did not want to stick with community or ran away themselves.
A few years ago I joined a team developed public chain, and I also had the experience of investing in incubation projects. And the recent experience of being cheated has prompted me to dig for answers to the above questions.
So recently I've started picking up the classic writings of the traditional vc's again. The legendary vc's are emphasizing the importance of the team and founder for the success of a project, and there are some truths in this world that we seem to understand all the time, but we always have a poor understanding of the importance of these things, unless you are deeply hurt in this area like me.
The crypto community is now emphasizing the significance of decentralization, which makes sense for a product or a protocol, but for DAOs, I'm skeptical of the importance of decentralization in that, and I think there be a scope to the role of Dcentralize, and we can't emphasize Dcentralize First everywhere, and in the days when ICOs were prevalent, I don't know if you have similar findings, but once my partners and I were looking at a project whose criteria were BTC, such as the geek,who a silent but technically superb person, the team had no leader, everything was a spontaneous community contribution to maintain the project, and even at some point we thought the leader of the team should be like Satoshi -- disappear and leave all the maintenance of the project to the community. Looking back, it's really too harsh to look at a project by that standard. Perhaps only BTC can meet this standard and still thrive.
Just as Moses led the people out of Egypt to find their home, any group or project needs a unique leader team, but often times the leader is gone and the spiritual totem disappeared. we can imagine if the leaders of the current projects all followed the example of Satoshi Nakamoto and suddenly disappeared. What would become of these projects? So from this point of view, I have a deep skepticism about DAO organizations that do not have a clear leader, the meaning of the leader is to adhere to the belief, DAO - I think it is more appropriate to it as a user deep involvement in the product organization method, or this is a product growth method.
Let's pull back to the question above, how do we believe that the team is capable of completing the project. This question has to be answered in two parts, one is that detailed research and understanding of the project founders and team can help us get a better handle on investing or building the project you like. I don't have a better idea of this topic yet, so I'll leave it for continued learning later. Another point is to assess the team's forward state, in which I summarized three points, and can use the existing tools to assess. The following three points if you can continue to optimize the assessment model, which be a good way to know whether the team can still fight in the crypto war?
1 .What the team says?
Check their weekly reports, daily reports, and especially twitter.
2 .What the team has done?
Check their github, marketing activities, proposals, and collaboration progress, especially review the status of Github and DAO tool
3 .What are the results?
The number of users of the product, the daily and monthly activity of the product, the revenue, the amount of assets deposited, etc.
Finally, don't be too lazy and check if you are paying more than others (this seems to be a bullshit phrase, it is said to myself 😊)