Recently I had some very important lessons to learn in crypto space.
Even though I know to do TA, my main factor in decision making is my own research on coins and projects. I don´t rely on research from other sources and most importantly, I don´t buy into hype.
I´m simply not a hype guy - never was.
A solid foundation is built on trust and if you lose trust in a project or coin, it´s best to sell it.
The Trust Factor
Trust is something that is difficult to get and easily lost - it´s fragile - at least in my world.
Doing my research is the basis of the trust building process. I know, that most people are not able to do research based on facts, are not interested, easily influenceable and flying around like a leaf in the (crypto) storm.
Well, if this works out for you, then congratulations - maybe you are one of these people who are born with an extra portion luck. Maybe you are also just stupid. I guess not, since then you wouldn´t read this blog. ;)
So over the past weeks, I was doing intense research on a coin/project, that really built a lot of trust inside me.
I really believed in their product and outstanding vision, that is beyond anything I have seen in the crypto world. I also wrote some articles about them. All very positive and excited. With trust come emotions of loyalty and strength.
Until this happened some days ago.
Tldr: The CEO of this company was doing an Q&A. At least it looked like it. In fact, it was only a Q without any A. I watched, how he played with thousands of people and hyping them to the moon.
Any questions about their product release were simply ignored and people who dared to ask a second time, where kicked out and banned.
I was shocked about this business conduct. Also I felt like being the only intelligent person (besides 2-3 people who also were kicked) that didn´t buy into the bullshit hype talk.
This was the moment, I lost my trust into the company.
If the CEO is doing business this way, the whole company behind can´t be better.
In this technology driven space, you need to have a road map and stick to it. Period.
It doesn´t matter if you plan a product release 6 months from now and tell people exactly that.
It also doesn´t matter, if you miss the goal by some days, when you communicate it clearly. It happens.
What does not work out though is, to tell people, that there will be a "beta version" soon and giving them the impression, that it´s already rolling out, when in reality, there are only a handful people worldwide testing it. You can´t call this a "beta" or "private beta" - just call it what it is!
It´s a private test that is wayyyyyyy before any working product release. Months - maybe even a year.
Have the balls to define "soon"! Let´s get real...
I knew before, that this CEO was an arrogant a***** without any style or business conduct, but after my research, I thought, that if they let deeds follow, everything works out for me. It´s just that there are no deeds.
So I have my huge bag of SUB now on Binance (ups I accidentally told you the name of the company) waiting for a good moment to sell.
Unfortunately the coin is dumping af, but I have time, since I already bought in early and will leave the Titanic with a good profit anyways....
What if they get their shit together and the coin will moon? Will I regret my decision?
Definitely not, because I will have moved on to coins like EOS and STEEM, that will also make me a huge profit, but all the time I can sleep well and have trust into a legit road map and professional business conduct