If you want to make a huge fortune quickly, cryptocurrency investment is still a good option. But the crypto industry is still a very chaotic world. The chaos mainly refers to the authenticity and validity of the information, which is hard to grasp. This seriously hinders people from entering the cryptocurrency world.
In particular, the vast majority of people entering the cryptocurrency world are directly related to making money by speculating coins, investment, etc. Predicting prices is even more difficult. Is there any way to find reliable information, preferably information that can predict prices relatively effectively?
My answer is: The official website!
In the current cryptocurrency industry, if you want to know a coin, any coin, the most effective, comprehensive, and true information is all on the official website.
The official website is more effective, more comprehensive and authentic than any other channel of information. But “most” cannot guarantee 100% effective, comprehensive, and true information.
Every coin has an official website, if not, don’t buy that coin. Although some coins are decentralized, strictly speaking, there is no “official website”, but at least one or a few of the most important websites, can also be called “official websites”.
The official websites of BTC are here:
The official websites of BCH are here:
The official website of ETH is here:
If you really plan to spend money to buy some coins, you should read and understand every word on the official website. There are several important types of information from official websites that we need to pay attention to.
The first category is technology.
This includes the purest code and mathematical analysis technologies, as well as economic and application scenario analysis. We can collectively call these technologies. Some unrealized
future technologies are also included here.
The second category is the ecosystem.
Including the major enterprises and social divisions supporting this coin.
The third category is the knowledge and resources for using this coin.
Including wallet download, where and how to buy this coin.
Sufficient information resources can be derived from the official website, and these resources are also very important.
The first important thing is are team willing to post their profile pictures on the official website.
If they have twitter, follow their twitter; if there is a blog, follow their blog; try to follow their Facebook. If they are Chinese, find a way to add to their WeChat and see their “moments”.
These people, who put their profiles on the website, represent the most important people in this cryptocurrency project. This is the same reason that we buy a company’s stock, therefore we need to pay attention to the CEO and management team.
We should judge their attitude towards the coin, their character, diligence, and resources by paying attention to the information of these people, to have confidence in this coin.
The second important thing is the community extended on the official website.
Generally, the official website will provide an online community for netizens to discuss, including Reddit sub-forum, GitHub open source code, telegram group, official twitter, official Facebook account, official Weibo, official WeChat group, etc.
These communities are often places where the management team notifies some real-time information.
From these communities, we can also experience the “attitude of netizens”. Although the reference value has been greatly reduced, it is still valuable for extreme attitudes such as high excitement, rights protection, and so on.
My recognition of the official website of the cryptocurrency projects, is not my simple guess. I learned from the stock market.
It’s the same for buying stocks and speculating in coins. The information about stocks is also a mess, leaving stockholders at a loss. After reading Buffett, Charlie Munger, Peter Lynch, and their stocks investment books, I found that the channels to obtain information on these stocks are the information provided by the company, including obtaining balance sheets, commercial business information from the company, and communicating with management, etc. Without exception, this information can be obtained directly or indirectly from the company’s official website.
The messy information channels in the cryptocurrency industry are too wide. On the level of obtaining information, the official website information is complete, and the official website is all the information; the official website is the highest form that guides us to speculate.
The so-called completeness is the official website and its extended information, which is 100% of the information needed for speculation. There is no need to hear from other channels.
Don’t believe the information in the media at all, especially if the company business model is based on the realization of traffic.
The US President Donald Trump says that CNN is fake news, which is true. All the media, including the cryptocurrency media, are really writing experts. They are not experts in technology, economics, financial management, etc. They are experts who know how to attract the audience`s attention. The profit model of the media is the realization of attention, which is opposite to the interest of readers in coin speculation.
In cryptocurrency, the opinion of the influencers should also be viewed with a presumption of suspicion.
Do I need to study the candlestick chart to technically analyse?
If you believe in science, don’t. Shannon, the creator of the information theory, proved decades ago that technical analysis cannot predict stock prices.
Too many people in the cryptocurrency community wish only to use the candlestick chart to predict the price instead of understanding a coin, but I have personally verified that for me, technical analysis will only make me lose money.
Lastly, I say again: if you want to know a coin, any coin, the most effective, comprehensive, and authentic information is all on the official website.
The article only represents Francesco Galea’s personal opinion, not Coinsaga’s official opinion.