Bitcoin News
By Dan Saada
1 / 15
Twitter Handle, Jon Syu: I'm seeing a lot of people FOMO quit their jobs to join "crypto", probably out of some over-romanticized view of what goes on in these projects.
2 / 15
You have an earnest team that believes in decentralization as a theory, but realize that it's impossible to build any project of complexity without extreme centralization for…
3 / 15
You aim to build a community, but in reality 90% of your telegram/discord are scammers and people asking why price is going down/accusations that you and your entire team should…
4 / 15
You want to decentralize governance, but only a handful wants to participate in governance. Doesn't change people from getting royally pissed at governance decisions despite not…
5 / 15
You realize that most of the "influencer" network of crypto is actually a cartel of individuals who all know each other and collude in pumping the same bags.
6 / 15
Some VCs are good. Many don't do an ounce of due diligence on your project and fight tooth and nail for larger token allocations with minimal lockup periods.
7 / 15
Crypto never sleeps. And guess what? That also means that you never sleep. Half your audience is in the west, the other half is in the east.
8 / 15
Legally, you can't talk about "token price", but it's your ultimate marketing tool. If it's necessary for the security of your network, you're screwed.
9 / 15
Traders/VCs drive the vast majority of your user acquisition early on, since, again, the token is what most people care about - so you really need THEM to be excited, and they by…
10 / 15
The LAW. SO MUCH LAW. SO. MUCH. LAW. Expect to pay well into six figures of legal fees in your first year.
11 / 15
There's actually a good chance that there's not a single person in your entire state or country that knows how to do your taxes.
12 / 15
People will make up rumors of your project on a daily basis. Either hopium or FUD. It is Brandolini's law on steroids.
13 / 15
Information asymmetry is extreme in this industry. There are telegram rooms of just founders and influencers that discuss price-moving news.
14 / 15
Bear markets is when you find the real demand for your products, which is likely magnitudes less than your worse fears or on-chain metrics indicate.
15 / 15
You will be proud of your project at times, but then get nervous when you see people ape'ing into obvious scams and then you question whether anyone actually knows or cares about…
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