Thought I’d cook up a thread where we can all share our thoughts, opinions & general discourse around “finding” the next 1000x. Let’s keep it running and evolving as we continue through the next ultimate bull-run cycle.
Specifically, I think it would be constructive to discuss how these opportunities laid dormant in the past, seemingly untouched and completely ignored by the masses until their ultimate repricing events, and also how best to identify and capitalize on the next candidates.
I’ll kick it off with two popular examples of the 1000x from the last bull-run of 2017 : XVG & XRB
Similarities between these bad-boys (just OTOH):
- Both have ‘X’ in the ticker
- Both were perceived as ‘Shite’ prior to evolving into a perception of ‘Relative Value/Legitimate tech’
- Both were in the dumpster as far as valuations were concerned - both in Per-Unit Amounts (USD/Sat) as well as overall valuations (close-floor before runs at ~$0.000021 USD/$300k Cap & ~$0.009 USD/$500k Cap respectively)
- Both underwent prominent marketing campaigns, and/or had out-spoken proponents; Verge had McAffee and XRB turned into ‘Nano’, the “cool” next-gen bitcoin narrative for payments
Tale of the Tape:
Crowd Behavior & Social Influence:
- Crowd behavior (aka ‘Mob mentality’), or Group Think is also very strong in crypto as an investment vehicle; Social Influence is a preferred drug of many with a “following” (aka perceived respect), which many times is used in the crypto-sphere to subliminally coerce, or somehow “certify” that an investment is worthy.
- As an example, doing a “Coin of the Week” on a highly public platform with intent to elicit social proofing, or a popular social media persona explicitly shilling a project as having merit would have this effect. To a degree, 90% of projects with a public list of Advisor’s backing the project have this effect, as the investor feels (rightly justified or not) that the Advisoree would be reluctant in most cases to risk their reputation on a less-than-subpar project
*See : Social Influence leading to Conformity, and ultimately to Wide-Scale Internalization:
The Psychology of ‘Cool’ (All 1000x’s had/have it):
A somewhat cheesy article behind the science of what it means to be ‘Perceived as Cool’, in human-terms: If we liken the 1000x crypto as a person, that person would have some of the following traits:
- "Less" (doesn’t have to try to -be- cool) -> Confidence in knowing its market value
- Confidence (goes back to social certification, group/crowd behavior - or if everyone else thinks its cool / respected folks are on board, it must be good)
- Savvy / Rule Breaker (Likening to the cryptoverse : something with an ‘X’ in the ticker, something highly disruptive, NEW, fast, revolutionary, new paradigm, privacy coin)
On-Point Attitude & Demeanor (Is the P.R. face smooth? If the marketing team talented and spreads awareness professionally and effectively? Does the CEO/Head ‘Try too hard’ - net negative || Or do they exude confidence & charisma akin to a Gilbert Verdian / Da Hongfei)
- Interesting caveat to the ‘Low-Prices, Cheap, Good-Value => better ROI’ : Or, why sometimes pricing a good/service/item at a higher value will often lead to higher likelihood of a sale (as the item is perceived as more desirable) : https://fs.blog/2012/02/how-raising-prices-can-increase-sales/
- Wiki on psychological pricing, tactics et. all : https://en.wikipedia.org/wiki/Psychological_pricing
- To the average human, if something is “expensive”, it is “quality” : https://www.entrepreneur.com/article/279464
- Psychological pricing strategies: https://www.nickkolenda.com/psychological-pricing-strategies/