Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Incentivised Posting / Shill => Topic started by: GeneralEth on April 23, 2024, 08:08:26 PM
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Hey Altcointalkers, how are you?
I've been brainstorming about Token with Utility or meme which do you prefer ?
I came across a token called ONG and i had no choice than to make some quick research on it and found some interesting information about it.
Ontology is a high-performance public blockchain enabling distributed trust collaboration. Since it's 2018 Mainnet launch, it has released ONG as a utility token alongside ONT for staking. It offers customizable blockchains with smart contracts and distributed ledgers supporting diverse applications. With its recent $10M fund for decentralized identity innovation, what new opportunities do you think will emerge from this project ?
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This deserves a poll, for me, I always go for the utility trend concepts, and hype on a project will come to pass and this kind of coin will become a thing of the past, but if you have a utility that benefits the community it will generate support and investment that will equate to market presence and will have a good long term value in the market.
And about the token you mentioned I haven't encountered but if it has value then go for it since you mentioned that they launched 2018 and they have a good standing in the market.
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I honestly do not see how people would prefer memecoin over a token that has utility. This doesn't mean to say that tokens with utility end up being better, of course there are a lot of tokens with utility that suck and terrible, so that just doesn't mean that automatically any token with utility is great, of course there are plenty of terrible ones there too. But the odds of a memecoin being much worse than a token with utility is far far bigger, because memecoins are not really there to actually make you money, they are there to make the creator money, that's why I believe that we should not really consider them any good.
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Generally, meme coins will last for short terms, not for any longer investment time. meme coins will seem bigger and more acceptable for they are often getting hype. and hype coins are the most common meme coins nowadays. thus causing meme coins to explode and skyrocket in price.
but on the other hand, when we talk about utility tokens, if the team is truly professional, then this will be more worth it. because utility tokens will usually create something that is reliable and can also attract the attention of potential investors.
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With its recent $10M fund for decentralized identity innovation, what new opportunities do you think will emerge from this project?
I am not so familiar with this coin though I think I read about this somewhere sometime ago. And I think ONG is doing good so far considering its good price and according to CMC it has a marketcap of around $250 million (https://coinmarketcap.com/currencies/ontology-gas/) with circulating supply of 376 million. I have not invested with ONG but judging with the details I encountered so far, I can say that it got a good potential for more growth and influence in the crypto market. Now, comparing this to a memecoin, I think the winner is quite clear: it must be ONG and ONT for me. I think the only advantage a memecoin got is if it can attract an avalanche of support hence its growth is usually fueled by hype and that anticipation that it would be jumping into the stratosphere in no time at all. However, we should not that actually majority of new memecoins will die weeks after they are introduced as it would be easy these days to create them.
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In fact, new innovations such as ONT are good to pay attention to, because they make the blockchain world even more competitive. Each project comes with its own innovations and advantages and strives to become the choice of the wider public. With this competition, I am sure a more advanced ecosystem will be created in the cryptocurrency sector in the future.
It's true that we could suffer losses if the investments we make don't go according to plan... but at least we are still part of this innovation movement...
Rather than investing in memecoins that focus only on price and price alone, it is better to pay attention to the interesting points of stand-alone blockchain technology.
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This deserves a poll, for me, I always go for the utility trend concepts, and hype on a project will come to pass and this kind of coin will become a thing of the past, but if you have a utility that benefits the community it will generate support and investment that will equate to market presence and will have a good long term value in the market.
And about the token you mentioned I haven't encountered but if it has value then go for it since you mentioned that they launched 2018 and they have a good standing in the market.
Same here. Seems it's about decentralized privacy data solutions..I'm reading more about it here. https://www.bitget.com/academy/what-is-ontology-ong-and-how-does-it-work from what I can read so far, utility project like this is definitely better than memecoins
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This deserves a poll, for me, I always go for the utility trend concepts, and hype on a project will come to pass and this kind of coin will become a thing of the past, but if you have a utility that benefits the community it will generate support and investment that will equate to market presence and will have a good long term value in the market.
And about the token you mentioned I haven't encountered but if it has value then go for it since you mentioned that they launched 2018 and they have a good standing in the market.
Same here. Seems it's about decentralized privacy data solutions..I'm reading more about it here. https://www.bitget.com/academy/what-is-ontology-ong-and-how-does-it-work from what I can read so far, utility project like this is definitely better than memecoins
Haha memecoins rarely ever have any sort of utility at all. I checked out Ontology too via your link, and this looks even better than I anticipated. I believe it's worth a shot
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Since the Mainnet launch was from 2018, you have many years to know the extent of development in the token. If there is no development or update to the code during these years, it is better not to invest, and tokens that last for more than two years are often of a low price and are pumped randomly. Every few months, but the long-term trend for these tokens is the continuous loss of their value.
Therefore, as general advice, if the token has been around for years and has not been updated, then long-term investment in it is a certain loss.