9 Nov 2023

Do Your Own Research or Digest Your Own Regrets

A bull market is possibly around the corner, and we are here to see it - not to take profits because we don’t learn cycle after cycle. And while there is the opinion, that the bad projects die during the bear - which is actually true - with the bull, new garbage will start floating in the space, and you probably will be swimming in the middle of the sharks, and get bitten. It is a cycle, it repeats, everybody knows by now, and we should act accordingly.

Anyway, today I would like you to get familiar with the crypto slang. You may have heard many expressions when it comes to crypto, such as HODL, diamond hands, FUD, etc. So, perhaps, you heard the expression DYOR before? Is not a perfume brand, (that’s DIOR) and is not a remotely cool acronym, but hey, that’s what we have to work with. So DYOR means DO YOUR OWN RESEARCH, and if you want to be remotely successful you will have to put in the work. Even if you are a lazy bastard, just like me.

In my opinion, DYOR, is one of the most acronyms out there, because it actually means something. Not that the other expressions don’t mean anything, but this one is especially important, considering the amount of projects going around there, that have 0 good intentions towards their community, followers, and users of their protocol.

Even though you may have heard the expression before, how do you become a part of it? I mean, how can you DYOR? Well the Y stands for YOUR, so each one has its own method, but in my case, I do it like this:

Since we are speaking about crypto and about you buying tokens, the word tokenomics has to be a part of your dictionary. There is no way around it. Understand the utility of the token within the project's ecosystem. Research how the token is used, its function within the platform, and if it has a reason to be. Analyze the token's total supply, including the circulating supply and any plans for future issuance. You won't get dumped on!

Well, as you are entering a decentralized territory, the community and its members, are one of the biggest parts, of this big charade that is crypto. Maybe you want to stick close and understand what the community of "XYZ" project is all about. After all the project also depends on the degens that are "backing" it. Check the engagement, initiatives within the community, and their endgame. It will give you a clear picture, of what the people are really interested in.

Who is the team behind the project? What they have done previously? Are they doxxed? Do they have LinkedIn, or any other social? Are they active? Their ethos seems “balanced”? Are they new to Web3, or do they have experience in the industry? All of this is important to understand who is the team behind the project, and if they are builder which you can rely upon.

If not partnerships, maybe backers of the projects. Nowadays if a project uses a MacBook, probably the same project will state that has a partnership with APPLE… So take this with a grain of salt. Of course, that is better to have partnerships than no partnerships, but make sure to fully understand the nature of the partnership between both parties (Integration, Strategic).

Join the official communication channels of the project, such as community forums, social media, and chat platforms. Check how the project communicates. Are there red flags? I mean they discuss prices and are letting you know the token price will go up?! Get out asap. Your funds may be in danger. Does the project also create FUD regarding other projects? Do you want to be associated with a project with this kind of dirty tactics? That's up to you to decide. Are they promising listings on Tier 1 CEX without even having users and a big community? Hmm... No bueno. That's why you DYOR.

Short-term and long-term vision are crucial to understand what the project is about. I mean, are you in for a short trade or a long-time HODL? What does the roadmap of the project look like? Are there real integrations, challenges to be accomplished, and specific details? Or it's all fugazi/filler? Of course, this may be subjective to each one of us, therefore the importance of DYOR. Just remember "All of that other BS is here today and gone tomorrow..."

Well, that was it! that's how you DYOR! I mean, it's "your research", so you will find the items that suit you better, but in my case, there is something that I personally believe that bring the best results. And don't forget to read the whitepaper... I know I know... no one does, but you don't want to be caught in the middle of some bullsh*t, that you will end up paying for ( literally).

So, go little Sherlock, and be the best detective out there you can be. Experience will be your best friend, and perhaps, (just perhaps) this cycle, you can actually take profits. Hope you do, and I hope I do too.

Thank you very much for reading. Hope you have enjoyed the article! Would really appreciate it if you could drop a follow on 👉🏽Twitter(X)👈🏽

See you soon fam!

Write & Read to Earn with BULB

Learn More

Enjoy this blog? Subscribe to JonyGoesWeb3


Another banger!! I always enjoy reading your articles the humour always on the roof, top notch💪 stay up bruv✊🏼
Well said: DYOR and do not FOMO into what crypto influencers advise you to buy. Seasoned crypto investors know that research pays off. New crypto investors, unfortunately, learn the hard way and follow the advice of those whose approach is to buy a coin, pump it by promoting it to their followers, and then dump it at a good profit for them but at the expense of those who follow their advice.
Great article, very interesting! Thank you
Gary Cartlidge
I just love the pic pics fren "Do Your Own Research or Digest Your Own Regrets" solid adv
Sure DYOR should be a basic knowledge in crypto investing. Thanks for post.
Credibility of core team behind the project matters a lot and then ,as you mentioned, partnerships and collaborations, listing in Dex's and raodmap are the things to evolute before any investment. Great analysis about DYOR!!
awesome article congrats and thanks
Thanks for the article! Beautiful and interesting
Your articles are something else... fascinating
Nice write up! DYOR is such a forgotten thing to some people. It's why scams in the crypto space flourish. Dropped you a tip, thanks for the read
I personally like the idea of following a project for a while before investing. Now that totally runs contrary to most crypto investing frameworks as the intention is to identify a project's potential as early as possible and then get in before the pump. There a popular tweet that does the rounds about the advantage of investing in new coins over old coins. But.... If you believe in this industry as building something long term it's better to look for projects that have weathered the storm and kept releasing stuff and have a community that has sustained. Yes, you're not going to get a 50-300X payoff but we are in a bear market. I don't see why a bunch of existing projects wouldn't see 10-20X returns in a bull market, even if they are "old coins". $MKR has seen very healthy returns these last few months. Doesn't get much older than that in defi. And with older projects you are way less likely to lose everything. If they were going to zero they would've already done that.
This was a great read and brought up one of the most important things you need to know and do when dealing with Crypto. Research, research, and more research. Do not listen to people online and invest in whatever people tell you to invest. If you hear about something that sounds good then do your own research to see if it aligns with your interests and make sure it actually has utility to back it up for future adoption. I have heard about some of the best projects watching videos and reading articles but I always do my own research before connecting wallets or investing. Stay safe out there everyone. Remember to DYOR! Great article!
I chuckled at "Digest your own regret". haha thank you for that! Thank you for the prayers, and I hope you'll get some profit too. Always enjoyed your article!
I completely agree with you. People have to take DYOR more seriously in the modern times of the crypto space.
Awesome and helpful content