Why do many people in the cryptocurrency circle say that Chinese projects are not worth playing with? Is there any precedent?
Chinese projects are not packaged, and they focus on a simple and rough way to raise the price and run away. They finish one project in half a month and then go to the next one. In contrast, foreign projects are delicate, with a very technological page, VC platform, Dr. XX platform, various media promotions, and no rush to pull the market. They will only hang the leeks on the flagpole after half a year. Playing Chinese projects, you will see the door and start cursing after two months. Playing foreign projects, you still think you lost money because you didn’t study the technology well after two years.
Domestic projects are generally called local dog projects, which are in sharp contrast with overseas projects.
In terms of nature, they are all the same. Whether you are a public chain, defi, social, game or meme, everyone is raising funds for projects, regardless of whether you are noble or humble.
From actual past experience, overseas projects that can be spread to the Chinese cryptocurrency circle are often different from domestic local dog projects.
One is that the concept is more advanced. Many new concepts, whether reliable or not, are often first introduced overseas. After the track becomes popular, a large number of imitations and plagiarisms appear in China. Therefore, overseas projects in the same track often occupy the largest flow. Large enough flow means more liquidity. To put it bluntly, there are more buyers, and you at least have a chance to escape when the price falls.
The second is that overseas projects are open to the world and have their own investor communities in many countries. They harvest leeks from all over the world. Local dog projects often target the domestic currency circle, and the audience types are highly consistent, highlighting a narrowness.
The third is the target problem. Most of the project parties of domestic local dog projects come from wild ways, are full of the desire to redistribute wealth, and harvest very quickly. There is basically no code audit, and they rely entirely on shouting orders and CX. It is difficult for project parties to do some human work. Just look at the market and you will feel it. It is full of the beauty of a straight line up and down, and there is basically no aftermath after the goods are shipped. They treat the project as a one-time transaction and like to start a new project quickly. Overseas projects are a little more profitable. After the project party has shipped the goods, when the price drops to the bottom, they will also recover the sold chips at a low cost, and there will be another wave of opportunities in the future.In other words, even if they are both stuck, overseas projects can still have some hope, while local dog projects can basically give up and admit their losses.
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