I had been following this sleeping giant for a while and watched it even more closely as it fell below 500 sats during the BTC rally we saw in December. On the 13th of December, when DNT dipped to just 270 sats ($0,04 at that time), my decision to invest in DNT and share it with my Telegram followers was instant. By the 6th of January, DNT had reached 2300 sats (or the equivalent of $0,40). Here is what led me to confidently invest in District0x (DNT).
I didn’t discover District0x (DNT) through any traditional crypto trading space, but through a curated list of great website designs where District0x (DNT) had been featured ( https://klart.io/pixels ). What first captured my attention was the great amount of care and energy they had put to craft every piece of the District0x website. While some crypto projects have increased their efforts on design, District0x didn’t just look stunningly well designed compared to other crypto projects but also compared to any tech startup out there.
That’s essentially my first tip to you: Look for well-designed projects. Good design influences people in a good way and helps to transmit information better. A creator who takes good design seriously not only displays a strong sense of care for his creation but also a higher level of understanding of what humans need in order to be able to interact with his creation. A product nobody can interact with because it’s badly designed isn’t going to be used by anybody no matter how great the technology behind is.
Because the website was designed in such a way that conveying information about the project takes the most central part, essentially giving you a brief understanding of it as you scroll down the site, I was able to quickly learn what the District0x (DNT) is about.
As somebody interested in all things decentralized, “democratic marketplaces” I thought, sound great. Facilitating building and managing such marketplaces is something I consider a need, therefore finding value in the project was a natural outcome for me.
And that’s my second tip to you: Find projects you find valuable and useful. Like the old science saying that “if a theory is beautiful, it must be true” if a project resonates strongly enough with your convictions, it’s probably true (or rather, it’s a good project). Of course, this is not always the case, but in an unpredictable sphere, such filtering methods lower your risk of making the wrong predictions.
The team members resembled the team of a typical startup, all young and owning the right technical credentials to carry ahead a project such as this, and the team size reasonable enough. I wouldn’t go further into details because I realize only a handful of people have the knowledge to filter good programmers from bad ones.
Next, I joined their Telegram channel and browsed through every other case of social media presence they had, particularly Twitter and Reddit.
It didn’t hurt that the community manager, Brady, was answering questions at all times like an automated machine in a coordinated and respectful way. The level of professionalism was such I believe this might have been the sole largest contributor to my firm belief in District0x (DNT) as an investment.
Coincidently, my new presence in the District0x channels was quickly followed by a bullish run that took DNT from about 600 sats to 1300 sats in a couple of days, caused by ICO investor and social media influencer Ian Balina sharing the District0x project on his channels. This is also the moment a lot of traders discovered the project. The “fun” stopped soon enough, and DNT kept falling like a rock until it stabilized around 450-550 sats.
When the BTC rally of December kicked in, DNT like most other coins dipped even further eventually reaching 270 sats and I watched quietly how most users (with the exception of a few educated “believers”) desperately shamed the project for “not moving when all other coins are doing something”. At some point, conspiracies started circulating in the channel. It seemed like everybody in the Telegram District0x (DNT) trading channel had lost faith. I wonder how many of them sold in desperation only to see DNT reach all-time high soon after.
That said, this is my third and last tip to you (for the moment being): Find that sweet spot when everybody is negative and afraid, this is the moment the so-called “weak hands” are selling their coins for cheap until eventually there is not much left on the sell side.
As Warren Buffet famously said: “Be fearful when others are greedy and greedy when others are fearful”.Tweet