Report: Identifying The Most Fertile Crypto Forums For Moonshots

The Good, The Bad and The Damn Right Ugly Tokens Circulating Right Now

 

They say time is money, nowhere is that more true than in the world of cryptocurrency. There are so many different platforms and ‘experts’ vying for our attention, from Twitter influencers to YouTube tipsters, from Discord pump groups to Reddit forums. So how do we select the best channels that will reap the highest financial rewards?

One of the most common complaints we see is from investors moaning about the constant spamming prevalent in the majority of Reddit crypto forums and Telegram channels. You can check this out yourself by taking a quick look at the sub Reddit forum r/cryptomoonshots. If you are a lover of memecoins you are probably ok with this, but the majority of the 500,000 members we suspect are there to find hidden gems. That job is so much harder when forums are subject to the constant pumping of crappy memecoins with names like DinoNuggest Coin Token, WhenLambo, Blast0ff and Cosmyc.

This wasn’t always the case. Only a few months ago you could be certain to encounter a healthy discussion of cryptocurrencies with fundamentals. Not anymore. Now you require the patience of a practicing monk to sift through all the memecoin crap to discover maybe one or two gems.

Here are some of the findings we learnt when trawling the various forums like a stalker on MDMA.

Our findings

The influx of new cryptocurrencies continues unabated. It is these newly listed cryptocurrencies that take up the vast majority of screen space on the most popular forums. Many of these are Binance Smart Chain based tokens. And unfortunately the majority of these are total crap. Whilst there may be an opportunity to make a fast buck from getting in early and exiting with some fancy footwork, in general few of these can be described as cryptocurrencies with fundamentals. This stream of new tokens generally consists of various types of memecoins including a noticeable abundance of memecoins focused on charitable causes, different forms of lotteries, staking and no shortage of porn coins.

The tokens being relentlessly pumped on Reddit and Telegram range from coins with a market cap of a few hundred thousand to a few billion dollar projects. The vast majority however were newly listed memecoins with market caps under $5 million.

It was also not lost on us that there were many scam coins being promoted among the hundreds that hit the market daily. This is in fact quite surprising because we are talking about tokens that are literally a few days old with developers running off with the money. This blatant scamming makes it even more important that you carry out detailed due diligence and avoid projects with anonymous founders.

Rankings of forums on Reddit

We decided to focus our ranking on Reddit rather than include Telegram as many of the big Telegram channels are spin offs of Reddit forums such as the massive SatoshiStreetBets which is itself a spin off of the infamous WallStreetBets.

Obviously the world is much bigger outside of the five crypto forums we have highlighted above. There are literally hundreds of crypto forums on Reddit, although many of these are project specific. However the five we have listed are the ones of note. If you have limited time on your hands we would suggest you stick with SatoshiStreetBets and of course our very own MoonshotMonday, although our forum is new to the game.

A sample of projects from the various forums

The Good

• Secret Network
• Tellor
• Ergo
• Vanity Token
• Maliswap
• Crypto Candy
• Convex Finance
• Melalie
• Pathfinder

The Bad

• CreamPYE
• BankSocial
• Gem Protocol
• Safecity
• Gamesafe
• LOTToken v2
• Babyshiba
• ONE

The Damn Right Ugly

• CashCowBSC
• PANG Coin
• Gaming NFT
• Kush Token
• CumInn
• Baddies
• Porn Token

It goes without saying that ‘The Good’ list requires further due diligence. Our definition of ‘Good’ is a project with sensible tokenomics and a reasonable use case. We did not carry out any due diligence of the team behind it, adoption and chances of success etc.

Save the best for last…

Our very own Crypto Moonshot forum has been designed to overcome the problems of spam and shilling. Our forum has been specifically created so that users can see at a glance the list of tokens that have been selected by the community (including us) and how they voted on each. It is currently in beta testing so we would welcome your input and your own content including selections before we launch this to a wider audience.

Conclusion

The forum was once a place for discussion. The bad news is that it has been transformed into a place for snake oil salesmen to promote his or her new medicine using stooges which in this day and age is either a bot, the snake oil salesman himself or his friends, or all three. This makes the modern crypto forum an inefficient place to find credible moonshots.

Although we are not suggesting you remove them from your moonshot arsenal we are saying you must also generate your own ideas. Many of the cryptocurrencies promoted on forums have too many vested interests involved to make them sound investment opportunities. However the key to that last sentence is the fact that cryptocurrencies that appear on forums are being promoted rather than discussed. Somehow forums must return to their roots before users find alternatives.

Not Financial Advice

This article does not constitute financial advice or a recommendation to buy in any way. Always do your own research and never invest more than you can afford to lose. Investing in cryptocurrencies is high risk, and you could lose 100% of your investment. The article should be treated as supplementary information to add to your existing knowledge.