As mentioned several times on these pages, I’ve been preparing the soil for a sentiment tool/platform for the crypto markets. This is one reason I haven’t been able to post as much as I used to a few months ago.
I believe now we are ready to start, so here it is – http://santiment.net
A few words to give more insight into what we’re going to do (and why):
After working in the financial area for around 10 years, I’ve realized that being able to read emotions and mass psychology are key to making sound financial decisions. Combined with a strong understanding of fundamentals for specific products (or coins, as we say in crypto land), one can not only survive in this wild-west environment, but also be pretty successful.
I also believe this should be a community effort, in the spirit of decentralization. United by the same goals and intentions, we can achieve great results together.
To be clear though… this doesn’t mean “social trading”, or doing what others think will happen. I don’t believe this kind of trading works at all. To “follow the crowd” is the best way to lose your money long-term. The kind of community work I’m advocating with Santiment is different, and I think that if its organized in a proper way, it can bring amazing results.
I see several components on which we should work. Some are more formal, some are more like engaging mobile games. There’s a pretty huge amount of work ahead. But we will start small.
The final goal is to build a trusted financial service environment, developed by many and used by everyone, not just crypto enthusiasts. I believe quite a few “normal” traders/investors (I mean people knowing little about crypto) would like to gain access to this kind of trusted, reliable and insightful information. It will be up to us, the community, to decide the price we will ask for accessing it. After doing some research, I have a few numbers on my list and think the potential can be huge. It might even be that quite a few members of the community will earn much more just by being part of the community and providing needed input, than through their own trading.
Finally, if you want to know about me and my background, here is my personal webpage – http://maksimbala.com
Now you finally know who this “author” is. =)
I’m quite excited about what will grow the next years. Though I’m traveling tomorrow to DevCon2 in Shanghai, I will answer all emails or questions. Comments here, or direct emails (through santiment.net and my personal page) will get answered, if even with a slight delay.
The summer this year is outright crazy (at least in Germany), we still have above 30 degrees. But it will also change, so enjoy your day!