About 12,000 crypto projects exist - finding the ones that are actually solid may be a needle in the haystack

So there's about 12k of "Cryptocurrencies" around at the time of writing. It's probably safe to say that at least 80% is a scam or just garbage (or both). That leaves about 2,400 that are actually legit projects trying to build an actual working product.

Of those 2,400 probably another 80% will never really make it and few will actually be successful long term, let's assume about 400 actually "make it". For those 400 it's questionable to what degree they will make it, there's making it big as opposed to making it in terms of continuing existence.

Moral of this, I think, is that finding that one project that will x1,000+ is extremely difficult. Remember that you'll hear those success stories of individuals becoming a millionaire, but for such a story thousands stories of loss are in the other side of the coin.

Some things to look for to detect a scam project:

1. Promises of guaranteed (high)
2. Poor or no white paper
3. Excessive marketing
4. Unclear or shady team members

So, if you're out there looking for that next gem, good luck and let me know when you have found it. Until then, be careful what you put your money in.