I no longer take "serious research" into most Web3 projects

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For a long time, I believed:
Losing money in Web3
was because I hadn’t researched enough.
Not finishing the whitepaper, not listening to enough AMAs, not fully understanding the project team’s explanations, not tracking on-chain data down to the finest details...
Whenever the results were poor, I would easily attribute it to one reason:
I just wasn’t serious enough.
Later, I gradually realized a harsher, more realistic fact:
Many projects are simply not worth your serious attention.
Part 1
I used to be a very “standard” Web3 user.
When I saw a new project, I would first bookmark it;
When discussions started in the group, I would go look up information;
When KOLs shared it, I would review the logic;
If I had already spent several days on it, I would tell myself:
“Let’s see a bit more, I’ve already researched this far.”
Back then, I thought this was “rational,”
But looking back now,
it’s more like constantly finding reasons to justify a choice.
You might have experienced a similar state—
not because you truly believed in a project,
but because you had already spent too much time on it.
Part 2
The first time I truly realized the problem was in a very ordinary scenario.
A project was very popular,
its narrative was complete,
the group atmosphere was great,
everyone was discussing the future, roadmaps, ecosystem expansion.
I had already looked at quite a bit of information,
attended several discussions,
but a subtle sense of unease started to emerge inside me.
It wasn’t “this project isn’t good,”
but a more hidden feeling:
I no longer cared whether it was worth participating in,
what I cared about was—
if I quit now,
would it make all my previous time spent seem wasted?
At that moment, I realized:
I had become bound by “research itself.”
Part 3
In Web3,
there’s a rarely discussed issue:
time often slips away more easily than capital.
When money is lost,
it hurts;
when time is gone,
all that’s left is often a vague “whatever.”
And many projects,
by convincing you that “it’s worth continuing to research,”
gradually occupy your attention, energy, and judgment space.
You’re not tricked into it,
you’re slowly dragged in.
Part 4
Later, I started reflecting on one thing:
Why did I think “deep research” was necessary?
Why did I assume:
as long as I hadn’t fully understood, I couldn’t give up?
The answer is actually simple—
because giving up means admitting:
your previous investment might not have been worth it.
And for many people,
this is harder to accept than losing money.
Part 5
Eventually,
I consciously changed my approach.
I no longer demanded myself to “understand every project”;
no longer pursued “logic that’s irrefutable”;
and I stopped forcing myself to follow along just because “everyone else is watching.”
Instead,
I started focusing on a simpler, more important question:
Is this project worth me continuing to spend time on?
Note, this isn’t about “making money,” but about:
does it have the qualification to occupy my upcoming energy?
This shift,
may seem small,
but for me,
it was a very crucial watershed.
Part 6
You’ll gradually notice a phenomenon:
Many Web3 users,
aren’t really losing because of lack of information or ability,
but because of a very hidden place—
they’re afraid to give up too early.
Especially when a project:
looks very professional,
the group is lively,
people around you are discussing it,
once you choose to exit,
it’s like fighting against some kind of “consensus.”
But the reality is:
Consensus is often the last thing to tell you the truth.
Part 7
Now, I rarely do “serious research” on most projects.
Not because I’ve become lazy,
but because I’m increasingly clear:
the order of judgment is more important than the conclusion.
If a project can’t convince me early on to keep investing time,
then no matter how complete or grand it sounds later,
it’s already of little significance to me.
I’d rather miss out,
than be held back.
Part 8
In the past six months,
I’ve reorganized my current approach to quickly judging and early dismissing projects.
It’s not a “method for selecting projects,”
nor a way to teach you how to seize opportunities.
Instead, it focuses on another thing:
In an environment overloaded with information,
how can you quickly detach from projects that aren’t worth it?
I’ve written this judgment process into a full article,
documenting my real decision sequence, signals for giving up,
and some pitfalls I’ve encountered.
Part 9
If you’ve been in Web3 for a while,
you might also gradually realize:
what’s truly scarce isn’t opportunity,
but your ability to focus where it matters.
Many people don’t lose at the starting line,
but waste time on the wrong things.
If you’ve had similar confusion,
perhaps we’re concerned with the same issue.
What truly helps people go further,
is not “doing more,”
but knowing early what can be skipped.
This article is included in the collection “Things Not Worth Researching.”
Full collection overview
#投资心得分享 #项目筛选 #思考判断