Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Starting a crypto project

twitter.com

Post reply on HN
Print view View original

61–70 of 373 posts

Re: Starting a crypto project

#61

Post by noxer »

Here is a free tip if you want to do it anyway. DON'T CREATE ANOTHER F**ING TOKEN!

Build you product on an existing reliable fast and cheap blockchain that fits your needs. Focus on the product not the price of tokens on said DLT.

You dont need a token. No, really you dont. Your tokens only use case is likely to transfer value and guess which token can do this better than yours? All of them! Simply because they already have adoption/liquidity/fiat on-ramps etc. etc. You also instantly gain a community simply by using a token that has a community already.

And you avoid lots of legal problems.

Here are some companies that did/do this:

coil.com

sologenic.org

gatehub.net

forte.io

raisedinspace.com

(Very biased (they all use XRPL.org) because I simply dont know other projects. But you get the point, every DLT that actually works in a useful way should have people building on top - if not its probably garbage tech)

Re: Starting a crypto project

#62

Post by samvher »

hanniabu wrote: post #60
ZephyrBlu wrote: post #41

Earlier quoted context omitted.

Crypto has no social value? I'm not in the space, but I think crypto has immense social value.

Don't waste your breath dude, HN has become a safe haven for people that like to bury their head in the sand and shit talk crypto. Yeah, anybody that's actually knowledgeable in it know that what they're saying are the same old sad tropes that the news has been training people to repeat verbatim, but they've boxed themselves in and they'll die on this hill.

Where is a place to get a broader perspective on this? I've tried subreddits for some of the projects, the cryptocurrency subreddit, and google and youtube. I have a lot of difficulty cutting through the noise. (My sense is that projects like Ethereum could be extremely valuable but that its value is currently hurt by the speculation on Ether making transactions far too costly. I'd be very interested in getting exposed to the "quality" projects that are out there but it's hard to filter.)

Re: Starting a crypto project

#64

Post by rodiger »

lottin wrote: post #56
55555 wrote: post #9

I started a crypto startup once (don't do it unless you're Vitalik-tier intelligent) and this is pretty damn accurate. lol

Vitalik Buterin, the guy who thinks you can do quantum computing by running a quantum computer emulator on an ordinary computer [1]. Doesn't strike me as the sharpest tool to be honest... [1] https://twitter.com/VitalikButerin/status/127395790524347596...

A random tweet about a concept not being "fundamentally ridiculous" is an awfully low bar to discredit intelligence. Have a look at his blog[0] and let me know if that reinforces your belief.

Besides, if you read the whole thread you'd know he's acknowledging that if we could simulate QC classically, then we'd be able to have more efficient classical search algorithms. It's an if that's likely impossible at scale but not, by definition, impossible.

[0] https://vitalik.ca/

Re: Starting a crypto project

#66

Post by Legogris »

fumblebee wrote: post #18

> 2. You aim to build a community, but in reality 90% of your telegram/discord are scammers and people asking why price is going down/accusations that you and your entire team should go to jail. I'm consistently repulsed by the lack of thoughtful discussion in crypto communities. For a space littered with intriguing technology it's endlessly frustrating that there's no HN-like forum. Instead, any community that start…

> Take your pick for where to source your news [actual answers]:

1. Newsletters. One basic example is Bitcoin Optech. I've always been the kind of person who looks at any newsletter just about long enough to put it in Trash. But I've come to understand there are plenty of greatly curated and/or written ones out there.

2. Podcasts. I can recommend Unconfirmed and Zero Knowledge, for example.

3. Discord (I know I miss out by not going here but the noise-to-signal ration and complete lack of privacy/anonymity/anything like that are both too much. It makes me a bit sad that this is where the action is even for infrastructure and supposedly open/freedom-asserting projects.)

Can be non-trivial to find the good ones for whatever angle/topic you are interested in, of course.

> The greed and FOMO on display in the crypto gold-rush is deeply depressing

Absolutely agree and I couldn't agree more with the comment you're replying to.

Re: Starting a crypto project

#67

Post by reedjosh »

noxer wrote: post #61

Here is a free tip if you want to do it anyway. DON'T CREATE ANOTHER F**ING TOKEN! Build you product on an existing reliable fast and cheap blockchain that fits your needs. Focus on the product not the price of tokens on said DLT. You dont need a token. No, really you dont. Your tokens only use case is likely to transfer value and guess which token can do this better than yours? All of them! Simply because they alrea…

Only downside is you can't inflate the supply for unique purposes.

For example PeakD.com inflates hive to give content creators tips based on likes.

Edit: I thought this was legitimate reasoning behind having your own token. I don't mean it in an inflammatory way. Please explain why you disagree.

Re: Starting a crypto project

#69

Post by reedjosh »

samvher wrote: post #62
hanniabu wrote: post #60

Earlier quoted context omitted.

Don't waste your breath dude, HN has become a safe haven for people that like to bury their head in the sand and shit talk crypto. Yeah, anybody that's actually knowledgeable in it know that what they're saying are the same old sad tropes that the news has been training people to repeat verbatim, but they've boxed themselves in and they'll die on this hill.

Where is a place to get a broader perspective on this? I've tried subreddits for some of the projects, the cryptocurrency subreddit, and google and youtube. I have a lot of difficulty cutting through the noise. (My sense is that projects like Ethereum could be extremely valuable but that its value is currently hurt by the speculation on Ether making transactions far too costly. I'd be very interested in getting expos…

I like https://talesfromthecrypt.libsyn.com/

It's ostensibly a BTC podcast, but it's _really_ about much more including second tier networks, altcoin tech, and individual autonomy.

Otherwise, getting involved in the code itself does seem to be the only avenue I've found for real learning.

There's an O'Reilly book that has you build a blockchain from scratch if you're interested.

I'd welcome other suggestions.

Oh, also Tezos has most of Ethereum's features, but is already Proof of Stake.

Post reply on HN