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Starting a crypto project

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Re: Starting a crypto project

#291

Post by aero- »

1experience wrote: post #117
pattusk wrote: post #45

Earlier quoted context omitted.

I said most because indeed most of the innovation, both technical and cultural originates from Ethereum. But DOGE, XRP, ADA, LTC, BCH, TRON, ETC. EOS, NEO, BSV are all in the top 25 and have nothing to show for it despite being some of the oldest players in the space. The L2 projects on Bitcoin are not new and they've never brought anything revolutionary. And I think BTC is fine without L2, it's a very different phil…

There is no rationale here to be found, You are comparing an insane bubble (Doge, etc.) to a regular bubble (Avalanche, etc.). People have completely lost the value of money, do you realize how much money is $4.5 billion? In 2007 Apple had a market cap of 80 billion and a P/E ratio of 26, it had revolutionary products on the market that were clearly going to change an entire industry while at the same time bringing i…

People have completely lost the value of money.

I could not agree more, I've been so heated over the last year looking for any sort of rationale but this greed fueled fake currency explosion is driving me insane. I understand the tech, I don not understand the hype.

Re: Starting a crypto project

#292

Post by conanbatt »

aero- wrote: post #290

Still waiting for someone to name one singular measurable impact of a crypto project. It's a solution that's been searching for a problem for over 10 years. Decentralized, distributed, blah blah, stop drinking the koolaid. Is a network controlled primarily by 4 mining companies decentralized? Do you need a distributed network to sell NFTS that are only useable within the world of a specific video game company? (game…

> Still waiting for someone to name one singular measurable impact of a crypto project. It's a solution that's been searching for a problem for over 10 years.

Protection against a devaluing currency, privacy and access.

Re: Starting a crypto project

#293

Post by arcticbull »

kenneth wrote: post #277
atweiden wrote: post #272

Earlier quoted context omitted.

There’s a difference between the cryptocurrency world’s definition of “innovation”, and solving longstanding problems for humanity. How does Bitcoin solve inequality? How does Bitcoin solve world hunger? How does Bitcoin solve disease? Bitcoin — and cryptocurrencies more broadly — do none of those things, with only one notable exception. Bitcoin — being a global currency of fixed supply — stands to usher in a global…

Cryptocurrencies by virtue of being digital money accessible anywhere in the world and not manipulatable by central banks can do a ton of good in countries that are experiencing currency mismanagement. It was particularly popular in Argentina, and right now Lebanon is experiencing hyperinflation as well. Controversial opinion — but I'm of the mind that the world is about to experience massive inflation due to the hor…

Thing is though it’s not being used in those cases even though it’s available because of fundamental limitations. Concretely over the last few years a full 66% of all transactions in Venezuela are now conducted in USD. The USD is simply a far superior currency along every metric. Stable, fungible, cheap, internationally accepted.

Re: Starting a crypto project

#295

Post by [deleted] »

conanbatt wrote: post #292
aero- wrote: post #290

Still waiting for someone to name one singular measurable impact of a crypto project. It's a solution that's been searching for a problem for over 10 years. Decentralized, distributed, blah blah, stop drinking the koolaid. Is a network controlled primarily by 4 mining companies decentralized? Do you need a distributed network to sell NFTS that are only useable within the world of a specific video game company? (game…

> Still waiting for someone to name one singular measurable impact of a crypto project. It's a solution that's been searching for a problem for over 10 years. Protection against a devaluing currency, privacy and access.

[deleted]

Re: Starting a crypto project

#296

Post by celticninja »

notJim wrote: post #143
PragmaticPulp wrote: post #2

Can confirm. I’m friends with a group of very smart distributed systems engineers who were excited to launch an actually useful crypto project that gets talked about here from time to time. As much as they’re excited about the technology itself, very few people are actually interested in using it. Instead, their business seems to revolve around the value of the utility tokens for their project. Few people are buying…

> They’re buying them to horde so they can resell to other speculators when the price goes up. It's almost like all interest in cryptocurrency is driven by greed and speculation. I've been learning more about it, and I'm pretty convinced this is the case. Go into any crypto space, and all people are talking about is yield, price action, how much their tokens have grown etc. I think the only thing I've seen that isn't…

It wasn't always this way, in the early days there was genuine excitement around the technology. bitcointalk.org was a hive of ideas and opportunities. Bitcoin was used to transact internationally to trade goods, it was a payment medium as it was supposed to be. Even the bitcoin subreddit was good, but that turned first. Then all forums became dominated by price. I shudder at the posts I read these days about newbies to bitcoin. You are right it has become all about greed, nothing about the technology. When BTC hit $20k I remember telling a friend that while I was happy with the price it was ridiculous, bitcoin hadn't changed sufficiently to be worth that, but I also knew that if it hit $20k it would hit $50k and $100k, but I alway thought it would take longer because I assumed it would come from adoption of the technology. But it is all speculation now, you only have to love at dogecoin to see that. It is a virtually limitless coin, if it hits $10 it is through sheer madness. The same things said about bitcoin are being said about dogecoin. "It will be the payment medium of the internet, you can buy a coffee with it etc. But every post in the subreddit is about Lambos and moons.

It's a real shame.

Re: Starting a crypto project

#297

Post by celticninja »

notJim wrote: post #143
PragmaticPulp wrote: post #2

Can confirm. I’m friends with a group of very smart distributed systems engineers who were excited to launch an actually useful crypto project that gets talked about here from time to time. As much as they’re excited about the technology itself, very few people are actually interested in using it. Instead, their business seems to revolve around the value of the utility tokens for their project. Few people are buying…

> They’re buying them to horde so they can resell to other speculators when the price goes up. It's almost like all interest in cryptocurrency is driven by greed and speculation. I've been learning more about it, and I'm pretty convinced this is the case. Go into any crypto space, and all people are talking about is yield, price action, how much their tokens have grown etc. I think the only thing I've seen that isn't…

NFTs are the same thing though, yes the medium differs, but these high benchmark prices are being paid by people with hundreds of millions in cryptocurrency, with the aim pretty much of minting their own NFTs and selling them. Those big ticket items are just painting the tape. Likely bought and sold by the same people in many cases (if we take the crypto markets in general as a guide).

Re: Starting a crypto project

#298

Post by XorNot »

wonderwonder wrote: post #274
notJim wrote: post #143

Earlier quoted context omitted.

> They’re buying them to horde so they can resell to other speculators when the price goes up. It's almost like all interest in cryptocurrency is driven by greed and speculation. I've been learning more about it, and I'm pretty convinced this is the case. Go into any crypto space, and all people are talking about is yield, price action, how much their tokens have grown etc. I think the only thing I've seen that isn't…

To be fair though that's most things. That's the very purpose of the stock market. When you buy a stock most of the time most people don't care what the company it represents does, they just want the stock to go up. Same thing can be applied to most things there are vast warehouses full of art people will never see as its just owned as a tax dodge / speculation. Heck most of us work jobs we hate for nothing but money…

All those things still produce tangible goods at the end though, is the difference.

I can hate my job but at the end of the day I still created value for my employer. Companies on the stock market still create actual value for people, even if shareholders don't particularly care how they do it.

Re: Starting a crypto project

#299

Post by swensel »

space_rock wrote: post #279
swensel wrote: post #275

Earlier quoted context omitted.

Have you actually looked into the technology behind Ethereum? Do you understand how complex it is? You make it sound like Vitalik just quickly threw something together and had good marketing, however, Ethereum is quite technical and has been since the beginning [1]. [1] https://ethereum.org/en/whitepaper/

Been presenting on and teaching the technology for 7 years

OK, so you just don't like Ethereum? Why "garbage to fools"?
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