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Topic: A True Cryptocurrency must start with the fundamentals - page 2. (Read 3133 times)
of all the listed suggestions I most confess having a solid use-case is the most important feature in a project. It beats me hollow when I see projects with zero or no use-case propagating in the crypto space. No use case equals to know the demand and this further implies no value. Hence its pivotal for a project to have a good usecase in order to ensure value.
Couldn't possibly agree with you more. There are tons of useless projects out there with 0 use cases at all. They simply steal code from other projects, and claim it as their own under some kind of disguise, some don't hide it at all.
One of the few projects I know who's been working their asses off is Blocknet. These guys made the first DEX, coded everything from scratch, yet it seems like nobody cares? I don't get it.
Look at TRON, just as an example. Did an ICO with empty promises, recieved millions in funding, pumped like crazy, and dumped back down again, yet it's STILL a top 20 coin, based on what? NOTHING.
As an investor it's really hard to know which projects is worth your time, and which aren't. Blocknet is pretty solid though, among other old projects who had the time to develop their own products.
Crypto currency is full of fundamental knowledge based trading a crypto currency trader should stick with his fundamental knowledge based then we can pick price fluctuation and book profits
Thank you for choosing to teach @TokenHodlr, and I pretty much agree with what you said.
Economics, the allocation of resources, perhaps cannot satisfy all involved parties. Governance, the distribution of power, maybe always imbalanced, continuous cycle of order and chaos.
However, before I pass the baton to anyone who is far more competent than me, here's my general idea:
Freedom to choose between saving, consumption, and investment, but encouraging people without coercion to create/produce/invest, and not to hoard.
A mechanism to protect the system from malicious acts of its biggest holder and its creator.
A mechanism to prevent it from being used as speculative assets at its infancy.
I don't view these as failure of morality issues. These are in fact, in my opinion, simply symptomatic
of a systemic failure on the part of our systems, institutions and the governance thereof.
Having invested more than 30 years in the turnaround/startup space, some key lessons I've picked up
along the way are, in no particular order, the system over time corrupts the people. This is
the fault of the system not the people.
I have a similar conclusion about the system as the source of problems. I've seen enough evidence that the system can turn "good people" into "bad people." Humans have two polarities, the X and Y in one package, and I see the current system embrace one side over another.of a systemic failure on the part of our systems, institutions and the governance thereof.
Having invested more than 30 years in the turnaround/startup space, some key lessons I've picked up
along the way are, in no particular order, the system over time corrupts the people. This is
the fault of the system not the people.
To me cryptocurrencies are but a small part, although important as a component, but far from a problem-solver
in and of themselves. The Eco-system and cryptocurrencies that will ultimately succeed have not been visioneered,
engineered and brought to market yet.
It's very noble for you to keep doing this research while there is a probability that this (true cryptocurrency) is only a utopia. Probably currencies should be detached from economics and governance.in and of themselves. The Eco-system and cryptocurrencies that will ultimately succeed have not been visioneered,
engineered and brought to market yet.
Economics, the allocation of resources, perhaps cannot satisfy all involved parties. Governance, the distribution of power, maybe always imbalanced, continuous cycle of order and chaos.
However, before I pass the baton to anyone who is far more competent than me, here's my general idea:
Freedom to choose between saving, consumption, and investment, but encouraging people without coercion to create/produce/invest, and not to hoard.
A mechanism to protect the system from malicious acts of its biggest holder and its creator.
A mechanism to prevent it from being used as speculative assets at its infancy.
It is often criticized actually... some said let it "flow" naturally, the recession is good for the economy.
Recession is good for the economy, in the sense that it is the winter season in all properly
functioning economies and their markets. Without winter, there is no pruning mechanism,
which provides the fertile space for the new and renewable growth that drives the entrepreneurial
impulse, producing the surplus seed corn, for planting in the spring, after the winter has done its wonderful work.
The consumption-based economy failed to predict that humans are incredibly greedy, lazy,
risk-averse, etc. Instead of using the increased money supply to do productive activities, they use
it to inflate assets/commodities.
risk-averse, etc. Instead of using the increased money supply to do productive activities, they use
it to inflate assets/commodities.
I don't view these as failure of morality issues. These are in fact, in my opinion, simply symptomatic
of a systemic failure on the part of our systems, institutions and the governance thereof. This too, I see
as a multi-generational cycle. A defining characteristic this time around is the rapidity at which the change
is taking place. In other words, what used to take generations to acquire can now be realized intra-generationally.
This, I believe is being driven by a multiplicity of "mega-trends" coalescing into "meta-trends". When I first
began to tease this out, one of the conclusions I thought I had made was that this was happening so quickly
that it had to lead to some kind of culture shock. Don't think I could've been more wrong about that.
The reality of it is that more than 99% of humanity is sleepwalking right
through it, and as history reveals to us, there will be a relative handful of
people that recognize these universal drivers, setting themselves and their
descendants up as the new movers, shapers, rain & king-makers, for generations to come.
How to encourage greedy, lazy, and overly risk-averse people to work? To be more entrepreneurial? (push)
How to attract diligent, bright, and risk-taker people to keep working and producing? (pull)
How "cryptocurrencies" alone solve this problem?
Perhaps, the "better" system has not been envisioned?
How to attract diligent, bright, and risk-taker people to keep working and producing? (pull)
How "cryptocurrencies" alone solve this problem?
Perhaps, the "better" system has not been envisioned?
Having invested more than 30 years in the turnaround/startup space, some key lessons I've picked up
along the way are, in no particular order, the system over time corrupts the people. This is
the fault of the system not the people. There is no greater fertilizer than an owners footprints,
provide a vesting mechanism and transform them all into owners. It is like cutting the string from
a helium balloon. The solution is almost always where the problem is. Start at the shipping/receiving
dock and ask them, "What can I do to help make your work bigger, better, faster and funner"? and long
before you get to the E Suite, they will have provided you with the turnaround plan. And a bonus is, they
also reveal to you where and who the dead wood is, so the pruning can begin as well. That can be like discovering a vaccine.
To me cryptocurrencies are but a small part, although important as a component, but far from a problem-solver
in and of themselves. The Eco-system and cryptocurrencies that will ultimately succeed have not been visioneered,
engineered and brought to market yet.
Any good project must be based on sound fundamentals but to me what differentiate good projects that succeeded and those that do not is sound marketing behind their project, this is one thing in the space that is really lacking, what most of these projects rely on is using Twitter influencers and this can only do 1/10th of what needed to be done. Until this is looked into critically, not when you want to raise money but after the platform is up and running
Marketing/sales has two strategic approaches. One is a push, the other is pull.
Push entails force, very expensive, pull has your constituency driving demand.
I agree that marketing can be done after the product is running and so investors understand about the project to be invested. Fundamentals are important because they form the foundation of a project because fundamental analysis will determine how a company earns money and finances the project
In block chain majority, we need to understand fundamental analysis about the future activity that's how they will raise the fund through their crowd sales. Their major target is to develop the product to get more exposure in the market and it will help them to attract the investors and traders.
It is often criticized actually... some said let it "flow" naturally, the recession is good for the economy.
When inflation is already low, how government tax people? Obviously with negative interest rates.
How to attract diligent, bright, and risk-taker people to keep working and producing? (pull)
How "cryptocurrencies" alone solve this problem?
Perhaps, the "better" system has not been envisioned?
Under what scenario would anyone lend $1,000 to receive $900 in return at some point in the future?
This:The consumption-based economy failed to predict that humans are incredibly greedy, lazy, risk-averse, etc. Instead of using the increased money supply to do productive activities, they use it to inflate assets/commodities.
The contemporary economic systems encourage spending (consumption) to drive economic activities. It assumed that HODL is terrible for the economy. Inflation is a form of tax for idle money.When inflation is already low, how government tax people? Obviously with negative interest rates.
Civilization requires productive surplus and accumulation; de-civilization happens when
too many people borrow, spend, and consume more than they produce.
How to encourage greedy, lazy, and overly risk-averse people to work? To be more entrepreneurial? (push)too many people borrow, spend, and consume more than they produce.
How to attract diligent, bright, and risk-taker people to keep working and producing? (pull)
How "cryptocurrencies" alone solve this problem?
Perhaps, the "better" system has not been envisioned?
No society in history has previously entertained the idea of negative interest rates.
The destruction of capital, economic and social, should be contrary to every human impulse.
Civilization requires productive surplus and accumulation; de-civilization happens when
too many people borrow, spend, and consume more than they produce.
However, what if the crypto revolution succeeds?
What would it look, sound, smell, taste, feel …like
As in any revolution, today’s top dogs have the most to lose.
The destruction of capital, economic and social, should be contrary to every human impulse.
Civilization requires productive surplus and accumulation; de-civilization happens when
too many people borrow, spend, and consume more than they produce.
However, what if the crypto revolution succeeds?
What would it look, sound, smell, taste, feel …like
As in any revolution, today’s top dogs have the most to lose.
In my wildest opinion
I think currency is used only as MoE and UoA. It doesn't yield profit, doesn't have intrinsic value, doesn't have to be pegged with anything (at its final form). The problem with the fiat however, the government keep playing with the supply (inflation).
The consumption-based economy failed to predict that humans are incredibly greedy, lazy, risk-averse, etc. Instead of using the increased money supply to do productive activities, they use it to inflate assets/commodities.
Treating currency like stocks, that can yielding profits, have a predictable outcome, the greediest people will compete to have the biggest pie. And do nothing.
Maybe currency has to be pegged with gold as in a true gold standard, to reduce speculative behavior.
And then slowly and silently partially detached from gold (after WW1 - Bretton Woods).
Then completely separated from gold (Nixon).
The funny thing is, a lot of people still think that currencies are "backed" by gold. I believe this is why the currency is relatively stable because the uninformed don't understand. The perception has penetrated the deepest subconscious brain area, that the money is stable.
A similar event occurred in 98 when SE Asian countries abandoned pegged system (USD) and then used the free-float system.
Cryptocurrencies, without first pegged with something stable, would end as speculative assets.
I think currency is used only as MoE and UoA. It doesn't yield profit, doesn't have intrinsic value, doesn't have to be pegged with anything (at its final form). The problem with the fiat however, the government keep playing with the supply (inflation).
The consumption-based economy failed to predict that humans are incredibly greedy, lazy, risk-averse, etc. Instead of using the increased money supply to do productive activities, they use it to inflate assets/commodities.
Treating currency like stocks, that can yielding profits, have a predictable outcome, the greediest people will compete to have the biggest pie. And do nothing.
Maybe currency has to be pegged with gold as in a true gold standard, to reduce speculative behavior.
And then slowly and silently partially detached from gold (after WW1 - Bretton Woods).
Then completely separated from gold (Nixon).
The funny thing is, a lot of people still think that currencies are "backed" by gold. I believe this is why the currency is relatively stable because the uninformed don't understand. The perception has penetrated the deepest subconscious brain area, that the money is stable.
A similar event occurred in 98 when SE Asian countries abandoned pegged system (USD) and then used the free-float system.
Cryptocurrencies, without first pegged with something stable, would end as speculative assets.
Negative interest rates turn everything we know about economics upside down.
Under what scenario would anyone lend $1,000 to receive $900 in return at some point in the future?
Only when the alternative is to receive $800 back instead, due to the predicted interventions of central
banks and governments. Only then would locking in a set rate of capital loss make sense.
By "capital loss" I mean just that; when there is, no positive interest paid, the principal itself must be consumed.
In my wildest opinion
I think currency is used only as MoE and UoA. It doesn't yield profit, doesn't have intrinsic value, doesn't have to be pegged with anything (at its final form). The problem with the fiat however, the government keep playing with the supply (inflation).
The consumption-based economy failed to predict that humans are incredibly greedy, lazy, risk-averse, etc. Instead of using the increased money supply to do productive activities, they use it to inflate assets/commodities.
Treating currency like stocks, that can yielding profits, have a predictable outcome, the greediest people will compete to have the biggest pie. And do nothing.
Maybe currency has to be pegged with gold as in a true gold standard, to reduce speculative behavior.
And then slowly and silently partially detached from gold (after WW1 - Bretton Woods).
Then completely separated from gold (Nixon).
The funny thing is, a lot of people still think that currencies are "backed" by gold. I believe this is why the currency is relatively stable because the uninformed don't understand. The perception has penetrated the deepest subconscious brain area, that the money is stable.
A similar event occurred in 98 when SE Asian countries abandoned pegged system (USD) and then used the free-float system.
Cryptocurrencies, without first pegged with something stable, would end as speculative assets.
I think currency is used only as MoE and UoA. It doesn't yield profit, doesn't have intrinsic value, doesn't have to be pegged with anything (at its final form). The problem with the fiat however, the government keep playing with the supply (inflation).
The consumption-based economy failed to predict that humans are incredibly greedy, lazy, risk-averse, etc. Instead of using the increased money supply to do productive activities, they use it to inflate assets/commodities.
Treating currency like stocks, that can yielding profits, have a predictable outcome, the greediest people will compete to have the biggest pie. And do nothing.
Maybe currency has to be pegged with gold as in a true gold standard, to reduce speculative behavior.
And then slowly and silently partially detached from gold (after WW1 - Bretton Woods).
Then completely separated from gold (Nixon).
The funny thing is, a lot of people still think that currencies are "backed" by gold. I believe this is why the currency is relatively stable because the uninformed don't understand. The perception has penetrated the deepest subconscious brain area, that the money is stable.
A similar event occurred in 98 when SE Asian countries abandoned pegged system (USD) and then used the free-float system.
Cryptocurrencies, without first pegged with something stable, would end as speculative assets.
I believe there already exist cryptocurrencies that can achieve most of the things you listed in Blockchain-friendly manner. Some altcoins have also done alot of difficult development job in Blockchain world. They will just need to keep improving the existing products. New coins will probably just copy them or build centralized Blockchains.
I'm sure the things I've listed as prerequisites are far from inclusive of the elements necessary for strategic success. This very small list was meant as a stimulant for mind-storming only.
I think we could certainly find it useful if you could provide some examples of crypto systems that achieve even these few things listed in this thread.
Much gratitude for your contribution to the community and the conversation.
The MOE would feature broad functionality, more than just a ‘beautifully crafted concept’,
an authentic and viable instrument which would seamlessly operate on a global scale.
Implemented by virtue of Blockchain technology, and secured by continuous community
audit of all income streams and the assets producing those cash flows.
From my perspective, altcoins reveal how little true price discovery there is to Bitcoin... This is as true of any Altcoin or ‘currency’ which isn't directly linked and convertible into Fundamental Physical Commodities; land, buildings, equipment, finished goods inventory, food, water, shelter, natural resources, other currencies/financial instruments, etc.
At an authenticated, Published and Transparent Conversion Rate.
an authentic and viable instrument which would seamlessly operate on a global scale.
Implemented by virtue of Blockchain technology, and secured by continuous community
audit of all income streams and the assets producing those cash flows.
From my perspective, altcoins reveal how little true price discovery there is to Bitcoin... This is as true of any Altcoin or ‘currency’ which isn't directly linked and convertible into Fundamental Physical Commodities; land, buildings, equipment, finished goods inventory, food, water, shelter, natural resources, other currencies/financial instruments, etc.
At an authenticated, Published and Transparent Conversion Rate.
Since, ‘companies’ derive their revenue/earnings from consumption of their goods, products, and services; it is only logical that price appreciation, over any-term, should be fairly equated to its economic growth. This should/could be the case in a properly engineered crypto-system as well.
What I am suggesting is that if you are going to invest in the DLT/Blockchain, Crypto markets, arguably one of the most insane games on the planet, then you need to have some measure to protect your investment capital from significant losses.
Unclear on what the catalyst could be, if anything news-wise, but cryptos are collapsing across the board with altcoins leading the plunge... Bitcoin’s network hash rate dipped a record 40% yesterday, Sept. 23, in a sudden shock for the network.
The most important part is the use case, which 90 percent of all currencies do not have at all. They can have a good website, whitepaper, community, but without real value behind the project, no coin will achieve something.
An example of this is the definition of Webchain, it is a well-defined project which conceives the community of website users as the processing grid for applications, based on blockchain technology, open-source, a very precise white paper, which shows the real value of your product and innovation in the consensus mechanism.Next to Webchain, are CoinIMP (JavaScript Web Miner) and Mintme (Exchange Platform), platforms that make up a whole ecosystem. Although Mintme goes much further, you can create your own tokens and give them value in WEB currencies, trade them or invest in the tokens of other creators, among other features.
I am familiar with the first two recommendations. The third one I will give a look.
For me, the use case, meaning fungibility, utility, or ubiquitous exchangeability is paramount. Its usefulness should be at least up to the standard of USD without the insidious inflation that eats away savers' financial plans, purchasing power and store of value...
Re-inventing the wheel isn't what I'm looking for or proposing here. In my 3+ years of
researching these issues and more than 30 years of operations experience reveals to me that
the right team with the right balance, both in breadth and depth of experience, has simply not been
put together to produce even one project, that I'm aware of, that successfully combines all of the elements
necessary for the project to go from ICO to Apex-class competitor.
Sir, if I may presume so,
No, I'm a sucker.My apologies, I'm under the impression that you are here to speak/teach about your "new cryptocurrency." But I think what you want is:
I am here to make life deeply satisfying.
So, I wish you good luck finding what you are looking for in this place.Seriously? The Bitcointalk altcoin discussion?
Admittedly, that was a bit cheesy. Should've used the sarc button.
It has been my observation that the best teachers were also the best students.
On a more serious note,
The big issue for me in all the offerings I've seen is a simple lack of authenticatable yield; no income, no basis for discovery of true price/value. Just pure speculation; or better yet, gambling. I think this is best illustrated looking at the historical price charts, especially the last 5 years. For all coins, including Bitcoin. You will see they move almost in tandem; a glaring indication they're pretty much all 'me too' coins. Although recently Altcoins have, on occasion, led Bitcoin, especially to the downside.
Yield as we know, is the wisest and truest protector from inflation's ills and preserver of wealth and the formation of capital. Without high-quality income-producing assets at the foundation of the cryptocurrency, there will be no mechanism for true price/value discovery in the open markets that transactors can rely on.
The most important part is the use case, which 90 percent of all currencies do not have at all. They can have a good website, whitepaper, community, but without real value behind the project, no coin will achieve something.
An example of this is the definition of Webchain, it is a well-defined project which conceives the community of website users as the processing grid for applications, based on blockchain technology, open-source, a very precise white paper, which shows the real value of your product and innovation in the consensus mechanism.Next to Webchain, are CoinIMP (JavaScript Web Miner) and Mintme (Exchange Platform), platforms that make up a whole ecosystem. Although Mintme goes much further, you can create your own tokens and give them value in WEB currencies, trade them or invest in the tokens of other creators, among other features.
Sir, if I may presume so,
No, I'm a sucker.My apologies, I'm under the impression that you are here to speak/teach about your "new cryptocurrency." But I think what you want is:
I am here to make life deeply satisfying.
So, I wish you good luck finding what you are looking for in this place.Seriously? The Bitcointalk altcoin discussion?
You are driving very deep on your point. Yes you are right that fundamentals are important and I think to all thing this is important. But always remember that function and marketing is more important in everything because this is the heart of every business or any project. Deep article or post is not important in this industry. We are here to make our life easy and comfartable not in a deep conversation.
Understood, however, I take issue with your inference, that we are here to make our lives easy and comfortable.
I am here to make life deeply satisfying.
The most important part is the use case, which 90 percent of all currencies do not have at all. They can have a good website, whitepaper, community, but without real value behind the project, no coin will achieve something.
I must confess, I have not followed your commentary on this forum.
Thus, do not discern the discrepancy between your activity and merit scores. However, I will wholeheartedly endorse the entirety of your contribution to this most eventful conversation.
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