What happened to the creator of the first automobile even after his or her death the idea keeps improving.
If a creator of a cryptocurrency dies and the team left to handle it continues the job then it would not make a big difference
Topic: Creator and Developer Gone - page 4. (Read 5079 times)
It seems like you don't understand the very basics of cryptocurrency.
first off, blockchain technology is open source.
That means that no one owns it.
It's more like a collective, anyone can join in and run it.
Sometimes, you will have a company create a blockchain and limit access to it (like ripple), so that is when people call it centralized.
So if a developer, creator, or anyone "running" the blockchain is gone, then the blockchain just doesn't get maintained.
But anyone can jump in and run it, essentially resurrecting the project.
As far as value of coins go, no crypto currency has inherent value, it is all peer to peer.
That means it is only worth as much as someone is willing to pay for it.
Exchanges merely facilitate this transaction.
So if no one is willing to buy it, then it has no value.
first off, blockchain technology is open source.
That means that no one owns it.
It's more like a collective, anyone can join in and run it.
Sometimes, you will have a company create a blockchain and limit access to it (like ripple), so that is when people call it centralized.
So if a developer, creator, or anyone "running" the blockchain is gone, then the blockchain just doesn't get maintained.
But anyone can jump in and run it, essentially resurrecting the project.
As far as value of coins go, no crypto currency has inherent value, it is all peer to peer.
That means it is only worth as much as someone is willing to pay for it.
Exchanges merely facilitate this transaction.
So if no one is willing to buy it, then it has no value.
Impact won't be much if a project is well decentralized. The less decentralized a project is the more likely it will be affected by the lost of its developers. This is why it is important to use better decentralized blockchains/cryptocurrencies
There are so many cryptocurrencies in the market.
If one day the creators and developers of any of these currencies die or bancrupt, what will happen to the currencies? What will happen to the coins we have? Are the coins we have still worth anything?
There is a possibility that a group of whales can adopt it and continue working on this project, provided that the developers or it's team are no tholding huge amount of that coins or else they will make huge profit at the expense of those who adopt and continue working on these projects. If one day the creators and developers of any of these currencies die or bancrupt, what will happen to the currencies? What will happen to the coins we have? Are the coins we have still worth anything?
It depends on their roles at the moment.
In some projects creator is not in business, he is just a face.
Developers? well you can always substitute them, IMO!
In some projects creator is not in business, he is just a face.
Developers? well you can always substitute them, IMO!
Ha, many projects are waiting for just such a fate. Moreover, developers leave for completely different reasons.
The problem of a crypto startups is completely in a different plane: greed and treachery.
Discussed in this topic is not a problem, IMO, as there is always a team of several people. This has already been said above.
The problem of a crypto startups is completely in a different plane: greed and treachery.
Discussed in this topic is not a problem, IMO, as there is always a team of several people. This has already been said above.
well it depends on the project.
type 1:
projects that are truly decentralized, have no "owner", had no fund raising scam, no ICO, no premine, no other shenanigans,... these projects do NOT depend on their creator. as an example you can check out bitcoin. Satoshi aka the creator is unknown and is no longer around and bitcoin is growing more and more every day.
type 2:
the projects that are centralized, have an "owner", had fund raising scam, had ICO, had premine, or any other form of owning a big "share" in that coin to make profit from it. these projects depend completely on their owners and if something were to happen to that person (or company) that coin would disappear in a blinking of an eye. as an example you can check out ethereum and ripple.
type 1:
projects that are truly decentralized, have no "owner", had no fund raising scam, no ICO, no premine, no other shenanigans,... these projects do NOT depend on their creator. as an example you can check out bitcoin. Satoshi aka the creator is unknown and is no longer around and bitcoin is growing more and more every day.
type 2:
the projects that are centralized, have an "owner", had fund raising scam, had ICO, had premine, or any other form of owning a big "share" in that coin to make profit from it. these projects depend completely on their owners and if something were to happen to that person (or company) that coin would disappear in a blinking of an eye. as an example you can check out ethereum and ripple.
Well, that's why it's always best to support open-source crypto projects.
Even if something happens to the creator, the project itself will always live on.
Well, or it gets forked, that basically happens all the time. I mean, Litecoin and many other coins were also forked from Bitcoin.
Bitcoin itself also thrives without its creator being present...
Even if something happens to the creator, the project itself will always live on.
Well, or it gets forked, that basically happens all the time. I mean, Litecoin and many other coins were also forked from Bitcoin.
Bitcoin itself also thrives without its creator being present...
If one day the creators and developers of any of these currencies die or bancrupt, what will happen to the currencies?
If a certain project has a team of developers, then a death of one will not necessarily affect the development of the coin/token. If they go bankrupt, they can offer the project up for sale or the community can also take over. In case there is a change of ownership, the development is likely to be delayed or likely to have major changes.
In my opinion, if someday the creators and developers of the cryptocurrency are lost, then the coins we have are still valuable provided that the coins are still in demand. because a coin is worth or not depends on the buyer.
There are so many cryptocurrencies in the market.
If one day the creators and developers of any of these currencies die or bancrupt, what will happen to the currencies? What will happen to the coins we have? Are the coins we have still worth anything?
Tokens that found themselves in this fate always become bump and dump coin. Luc was having a dev until they went bankrupt, the developer left the token is now a bump and dump on yobit exchange. If one day the creators and developers of any of these currencies die or bancrupt, what will happen to the currencies? What will happen to the coins we have? Are the coins we have still worth anything?
Holding tokens without developers is too risky ,if you have any now I'd suggest you sell while you still can ,even if the token has high adoption rate is will die a slow death since no more updates from devs
There are so many cryptocurrencies in the market.
If one day the creators and developers of any of these currencies die or bancrupt, what will happen to the currencies? What will happen to the coins we have? Are the coins we have still worth anything?
If one day the creators and developers of any of these currencies die or bancrupt, what will happen to the currencies? What will happen to the coins we have? Are the coins we have still worth anything?
A good project of course developers is already thinking about if they are already dead. If the coin has a good potential will certainly have many investors so this investor who will later develop the coin. But until now it is very difficult if the project has no developer.
There are so many cryptocurrencies in the market.
If one day the creators and developers of any of these currencies die or bancrupt, what will happen to the currencies? What will happen to the coins we have? Are the coins we have still worth anything?
You should know that a coin with an inactive team is more or less dead. Which is as much as saying that it will loose its investors. You should not also expect that everyone in the team will die. Inasmuch as there are still others available to carrying on with the development, you are good to carry on with it. A coin that has a good team with good intension cannot go bankrupt and and if they do, it might be sold out to those who have the zeal to carry-on the vision. If one day the creators and developers of any of these currencies die or bancrupt, what will happen to the currencies? What will happen to the coins we have? Are the coins we have still worth anything?
more often projects will also disappear with the disappearance of their creator. only if the project really brings great benefit to the society then it will be developing without CEO
The truth is it depends on how far the project has gone before this happens, a coin like bitcoin, etherium among several others do not need the developer alone to continue trading, their values may tank a while but they will continue to exist because majority of those trading etherium never knew how vitalk was. Newer projects that requires payments to be listed on exchanges will die, this is the fate of a lot of gone tokens
Actually all the major coins, whether it's Bitcoin, Ethereum, Monero and so on, all have behind them a team, not a single developer.
The case of Bitcoin is that even though Satoshi has left, there's still a team maintaining and upgrading it.
And if the oldest coin needs a development team, I'd say that no proper coin can really survive without somebody behind it. It's psychological (price) and practical (big software does need maintenance).
So most of the coins with developer gone are clearly doomed. Very few of them end up by being take over by the community or other developer(s).
There are so many cryptocurrencies in the market.
If one day the creators and developers of any of these currencies die or bancrupt, what will happen to the currencies? What will happen to the coins we have? Are the coins we have still worth anything?
If one day the creators and developers of any of these currencies die or bancrupt, what will happen to the currencies? What will happen to the coins we have? Are the coins we have still worth anything?
They will lose their value if the coin is very much associated with certain products or services, but if they are an algo they can be managed by another group or individuals just like what happened to Bitcoin, I have been into projects that lose it's value and community because the main developers stopped updating their project.
I have witnessed certain projects that their developers eventually disappeared and the project suddenly died. The truth is it depends on how far the project has gone before this happens, a coin like bitcoin, etherium among several others do not need the developer alone to continue trading, their values may tank a while but they will continue to exist because majority of those trading etherium never knew how vitalk was. Newer projects that requires payments to be listed on exchanges will die, this is the fate of a lot of gone tokens
It the coin is still being traded on an exchange and if the servers maintaining the blockchain are still running, then the coin can live his own life like Dogecoin for example.
If the source code of the project is in open source on the internet, another team can take the lead of the coin. If the coin is a token on the Ethereum network, it can't disappear.
If the source code of the project is in open source on the internet, another team can take the lead of the coin. If the coin is a token on the Ethereum network, it can't disappear.
It depends, there have been some projects in the past that have been abandoned by their developers but the community have taken over and refloated them. In those cases, the coin can survive, otherwise, it can't.
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