Topic: Profitability vs. real value (Read 364 times)
Ofcourse i get that people want to make money because of some circumstances they have. My point is, lets stop only focusing on profits and bringing in more people to crypto for profits and start investing and supporting projects that bring us forward and make the use of decentralized currency a common good. That will make you money AND change the world for the better.
I just don't get it... why are people bying crypto JUST for the profitabily of it and not the promise to make products/services/prices and the distribution of wealth more equal? If you want to make a profit, take your fiat and go to wallstreet and fuck up their world. People coming into crypto just looking for profit are harming the community and the trust in crypto currencies. They are investing in ICO's promising profit and nothing else and encourigng new projects to focus on the profitabily of their coin rather than actually adding value. This tech makes it possible to change the way the world works and what are you doing? Trying to make a profit and not caring about how it affects projects that are really trying to reshape the world. This is getting scammers money and legit projects are dying because it won't give you a 10000% return on investment.
After sending this post I'll be out again looking for promising altcoins to invest in so i can get a lot of profit. Lol.
But really, i get you, this also saddens me. But tge thing is, there is nothing we can do. This is human nature. And changing it would be so damn hard and nearly impossible. Plus, people who are after profit have different reasons. Be it having a home, a car, to help a friend, save a family from illness etc. there is no end in the list. And that is another thing that fuels greed for profit. Because we all need something in life. And those free things are just not enlugh sometimes. Even love itself. I am speaking truth here.
I dont say it is good, but tolerable, depending on the circumstances. We can never judge anyone because we don't know what they are going theough or what their problems really are.
I suggest you just focus on things you can control rather than be upset about something you can do nothing about.
Hope this clears things up for you. Cheers.
well profitability is made by miner, in the sense that if they can't get enough money for their activity it's not profitable, instead real value made by investors, which invest and create demand for the coins, investors are fooled by their own speculation lol
Real value does not matter at all because I can sell my coins whenever I want, you don't need to think about a coin much just buy it and sell whenever you want and prices of coins don't increase according to the their real value. As you can see 0x almost made x10 1-2 days after the ico, this is because of its real value? not for sure.
This... exactly this... what are the profits worth if there is no real world value? NOTHING. You're just selling to a naive bagholder, do you feel better about yourself when you dropped your bags on some poor fuck who doesn't get it? Yeah people should do their research but they don't, and devs know it. By keeping the focus on profitabilty, we are building an exact replica of wallstreet where the small guy is left holding the bags and the big players making profit out of thin air.
People want to make money, of course, but having that as your main goal and motivation is only making projects scammier and regulators looking to crack down on ICO's and ITO's.
If we want to keep this in the hands of the people, we should stop scamming eachother. We can start that by stopping the demand for high profits because its the wrong incentive. If we are going to keep incentivising devs to focus on profitabilty on not real world applications this shit is going to be worse than the dot com bubble.
Its already started scaring people off and it would be a shame if we didn't take this oppertunity to make all our financial transactions more fair for all that are involved. I'm tired of banks/governments/corporations making life miserable for 95% of the worldpopulation for profit. Let's not make the same mistake.
If we want to keep this in the hands of the people, we should stop scamming eachother. We can start that by stopping the demand for high profits because its the wrong incentive. If we are going to keep incentivising devs to focus on profitabilty on not real world applications this shit is going to be worse than the dot com bubble.
Its already started scaring people off and it would be a shame if we didn't take this oppertunity to make all our financial transactions more fair for all that are involved. I'm tired of banks/governments/corporations making life miserable for 95% of the worldpopulation for profit. Let's not make the same mistake.
Real value does not matter at all because I can sell my coins whenever I want, you don't need to think about a coin much just buy it and sell whenever you want and prices of coins don't increase according to the their real value. As you can see 0x almost made x10 1-2 days after the ico, this is because of its real value? not for sure.
because money makes the world go round and round. You can be an idealist and only support projects that have real value but you cannot stop people from investing on something that is more profitable. You can fight it all you want but you will have a hard time stopping it. Scammers will continue to scam because of greed.
welcome to the real world!
people are only interested in making more money. surely enough these so called developers are giving it to them! they create things that can give them profit and nothing else.
and surely enough the "tech" is being used by the centralized sector because they know the real value of it. banks, corporations, ... are now adopting the blockchain technology for themselves.
people are only interested in making more money. surely enough these so called developers are giving it to them! they create things that can give them profit and nothing else.
and surely enough the "tech" is being used by the centralized sector because they know the real value of it. banks, corporations, ... are now adopting the blockchain technology for themselves.
I think an ICO is profitable when it deals with a product or service. I don't think lots of people invest in an ICO which has no product or service and just has created an useless token. There are lots of such unsuccessful ICOs. How can an ICO be successful when there is no product or service or any benefit?
I just don't get it... why are people bying crypto JUST for the profitabily of it and not the promise to make products/services/prices and the distribution of wealth more equal? If you want to make a profit, take your fiat and go to wallstreet and fuck up their world. People coming into crypto just looking for profit are harming the community and the trust in crypto currencies. They are investing in ICO's promising profit and nothing else and encourigng new projects to focus on the profitabily of their coin rather than actually adding value. This tech makes it possible to change the way the world works and what are you doing? Trying to make a profit and not caring about how it affects projects that are really trying to reshape the world. This is getting scammers money and legit projects are dying because it won't give you a 10000% return on investment.
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