Topic: Some things will never work in crypto world - page 2. (Read 493 times)

Some developers are just using these to take advantage of crypto investors, if they don't give you attractive use cases you won't invest, I remember how addictive A.I projects was before people finally realize that no AI project will work, millions of dollars were put on these projects because everyone believe they will work.

AI, VR and Green Energy are multi-billion dollar industries which are bound to be the focus of future investments by major companies in these sectors. If you look at AI and VR, every major tech company from Google, Microsoft to Facebook are working on these. When it comes to Green Energy, all major infrastructure and energy companies like Siemens, Toshiba etc. are pouring billions into research as well as rebranding towards a Greener outlook. Compare this against the backdrop of blockchain industry which is yet to prove its worth in the most obvious of areas ripe for it. There is hardly any intersection between these industries and most such attempts are therefore little more than cash grabs and scams that are just exploiting these buzzwords.

When it comes to tokenization of gold, there is a long running signature campaign on the forum itself. Apparently, the token providers back it with equal reserves of gold at a gold treasury in Singapore. This is similar to the model that Tether says it follows. Whether you can trust it or not is a different question. What is clear is that these "reserve holders" are not really transparent and verifiable publicly. There is an inevitable central trusted party who says its worth that much. If you take their word then tokenization works. This centralization ensures that things like tokenized gold don't give the benefit that blockchains actually have, i.e. decentralization.

I think VR is still research and development, potential level of VR and Blockchain, i think is the same. And I feel that it can be used to combine with Blockchain. We have NFT in the industry, it's a combination that I find great, with NFT-like products combined with a practical approach, this is going to be a highlight of the combination of VR and Blockchain.

Have seen green energy fail over and over again even the concrete legit ones end up not getting interest at all I think it just doesnt work and valuation is not yet ready for that Maybe their will be that hype later just like DEFI but who know Personally i dont think so

This is really true and it's time most investors starts understanding this and protect their funds than jumping into any project that looks good to them hence getting scammed and so on. Starting with the first one, few years ago it was on the increase but yet nothing was gotten out of it, other than scams. As for AI, it was just too much and 99% of them, if not all were all scams. To make it worst, some might even add machine learning and AI, just to create more hype and yet it ends up becoming scams. Another is robots or robotics, as usual they claimed AI will be used, however I don't think there is any still working till today.
In addition, the one that has been coming up once in a while is that of gold backed tokens, although I won't say all was scams, but a very good number of them were all scams. So, looking at all this, it is good to overlook hype, study all these projects before investing and know if their use cases are achievable or not.

You are right. Most of those projects turned out to be scams. But this is not a reason to say that emerging technologies such as VR, AI, machine learning... are useless.
With the mass adoption of cryptocurencies, leveraging new technologies will be a must for every new project in order to succeed.
The problem with stable coins backed by gold, on the other hand, is the lack of transparency.

I agree on almost all of them. VR is not something that requires crypto, somethings may get better with blockchain tech or may not get better and would be useless, a blockchain tech in a VR system is not something we need, even VR systems are not needed all that much right now, they are just there and people are getting used to it, we are basically waiting the tech to improve to home standards with affordable prices. A.I. could work, but there is no real A.I. in the world, it is just machine learning and sure you can put machine learning into a blockchain system but just don't call it A.I. it makes people think of things like Jarvis from Iron man.

Green energy is a novelty idea that I hope would one day works but it doesn't right now, and gold backed ones are difficult to manage because of physical nature and international laws of it.

Honestly speaking I haven't seen a AI project that works, the last AI project I promoted was DAIN AI, this project has nothing to do with AI gadgets or robots like many other AI project, it's all about addressing and solving artificial intelligence problems, but yet this project is at a HALT right now, the issue isn't even funds, we just stop hearing anything from the team, no updates too.

I don't think you're completely wrong.
Most of the "it won't work" assumptions come from previous projects which were complete scams, especially the gold backed ones.
As for VR, i can actually see the use case, as the VR games develop, so will the need for ingame virtual currency that can be bridged to real world.

I wanna say that both were failed projects. Those didn't developed proper products. Basically, the green energy can be only implemented to subtitute the electricity that being used by the miners to mine crypto. You should see what has been doing by ognasty and that's a sense thing that can be done by replacing the electricity that used by the miners with renewable energy like solar panel.
I didn't see any good result from both of projects that you have mentioned above.

If you are into any AI project presently please kindly ask the team or dev for proves that they are actually building AI equipments or gadgets, it's same issue with gold backed tokens, I'm supporting the audience on this one mate, you need to do your own research first drop link to any AI project you are so sure about

I think you don't know what you are saying, how many AI projects make it to top 100 on coinmarketcap? If you are still seeing any new one that's functioning properly then wait, I'm pretty sure it won't last, all crypto projects that claimed they are into AI never had any AI equipments, they have no prove to show

disagree with the A.I (Artificial intelligence) Projects . There are many successful projects, including this industry is constantly gaining popularity. Why did you decide that this is a scam, maybe you just unsuccessfully dived into several projects.

I can't say you're wrong since it's really a waste of time to do something here in the crypto space that isn't really compatible with the current technology.

Though we can't say that it will never work because technology is being developed continuously even as we speak, so maybe it will not work now but it might work in the future. AI is getting traction nowadays so it'll we might see a breakthrough one of this days.

As for gold backed stablecoins, I agree that most are scams but there are some that is actually backed by real gold just like GOLD where you can see actually the certificate and the audit of the gold stored 24/7.

pos or dpos would fix this instantly

Blockchain is a technology, with its own special features and characteristics. There are a lot of projects that supposedly implement a breakthrough blockchain in which there is really no need except for a reason to raise money. When analyzing any project, you should always ask yourself a question - does this project and this problem need a solution in the form of blockchain technology or will it only get better without a blockchain?

To be honest I don't know when we are going to see virtual reality in full scale. They are still under emerging technology and combining it with a other emerging tech might be too far .
Same can be said about AI projects as well.
Gold backed projects are okay as long as they can prove that they have real gold to back it up.

For now we don't need VR and AI tech on blockchain, might be possible in the future but it's a no for now, every projects that use this use case had to quit because of lack of interest, not all of them are scammers, some even do refunding to the investors

i've seen so many projects before about AI and gold specifically in the signature of the users here but now i rarely see them. i'm not really into investment but do you mind giving some inputs why those wouldn't work? maybe the team behind doesn't really push towards it or maybe wrong application of it to the project?

Virtual reality is not a joke and it's same thing for artificial intelligence too but these things aren't compatible on blockchain just yet, they are something that works best in real world, those developers just used them to take advantage of deep crypto lovers that want these use case to work on blockchain and probably exposed the power of blockchain technology to the world.