Topic: Some things will never work in crypto world (Read 478 times)

Yes, I agree with you, and I have seen such projects in the past years that make their tokens backed by gold, projects that have a green energy blockchain, and medical projects and ended up in failure or scam, competition is strong between projects in the cryptocurrency in order to get investors witch need an innovative idea compatible with the blockchain and the tokens must have a real use on it, and most of the projects that have a strange, incomprehensible, or innovative idea and have nothing to do with the blockchain are only for the sake of attracting and deceiving investors, nothing more.

1,2 and 3 projects in this category that I know end up abandon the project or run away with the investors money. Green energy is the most hilarious of them all. I literarily think non of them actually need a blockchain technology before they can develop a artificial intelligent project but most of them are just looking for a way to create a token to be sold to investors. Going for IPO would have been better

You got it all right! There are lots of key areas which are totally irrelevant here on crypto or doesnt really need up or its  just too complex for it to be implied nor being created.
This is why we should really be get blinded with those flowery words that had been said on their whitepaper and promising out things which arent actually to happen
or not really that realistic to be applied in real life usage.Its expected that these are bound to fail almost 100% thats why its shit that you would consider out
on putting up some funds nor support these projects which arent actually needed at all.

I do agree with your point, Crypto is technology dominate and if the idea is not around finance I believe the project will find it had to survive, just look at all those projects in 2017/2018 promising all these fancy idea, most are dead in the water. Augmented reality was hyped then, the project is dead now. I thin some of them just come for the money, once the raise their money through ICO, they move on to something else. So be careful what you invest into

There are much more stuff in the crypto world that looks like it could be used and you could technically implement it if you want to but will not work because the sector is not ready for changes like that.

For example, scouting in sports world tried to have many blockchain projects and in the end none of them works because in order for it to work you do not have to only convince investors and users but you also have to get interest from scouts all around the world as well.

Is the idea itself bad? Of course it is not, you have a blockchain and try to put every single player in there from young ages to veteran retiring age, every player in one blockchain, that is a good idea, but who will do that? That is the hard part. So, not even things that could technically happen could be loved and used.

VR is a good market with still a lot of market to expand. Most of the project asking ICO funds for VR technology were scam don't mean any project won't work. AI on the other hand is a much more complex business and is not an independent business of it's own. AI is a side research for other established technology. Though blockchain technology would be much more useful on mastering and using AI technology. Blockchain technology would be useful for almost every tech and information based business but it doesn't mean they need to have a crypto for every of them.

I think this is where some project developers fail, they are unable to recognise the type of niche that really need to be toknenize, just like what the op have said, not all field can work in blockchain as of now,  A I is a very complicated field that will not be easy to toknenize, it is better to choose what work and what people can benefit from not dream that is not achievable.

The only thing that crypto is useful for is payment transactions, mining, finance, etc not some advanced robotics competition, it's never going to work to begin with, I'm not saying AI is not good but it's not a must to exist in crypto space

The belief that AI can be realized is harmful. If the power of technology is overestimated and human skills are underestimated, the result will in many cases be that we replace something that works well with something that is inferior.

What i know is that everything is possible. Developers can choose to apply data on the blockchain to predict the market. it is possible. the aspect of visual reality is what i don't think will be possible. in the Area of artificial intelligence. i think it is possible and people can make prediction and evaluation using data gathered on the blockchain.

Promising but not needed. Nice to have but no one is demanding it much I would say. All the AI blockchain projects I've seen? Liked the idea, even loved the idea of some but implementation is always severely disappointing for me, to the point I've swore of any type of AI blockchain project by now. It's just not the right time yet for consumer applications like this.

Let's not mislead others, many AI and VR projects have good teams but they never knew that there won't be much interest on this use cases, they had to give a try and see how things work out for them, if things don't go as plan they have to quit and switch to other use cases. This doesn't mean they are complete scammers

For the scamer there is no end. The concept of new endeavors is always born that can attract potential investors and participants by giving birth to new projects that look good and attractive. at least the picture you mentioned above is true and happens.

The vision is great but actual implementation is hard as it will not be a hit among the masses. Only few can afford this technology so if the project is not that strong and no solid backing, they will just abandon the project as they can't get sufficient number of clients. That's why a lot of VR or AI-related projects here are not moving forward, because of the fact that they can't get much interest from the community.

Virtual reality and AI are very promising use cases, I guess blockchain don't get need them for now, I have high hopes for these use cases but it seems blockchain isn't there right haven, the projects that works better in crypto world are financial projects, gambling projects and payment solution projects

A company that immerses itself in the crypto space does not necessarily mean that its products are implemented with blockchain technology. Their only reason is marketing, an effort to attract investors from the crypto space which is easier and less limited to certain people. There are indeed some projects that are forcing themselves to implement blockchain technology even though they are unnecessary and unrelated just to be attractive to crypto users. If their product or service is useless, what they are offering is in reality unattractive.

the only ones that were successful were the gambling projects, exchanges and means of payment. the rest is just a shit project. AI or VR is just a concept scammers use to raise money. from the beginning I also never believed in a project like this. Moreover, a project backed by gold can never be realized. but strangely there are still many people who wish a project like this a success and the platform is operational.

I remember a AI project that said there will be robots serving as a bartenders, c'mon how is this even possible? I knew big companies that are into robots ai but they have zero interest in blockchain for now, every AI crypto projects are bunch of liars that have nothing to do with Artificial intelligence, we need to look very well before leaping

Green projects should be backed and supported by the government to make it successful, as there are in needs to plan that are related to government positions. In terms of other projects there are too many alike projects that exist with them so only few became successful even real estates projects that are popular during ICO days in 2017 are not able to be too successful in these days.

Many project developer wants to make something different, in order to attract investors. Even though not all ideas can be
implemented successfully, The 4 project ideas in the opening post must be avoided at this time. Since it won't work in
the crypto world anytime soon, only scammers will use it. So be careful if you find projects with 4 ideas that have been
mentioned.

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.

Beware of any crypto use case that isn't into financial or economical ideas, I believe this is the real purpose of crypto, we've been fooled in the past with different use cases that we actually thought would work because of how they are introduced, I really believed that in them because I want the use cases to work, but later I realized that those use cases are better in the real world not online

First, I want to express my thoughts on the cryptocurrency market. I've always assumed that anything can work successfully in crypto world if you find out how it works.


I do not want to challenge your sharing, but currently the two areas are still developing and cannot say anything about these areas. I've seen a lot of controversy about the use of VR, AI in Blockchain, everything has nothing to say about anything.

Here are the article links I found:
1. https://www.forbes.com/sites/forbestechcouncil/2020/07/23/why-we-shouldnt-have-ai-without-blockchain/#329fe29c4c4e
2. https://cointelegraph.com/magazine/2020/03/30/virtual-reality-blockchain-economics-permanence-and-scarcity#:~:text=Beyond%20economics%3A%20Trust%2C%20permanence%20and,virtual%20reality%20without%20fully%20immersing.


It may not be easy to see energy projects for blockchain, but if the project is there, I see them all working quite clearly on me also see the potential for this industry.

Here I have 2 names that will give you a more perspective on the industry in blockchain:
1. WePower
2. Energy Web Token

scammers like to ask money using these futuristic use cases. Targeting these new applications doesn't mean that generally we will never seen something really working. Likewise A.I or VR Projects, in a rudimental way the first applications are growing in real world, it seems now too early but in a short matter of times they can literally explode and become something very common in our day life.

How about give us some reasons first why it will not work? If the intention of the team are just to scam investors, then even if the project has the potential to grow in the market, it would still fail as scammers will scam, that's how it work.

Scammers already realized that these ideas are not going to work anymore to loot Money from people that is why they are inventing new ideas like DeFi to make people to invest on their projects and will keep repeating the loot process.

You have a good point, and thing is many developers have tried numerous use cases, and many others are still reincarnating the very failed use case, all just to scam investors, if you research into these examples in the op, you'll find out that quite a lot of devs have worked on projects like that and failed/scammed their community of investors, why then are other devs still trying out the same very use case for their projects, it's just an indication they want to take money from users who will invest in the hype they'll create at first, and investors fancy hype quite a lot from what I know.

I'd prefer if devs in the altcoin network stop with the many redundant use cases/projects, and actually focus on something that can really work, something the network actually needs and will stay for the long term, not just projects that give returns on the short term.

A.I projects are click bait that being used by the scammers to attract the investors. Remember when there are so many investors who can't do a proper research to know the possibility for such idea to be implemented or combined with blockchain. that's a garbage idea that will become a real thing.
VR was also a non sense idea that will never work.
Blockchain will be very useful only when it comes to the economic and financial system. I do agree with all of your stataments above.

Don't even talk about those Artificial intelligence projects, I'm glad we don't see new A. I projects anymore today, there are many in 2018 and 2019 but no single one end up right 

The same thing with those gold tokens, they aren't backed by anything but empty words, I'm sure people are fully aware of this deceitful use case, thanks for sharing lol

There are some useless or not actually needed use cases in crypto space that will never work anytime sooner in crypto world, few project developers actually thought they can make them work but they are wrong.

1. VR (Virtual Reality) projects
2. A.I (Artificial intelligence) Projects
3. Green energy Blockchain projects ( probably built to extort money)
4. Gold backed tokens (two to three works but majority are scam)

If you think I'm wrong please give your reasons