Topic: We need apps not coins (Read 1370 times)
We are developing a blockchain binary options Dapp running on ethereum blockchain, seems not easy to build a 100% onchain Dapp right now, still need some offchain development.
May be everyone loves bitcoin and they want it to grow big in the future. The investment would be great if we look from the perspective of its technology currently. It is still new and may be investors are trying to fix it.
Happy to see we share many common thoughts.
I believe blockchain icos with no direct application for revenue generation should not be invested in.
Another post of mine is about the bad prospects i see. Clearly this rate of market growth is not sustainable, it will crash as most consumer apps are only ready in 2018. And then they will face the reality of competition!!
Like gambling site vs wagerr
Like amazon vs siacoin
Like azure vs golem
Like dcorp vs etoro
Like monaco vs visa
Like mozilla vs bat
Like apple pay vs litecoin/zcash/etc...
Like reddit vs steem
It is not easy to beat it when it comes to consumer adoption. We have proved just 1 case of application so far:
Like gold vs bitcoin
Others are dreams. We need to invest in proving them! And fast.
I believe blockchain icos with no direct application for revenue generation should not be invested in.
Another post of mine is about the bad prospects i see. Clearly this rate of market growth is not sustainable, it will crash as most consumer apps are only ready in 2018. And then they will face the reality of competition!!
Like gambling site vs wagerr
Like amazon vs siacoin
Like azure vs golem
Like dcorp vs etoro
Like monaco vs visa
Like mozilla vs bat
Like apple pay vs litecoin/zcash/etc...
Like reddit vs steem
It is not easy to beat it when it comes to consumer adoption. We have proved just 1 case of application so far:
Like gold vs bitcoin
Others are dreams. We need to invest in proving them! And fast.
Why is all the investment going into more blockchains?
We need more consumer focused applications to create the ecosystem. Having so many new blockchains is like having multiple internet / phone lines at home.
In contrast, we need applications like smart tv, netflix, spotify, web browsers...
If we put all the money into infrastructure and not in apps, this will inplode like the fiberoptic investments 20 years ago, that no telco made any money with.
How do we incentivize programmers to go program apps instead of another coin?
We need more consumer focused applications to create the ecosystem. Having so many new blockchains is like having multiple internet / phone lines at home.
In contrast, we need applications like smart tv, netflix, spotify, web browsers...
If we put all the money into infrastructure and not in apps, this will inplode like the fiberoptic investments 20 years ago, that no telco made any money with.
How do we incentivize programmers to go program apps instead of another coin?
Your argument is very much valid as we already have enough number of coins that have come and go and even several that are listed in several exchange sites across the internet while some are still even coming out on a daily basis. However, I would appreciate if all the coins by developers is geared towards creation of problem solving projects like Solar energy for third world countries, affordable internet, sewage recycling among other projects rather than just focusing only on the pumps and dumps on the exchange sites.
Because the base coin everything is being built on i.e. Bitcoin and Etherereum are flawed systems. Thats why Xtrabytes with its 51% attack proof, infinite scalability etc is what future apps will be built on due to its modular system that is designed to be built upon. You don't build your house on sand...
Bitcoin not giving a lot of needs by people that is why there are many ICO's and altcoin out there just to fill the shortage use by people in bitcoin..
And op had a good point much better to developer make a new apps to use the coin instead more developing they are adding more coins..
You know they are just fooling other people to invest just to get the money it is just like the same as investment scheme..
And op had a good point much better to developer make a new apps to use the coin instead more developing they are adding more coins..
You know they are just fooling other people to invest just to get the money it is just like the same as investment scheme..
I think there is still a lack of ideas for new, sustainable, and lucrative business models that can utilize the blockchain. A lot of people in this thread are agreeing with the sentiment that it should be about apps and not coins, but I haven't heard many actual ideas for those apps.
I agree with you, we need new applications from all kind of businesses using blockchain tech instead of meaningless ico projects.
I also agree with you, because that indeed we need is a new application for all types of businesses to use technology blockchain because its users more easily and safely but should there really special safeguards if used for doing business should only to store only
Is true,there are too many coins today but I do not think its are going to diminish soon,for some reason devs continue to draw new coins everyday.
ICOs are good for the community if they are done legitimately. Helps replace stocks/reduce regulations for companies, verifiable/transferable/accessible tokens that represent ownership AKA allowing everything to be "digitized".
Problem is all the excessive hype though..
Problem is all the excessive hype though..
I agree with you, we need new applications from all kind of businesses using blockchain tech instead of meaningless ico projects.
Why is all the investment going into more blockchains?
We need more consumer focused applications to create the ecosystem. Having so many new blockchains is like having multiple internet / phone lines at home.
In contrast, we need applications like smart tv, netflix, spotify, web browsers...
If we put all the money into infrastructure and not in apps, this will inplode like the fiberoptic investments 20 years ago, that no telco made any money with.
How do we incentivize programmers to go program apps instead of another coin?
We need more consumer focused applications to create the ecosystem. Having so many new blockchains is like having multiple internet / phone lines at home.
In contrast, we need applications like smart tv, netflix, spotify, web browsers...
If we put all the money into infrastructure and not in apps, this will inplode like the fiberoptic investments 20 years ago, that no telco made any money with.
How do we incentivize programmers to go program apps instead of another coin?
I totally agree more apps is what we need especially like brave browser, BAT promising us clean web not commercial fights.
People should develop senses about future of eco system its also investors responsibility to lead future.
After the ICO fiascos that totally bogged down a popular network the difficulty in developing apps on a decentralized network should be self evident. If a single ICO can cause such problems, imagine what a single popular app used 24/7 would do to a decentralized network. Or even several popular apps. The network would not be able to keep up, the apps would become useless and people would move on to something that works.
The fantasy of a "world super computer" capable of running 1000s of DAPPS, running smart contracts for banks and acting as a currency should be delegated to history. It's absurd to expect a public chain to do that.
The fantasy of a "world super computer" capable of running 1000s of DAPPS, running smart contracts for banks and acting as a currency should be delegated to history. It's absurd to expect a public chain to do that.
Spot on. Their simply isn't the infrastructure to build complex apps upon as yet.
And the larger A block chain is, the more centralized it becomes.
Quantum computing might be an answer, but thats 20 years away at least.
If there's money to be made in apps, the the smart computer people will do that instead of flooding the market with stupid ICO scam coins. Til then we can expect more of the same. I agree that we don't need more coins--that should be obvious to anyone with half a brain, but right now we're still in the get-rich-quick stage. Merchant acceptance would help a lot of this.
If there's money to be made in apps, the the smart computer people will do that instead of flooding the market with stupid ICO scam coins. Til then we can expect more of the same. I agree that we don't need more coins--that should be obvious to anyone with half a brain, but right now we're still in the get-rich-quick stage. Merchant acceptance would help a lot of this.
Why is all the investment going into more blockchains?
We need more consumer focused applications to create the ecosystem. Having so many new blockchains is like having multiple internet / phone lines at home.
In contrast, we need applications like smart tv, netflix, spotify, web browsers...
If we put all the money into infrastructure and not in apps, this will inplode like the fiberoptic investments 20 years ago, that no telco made any money with.
How do we incentivize programmers to go program apps instead of another coin?
We need more consumer focused applications to create the ecosystem. Having so many new blockchains is like having multiple internet / phone lines at home.
In contrast, we need applications like smart tv, netflix, spotify, web browsers...
If we put all the money into infrastructure and not in apps, this will inplode like the fiberoptic investments 20 years ago, that no telco made any money with.
How do we incentivize programmers to go program apps instead of another coin?
Because the apps don't make these scammers instant millionaire.
Creating an app you won't become a millionaire instantly, that's true, but if many people will find your app useful you can become one in several months. Also I don't think that all the creators of sh*tcoins became rich from that, many people lost their money failing to attract enough buyers for their coins. So in my opinion OP is absolutely right, it's better to invest your money in creation of a useful app rather than in creation of a useless coin.
Most of the ICO have promised real life application built on blockchain like encrypted VOIP, decentralized storage, decentralized music and app platform etc but it might require few more years to see them in action. I am quite sure some of such projects might get successful and can deliver what they have promised because they have collected millions of USD in crowdfunding.
Why is all the investment going into more blockchains?
We need more consumer focused applications to create the ecosystem. Having so many new blockchains is like having multiple internet / phone lines at home.
In contrast, we need applications like smart tv, netflix, spotify, web browsers...
If we put all the money into infrastructure and not in apps, this will inplode like the fiberoptic investments 20 years ago, that no telco made any money with.
How do we incentivize programmers to go program apps instead of another coin?
We need more consumer focused applications to create the ecosystem. Having so many new blockchains is like having multiple internet / phone lines at home.
In contrast, we need applications like smart tv, netflix, spotify, web browsers...
If we put all the money into infrastructure and not in apps, this will inplode like the fiberoptic investments 20 years ago, that no telco made any money with.
How do we incentivize programmers to go program apps instead of another coin?
When I think of a coin that solves a real-world problem, immediately I think of XRP.
Sorry. Time for the haters to come out I suppose.
I think ICO are the biggest ass in the pain if we look at their smart contracts. Everybody of them are just speaking about contracts based on blockchain and stuff like that. This has led to investors to put their money blockchain and not the development of external resources. It's like everybody is putting their money on developing central processing unit but they don't know that there is nothing much to operate with central processing unit. I think there should be awareness about this to make it actually smart about it.
We need to let some of these ICO's move past the "Selling" phase to the "Showing Tech".
Right now it's all too conceptual so it's easy for new ideas to keep coming.
Once these tokens start actually getting used many people will understand the difference between a theoretical token and one that actually can be used on a dapp.
Right now it's all too conceptual so it's easy for new ideas to keep coming.
Once these tokens start actually getting used many people will understand the difference between a theoretical token and one that actually can be used on a dapp.
But it's much easier to sell a concept than actual tech! :p
We'll see little chance until people stop throwing money at vaporware. There I was thinking Silicon Valley startups are overvalued.
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