RE: The Often Ignored Effects Of Crypto And Blockchain Technology

You are viewing a single comment's thread:

You're actually right. My choice of words were not correct. What i should have said was that it's not enough to be a good project anymore and that what the space needs is useful projects that are undeniably significant.

In that it can't be said there are no good projects in crypto. You got projects that do medical research. Decentralize super ai's from falling into the wrong hands. Provide economic stability for some countries etc.,

The problem is that the good projects in crypto aren't the ones at the top for the most part. The most part the projects at the top are based more on speculation than use. So the people who need to be using the crypto aren't using the crypto. That's similar to saying okay like 99.9% of the population uses fiat currencies. Only like 0.001% uses crypto .. something like that which then means that the use of crypto and the need for crypto isn't shining through demand wise for something the world needs to use. Some say well it hasn't been long enough. I don't think it's a matter of crypto hasn't been out long enough. I think it's a matter of people don't really find the use or need in crypto in their everyday lives and for it to be relevant to them and significant that needs to happen. It's not happening. So i haven't seen one project yet where that has or will happen. As far as i know.

The last part is most cryptos are just businesses that can't get funded any other way but crypto. So to me solving the problem of can we create businesses on the blockchain or economic opportunity doesn't mean anything. We've never had an issue creating businesses nor have we ever had an issue creating economic prosperity through speculation which is like what you get in penny stocks that's what i compare like 90% of crypto projects to. HIgh risk businesses that can't get funding anyplace else. if they could everyone would be throwing cash at them. So i guess that's the long form of what i'm trying to say. That if you were to ask people in everyday life did they use crypto today or do they feel the need to use it.. Do they have to use it? They'd probably all say no.

If the stockmarket went away today we'd witness something next to the apocalypse. If crypto went away today we'd carry on as is. So i think the real question is what are we doing to make crypto relevant enough in peoples lives. I think some of the universal basic income projects make sense. As there is a global shift to ubi in our political and socio-economics but there is no way to dispense it outside government hands. The other things on the blockchain don't really make sense. Because if i wanna prove i own a business on teh chain or a game. Which most people here talk about. Well even if i did prove that who would enforce it? So the main idea for me is not so much can you prove you own something on the chain but can you deliver economic prosperity across the globe even outside government hands if that govt is corrupt or a problem and in any idea of that it comes down to being a viable currency and useful one people and vendors and merchants wanna take. My final thought i think i would be correct in saying we don't have that at a significant level where i can go anyplace and use my bitcoin. So i think that's our hurdle and i think the crypto community needs more thought into why we use crypto and what we hope to do by using it. Which projects can realistically do that.

Posted Using LeoFinance Beta