Why Do Some Cryptos Succeed While Others Fail?
In the crypto casino, some coins hit the jackpot while others vanish into digital oblivion. I dont even know how mant tokens have died since cryptos inception, yet $BTC and $ETH still shine. Their secrets? Might not be a well hidden secret at all, to some degree it has to do with trust and community. Bitcoin dont have a central organization leading its way, but that has also opened it up for a multi faucet groups to work wit $BTC and building products they think benefits both them and $BTC.
$BTC, born in 2009, thrives on a global army of believers. Miners, developers, and HODLers form a decentralized community that trusts its secure blockchain. No single leader calls the shots, so even when markets crash, faith in Bitcoin’s vision—freedom from centralized banks—endures. Compare that to OneCoin, a notorious 2015 scam. It lured millions with fake promises of “revolutionary” finance, but its leader, Ruja Ignatova, vanished with $4 billion. No real blockchain, no community—just gullible investors left holding worthless tokens.
Ethereum’s success also hinges on trust. Its open-source community of developers builds DeFi apps and NFTs, creating real-world value. Transparent updates, like the 2022 Merge to eco-friendly staking, keep users loyal.
But the important thing to now here is that a community driven projects doesnt always just make it a success, Hive is a great example. Hive is no way shape or form anything we should call a failed project, but many on here does have the opinion they thought this place would be much much larger and thriving than it is today.
One of the things I wanna point to is that even though its community driven, here there are stakeholder that have a lot more power what goes on and what direction we go to. This make some part of the community feeling they dont trust this place, they feel neglected and frankly they dont care if it goes good or bad. Because either way they are not a part of it, they feel.
What Inleo needs to understand to make this be te success it can be, is that community and trust is important. Takes a long time to build and it is so easy to destroy.
We have something here thats unqiue and special, so I encourage you all to think, how can I help to make this place a little better?
Every little thing helps.
(Image generated using Grok 😅)
Posted Using INLEO
Huge HP isn't the problem. It's how they use it. If it's for the good of the network, that's great. However, not everybody agrees on what is good for the network.
!BBH
!PIZZA
!LOLZ
$PIZZA slices delivered:
@kopiko-blanca(4/5) tipped @anderssinho
Come get MOONed!
Our community was more than double its size before a greedy bunch of top witnesses pulled the plug. That not only lost much of our original community but much trust, as well, the way wallets were manipulated and accounts removed via the purged fork from STEEM to HIVE. Who would trust their assets to that group of rogues ever again?
Soon after the fork both my HIVE and STEEM were powered down and shifted to ETH in the hope that they would do a better job with governance in their upcoming switch from PoW to PoS. In the following four years ETH did a 10x; yet no better job with governance it seemed to me.
My holdings were sold just before ETH's fall from grace last summer and Makina, my 36' floating condo, was purchased. Maybe a token of thanks is owed to those greedy witnesses for incentivising what may look like some genius financial wizardry. 😉
Instead they were choices made on the crypto principles of a long term HODLer.
That, in my opinion, is why HIVE is not "much much larger and thriving than it is today".
I really liked this comments, never seen you around before here but sounds like you have been around here for a long time and have seen the way Hive itself isits greatest enemy.
Great to hear you could attain something IRL with "magic internet money :)
Yeah the Dollar Vigilante suggested STEEM on a broadcast in 2016. Even with my strong disagreements about the fork it is the community that keeps me coming back. ✌️
@anderssinho, I paid out 0.337 HIVE and 0.073 HBD to reward 1 comments in this discussion thread.