I'm just asking because i've been in this space for about 7 years. Ive seen every sort of project promised, half build, failed and founders split with the money.
Other than the whole market being propped up by early bitcoin whales, has any crypto built a remotely useful project that has lasted more than five years and still functioning successfully?
Even on Hive which has some of the oldest crypto users, some of the best technology and a hardcore community of users and devs. We have splinterlands which is falling down a hill it might never climb back up from.
Communities which have died.
Games which have died.
Apps which have died.
Tokens which have died.
Users that have drifted away.
The same chain that we had 7 years ago when i joined with slightly better operating capacity and less users.
It's not exactly much progress in the better part of a decade.
Bitcoin holds value like gold but apart from the monetary value beside it there isn't much else to be interested in. Lightening payments are poor at best and barely accepted across the globe.
Even looking across the top 100 crypto tokens, what do we see.
12 stablecoins or derivatives.
6 memecoins.
7 gaming tokens.
7 exchange tokens.
That's 1/3 of the top 100 tokens. Of the rest solana is just a memecoin factory. Ethereum is full of nft's that are too expensive to actually do anything with. BNB has a little bit of both. XRP does nothing. ADA does nothing.
Apart from price speculation, second layer tokens, nft's and defi what has been accomplished over the past decade. Little to nothing.
Even on hive i thought that we would be able to build our own second layer communities by now. Run ads, grow our userbase and fund our own tokes taking dependance away form the big social media sites. Nothing. We almost had them with tribes, were promised them from multiple sources and even when LEO tried to built it themselves they jumped onto the next shiny thing before completing it.
It's a big problem in crypto and a house of cards waiting to fall. People keep putting money into tokens for the sole reason of making money which is not a sustainable business model. Not unless somebody starts building projects that can generate money on a regular basis.
It's hard to see where we go next from here with nothing being built and everybody expecting to get rich. It just a big gamble with everybody backing their horses and hoping that the get one big win to change their lives. For it to be an investment there would need to be an end product.
As more and more time goes by it's getting disheartening to see how little progress any eco-system has made to date. Any progress apart from creating more tokens on top of the tokens that we already have. I've picked my horses but unless we see change then it's just a gamble and not an investment.
Posted Using InLeo Alpha
#hive #posh
Seems to me that you are having a bad moment today 😂...
Honestly, I feel similarly to you sometimes, for me the only project that makes sense is Bitcoin, however, I think that projects like HIVE, with a product already running, can be considered an actual functional real use-case of blockchain too...what matters to me the most is our lack of visibility for the masses.
Perhaps we are still in an early age of this technology, in which the main reason to enter is the idea of getting rich quickly, will see.
Just a bit burnt from the whole scene.
The technology is good but nobody is building on it. Instead it's all get rich quick scams.
Hive is one of the exceptions but as other tokens pump people move away to find those riches and we go backwards.
It is still early and i'll be holding hive to the end but it would be great to see more progress.
We probably should realize that when someone who tries to build something serious and long-lasting sees where people put their funds and what goes up without questions asked only to crash back down, they may be a little bit discouraged too, to say the least.
If everybody who had started building on hive stuck here and finished their projects rather than leaving or chasing riches elsewhere we would have the best and most progressive eco-system in crypto.
All the infighting and low prices shook out some great people but with them we would be years ahead of now. Hopefully we can still get there.
I agree we lost some great people. And sometimes for stupid reasons or arguments.
Everything dies but if anything imaginary has a price of 60K or more I think even if it's bullshite it's an expensive bullshite. Either way I feel buy it, sell it, make money and pass on for next generation that should be the grand scheme. Top 2 tokens always have a power and holding few of them would get you settled in life.
I've made some money already so can't complain too much. It just hasn't gone in the direction that i would have thought or liked.
Sometimes we can get frustrated but that won't shake me out of hive anyway.
In for a penny, in for a pound, imo.
Hive still has all the potential that
steempromised us all those years ago.In fact, with vsc becoming less vaporware the rocket may be just getting fueled up.
I don't think BT would spend all that coding effort on something doomed to mediocrity.
Many of the things that needed polished are just now getting the rouge.
https://peakd.com/@ blocktrades/5th-update-of-2024-lite-hived-nodes-2nd-layer-plans-and-lots-more
Still the potential but haven't hit the progress that i would have wanted.
I did see the updates very soon after writing this post and it was good to see that BT seem to be moving in the right direction.
Maybe we see something in the next year to change the mindset and bring in fresh meat.
This is why you have to research and find the 1% crypto projects that have genuine real life use cases. These will stand on their own within the next 2-3 years.
I hope so.
IT's hard to see it right now but i've picked my horses in this game. It would just be great to see some progress and more aps and users flooding in that work.
Hmm
Well, you’ve got a point cos I’m thinking the other way round that crypto is doing better since a lot of people are adopting its usage
As for Hive and Splinterlands, I’m sure they will grow
!MEME