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Why do so many cryptocurrency projects seem so meta? Platforms for creating platforms, coins for creating coins.
by emmab 9y ago
Why do so many cryptocurrency projects seem so meta?
Platforms for creating platforms, coins for creating coins.
- distrill 9y agoBecause that's where the money will be. Being a piece of the infrastructure means you don't have to care about how particular coins are behaving, as long as the market as a whole is moving up so are you.
- curiousgal 9y agoI just googled it and the description says The Bancor protocol enables built-in price discovery and a liquidity mechanism for tokens on smart contract blockchains Talk about buzzwords and mumbo jumbo.
- tradersam 9y agoIt's an over-technical way to say they don't really do much.
- scottlocklin 9y agoIt's pretty standard finance bilge that means "auction."
- hcarvalhoalves 9y agoThe new derivatives.
- jononor 9y agoEasier to sell to people trying to make a quick buck than doing something concrete that is directly useful. Why sell even shovels directly at the goldrush when you can manufacture the shovels...
- vkou 9y agoOr write a whitepaper about how you will build a factory that will build factories to manufacture shovels. I'm, ah, seeking investors.
- sebleon 9y agoOr building GPU chips that accelerate deep learning algorithms that write white papers about how you will build a factory that will build factories to manufacture shovels. Investors: I’ll accept check, btc, or pepecoin.
- EGreg 9y agoA whitepaper for an ICO to raise money for an AI to write whitepapers to raise money in ICO :)
- the_stc 9y agoThis is accurate. My startup is blockchain funded, but we have a serious money-making business model. But some people still want the sexy smart contract tech decentralized sound clips to get really hyped. People give us a hard time because our core team is anonymous (key part of being an extrajurisdictional company). It's a fair criticism! And the most obvious. Bancor had a bunch of smiling faces making up their top team. Does not help investors at all.
- emmab 9y ago> This is accurate. My startup is blockchain funded, but we have a serious money-making business model. But some people still want the sexy smart contract tech decentralized sound clips to get really hyped. Attracting people to invest in your venture who don't actually have a reasonable capability to determine whether it's a good idea is unethical. If the "sexy smart contract tech" is a compromise to convince your investors to invest in your startup which they would already have been interested in that's one thing. But it's unethical to convince them to invest solely on the basis of an aspect of your business plan which you yourself do not believe in.
- the_stc 9y agoExactly! We do not play that game. We're clear that our app uses traditional tech and isn't some magic dApp fairy dust.
- koolba 9y agoThe same reason casinos use chips instead of cash.
- 55555 9y agoBecause when you think hard enough about it, you can basically only build 'derivative' projects unless you want to use oracles/third party data. Smart contracts are a meme.