Has the cryptospace become depressing?
Anyone here who also thinks that the cryptospace has become quite depressing?
The idealists are quickly crowded out by those who are merely chasing quick profits. All they do is brag about how much they earn, and how smart they are for investing in something that gave a good return.
To me, blockchain and cryptocurrencies had always been about creating a more peaceful world. To release man from his self-incurred tutelage. To show that he is capable of living without centralized control from governments, banks, and other legacy institutions.
People who only enter the space for monetary profits are so blind. We are on a course to change the world, to make the government more obsolete, and the world a much more peaceful place.
Hear, hear! It looks like crypto currencies are sucumbing to their own success. The profit hunters are mostly not aware of the higher goals sought after by the initial proponents of crypto currency. The crypto space seems to have been filled with those how value quick (financial) gains over long term revolutionary restructuring of society as a whole. However don’t be fooled by the power of the masses. As even those with non purist libertarian ideas, can be part of a larger reinvention of social structures without full sentience thereof 😁.
Let’s hope the contemporary indulgence in crypto currencies will eventually lead to a wave of enlightenment.
Don't let speculators and profit seekers depress you friend! They are a a necessary part of the environment and essential for growth. The only reason crypto has gained the traction it has is because of the eye watering profits some have achieved from this sphere, often accidentally. This is healthy, and I'm certain, as the field matures, volatility in the markets will decrease and this is when the investors will be rewarded in humanitarian and monetary terms. We need the speculators to crash the exchanges, so that upgrades can be made, clog the networks - so we know how to scale efficiently. Think of the profiteers and speculators are essentially battle testing the entire sphere as a whole. If you look deep, you'll find that even btc gets is value from two avenues (i) utility and (ii) speculation. Todays, the main use of btc seems to be speculation, and that's perfectly all right, 'coz use is use. It's a bit like a snake eating it's own tail. An oroboris. Every yin needs it's yang. So yes, you're absolutely right ' As even those with non purist libertarian ideas, can be part of a larger reinvention of social structures without full sentience thereof'!
I entirely agree with you. The profits are also bringing in a lot of new money that is funding crypto projects.
But nonetheless, I find it depressing to see that very few try to understand Blockchain technology and to understand how disruptive it is.
Steemit has been an uplifting place for me, but I am a total newbie. I also do not have much money in crypto at all. Life has taught me to stay on the bright side.
Welcome to Steemit, and to crypto. I'm sure this community will treat you kindly. :)
Cheers @chhaylin
Yeah! Welcome! Read, watch, learn, and you'll feel well-versed in all of it soon enough. :)
@chrismccron I originally had a bad attitude about crypto because I did not understand it, but after really considering my attitude I decided to change and began watching lots of videos without judging. Then, one of the videos mentioned Steemit passingly, I googled it and signed up that day.
It is great to know I am earning shares of STEEM just being here and being involved, but there is still much to learn and I enjoy a good challenge.
Best wishes for you in 2018.
I have been thinking about this a lot. I will confess, I have been philosophically inspired by the cryptospace, but I also have acted opportunistically at times. I think the merits of decentralization in many areas (such as energy) could be a great thing. I can certainly appreciate why cryptocurrencies matter, but I also can be seduced by pretty graphs.
Perhaps, this happens in all movements? There are a core group of purists that are really the torch bearers, and then there are these posers or hipsters or opportunists that glom onto the movement? I am not sure.
One way or another, I do find my own opportunism slightly unsettling, because I know the backbone behind this movement is real change.
I assume you saw that Vitalik threatened to leave the cryptospace if people didn't grow up a bit and get back to the roots of the movement? You're obviously not alone in this frustration!
Thank you for taking time to leave such an elaborate and honest comment. I think you are right that this happens in all movements. The core message gets diluted the more it is spread among the masses.
Your assumption that I read Vitalik's comments is correct. Thank you for sharing this with me again. :)
You're most welcome! I look forward to reading more from you. It looks like you're very deep into the world of cryptocurrency, so I will have to follow your adventures closely!
Thank you for following me! : )
Absolutely! I was happy to. I had a scroll through some of your content and saw a lot of interesting things about the cryptospace. Also, your tagline was very intriguing.
Anyways, I am very glad you noticed. I look forward to more content and conversations with you.
Later or soon these people will open their eyes! and cryptocurrencies will be leading the market in a near future!
When that happen, the world will start to change
Yup! You cannot put it back into Pandora's box.
This is why I love the cryptocurrency Gridcoin! It promotes Science and Mathematics through BOINC. Most of the Gridcoin community aren't in it for the money, rather they see it as a bonus for helping scientist and mathematicians.
Community Places for Gridcoin:
Gridcoin on Steem
Gridcoin on Reddit
Gridcoin on Cryptocurrency Talk
Informative:
One Gridcoin Website
Another Cool Gridcoin Website
thank you, I will look into it.
For me it's not depressing but I wish people were more conscious of the idealsim of cryptos. People however chase money and most can care less about idealism.
For us who are idealists. Stay steady and keep promoting that side and perspective of cryptos. Some will get it, others won't.
People NEED to understand that cryptos are a powerful tool to hopefully facilitate change at a deeper level.
I'd say it like this. It's about the money, but it ain't about the money.
I will just do that despite feeling somewhat depressed by the money-chasers who don't care about the idealism of cryptos. :)
It is depressing at times. For I look at what I have and it's not much but I have shelter, food, an internet connection. It does seem unsettling the thirst for wealth and the people believe it will come so easily. I had not thought people could be so naive but then I'm an idealist.
What is most unsettling is when people are making money because of things they don't want to understand.
@chhaylin I see it in a Positive Way , chasing quick profits , Pump & Dump .. massive Profit , This Make More more People know about Cryptocurrency indirect way Lot Of People joining Crypto Daily For This They Heard about there friends Make Big Profits ... , But In The near Future I think Only Great Project Will Survive & There Are Many Great Project Will Change The World .. For Now everything is In a mess
Yes, I agree @davinshi! :)
What is wrong with people seeking monetary gains from being the early investors in a potentially game breaking technology? Cryptocurrency needs fiat to survive at the mean time to transition to mass adoption. Also, the teams working on these projects still need to make a living.
Seeking monetary gains per se is not wrong. It's just annoying to see people invest, but don't try to understand the technology and the philosophy behind projects. I am happy that, although they do this, so many projects can be financed.
The blockchain has huge potential for positive results through decentralization etc.
Unfortunately, many coins and tokens are taking advantage of the current speculative bubble by creating crappy ideas, forking for no reason, and pump and dumps. The only way this will get resolved is through a monumental CRASH. Once all crappy coins are purged through a correction, then the winning ideas based on the true benefits of blockchain will emerge. It's just like all the crappy Internet companies of 1999 and 2000 got expelled and many great solutions emerged that we now all use everyday.
:) Love what you're saying there.