The Crypto Purge (Don't Be Afraid, It's Good News)

in bitcoin •  last year 

On today’s episode of The Cryptoverse…
Earn A Passive Income In Bitcoin 1:13
EOS 1:48
A Return To Meritocracy 3:25
ETCDEV Shuts Down 3:57
The Different Types Of Purge 5:31
The 3 Purge Categories 7:18
Final Point On Big Money Investors 10:05

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  ·  last year (edited)

I 100% agree with your analysis. To underscore the three purge phases, there's also probably a little nuance. So, the three phases were:

  1. Purge weakest team members
  2. Purge weakest development groups
  3. Purge weakest coins

From the outside looking in, it's possible to skip #1 until it's too late, in which case the company ends up purging not only weak team members, but also world-class team members.

It's an important nuance because if you use #1 as the rule, you'll miss an opportunity and identify #2 until it's too late.

To make this concrete, in order to protect STEEM, I would like to see a second (and even third) core development team. We think we've seen Purge #1, but are we really just seeing early signs of Purge #2?

It turns out we should have never relied on Steemit, Inc. for anything but core development, if that.

Note: I think Steemit, Inc. has a decent chance of pulling off a 180°. But I'd also love to see additional independent core teams pop up after all this turmoil.

Listen! They said a team of chess players coached by someone with no understanding of basketball would never be competitive in the NBA! Well, it turns out they're pretty perceptive.

The winter cycle always brings with it the freeze, which grips and weakens the lesser branches of the tree so they may break off, making the tree stronger in the spring.

The lion eats the weaker, slower gazelles so that the faster ones survive and evolve to get better over time.

The market needed a culling so that it could strengthen, shore up its infrastructure and prepare for the coming Spring.

Those who have been through winters before know how to prepare for them and even prosper.

Thanks CC. Since EOS making wise business moves, ill begin monitoring how they move hoping it would help in some way. CC the Christmas hat is crying out for a Cryptoverse emblem to be attached. I recommend placing it either on the ball or rim of the hat. There is a open source project called ECC who I watched go through the 3 phases you mentioned. Their coin is not valuable however they offer a necessary great product and continue to develop, establish partners and expand through the bad times. & I love it! perhaps you can check them out CC and let us know how you feel about it. I'm looking forward to the next video!

@marketingmonk, great funny comments!! But you need to improve your Spanish pronunciation. If you need a native teacher, I'm happy to help.

Slightly concerning but expected in this market really. If this was in the traditional markets, the exact same thing would happen. The projects that are going to win out are the ones with long runways!!!

The Purge is going on. It is still rewarding to watch your show, since you are not spreading FUD or Hopium but insights. Thanks.

Good news...finally!

Lol i've been saying the same thing for so long but no 'm crazy, 2017 shot crypto into the limelight and while speculatiev investors saw it as a get rich quick scheme so did many companies. Both parties hade their hands burned and thats the natural order of things, same with any gold rush thats been before!

I think this purge will go on for some time, we need to see a lot more consolidation, if i look at coin market cap there are quite a few projects listed not worth their listing or ticker symbol lol

Yeah, this 70% reduction in staff does worry me. I'm glad that I could buy a ton more STEEM if I wanted too, but the risk is steemit will die, and along with it the entire ecosystem.

That being said, I'll simply keep what I have for now and monitor as it continues. I'm still hopefull that it will recover.

Nice thoughts Chris.

This purge is something natural and expected. It's just not possible that all the companies would deliver what they promised to build, from all the ICOs that probably 1-5% will deliver on their promises.

Eliminating the non-competent companies and coins is definitely something I look forward to since it will quiet the noise and we will get a better ecosystem as a whole, converging and clearing the path to the big money as you call it.

Great information. You are on top of all this crypto world.

nice. do you see STEEEM as a regulatorily compliant project ?


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Also interesting to consider that the purge will also demonstrate which projects can become sustainable with decentralized communities supporting then which could lead to better adoption over time.

Posted using Partiko iOS

Agree with this. Nothing to be afraid of, just hold the coins you trust. The market will be bearish until the last month of 2018. The only thing we can do is to hodL (hold) or trade frequently with minimal losses. Just like those known traders say, you can win or loss on your every trades but what you have to learn is to keep your losses small. Good thing is that Cryptocurrencies.Ai free beta platform had launched, and using its Back-testing Optimization Tool you could realize how much money one could save in losses when we have a model which provides an indicator on when to invest and when to go in a stable coin. Try the beta platform now.
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