Cryptocurrencies: It seems as weird as it getssteemCreated with Sketch.

in cryptocurrency •  last year  (edited)

More than 1,000 crypto projects are reportedly 'already dead.' I just can't grasp what's really going on.

More than a thousand of crypto projects are “already dead” as of June 30, 2018, according to a recent TechCrunch report. The news outlet has based its claim on data from two websites: Coinopsy and DeadCoins.

Coinopsy provides daily reviews of various cryptocurrencies, including ones that are already “dead.” It defines a “dead” token as exhibiting at least one of the following: “abandoned, scammed, website dead, no nodes, wallet issues, no social updates, low volume or developers have walked away from the project.”

TechCrunch: Over 1000 Crypto Projects Are Considered ‘Dead’ Now, Cointelegraph, very recently.

Is it just because of temporary problems: technical, funding, market (or supply/demand), human resources? Rather, structural or configurational ones?

Has anybody checked the following assessment done in 2016? I can't fully understand this, either. But it seems to have something that rings true:

( ... ... ) you can’t govern something that doesn’t exist. Cryptocurrencies are having crises of governance  ( ... ... ) Any system that can’t regulate itself dies. If it can’t respond, adapt, or evolve, it’s dead.

In computer science, an ontology describes what EXISTS in a system. For example, In Bitcoin ( ... ... ) Notice no people in that ontology. They don’t exist. With no people, there are no relationships, no communication, no interconnection, no community. How can a community that doesn’t exist regulate itself?

You can’t govern something that isn’t a thing, that is just a concept. It should also be clear, that something that exists only as a concept, certainly can’t govern itself either. It can’t take actions or make decisions. ... Until people and community, along with the information flows required for that community to see its own patterns and issues are actually built into the functional ontology of cryptocurrencies, they can’t solve the problem of governance and collective self-regulation.

Arthur Brock, Cryptocurrencies are dead: they just don't know it yet, Medium, 2016.

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