STINC Has Already Gone Bankrupt by Dot-Com StandardssteemCreated with Sketch.

in #dot-com5 years ago (edited)


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The FUD monsters continue to hammer a square peg into a round hole. In this I-told-you-so phase all of the blockchain bears are looking to confirm that the crypto bubble mimics the Dot Com bubble exactly. This is very easy to do when you ignore the facts.

Fact One

Cryptocurrency has already crashed harder and faster than Dot Com ever did, and it's happened multiple times. How many development teams have gone under? Less than a dozen out of over 2000 blockchains. So far, every dev team that's taken a hit ended up that way because they gambled on the market. Everyone who played it safe is doing just fine.

Also, how many Dot Com companies had the option of laying off 70% of their employees while still managing to stay in business? Literally none of them. This 'survival-mode' option Ned is employing does not exist in the world of traditional capitalism. Stinc doesn't have a product they need to physically ship. They don't need human resources or marketing or salesmen or logistics or accountants or quality assurance or low-level management or receptionists or unskilled labor. The core of Stinc is a development team. Everything else is ancillary.

Fact Two

Just because a development team goes bankrupt doesn't mean a blockchain will disappear. The development team is only a small part of a cryptomunity. Blocks continue to be produced even if development halts. This fact is evidenced on a daily basis. Our blockchain isn't being modified 99.9% of the time.

Where would we be if Stinc went bankrupt before HF20? What about HF19 or HF18? I speculate that we'd be pretty much in the same boat we're in now. Not much has changed. Development is a brutally slow process.

When a development team abandons ship it's up to the community to pick up the pieces. There are a lot of talented developers here that have zero affiliation with Stinc that will continue on here through thick and thin. When I see that 200,000,000 coins are still powered up I feel that's a very strong statement being implied. The vast majority on this platform want to see it succeed and is willing to stake their money on it. The perceived fickle value of the market cap can be drastically altered up or down by a single whale.

Crypto is zero-risk

We exist on borrowed time operating in an economy leveraged up to our ears in debt. The imbalance we've created is so tenuous that it could cascade into disaster at any moment due to a series of unfortunate events. Humanity is currently a life-threatening cancer to Mother Earth. If this cancer isn't cured there will almost certainly be a massive purge of life worldwide.

Humanity has proven time and time again that absolute power corrupts absolutely. This leaves us with one option: to create transparent systems of governance where no one is in charge. Cryptocurrency is the path of least resistance to this basic necessity.

From my point of view, this is a no-brainer. We can either work toward curing the cancer of centralized corruption, or we can fight for life in a post-apocalyptic hellscape.

Conclusion

It's time to stop worrying if your money is going to turn into more money. Try worrying about something more important, like how much terrorism you're supporting by paying your taxes or by paying that 1% fee at the bank or that 20% fee on your credit card. Try worrying about the propaganda machine that twists it around and convinces the majority of the population that it's actually buying weed and cryptocurrency that's causing all that terrorism.

Worry about how they use racism as a weaponized distraction. Who's fault is it that you lost your job? The corporation that outsourced a million jobs in order to make 2% more on the bottom line? Or that brown guy who crossed the border illegally?

Worry about the plastic continent or the pollution that gets rained down on everyone daily. Worry about how the law incentivizes this reality that we've created for ourselves. Everyone should take a look around and realize how small they are from time to time. We could all use a little more perspective. Be a part of something greater than yourself.

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I think a lot of the fear (based on my own) is from wondering where all of these independent developers were these years since Steem came about. It is frightening to think with all of this talk of decentralization all the top cats were focused mostly on playing and relying on Steemit.inc for their nodes and to handle everything. It makes one wonder who is ignorant like myself how many here with knowledge really believe in decentralizing or are here pretending as they milk for all shes got.

I am hopeful that the tokens FTG is releasing will answer that part, but I am actually more concerned with who is going to step up and create these nodes independent of Stinc. As long as the apps rely on theirs, they are dependent on their well being to function.

I wanted to reiterate, I really appreciate your post themes. They are presented in such a way that those without understanding like myself can understand some of this. I know people and human nature, coding and such not so much. I especially like how you have studied the economy here. I have never made the attempt due to their using 3 different economies. Genius that you figured out the interplay between them in a way I don't think many higher holders have.

nice! resteem. cryptosystems are way more robust than (dot-com-)firms. But there is still a high degree of interdependence especialy when one is in a pre-global-scaling phase. The step towards fighting the scale-ability trilemma and other non-trivial problems does not need only some devs, but highly gifted individuals. Plus the sensitivity of the non-rational speculator towards every signal. It would be rational to ignore all the FUD but social systems are prone to self-reinforcing feedbacks generated by non rational agents. But still as you said: we are the most fucking robust version of a social system out there.

thanks leugenbaron for sharing this article

you're welcome :)

It's time to stop worrying if your money is going to turn into more money. Try worrying about something more important, like how much terrorism you're supporting by paying your taxes or by paying that 1% fee at the bank or that 20% fee on your credit card. Try worrying about the propaganda machine that twists it around and convinces the majority of the population that it's actually buying weed and cryptocurrency that's causing all that terrorism.

Preach!

Money laundering is only illegal if "mom and pop" organizations do it to conceal the fact that they're being a bit shady -- and they'll send their asses to prison forever. Totally fine if you're a multi-billion dollar bank like HSBC -- and they only get fines that are an order of magnitude smaller than what they've stolen.

We can either work toward curing the cancer of centralized corruption, or we can fight for life in a post-apocalyptic hellscape.

Universal basic income or Mad Max, choose one.

Great post, there isn’t any appropriate growth without pains and difficult times, no matter the industry. There are lots of people on here doing excellent work outside of STinc.

This post has been included in today's SOS Daily News - a digest of all you need to know about the State of Steem.



With the spread of the Yellow jacket protests across Europe. Which incidentally isnt being covered by MSM.
I think the change is closer than we think. We could all be using steem sooner than we might realize.

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What are these fulltimebot votes?

bots controlled by @fulltimegeek

He split all his SP into like 90 bots.

And why? Did he wrote a post about why?
And thanks for clarification :)

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