Don't Understand the Outrage Drug Wars and Magic Dice

in #drugwars5 years ago

Don't get me wrong, I understand why, but don't know why people are so surprised at what is happening. These dapps aren't decentralized and the creators can do whatever they damn well please. They are the owners of the company and are going to do whatever they feel makes them the most money. They can shut down the game or the gambling site tomorrow for any reason as they please and, to my knowledge, there wouldn't be anything anyone can do about it from a legal standpoint.


Source

That's part of the risk of being an early investor. You could be a billionaire getting in and earning a lot of magic tokens in 10 years or 10 years from now very few people will still be on Steem that even remember magic dice. The Steem blockchain and all the dapps that are on it might not even exist 10 years from now.

Feel free to cry about it, but all I have to say is get over yourselves. I lost money when @zeartul was running @bellyrubbank and got "hacked" aka cut and run. I was just starting out on the platform, finally saved up enough sbd, 20, to deposit some funds and start earning interest. I almost had enough saved up to make another deposit when he decided to cut and run.

I was pissed and I complained about it, but when people started donating funds to help repay some of what people lost I told them just to split my 20 to others that had lost money. It was my decision and even though I didn't know it was a scam I had a feeling it was too good to be true and my fault that I didn't wait a little longer (he made payments the first month) to see if it was legit. I FOMOed in and I was willing to accept the consequences.

The definition of speculative

engaged in, expressing, or based on conjecture rather than knowledge.

I have no knowledge of how these dapps are going to behave in the future. There is no smart contract that keeps most of these developers honest. I could invest 100s or 1000s of Steem into a card on SteemMonsters that I perceive is overpowered and the very next day they could decide to nerf that card into the ground making it "worthless" to players and only maybe worth something to speculators/investors. Same thing in drug wars for people spending a lot of Steem on troops only to have a change made to combat system making those units worthless.

At least it seems like the creators of these dapps at least want to stick around long enough to make some more money an who knows maybe they will be worth it in the long run, but hopefully all the people that are whining and crying learn a lesson that it's not always worth being an early adopter. Sometimes its the smarter move to wait and see how everything plays out before jumping all in. To slowly enter a position so if it all goes to zero it won't be a loss of more than you can handle.

I'm not trying to be an asshole right now as my point is to grow up, learn your lesson, and either move on or bite your lip and keep plowing ahead with the game. Drugwars and Magic Dice aren't investment opportunities. They are a game and a gambling site which pays out rewards from microtransactions and gambling profits which could dissappear as quickly as they appeared in the first place.

Sort:  

Well, nothing built on Steem right now will be decentralized. It has no smart contract platform. As far as I know, all that's happening is centralized sites interact with the API to the blockchain.

If you want decentralized games and gambling, you'll need smart contracts.

I know, I guess Im just more paranoid then most that all new projects are looking to do is make a quick buck and arent focused on the long term.

After all isnt that why most people get into crypto so by this time next year everyone can be riding around in lambos, so wouldn't it make aince that most people creating projects are looking for those same results as well.

Posted using Partiko Android

Haha yeah that seems to be the general consensus. People just need to be careful. I never got into crypto to get rich. That'd be nice. I'm more in the believer in the technology camp. Making money is secondary. It's far better than the shit inflationary fiats we use now. Only bad thing about crypto is having to rely on the internet.

Just be careful with games and gambling. I only invested like 30 Steem in drugwars. Already made it back too. Now, I'm just collecting like 1-2 Steem a day from it and building for free. :D

Congrats man. I was never one to put money into games so I'm making pennies everyday playing for free. I'm sure your approach is the better approach, but honestly just haven't put much time in the game either so not complaining about the few cents I'm making.

Interesting take on the current state of Steem G. You are certainly not wrong - but perhaps a little harsh.

Sidechains and add-ons are going to be commonplace in blockchain. No avoiding this and the trust we will need to place in developer - but not much different to any other business / investment really.

When you hand over your cash there is always a risk you will not get it back. And such is life.

SirKnight.

Posted using Partiko Android

I know it was a little harsh, but just feel like it needs to be said. Not all dapps are going to be scams, but come the next bull market their is going to be a lot of incentive for scammers to come back out because there will be a lot of potential money to be made.

Even if one person, after reading this, doesnt invest in something out of the gate that turns out to be a scam writing this will be worth it.

I was tired and rambling last night. If I could have rewritten this my point would be to not jump all in on these new projects to slowly build up your investment. That way you can both be an early investor and only loose a small amount if the project goes belly up.

Maybe Im just a salty crypto "old guy" thats seen too many projects just cut and run and yelling at the new kids to get off my grass.

Posted using Partiko Android

This post has been included in the latest edition of SoS Daily News - a digest of all the latest news on the Steem blockchain.

Thanks so much!

You got a 6.25% upvote from @ocdb courtesy of @gniksivart! :)

@ocdb is a non-profit bidbot for whitelisted Steemians, current max bid is 60 SBD and the equivalent amount in STEEM.
Check our website https://thegoodwhales.io/ for the whitelist, queue and delegation info. Join our Discord channel for more information.

If you like what @ocd does, consider voting for ocd-witness through SteemConnect or on the Steemit Witnesses page. :)

Coin Marketplace

STEEM 0.20
TRX 0.13
JST 0.029
BTC 60937.94
ETH 3381.82
USDT 1.00
SBD 2.48