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RE: Bitshares - State of the Network - 1st October 2018
Yeah. Crypto needs to grow up. It is time that people stop the scams, and focus on building real projects that build real value. Some are doing this, -building real value,- however the ecosystems is diluted by a large number of crappy scammy projects.
Back in the 1970's Japanese tools had a reputation of being very poor quality. There were cheap and junky. However, the Japanese industries adopted a quality mindset, and over the years established a high reputation for quality. Crypto Currency is currently suffering from a mindset of very poor, bad and junky projects. It is a race to the bottom. Every new scam out there cheapens the value of crypto projects overall. Real projects have a hard time getting attention, attracting talents, and making promises that they can deliver on. Each person only has so much time, and having to keep investigating scam projects, distracts from the real value of real projects. People want to get involved and build, but they also want rewards for their contributions and efforts. I think there needs to be a mindset change in Crypto, and projects need to move towards delivering, before general acceptance will take place.
Isn't this the whole point of Bitshares though? Highly optimized smart contracts on a scalable single-layer blockchain? Crypto is run by the news sites right now. All of them are invested in Ethereum and its tokens. Someday though, they're going to have to report on Bitshares. I think that day will be soon.
That may be the case. But there are multiple parts of an effective implementation. Developers may be good at developing, but not running a company. Effective implementations take multiple parts, there is both the law and the implementation of the law. I agree news sites are running crypto. That news though is on a fast news cycle overshadowing solid research and steady enforcement. Hmmm. Let me express it this way. Everyone knows that Mexico has a reputation as an unsafe place with drug wars, gangs, and corruption. I am not an expert on Mexican law, but I would generally suggest that "Mexican Laws" are "good enough." It is the "enforcement", "the following," and "the implementation" of the laws that is lacking. (I note that these get to be really complicated issues, you have community corruption, political corruption, untrustworthy courts, untrustworthy police ect. There are ways to address all of these but they are not simple, fast and quick.) Generally, I think crypto has good ideals, but it is the community and people that are allowing the frauds and scams to continue. Until the people Mexico stand up and fight with the police against the gangs, it will be a rough place, until the people of Crypto stand up against the scams, good honest people are simply going to avoid it.