Taking and making profits and supporting the crypto industry from within

Back in February 2018 , I listened to a Sam Harris podcast with Eliezer Yudkowsky, an influential decision theorist focusing on AI. The discussion is interesting in itself, but toward the end when Harris asked about funding of the Machine Intelligence Research Institute, Yudkowsky said that, because Bitcoin bulls interested in technology had made donations on the rise of the markets, they were currently well funded and the problem was, finding skilled specialists they could hire. Being at the cutting edge of AI or any industry means finding skilled participants can be very difficult.

As interesting as this is, I have been thinking about what might have changed since that time and whether it is good for the crypto industry. While the markets have always been speculative, there has generally been a drive in crypto for better economic mechanisms that increase the opportunity and well-being for more. Since markets are all consumer driven, this would mean that for betterment to happen, it isn't good enough just to generate value, that value has to be used to generate change. Investments into better need to be made.

Now, around this same time, Bitcoin had hit its ATH of just under 20,000 and the value of the market had drained into other projects, pumping the markets up considerably. However, at that time, there weren't many stable coins out there. Now with stable coins, it is more likely that the bulls will drop into those, instead of going into projects, because the stable coins offer stability - of course. While not much gain can be made, not much fall can be made either. I believe that this is a problem.

Not the gains or the falls, but if the large traders are doing this, what they are effectively doing is tying themselves to fiat markets, essentially keeping the system the same as it always was, mostly. Sure, they are still more out of fiat than they were and have more mobility, but they are more in it than they should be, if the idea is to change the economy. The reason is that going into stables means never having to go into anything else, including all of the projects that are building use cases for the crypto industry.

Like the Machine Intelligence Research Institute, what projects need to grow and survive is streams of funding from various sources to keep the projects growing. That funding can of course come from external fiat holders injecting in, but it should definitely be coming from internal profit takers who should be wanting to see the entire crypto industry grow.

While on Hive, stake is a voice, off Hive, wealth is a voice that an be used to support and shine a light on projects that bring value to the growth of the market place. Crypto is a tiny, tiny fraction of the wealth in comparison to the other markets and this is very early days. In order for it to really reach its potential, the world's wealth needs to start paying attention to the potential of growth and there is no better way to do that than by putting attention on projects that they would be willing to support directly. It really isn't good enough just to have Bitcoin as the potential for gains, there has to also be working crypto business models that make the industry valuable.

Currently, there aren't that many projects out there which actually offer usage, let alone end user experience, with Hive being one of the very few. Most projects focus solely on their ability to be investment vehicles, offering nothing more than a chance for gains. But, the only point of making profits is for those profits to be used - if there is nothing to spend them on other than going into fiat, what is effectively happening is that the potential wealth of crypto will drain back into fiat business models, instead of being used to build the crypto industry to rival it.

This means that the potential of the voice of the generated wealth of crypto is shouting into fiat, while whispering for crypto. If the idea is to continually keep increasing the wealth mass in crypto, that wealth has to keep building crypto projects to create the industry. The crypto industry isn't investment vehicles alone, it is the daily usage of crypto to empower the lives of people across the globe, by decoupling them from their reliance on fiat currencies controlled by centralized authorities.

In my opinion, the generated wealth of Bitcoin bulls should be looking to find projects to support that facilitate this end, as ultimately, it will also increase their position in crypto as well, as it will attract a higher degree of user mass in the industry, building stability, whilst simultaneously weakening the old fiat models by attracting its wealth onto blockchains.

Essentially, the crypto bulls need to start becoming industry leaders, rather than pure profit takers. While they may not want to be known faces, they can be very influential through the attention they can bring to projects. They need to be investors into businesses, not speculators on currencies. The problem is, that so many are looking for profits alone, they don't care about projects that help the industry grow or at least, don't see it as their "job" to help the industry.

This is very short-sighted and is why the "real" business leaders in the world will likely not only get their foot in, but will start to control the industry, because they look long on industry and they use their wealth to advance what they believe will bring more stable value streams in the future. Crypto people are generally instant gratifiers, thinking that 2 years is a long time, but it is a blink in the grand scheme of an industry, let alone one that is going to challenge the institutionalized economy itself.

Just imagine what the crypto project industry would look like if instead of Bitcoin bulls and bears heading into stables and fiat, they went into working projects with high potential instead. The entire ranking would change, market caps would shift incredibly and the attention of the masses would be focused on a much smaller grouping of experiences that they can actually use in their daily lives to cope with their daily tasks and challenges. This is the kind of marketing that crypto needs - this is the kind of attention that brings mass adoption.

And, this isn't charity from the investors, it is intelligent business sense, as it means that they are investing into where the mainstreaming balls are going to be, by engineering the field of play so that is where people will look. This makes the Bitcoin bulls angel investors into crypto business and will see them take massive gains on their early adoption, as well as distributing their risk and bringing stability to their portfolio.

When it comes to the crypto industry, stable coins don't bring stability, stable projects do - what these projects need is the funding to learn, adapt and provide for the driver of all markets - the consumer.

Without consumers - an industry isn't an industry at all.

Taraz
[ Gen1: Hive ]