Invest in projects that actually deliver instead of false hype. #500wordsaday

in 500 Words a day6 months ago


Invest in people and products instead of investing in the hype behind them. Today I saw an announcement about voice. The social dapp built onto the EOS blockchain. Yes that one.....

The app that took $150m to build. That promised the world and has delivered nothing. It promised to revolutionize blockchain apps. Revolutionize crypto social interaction. It threatened to kill off STEEM. (To be fair, if it waits much longer to release then it might get away with that claim). Promises are bullshit. Actions are important. They are beginning to launch now after a long silence but it has been very underwhelming to say the least.

It’s one of the most important lessons that I have learned in crypto and life in general. There are politicians that will promise anything to get elected yet again but once they are in the door will scratch their arses with your money until the time comes to whip up some votes for the next cycle.

In the last crypto bull run, we saw every type of blockchain and project raise funds on huge promises. Whitepapers that god himself wouldn’t have dreamt to put on paper. Yet where are all those empty promises now?? They crashed and burned when the markets hit some trouble. They fell apart at the seams when people examined those promises a little bit closer. For all the promise none of those projects manage to put together product. To build on what they envisioned. So many people got burned by investing in false hope rather than hard work.

We will probably see something similar again but for those who have been through it I hope that we have learned a few lessons along the way.

The lessons that I have learned in the past few years is to back the people and projects that are grinding away. The ones that have built products and then keep adding to and updating them regularly. You can see what they are doing and where they are trying to get to. Now, there are no guarantees in life. The best of projects can fall apart for a variety of reasons but in my mind I much rather the chances of a team that has put in the hard work over a long period of time to one that arrives with a flourish and nothing of substance behind it.

For all of its flaws, we are all entrenched with HIVE. It has survived throughout all of the turmoil and the trauma of the past few years. Even some extra of our own making. It has been updated and refined over those years. It has been slimmed down and utilised by real world products and projects. We have the top ranking dapps. We have a strong community and some of the best technology out there. That is why I keep picking up and adding more to my account.

I keep buying @splinterlands cards as I can see the strength of the team behind it. They continually advance and add value to their product.

I am also in the process of adding more LEO to my hive account. I love what they are building and think it should be the guideline for any community wanting to build on HIVE. They have taken the basic idea of a community and turned it into so much more. It is now a business with multiple uses, sites, utilities and an external source of revenue. They have everything that you would want to see in a project. Watching them increase that revenue week on week is no surprise and it is a token that I wish that I have more of before this. I will change that now but it is great to see a team building a solid project step by step. They have promised nothing but delivered a lot.

I would even like to see HIVE and @blocktrades follow their lead to some extend and add some value to our HIVE tokens by monetizing our content and data. That is the value of an active online community and should be used as a boost until HIVE can stand on its own two feet though it’s apps, games and investment opportunities. I think that those are still a long way down the line so it would be great to keep the price moving in the right direction until then by utilizing the community.

Invest in projects that deliver rather than promise. That is where true value lies.

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In the last crypto bull run, we saw every type of blockchain and project raise funds on huge promises....

Lucky me after some very novice yet intensive research I picked steem now turned hive.

Still I did fall for the hype when eng tokens started popping out. Live and learn right?

Now I'm more careful about which project I pick, gone are the days of chasing that high of the initial bull run when a "promising" project launches.

I really do need to check what leo has been up lately as I hadn't really been in the hive loop the last few weeks.

Great and informative read!

Blockchain will always be a bunch of overhyped rubbish I don't care how much fiat you throw at a project doesn't mean it will work. We're just being exposed now to what VCs saw in private equity for years, lots of hopeful projects and very few make it, just because you have bucks doesn't mean you will win.

I hope we get out of this phase soon and people consider investing in projects with a working product from launch and not this trading on speculation all the time

That would be the hope at some stage. For people to start investing in the projects that have survived up to this point with hard work and an actual useful purpose or product. So much of what is getting pumped is useless crap and the same will happen as the last time when markets dropped and they had nothing to keep the projects going as it was all hype and no substance.

Blockchain will always be a bunch of overhyped rubbish I don't care how much fiat you throw at a project doesn't mean it will work.

The same can be said for any business or idea as they are only as good as the people behind them. You have to back up those ideas with hard work and enthusiasm to get any project off the ground. So many start ups fail because the owners don't have that drive to keep going through the toughest parts at the beginning and make it out the other side.

I fully agree with you blockchain isn't some silver bullet to success, and like all business sectors the failure rate will be well above 90% even more in such an early stage. People are pumping money in knowing it's the future but we don't know what the path will be to get there, its a fun ride though, no doubt about that

You're a long time survivor in this world like a lot of the other hive users. It has been a wild ride to here and it hasn't even started yet. Looking forward to the next wave what happens when a new batch of people get excited about it.

LOL yes I've used this bear times to stack cheap sats and learn more, I can't believe how little I knew back in 2017 and I was investing in all sorts of shit coins. I'm much more prepared this time around but still learning every day

I think it is still very early days for Voice and EOS. I wouldn't write them off so quickly. Dan Larimar built Steem and Bitshares as I'm sure you know and the team behind his new projects area also pretty impressive. I think their main issues is that they are trying to comply with so many regulations and this gamble may really help with mainstream adoption.

I don't write them off totally. I'm sure they will come out with an app soon enough but will it be worth two years and 150m investment? EOS has some uses and apps so it's not a terrible investment. I was thinking more along the lines of all those shitcoins and ico's that got pumped during the last bull run.

Projects with big whitepapers but never any substance behind them. So many haven't been heard of since compared to the few crypto's that have real world use and have kept developing and plugging away throughout the bear market.

We know about the struggles with #hive and despite that it has kept going through all the drama and adding new communities, users and apps. Lost some too but those are part of the setbacks. When I am looking ahead for the next couple of years it is that type of product and resilience that I will be putting my money behind rather than pumps in the market or a lot of hype.