https://mobile.twitter.com/AlexMur01538335
#Joined Daox Airdrop

Most traders I've spoken to think this was just a bulltrap and that we're heading back to 6k and below. I'd say right now it's more likely we're going down than up.

True, it was more an observation of some of the ideals the community have adopted - or at least the image is presented.

The white paper is, as you say, straightforward in that it's essentially about money over IP, nowhere in there is talk of revolution or overthrowing traditional financial institutions - that has been implied and appended by members of the community, who have taken to this more as evangelists on a mission.


A shame that we cannot escape this part of the human condition - for the time being. It might be centuries before we move on from this antiquated way of thinking - don't take this the wrong way, I'm for open free markets and capitalism - but it's the human condition (irrationality, fear, greed) that basically spoil what could be an elegant system.

I understand that Bitcoin isn't here to solve these problems, but it doesn't help that the community seems to preach that it will. Plus, I assumed the 'new money' personalities that crypto minted would be of the ilk that might try to solve these problems, instead, all I see is the same manipulation, the same greed.

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There were a lot more replies here than I expected, so apologies I can't reply to everyone, but I've read through all of them - thanks for replying with your thoughts and balance to this discussion.

I agree that BTC is not about philanthropy (although there have been some fantastic examples) and that crypto isn't some global effort to re-distribute wealth proportionately, even though it is redistributing wealth to some degree. However, this is the 'image' that crypto portrays to a lot of people; that it isn't just tech solution, it's about a revolution in many ways.

To me, that revolution is nullified by the economic landscape that crypto has built, where it's basically the same as our current 1% system in many ways - which isn't the end of the world, it's just an observation of the difference in the image and the reality.

I suppose after some thought, my main concern right now is that larger players are hindering adoption through their manipulation and greed. Sure, we may never live in a 'fair' world, and that's fine, nature isn't fair, the universe isn't fair, perhaps it's a utopian pipe dream, and that's OK, but if the goal is to have BTC or crypto adopted globally, then how does that work with such blatant manipulation? As another user said:

I'm not sure if this topic has been raised here, but I wanted to discuss the landscape that we are in within the crypto world.

The way I understand it, part of the goal of crypto-currency is to give some power back to the people, power that banks and large financial institutions have wielded over the common folk for a long time. And make no mistake, this is a corrupt system we're talking about, as has been well documented over the years.

One of the larger complaints that we regularly hear about is the 1% or even the 0.1% - these are the powerful people that own the majority of the wealth in the world, and who are mostly vilified and abhorred by the less fortunate.

It's my understanding, that many crypto evangelists want to move away from this kind of world, but how is that shaping up so far?

From what I can see, the majority of BTC wealth is concentrated in the hands of the few, the same goes for many altcoins. The other day I saw a post that one person owns all the GVT in circulation.

So let's hypothetically say that crypto is a success, and we start to move away from fiat and eventually use cryptocurrency, that's great in the sense that power from banks has been removed (to some degree), but what about the problem of disproportionate wealth distribution? Aren't we just moving from one system of masters and serfs to the next?

Perhaps I'm barking up the wrong tree, maybe that isn't a goal or ideal of crypto to strive for, but I have seen people like Brock Pierce talking about creating a crypto utopia in Puerto Rico and it also makes me think - what kind of utopia are they thinking of? Because sure, it's utopia for them, but I don't know if the people who will be living there and serving them will think the same.

Part of the reason this comes to mind now is because of the blatant manipulation that I've seen in the markets and exchanges.

The last few days of charts for BTC look like an alt-coin pump-n-dump, and this has been going on for a while. So what is the end game? Suck in newbies, get them to spend some money, shake them out with a crash, shake them out with erratic pump-and-dump manipulation so that the few can continue to amass BTC - to what end?

Where will they be when they are the only ones holding crypto and everyone else either a) has been burned and won't touch crypto again or b) doesn't care to join in the dance?

What's the point?

I see it's on IDEX, but I'm curious if this is the legit token, can't see announcement from the team whether JNT is launched there for real or not.

The whole thing just sounded like an ancient company trying to cash in on the latest craze

So I'm guessing right now is not a good time to buy since people are dumping their airdrop tokens? What was ICO price per token approx?

Before it was about getting into ICOs, now it's about getting into pre-sale of the ICO.

It's getting out of hand, as unfortunately, the whole 'pre-sale' idea goes against what made ICOs great in the first place because they were open to your average investor.

What makes this even worse is there are a lot of instances where the pre-sale investors just dump their bags upon launch and leave the pre-sale guys stuck holding.

It amazes me that people still think about certain coins this way and don't do the research.

Even if the team was incredible and this was some amazing all-star project (it's not) you need to check the potential for gains at least via market cap (as one metric for potential).

Think about what a $25 coin at PACs supply would equal in terms of market cap size and then think about whether you think this is realistic 

Possibly, but I think we're going to have a very sluggish couple of months and it's going to take some pretty big news from BTC or ETH to get the masses back in so they can fuel another ALT run.

Remember, a lot of people who started toward the end of December would've been spooked by the January crash - even the pre-xmas dip that happened - would've seen a lot of newer investors take the losses and leave. We need those investors back.

We'll see, but I'm not very optimistic right now.

There are some red flags (people asking for refunds on telegram - which are being given) as well as all the noise here and the lack of momentum, but this isn't some group of randos on the internet. This is an established business that I think is just looking to pivot or make the most of the current blockchain and ICO craze to help light the fire of possibly some stagnating business. It really just depends on the execution now and the plan moving forward.

Medicoin? What is this, I've now seen MedicalChain, MediChain and Medicoin. I guess the only one missing is 'MediToken' or 'MediBlock'.

Only have a small amount, but looking to get some more to hold alongside VEN. Very promising.

Any info on the team? Some of this just sounds very sketchy (mega factory?), but I'll keep an open mind for the time being.

I feel the tax reason is only one side of this. Governments are looking at ways to tax crypto, and from what I can tell in most cases it is being treated in the same way any other asset/investment is treated with a CGT component.

On top of this, some governments have already looked at taskforce/investigate help to be able to identify citizens invested in crypto, and a lot of this already exists for the typical cases of keeping an eye on money laundering etc

I get the feeling, and there is a small amount of tin-foil hat to be worn here, that there are some larger players and 'powers' that also tend to force the hands of governments a little, either to get ahead of crypto for their own gain, or to stop any further decay of power via decentralization (or fear of it).

There is actually a great book about this decay of power called "The End of Power" which I think people should check out that does a much better job illustrating this idea.

Missed the ICO on this one, what was the price per token at time of ICO?

I'm tentative about giving exchanges all my info, let alone something like a bounty program or airdrop!

I can see ETH hitting $5-$6k if BTC continues to rise in the future, sure. I think a while back people were probably also thinking that ETH would never hit $1k, and here we are, it really all depends on where BTC goes to some degree (but I do think that alts are starting to be less dependant on BTC pricing as it's market dominance is reducing)

That was my bad, they are in fact exhibiting. Lets see what comes of this. Code is still not visible though, guessing the rebuild is in a private repo (hence the other work in their GIT is quite old).

And you're right, they need more marketing.

This looks interesting, especially in light of recent news. Shame the bounty program is closed, there are certain projects and coins that I don't mind discussing and sharing, and this is probably one of them.