[...] I would be satisfied if I will see an steady growth although sometimes it would be nice to see it pump.
I don't think that Edgeless will have the luxury of time at this point. Without a stable coin to value the Casino Token with, the current business model will siphon off the little profit they have and without a way to raise capital, they are burning the candle on both ends. Failure to hold to their promise to the crypto community has burned some incredible bridges for Edgeless. At this point they will be unable to raise additional capital as they have not followed through with the original promise of Edgeless.
Currently the lack of stable value for EDG, and use of Bankroll profits is pushing all risk onto the existing Holders of EDG, and the original purchasers of EDG who may still hold EDG. Those who choose to stake are a small pool that is insulted by the current Staking arrangement that refuses to reward the risk this project is running with any returns to justify that risk.
Joel Spolsky said:
https://web.archive.org/web/20120202115945/https://www.inc.com/magazine/20091101/does-slow-growth-equal-slow-death.html"So what's the proper amount of risk? A lot of people would say, "Gosh, zero?" OK, that sounds safe and reasonable. You worked hard to build your business; you're counting on it for your retirement and your kids' college and whatever. But if you're not taking any risks, you're pretty much guaranteed to fail. Somewhere, there's someone out there who is taking more risks than you, and that person's business is growing faster than yours, and that person's business may one day come to dominate your industry while yours withers away."
This has created a vicious cycle of negative price pressure for Edgeless, which is only worsened by the Edgeless Team announcing that the Bankroll profits are being used to fund current development. The market has properly punished the price of EDG, as without a clear timetable of when the Bankroll Profits will be released to match the original design, and without any possibility of favorable terms for infusing future capital the Edgeless Team is left only with heavily discounted deals to fund the continuation of Edgeless. Such deals at heavy discounts to the current market price will cause additional pressure down.
We are looking at a quite bleak future for Edgeless. Those who still may be optimistic about the possibility of Edgeless, ignore that they cannot achieve what they state with the current design.
I went to the Edgeless website, and they still talk about Staking as if it is a Beta product. This was one of the cornerstones of the White paper, and they alienate crypto enthusiast's that could provide capital by treating this as an optional, maybe if we make some profits we'll have some excess to share. This is why Edgeless is in a death spin, they won't honor their original commitment, and they are punished by the market.
Using "Profits" from your Bankroll demonstrates that you have no capital. Instead of treating the Bankroll as an asset that grows and a pot that will enthuse Players in the casino, The Edgeless Team is treating it as a piggy bank to raid.
If Edgeless would honor their commitments, and allow those who risk capital to realize a return, they would reverse this descent. They would have additional resources for building the Edgeless system, and they would not push unrewarded risk onto the market.
Every Edgeless token taken by the team and sold into the market is providing downward pressure of this project's only ability to succeed. EDG must be treated as a Stable Coin by the market, and the Stakers must be compensated for risk with reward.
If both of these were done, there is a chance for EDG and Edgeless. If not it isn't worth a penny.
