As stated in the title, what do you think is the biggest problem in the Crypto Community?
That some young guys can raise $10 million in an ICO and
go live their fantasy coding in a beach house in Costa Rica, without even having solved any of the design issues of how to innovate proof-of-work or proof-of-stake such that it can be decentralized and scale.
They are trying to build a blockchain and do not even have a design yet. All they know is they want to build user friendly GUIs, yet
their FAQ won't display correctly in either of my older Firefox or Chromium browsers on Linux (I had to view source to read the FAQ answers). So when they can not even get the GUI of their FAQ to work correctly, and that (user friendly GUIs) is the only thing they are claiming is their USP (unique selling point), one wonders why this group has $10 million in funding and I have $50,000 in funding yet I have innovated and solved the decentralized, unlimited scaling ledger issue which is fundamental to every kind of scaling apps we need.
All these ERC-20 projects
are not going to scale because
Ethereum will not scale (and at the least not scale decentralized)! It’s also interesting to read that
both of Dan and Vitalik agree their systems (DPoS and Casper) are vulnerable to manipulation by concentrated power; whereas, afaik my decentralized ledger invention is (in theory) the first one that is not and which can also scale unlimited decentralized.
These social media apps as ERC-20 tokens put the cart before the horse.
I do not want to sell an ICO because I do not want to make the future tokens of the project
banned and encumbered with being illegal (or even legal registered) securities (in every different jurisdiction in the world which has separate registration requirements for securities).
It is as if our ecosystem is dumb and is not allocating capital correctly.
I am not going to publish my design now, because some others will just steal it and go raise money using my design.
(A couple of those Nimiq programmers seem smart, but seriously intense coding is done on full size keyboards and large screens sitting upright in a chair, not lounging on a sofa in a prone position typing on a laptop in your lap)
The name Nim makes me think of nimrod. Frankly after viewing him in a couple of different videos, the founder
seems like a clown to me even though at least two of their programmers seem smart.
Also I tried to join their Telegram chat because that seems to be the only way to contact them, and permission was refused. How can a group that raised $10 million be uncontactable