A True Cryptocurrency must start with the fundamentals

[TokenHodlr]

Strange that you have missed the biggest fundamental of any cryptocurrency - the underlying consensus algorithm. If algorithm isn't theoretically secure, the whole cryptocurrency can't be considered safe and decentralized. A ton of altcoins are using iherently centralized algorithms, which makes all their supposed achievements irrelevant - the point of cryptocurrency is to remove the middleman, not create a new type of middleman.

Your point is my point. Nuff said

[Lexurdania]

Any good project must be based on sound fundamentals but to me what differentiate good projects that succeeded and those that do not is sound marketing behind their project, this is one thing in the space that is really lacking, what most of these projects rely on is using Twitter influencers and this can only do 1/10th of what needed to be done. Until this is looked into critically, not when you want to raise money but after the platform is up and running

Marketing/sales has two strategic approaches. One is a push, the other is pull.
Push entails force, very expensive, pull has your constituency driving demand. 

I agree that marketing can be done after the product is running and so investors understand about the project to be invested. Fundamentals are important because they form the foundation of a project because fundamental analysis will determine how a company earns money and finances the project

[jossiel]

You are too being technical which can't be understood by the usual users and investors of cryptocurrencies.

What's this flywheel model that you are trying to explain? is this another concept that a project tries to make it popular? Bitcoin is far from a total monetary solution? how could that be if it's the reason why cryptos were born and if its not because of it, do you think ideas of creating newer altcoins will come?

Taking the example of being far from that and let's take it a yes. It's because of the conflict of the gov't implementing rules which others might not agree into its purpose.

Touché.

My being too technical was intended to filter out the usual users and investors of
crypto-systems for a more seasoned, sound and serious discussion.

I understand your point of eliminating those investors that just comes in because they've heard that crypto is something new and they can also profit with it despite not going deep with it. But they are all starting and most of us came from that point. Once they go deep with those fundamentals that's the turning point if they'll go serious or not.

As to the Flywheel Model, although no longer taught at the business universities, is at least as old as recorded history and far from another concept that a project could make popular. Although much is written on the subject, suffice it to say, that in my humble opinion, the Flywheel Model/Effect is the missing link in strategically unifying the real-world of tangible value creation and the world of crypto-systems.

Flywheel Effect: Why Positive Feedback Loops are a Meta-Competitive Advantage

I don't see Bitcoin as a complete Monetary solution because it lacks the fundamental design, engineering and architecture necessary to serve a community in the hundreds of millions, not to mention the billions.

As I stated in the opening of this thread, the Monetary Eco-system and the currencies that will ultimately succeed, have not been Visioneered and brought to market yet.

In closing, gatekeepers implementing rules and regulations should be sidelined, not complied with.

Thank you for your thoughtful and considered response. I look forward to a deeper exploration of what I intend to be a most productive conversation.

This is kinda long but thank you for this and I'll read this whole thing afterward.

[mu_enrico]

@TokenHodlr your welcome

Even though I think TokenHodlr is a smurf account, it doesn't matter since you bring an interesting discussion to the table. Perhaps you could speak this way more freely.

What the Flywheel Model brings to the table is an organizational structure that becomes the catalyst for the momentum effect, which attracts and rewards users before the network effect and scale of economy come into play.

I've read the medium article, and IMO not much new information can be derived (perhaps I studied business for too long). Models/frameworks indeed useful for mapping ideas, and I can see why the Flywheel Model looks appealing. However, I shall not derail this thread. I get your point that the snowball effect + momentum is essential.

Although utility and fungibility are at the top of the list of prerequisites, I just don't see how BTC, ETH, et al. scale strategically in a real-world global market. No reliable mechanism of true price/value discovery translates into speculation and endless volatility.  

I think the free and open market is the only way to get the true price/value discovery. What's the alternative?
It doesn't matter what motivates market participants. Everything is already priced in, assumed that the market is efficient. << this is what they taught in school.
The problem is that the crypto market is far from efficient.

As for BTC, ETH, etc., yeah, I remain skeptical after observe how the situation progressed.

I am convinced that a new protocol, with its own native cryptocurrency is an absolutely essential component for community management and self-regulation of the entire transaction chain cycle, enabling efficient, effective and profitable delivery on promises.   

I don't know man, cryptocurrencies (and any form of currency) always involve governance. And it goes beyond the tech itself (i.e., consensus, reward/subsidy, hashing algorithm, etc.). Perhaps you should elaborate your idea more clearly, about what kind of protocol in your mind that can be the better currency than the contemporary blockchain technology.

[cudora]

The most important part is the use case, which 90 percent of all currencies do not have at all. They can have a good website, whitepaper, community, but without real value behind the project, no coin will achieve something.

[jazmuzika217]

You are driving very deep on your point. Yes you are right that fundamentals are important and I think to all thing this is important. But always remember that function and marketing is more important in everything because this is the heart of every business or any project. Deep article or post is not important in this industry. We are here to make our life easy and comfartable not in a deep conversation.

[TokenHodlr]

a true crypto currency should be basic in the since that it doesnt need to be  to complicated, identifies it self if its usages, mostly this is what also needs to be clear what its path, for the future, the developers should always and must know its limitations, and can push it to its limits, can do mass adaptations because its what people needs to know for a projects

Stipulated, "cryptocurrency" is an important, but relatively small element in terms of the eco-system itself, which the method of exchange (MOE) or crypto serves to facilitate, buying, selling, trading and other productive trans-actors, as well as liquidity and general fungibility/utility or uses case. As for the path, that should be the product of ‘the wisdom of the vested community’.

[TokenHodlr]

I wish we can really bring it down to the layman's level, I equally agree that a true cryptocurrency has to have all fundamental qualities to make it so but with all been said, can you please enumerate the few cryptocurrencies that make this cut of being a true crypto. It will help the ordinary cryptocurrency enthusiasts outline and identify true cryptos

Your response gives you away.

I understand what it is you ask, however, a layman you are not.

I would be happy to report that there were a few, even one, that I have found that I would recommend to my mother, whom is an ordinary cryptocurrency enthusiast. It is my desired outcome that this thread will play out a helpful role in exploring, discovering and perhaps even creating a community deveopled, supported, managed, regulated and most importantly, profiting from our exploration.

[TokenHodlr]

Strange that you have missed the biggest fundamental of any cryptocurrency - the underlying consensus algorithm. If algorithm isn't theoretically secure, the whole cryptocurrency can't be considered safe and decentralized. A ton of altcoins are using iherently centralized algorithms, which makes all their supposed achievements irrelevant - the point of cryptocurrency is to remove the middleman, not create a new type of middleman.

Ive looked back over my posts on these threads (out of respect for your member status, activity and your merit) and do not see how you arrive at

Strange that you have missed the biggest fundamental of any cryptocurrency

otherwise, I agree with your post in its entirety. I am here precisely because of these concerns you, others and I have.

[TokenHodlr]

Any good project must be based on sound fundamentals but to me what differentiate good projects that succeeded and those that do not is sound marketing behind their project, this is one thing in the space that is really lacking, what most of these projects rely on is using Twitter influencers and this can only do 1/10th of what needed to be done. Until this is looked into critically, not when you want to raise money but after the platform is up and running

Marketing/sales has two strategic approaches. One is a push, the other is pull.
Push entails force, very expensive, pull has your constituency driving demand. 

I agree that marketing can be done after the product is running and so investors understand about the project to be invested. Fundamentals are important because they form the foundation of a project because fundamental analysis will determine how a company earns money and finances the project

Lexurdania,

Precisely, like sex on the blockchain!

[TokenHodlr]

I understand your point of eliminating those investors that just comes in because they've heard that crypto is something new and they can also profit with it despite not going deep with it. But they are all starting and most of us came from that point. Once they go deep with those fundamentals that's the turning point if they'll go serious or not.

It is not my intent to exclude those investors that are new or unitiated in this thread. My outcome is that most of this thread would be populated by those in the community vested in its most beneficial outcome for all participants.

[TokenHodlr]

@TokenHodlr your welcome

Even though I think TokenHodlr is a smurf account, it doesn't matter since you bring an interesting discussion to the table. Perhaps you could speak this way more freely.

What the Flywheel Model brings to the table is an organizational structure that becomes the catalyst for the momentum effect, which attracts and rewards users before the network effect and scale of economy come into play.

I've read the medium article, and IMO not much new information can be derived (perhaps I studied business for too long). Models/frameworks indeed useful for mapping ideas, and I can see why the Flywheel Model looks appealing. However, I shall not derail this thread. I get your point that the snowball effect + momentum is essential.

Although utility and fungibility are at the top of the list of prerequisites, I just don't see how BTC, ETH, et al. scale strategically in a real-world global market. No reliable mechanism of true price/value discovery translates into speculation and endless volatility.  

I think the free and open market is the only way to get the true price/value discovery. What's the alternative?
It doesn't matter what motivates market participants. Everything is already priced in, assumed that the market is efficient. << this is what they taught in school.
The problem is that the crypto market is far from efficient.

As for BTC, ETH, etc., yeah, I remain skeptical after observe how the situation progressed.

I am convinced that a new protocol, with its own native cryptocurrency is an absolutely essential component for community management and self-regulation of the entire transaction chain cycle, enabling efficient, effective and profitable delivery on promises.   

I don't know man, cryptocurrencies (and any form of currency) always involve governance. And it goes beyond the tech itself (i.e., consensus, reward/subsidy, hashing algorithm, etc.). Perhaps you should elaborate your idea more clearly, about what kind of protocol in your mind that can be the better currency than the contemporary blockchain technology.

Sir, if I may presume so, I agree. Everything is regulated in one way or another. Whether it be the universe, the galaxy or creation itself. Technology is not the issue in my mind. Constitutionality is.

I appreciate your encouragement and I most certainly will elaborate "your idea more clearly".

If I had all the answers, I wouldn't be here. Like most of the contributors here, I would likely be on the isle of my dream with no time for anything else, other than friends, family and the enjoyment thereof. 

I don't imagine it being a "better currency" or "blockchain technology", these are more than adequate for the time-being.

 

[TokenHodlr]

The most important part is the use case, which 90 percent of all currencies do not have at all. They can have a good website, whitepaper, community, but without real value behind the project, no coin will achieve something.

I must confess, I have not followed your commentary on this forum.

Thus, do not discern the discrepancy between your activity and merit scores. However, I will wholeheartedly endorse the entirety of your contribution to this most eventful conversation.

[TokenHodlr]

You are driving very deep on your point. Yes you are right that fundamentals are important and I think to all thing this is important. But always remember that function and marketing is more important in everything because this is the heart of every business or any project. Deep article or post is not important in this industry. We are here to make our life easy and comfartable not in a deep conversation.

Understood, however, I take issue with your inference, that we are here to make our lives easy and comfortable.

I am here to make life deeply satisfying.

[mu_enrico]

Sir, if I may presume so,

No, I'm a sucker.

My apologies, I'm under the impression that you are here to speak/teach about your "new cryptocurrency." But I think what you want is:

I am here to make life deeply satisfying.

So, I wish you good luck finding what you are looking for in this place.

Seriously? The Bitcointalk altcoin discussion?

[TokenHodlr]

Sir, if I may presume so,

No, I'm a sucker.

My apologies, I'm under the impression that you are here to speak/teach about your "new cryptocurrency." But I think what you want is:

I am here to make life deeply satisfying.

So, I wish you good luck finding what you are looking for in this place.

Seriously? The Bitcointalk altcoin discussion?

Admittedly, that was a bit cheesy. Should've used the sarc button.

It has been my observation that the best teachers were also the best students.

On a more serious note,

The big issue for me in all the offerings I've seen is a simple lack of authenticatable yield; no income, no basis for discovery of true price/value. Just pure speculation; or better yet, gambling. I think this is best illustrated looking at the historical price charts, especially the last 5 years. For all coins, including Bitcoin. You will see they move almost in tandem; a glaring indication they're pretty much all 'me too' coins. Although recently Altcoins have, on occasion, led Bitcoin, especially to the downside.

Yield as we know, is the wisest and truest protector from inflation's ills and preserver of wealth and the formation of capital. Without high-quality income-producing assets at the foundation of the cryptocurrency, there will be no mechanism for true price/value discovery in the open markets that transactors can rely on.

[TokenHodlr]

The most important part is the use case, which 90 percent of all currencies do not have at all. They can have a good website, whitepaper, community, but without real value behind the project, no coin will achieve something.

An example of this is the definition of Webchain, it is a well-defined project which conceives the community of website users as the processing grid for applications, based on blockchain technology, open-source, a very precise white paper, which shows the real value of your product and innovation in the consensus mechanism.
Next to Webchain, are CoinIMP (JavaScript Web Miner) and Mintme (Exchange Platform), platforms that make up a whole ecosystem. Although Mintme goes much further, you can create your own tokens and give them value in WEB currencies, trade them or invest in the tokens of other creators, among other features.

I am familiar with the first two recommendations. The third one I will give a look.

For me, the use case, meaning fungibility, utility, or ubiquitous exchangeability is paramount. Its usefulness should be at least up to the standard of USD without the insidious inflation that eats away savers' financial plans, purchasing power and store of value...

Re-inventing the wheel isn't what I'm looking for or proposing here. In my 3+ years of
researching these issues and more than 30 years of operations experience reveals to me that
the right team with the right balance, both in breadth and depth of experience, has simply not been
put together to produce even one project, that I'm aware of, that successfully combines all of the elements
necessary for the project to go from ICO to Apex-class competitor.

[TokenHodlr]

What I am suggesting is that if you are going to invest in the DLT/Blockchain, Crypto  markets, arguably one of the most insane games on the planet, then you need to have some measure to protect your investment capital from significant losses.

Unclear on what the catalyst could be, if anything news-wise, but cryptos are collapsing across the board with altcoins leading the plunge... Bitcoin’s network hash rate dipped a record 40% yesterday, Sept. 23, in a sudden shock for the network.

[TokenHodlr]

Since, ‘companies’ derive their revenue/earnings from consumption of their goods, products, and services; it is only logical that price appreciation, over any-term, should be fairly equated to its economic growth. This should/could be the case in a properly engineered crypto-system as well.

[TokenHodlr]

The MOE would feature broad functionality, more than just a ‘beautifully crafted concept’,
an authentic and viable instrument which would seamlessly operate on a global scale.
Implemented by virtue of Blockchain technology, and secured by continuous community
audit of all income streams and the assets producing those cash flows.

From my perspective, altcoins reveal how little true price discovery there is to Bitcoin... This is as true of any Altcoin or ‘currency’ which isn't directly linked and convertible into Fundamental Physical Commodities; land, buildings, equipment, finished goods inventory, food, water, shelter, natural resources, other currencies/financial instruments, etc.

At an authenticated, Published and Transparent Conversion Rate.