Where is the Creativity?

[gwestcot]

I had actually left the space for four years just due to sheer burnout and it seems like we are still having the same discussions with the same subset of problems. What happened to innovation and pushing the envelope? Is anyone else thoroughly dissatisfied?

[Charles-Tim]

Are you referring to altcoins or this forum? Which creativity are you referring to? It will be good if you can explain what you are referring to in a betterbthag people can understand.

There are innovations if you are referring to altcoins.

If you are referring to this forum, this is a bitcoin wallet+and not an altcoins forum), but there are more things on the forum if compared to 4 years ago.

[gwestcot]

Are you referring to altcoins or this forum? Which creativity are you referring to? It will be good if you can explain what you are referring to in a betterbthag people can understand.

There are innovations if you are referring to altcoins.

If you are referring to this forum, this is a bitcoin wallet+and not an altcoins forum), but there are more things on the forum if compared to 4 years ago.

Ya, I am talking about altcoins in particular. I don't expect Bitcoin to move fast or anything, so it's definitely directed at altcoins in general. Maybe I am an oldie, but there was a lot more innovation between 2015-2021 or so than there is now.

[Ruttoshi]

Ya, I am talking about altcoins in particular. I don't expect Bitcoin to move fast or anything, so it's definitely directed at altcoins in general. Maybe I am an oldie, but there was a lot more innovation between 2015-2021 or so than there is now.

This is because we only have a lot of scam projects without any innovation and that has made a lot of investors lose big in the cryptospace. Investors are currently, becoming wise to see that there's nothing new in any new project but just hype and that has made them give less attention to altcoins.

Bitcoin is dominating due to the trust it has gained from investors. Altcoins is for gamblers.

[examplens]

Ya, I am talking about altcoins in particular. I don't expect Bitcoin to move fast or anything, so it's definitely directed at altcoins in general. Maybe I am an oldie, but there was a lot more innovation between 2015-2021 or so than there is now.

This has become scam territory primarily. The only ones who profit are the creators of various altcoins, tokens, and whatever platforms and protocols. The community and the people who get involved are just 'cannon fodder' and serve to push the project further.

If someone comes up with a "good" idea, very quickly a bunch of copies of the same idea appear and make it completely meaningless.

[pooya87]

Ya, I am talking about altcoins in particular. I don't expect Bitcoin to move fast or anything, so it's definitely directed at altcoins in general. Maybe I am an oldie, but there was a lot more innovation between 2015-2021 or so than there is now.

There was a lot more innovation and excitement back in earlier years like 2010-11 and it all dwindled down as the "gamblers" flooded the crypto-world trying to make "profit". They basically killed innovation in my opinion, specially ever since creating a new coin to dump on newbies became a piece of cake (introduction of tokens). At least in early years even the shitcoin makers had to have some programming skills and put some lipstick on their pigs metaphorically speaking in order to sell them. Nowadays they just lazily create a token with virtually no effort or cost.

[Localhostspeed]

I had actually left the space for four years just due to sheer burnout and it seems like we are still having the same discussions with the same subset of problems. What happened to innovation and pushing the envelope? Is anyone else thoroughly dissatisfied?

Just four years here and you are complaining, how about you look 10 years back and see if there is any changes. Altcoins challenge has always been speed, Defi, decentralization and NFts, these are the things crypto projects has fight in the last 5 years and it keep getting worse and worse everyday, no innovation of any kind that's why the place is not interesting. Nothing has change to create demand from investors and to make it worse, institutional demand is low.

There is this behavior venture capitals are doing now with projects, I'm not sure if they are doing that because the projects are failing but they don't value altcoins but they value the return they make from these projects. They demand for their allocations which they sell at the launch which covers their initial investment and get the rest of later, they don't care about projects anymore, just bunch of people making money on altcoins.

[uneng]

What happened is that all the innovation and solutions proposed by altcoins didn't work for real. Developers just sold promises and never delivered them. After all, this sector of crypto market summarized into speculation and scam schemes. I believe one big factor which contributed for that was memecoins which didn't add any value to this industry, but only led to losses and mockery. After memecoins, nothing new was launched here with considerable impact.

Altcoins have a potential in some cases, but this potential is never explored in an useful and efficient way. At least not in large scale.

[Odogwu-Blockchain]

Are you referring to altcoins or this forum?

Ya, I am talking about altcoins in particular. I don't expect Bitcoin to move fast or anything, so it's definitely directed at altcoins in general. Maybe I am an oldie, but there was a lot more innovation between 2015-2021 or so than there is now.

Most of those innovations that was created within that period of time turns out to be scam, dead and rug pulled. There were projects that tried to beat Ethereum calling themselves Ethereum killers, they ended up varnishing also.

The space has to reshape itself and shows us how to tackle it now than before, where every project was taken too seriously, a thorough research is done now before entry than before.

Now you are back, ETH, BNB SOL, XMR and BTC is the only way, others will waste your currency.

[Ndabagi01]

Ya, I am talking about altcoins in particular. I don't expect Bitcoin to move fast or anything, so it's definitely directed at altcoins in general. Maybe I am an oldie, but there was a lot more innovation between 2015-2021 or so than there is now.

Those years were the best years for altcoins and I am not certain that the market will ever favour altcoins like it did in those years. A lot of scam projects have already full the altcoin market space, and you can’t count up to 2-3 projects without one of them being a scam. Some people say altcoin inventors were mostly not having a good grasp of the market and with them now getting wiser, they don’t just invest money aimlessly without considering their own bigger profits first. Essentially, altcoin developers are after more of their own personal benefits over their own community which they’ve resulted into bringing out scam projects over again, which has not in any way benefited the community and the innovative solution died there.

[Odusko]

I had actually left the space for four years just due to sheer burnout and it seems like we are still having the same discussions with the same subset of problems. What happened to innovation and pushing the envelope? Is anyone else thoroughly dissatisfied?

I am just trying to figure out what really connect innovation and pushing the envelope, one thing that killed altcoins innovation is the various shortcut that most dev team decided to choose as approach to running their projects, which have kept us from evolving in the altcoins today, even uptil now nothing new have been introduced and no change have been made their just following same old approach.

[Slow death]

I had actually left the space for four years just due to sheer burnout and it seems like we are still having the same discussions with the same subset of problems. What happened to innovation and pushing the envelope? Is anyone else thoroughly dissatisfied?

Currently, people aren't very demanding. As long as they see a project with a high level of marketing, they don't think twice about investing. Just look at meme coins, for example. It's something I don't see as innovative, but anyone who creates a meme coin can name it after an animal, like a rat, for example. It doesn't matter if the animal's name is ridiculous or not; as long as they create a great marketing campaign, many people will invest in the coin. Look at these altcoins:

1 - elien-musk

https://coinmarketcap.com/currencies/elien-musk/

Clearly, some clueless guy created this, but if he has the money for aggressive marketing, then people will forget about this ridiculous name and invest in this; they won't care if there's creativity in it or if the name is fake, trying to profit from Elon Musk's name.

2 pill-gaytes

https://coinmarketcap.com/currencies/pill-gaytes/

Another altcoin with a ridiculous name. Clearly, they're trying to capitalize on Bill Gates' name. But if this altcoin owner pays many YouTube and Telegram channel owners to speak well of this altcoin, then even with a ridiculous name, people will invest in it, and the most unbelievable thing is that they'll say it's an innovative project.

3 - Captain Kuma

https://coinmarketcap.com/currencies/betakkuma-ai/

They even included this mascot.



Why am I showcasing these three projects? To demonstrate that we're not on the path of innovation, but rather a path of clowning around, a path of lack of seriousness. It seems like many altcoins are being created by children who view this market as a joke. It's not normal for an adult to create these things, naming their altcoin "Pill Gaytes" or "Elien Musk" and it seems to me that the number of new altcoins only tends to increase significantly each year. I wonder what will become of the altcoin market in 10 years. Perhaps we'll only see ridiculous altcoins. Currently there are 8108 altcoins, probably less than 500 are serious projects that haven't copied others, and the rest are copies with some modifications. Original projects were lost years ago. Nowadays, it's all copying and nothing is taken seriously; altcoins with ridiculous names are created and accepted by people.

[IjawMan]

Are you referring to altcoins or this forum? Which creativity are you referring to? It will be good if you can explain what you are referring to in a betterbthag people can understand.

There are innovations if you are referring to altcoins.

If you are referring to this forum, this is a bitcoin wallet+and not an altcoins forum), but there are more things on the forum if compared to 4 years ago.

Ya, I am talking about altcoins in particular. I don't expect Bitcoin to move fast or anything, so it's definitely directed at altcoins in general. Maybe I am an oldie, but there was a lot more innovation between 2015-2021 or so than there is now.

Where you have more and more rug pull scam coins this is what happens, before now it was about innovation to build what will stand the test of time among altcoins but presently the altcoins Devs are more into gambling than been creative with what could provide utility just as Bitcoin is.

This why you seeing Bitcoin moving faster than expected, people now know where real asset lies and they are aggressive with the adoption.

[RGBTC]

I believe we are no longer in the fintech innovation phase; we have truly entered a phase of selectivity. Every new project claims to be innovative, yet within the ecosystem, they often amount to nothing more than a tedious rehash of what already exists. They do not deliver genuine long-term innovation; instead, they care only about lining their own pockets before moving on a few months later with yet another "innovation."

[gwestcot]

Ya, I am talking about altcoins in particular. I don't expect Bitcoin to move fast or anything, so it's definitely directed at altcoins in general. Maybe I am an oldie, but there was a lot more innovation between 2015-2021 or so than there is now.

There was a lot more innovation and excitement back in earlier years like 2010-11 and it all dwindled down as the "gamblers" flooded the crypto-world trying to make "profit". They basically killed innovation in my opinion, specially ever since creating a new coin to dump on newbies became a piece of cake (introduction of tokens). At least in early years even the shitcoin makers had to have some programming skills and put some lipstick on their pigs metaphorically speaking in order to sell them. Nowadays they just lazily create a token with virtually no effort or cost.

That was what I was getting at. We stopped trying to solve real-world problems. I think I am fed up and will do something about it. Some may not agree with my assertions, but nobody will be able to claim the project is not at the frontier of the space. Somewhere along the way, people forgot that Bitcoin was a revolution and not just an investment. I have, for the past 8 years, always said that the prevailing crypto economics are misaligned with real-world usage. Meanwhile, I think our overlords are going to cram CBDC's down our throats before anything appreciable happens in this space.

[cryptoaddictchie]

Ya, I am talking about altcoins in particular. I don't expect Bitcoin to move fast or anything, so it's definitely directed at altcoins in general. Maybe I am an oldie, but there was a lot more innovation between 2015-2021 or so than there is now.

Bitcoin didnt innovate a lot compared to altcoins. But seeing altcoin innovations at a very fast approach, weve totally change its perspective. From ICOs, to memecoins, new concept, nfts and especially on AI narrative we can see a huge transformation and to be honest theres improvement but some take advantage of it and turn it into a scam machine for their own interest. Before youll find a serious developers developing real innovation but now you all you see are hungry devs posing as tech vibe but only goal is to sniff money from end users.

I love altcoin and I post a lot in this section before and discuss from time to time. But lately Id see countless same topics that arent worth a read.

[asriloni]

The paradigm in altcoins have changed. We saw so many altcoins competed to develop utilities in the past, but trend massively changed when meme coins pleague attacked us. Market is getting stuck with the same pattern to focus on chasing the hype on meme coin, and ignoring the utlities that potentially create new innovation in alts.

It's the reason you will be no longer seeing the creativity that happened a few years ago. It's because alts is getting priced by people expectation instead of focusing on the real usage of it.

The situation is worsening with no new money entering the crypto market while scammers sucking the liquidity everyday from issuing scam memes. It's exhausting the demand to the utility token, which is decreasing the interest from developers to develop innovations, then they choose to join the trend to issue new memes for gambling purpose.

You won't be seeing the era of 21-22 again when bunches of developers focused on utility instead of chasing the money from gambling on memes.

[gwestcot]

The paradigm in altcoins have changed. We saw so many altcoins competed to develop utilities in the past, but trend massively changed when meme coins pleague attacked us. Market is getting stuck with the same pattern to focus on chasing the hype on meme coin, and they'er now ignoring the utlities that might be created new innovation in alts.

It's the reason you will be no longer seeing the creativity that happened a few years ago. It's because alts is getting priced by people expectation instead of focusing on the real usage of it.

The situation is worsening with no new money entering the crypto market while scammers sucking the liquidity everyday from issuing scam memes. It's exhausting the demand to the utility token, which is decreasing the interest for developers to develop innovations, then they choost to join the trend to issue new memes for gambling purpose.

You won't be seeing the era of 21-22 again when bunches of developers focused on utility instead of chasing the money from gambling on memes.

I will try to spark the fire. However, I am just one man. My life's work may fall on deaf ears.

[New Judgement]

Not that the innovations are not there, there are creative innovators out there that are capable of developing Altcoins with real utilities. But I think these developers are looking at the behaviors of market participants to see what they are chasing after. These days most people are interested in just chasing memecoins, they are not interested in looking at projects that have utilities, but are running to where they can get the quick profit by looking for the next memecoins that will give them 100x.

If we want to see the innovative projects again in the Altcoins market, the market participants have to change their attitudes and say enough of the memecoins. The world is not short of creative minds, but what these developers are looking at the trend the people are running after. Nobody want to develop what the masses won’t be interested in. If this memecoins plague can fade away, the innovative projects will come back in the Altcoins market.

[gwestcot]

Not that the innovations are not there, there are creative innovators out there that are capable of developing Altcoins with real utilities. But I think these developers are looking at the behaviors of market participants to see what they are chasing after. These days most people are interested in just chasing memecoins, they are not interested in looking at projects that have utilities, but are running to where they can get the quick profit by looking for the next memecoins that will give them 100x.

If we want to see the innovative projects again in the Altcoins market, the market participants have to change their attitudes and say enough of the memecoins. The world is not short of creative minds, but what these developers are looking at the trend the people are running after. Nobody want to develop what the masses won’t be interested in. If this memecoins plague can fade away, the innovative projects will come back in the Altcoins market.

I think you are definitely on to something there. You do have to build around the potential user base. However, it's probably still better to go for more utility and have a fanatical but still relatively small following than a group that is large but comes and goes as locusts do. One has a hard base to grow from and the other just collapses at the first moment of resistance.