It has been just under three years since I've joined the subreddit, and just over three years since I started being interested in cryptocurrency. After countless hours of research on the various industries being disrupted, after reading whitepapers, parsing through the profile of team members, watching recorded conferences and making calculations based on demand and market size, I can write with full confidence that the overwhelming majority of the community of crypto investors is retarded. Never have I seen a market that is less focused on growth objectives, or that circlejerks harder to news and announcements whose impact they don't even try to measure or fully understand.In all honesty, it's not that surprising. The tech itself is more or less difficult to understand (anyone with an engineering, computer science, economics or finance background should be able to grasp the underlying concepts and realize why distributed ledgers have vale, despite not being familiar with every key concept) but the extremely hard part is picturing exactly how efficiencies are bound to be created on an industrial level, and how impactful they will be. In other markets, this is why there exist ratings, panels of experts, consulting groups. They perpetually gauge the health of various industries and make predictions based on trends, to help others make informed decisions. Even then, a layer of speculation (and thus, manipulation) always exists, but the ratio of speculation vs. real demand tends to be in a different league entirely.Despite knowing or suspecting this, however, the same shit happens every time here. Bitcoin starts to drop, and the trolls come out of the woods to spread their depressive thoughts onto everyone else. Altcoins start to shine, and the morons who bought during the frenzy and are seeing 10% gains for the first time in weeks, months, if not ever, start tugging each other and patting themselves in the back and writing essays as to why DPoS experiment #898 (which doesn't even have a main net yet) is on track to being massively adopted and is definitely the best buy opportunity of the decade. Bitcoin starts to rise again, and suddenly all money floods from the rest of the market to feed Big Daddy and every single other project is a shitcoin again and they'll never amount to anything ever.It is beyond frustrating to see how easily everyone is being manipulated. Short-term fluctuations in the market doesn't make you right, and it doesn't make you wrong either. There are basically zero candid discussions on the state of the technology and how it stands relative to adoption. There are basically zero attempts to map out the ecosystem in a comprehensive way so that 'investors' can have a clear picture of how some projects might interact with each other, allowing us to formulate enlightened guesses as to how much market share each might capture. Nobody seems to give a shit about decentralization at all, but I suspect for the vast majority, it was never about freedom and fairness, only profits.Everybody strictly only celebrates when the market moves up without ever questioning the validity of that movement. When an asset inflates without any fundamental reason, its only achievement is the creation of a bubble that will inevitably result in severe losses for the majority of investors.With the size of this community (this subreddit alone), we have the power to warn others and to influence the market by infusing some rationality into it. So please, take the time to encourage others to look beyond immediate gains and to research the field. Take the time to criticize twitter "influencers". Take the time to reach out to professors, industry professionals and other knowledgeable experts to ask them their thoughts about specific projects and the market as a whole. We desperately need to create a global stage on which there is informed discourse, else this market will never truly grow.
Submitted June 27, 2019 at 07:58PM
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