Thanks for showing me the ropes TPTB. You have proved that many of todays crypto companies cannot perform what they claim. My initial portfolio selection sucked, forcing me to step back and re-assess what is even possible in crypto today.
Early adopters can crash the share price at will. You cant escape the the early bird gets the worm principle, since it is time dependent, so I must disregard equity distribution concerns. Known equity distribution is history. The choice to invest in the future is mine alone, but I will not choose proven liars (who do not indemnify) like Evan.
Who cares about a central entity taking control of a blockchain? Not me. POW coins are all susceptible to this and so far none of the big cap coin miners have taken advantage of their power because they would destroy the value of the coins that they mine if they did.
I can sleep even easier with POS since anyone can buy 51% of the company and make me rich before they destroy the value of the company which is an added benefit of POS attacks.
Me and the average Joe care more about "governance and services" than "decentralization and distribution". Here's our revised portfolio
1. Hashocracy (BTC) bitcoin miners will not collude to crash the value of the coins they mine, but if they do seppuku, then I own:
2. Meritocracy (BTS) where I can vote those miners out, and vote in the miners who perform valuable work for the company. "Valuable work" such as file Bill Gates paperwork:
https://bitsharestalk.org/index.php?topic=21842.0Do you really think that this miner is going to destroy the value of the coins that he just worked so hard to raise the value of? I don't know, why don't you ask him yourself.
3. Hybrid Hashocrcy/Meritocracy Decred If you remember correctly, it was you, not me who first suggested this coin after informing me about Evans past theft with DASH. And of course, you are correct in assuming that the founders are a group of like-minded individuals who will control the vote initially. Actually, the initial distribution of
every coin is a group of people with something in common. This is just a function of tribalism. I am free to purchase 51% of all Decred, and control this company. But dont you think that they would just leave to form another community with the money that I just gave them? Thats why worrying about initial distribution is a waste of time. If you dont agree with the prevailing views, then why are you going to move into that community in the first place?
The development directions of both DASH and Decred are heavily dependent on the desires of the founders, but if I dont like it, then I can always create my own coin, or simply decide to not join. So what you have to ask yourself before joining
any POS crypto community is simply:
Do I agree with the prevailing ideology of the majority?
I noticed that NXT has both public mining and shareholder voting on development decisions which seem to place it squarely into this category. So it looks like I have 2 choices: Decred or NXT. Its a toss up.
File Storage sector OK, so Maidsafe is not safe, but what about Alexandria/Florincoin who use IFPS? Im not actually sold on this sector simply
because security is paramount, and if it is hackable (as you have proven it to be) then it defeats the purpose. I will be waiting to try some polished products before buying into this sector. Furthermore, it would seem logical that storage is just a commodity that can be easily replicated and due to the Tragedy of the Commons as you say, will cause cheap and effective imitators to crop up because it would appear that when the only metric for success is price (price per megabyte), then it wont matter which network you are on (name brand or Brand X who cares). I dont see how one storage company can differentiate itself over another by anything but price (how do you win the "network effect" here?), so Im not buying into this sector for now.
Record storage sector Factom I read your F-Factom rant, plus accounting for the realization of commoditized storage problems of scale (low margin business), I have decided to currently refrain from investing in this sector for now, unless you know of any potential effective solutions.
Social Networking Synereo Yes, it does seem kind of Pie in the Sky, and again, after reading your rants, and trying to understand a single word of their hangouts, I cant tell what is going on here besides the fact that they are still in the creative planning stages, and nowhere near as finished as Peertracks, which seems to be trying to encompass the social networking (attention economy) aspect, which is why I have lumped these 2 categories together.
https://youtu.be/aQM4P7uFgk4https://youtu.be/yWOUJehIfJcCan I ask you, TPTB, how far along are you on
your social networking project? Because this is obviously a tremendously lucrative space that will be sprouting competitors continuousy for years. What other competitors are there in this space besides Synereo, Peertracks, and Alexandria?
This brings me to the World Computer category, and according to Roachs post, if Ethereum pulls this off, then Vitalik is 10x smarter than Satoshi. Therefore, I will have to wait until Augur releases before I buy Ethereum, because, this platform certainly does not look scalable. I will wait to see if they can create a valid POS network and a valid partitioned network first.
Is this crypto business sector of World Computer invalid? Or is this what IOTA is supposed to do? Im completely lost on this sector, and this new IOTA coin everyone is talking about. This sector is going to take me some more research.
Wow, my portfolio is shrinking by the minute. Lets see, what sectors are left. Oh, yeah, anonymity solutions. It looks like I will have to wait for Zcash, eh? When is this coming out? The top 3 coins with anonymity (DASH, BitShares, and Monero) are all in the same league, but Zcash (or Zerocoin /ZSnarks?) is in a whole other universe? Ill take your word for it, because those threads are brain busters!
Well, now my portfolio only consists of a handful of coins: Bitcoin, BitShares, Peertracks, and Namecoin giving me a scam-average of 13% which is twice as good as the 24% average! I'd say that is a pretty awesome score. What's yours? You will need to recalculate the average each time since it keeps changing.
I still need to research the World Computer, Social Networking sectors and wait for Zcash.
One final question I have for the peanut gallery:
Is there nothing else out there that is effectively delivering what they claim to do (business solutions)?
BTW, whats with the ABJ dis?
https://www.youtube.com/watch?v=VQGlcLFhwE0#t=16s