Curator Cat Wonders: Whatever Happened to FUNDAMENTALS in the World of Crypto?

Without a doubt, the Cryptosphere is a volatile place. We watch things go up wildly and come crashing back down wildly. I can certainly see why people compare this to the "wild Wild West" or living on the frontier!

Expect the unexpected: Being photobombed by the dog... wearing the "collar of shame"

BOOM!.... Fizzle...

But beyond that; beyond the moon shots that suddenly come crashing back down, there seems to be another trend: Too many project start off with a lot of hope and fanfare, look really promising for a while, and then gradually fade away into nothingness as people lose interest.

Or maybe people don't really lose interest... maybe they are simply fickle and ultimately no more than "Fairweather Friends" who are not that interested in the actual base project they invested in, just interested in the profits they can make. Thus, when a project they invested in is no longer providing outrageous yields, they simply drop it like a hot potato and move on to the next thing that earns outrageous yields.

And therein lies one of my ongoing concerns with respect to the entire Cryptosphere as it exists at the moment: there seems to be this overwhelming emphasis on ”making sky high profits” and relatively little regard for whether or not the underlying premise that delivered those great initial results is actually a long-term viable project.

What's going on, here...?

Yes, but...

Maybe I'm just being old fashioned — or ”not thinking like Web 3.0” — But shouldn't the fundamentals play a significant role here? Stated a little differently, do good projects deserve to fail for no reason other than not being able to sustain the meteroric gains of moonshots?

Or has cryptocurrency — which actually had an extremely idealistic core in its earliest incarnations — just become another cynical and greed based profit center where the only thing people really keep their eye on is how much money is coming into their pockets?

And what happened to ”making the world a better place?” Or did we simply decide that ”a better place” now consists of scoring a Lambo whenever something we're invested with suddenly goes 50X?

Yes, maybe I'm a little cynical.

But I watch some of these projects that seem to me to be a little more than promises and vaporware rocket to the moon, while projects like Hive with its constantly expanding ecosystem continues to labour in relative obscurity. I even watch it happen with some of the projects on our own Hive-Engine... off to a running start, people take profits, the project slowly fizzles into nothingness... even though they are still doing the exact same thing!

That strikes me not a reflection on Hive, but a reflection on where the mindset of the broader Industry seems to be.

Is it that those who actually do the work are not nearly as "sexy" as unicorn dust and virtual pizza dough?

Again, maybe I'm cynical, but projects that seem to exist for no purpose other than how much money they can put into the pockets of investors strike me as having very little to do with making the world a better place. What's more, what they "offer" is almost never sustainable!

Greed rules?

Of course, I may be completely missing something here… after all, I’m just a CAT!

=^..^=
Curator Cat 21-AUG-2022

Posted using Proof of Brain