Bull market, bear development
This is a weirder opinion piece than what I’m use to. So it might be a bit incoherent.
In this market, where everyone is right, and no one is wrong, its pointless trying to be the product that is “right”.
In this market, where scams increase in value as much (or even moreso) as legitimate projects, the legitimate developers become demotivated.
In this market, releasing a product without a token is pointless, you can’t attract capital, you can’t build a contributor community, and the product can’t stand on its own merits.
In this market, if you don’t release a token, your code will be forked within 24 hours by an anon team, and a token will be added. Then you get to be told how much better the fork is than your own work.
This market rewards the scammers and the copycats.
I’ve had the following conversation more times than I like to admit, where an “investor” will tell me they invested in a project that they 100% know is a scam, they’ll comment, “oh, but we don’t mention or support them publicly”, and they’ll defend with “the allocation would have been filled up anyway, we aren’t going to say no to free money”.
This is the state of the market, where scams are supported, because it is seen as “free money”. Innovation is curbed because the innovators are too afraid to release, or they are forced to release with a token, then they get to spend 99% of their time needing to focus on the token, instead of the product.
There are a few projects out there, that I use to have immense respect for, but they went from trying to innovate, to just releasing a new token every other week to increase their value.
I know traders and investors have a saying “do you want to be rich, or do you want to be right”. I never understood this saying, but I finally do. Unfortunately, I want to be right.
It frustrates me that I have 4 new completed products, but I’m too afraid too launch any of them, because I know they will simply be forked with slap on tokens. And I don’t think I’m the only one. We’ve started seeing copyright and business license rights come into play.
Bull markets, cause bear development. And bear markets, cause bull development.
No real point to this, like I said, its a weirder opinion piece. I just needed to write it.