Not a 'Believer' in Any of These Projects Don't mistake anyt | LibreCharts

Not a "Believer" in Any of These Projects

Don't mistake anything written in here to mean that I am a "believer" in any projects.

I wholly disagree with Cardano's Ouroboros scheme + think that Polkadot has made a grave error in assuming a "Proof of Stake" blockchain structure over Proof of Work.

The difference however in my disagreement with those above two mentioned projects' implementations and those of other projects (like Arweave) is that the latter's proposal is simply not practical or possible in the way that they've described.

For Cardano & Polkadot, their proposals are more than possible. By that, I mean that they can definitely construct a protocol that functions in the way that they have described. Thus, my analysis and critique of those protocols is meta-analytical.

Contrasted with Arweave where they simply did not consider other critical facets of a p2p storage-based solution, which leads me to question the legitimacy of the project as a whole as well as the competence and intentions of the ones that designed it.

Projects Like Arweave Would've Blown Up in 2017

I'm sure that its gotten some attention, but don't expect to see that bullshit anywhere near the top 10 in its lifetime.

Investors are getting smarter.

Projects aren't going to be able to hustle the same bullshit project with grandiose claims like, "Unlimited storage that lasts forever", and just draw in a bunch of dopes dumb enough to take the project's word at face value because their website looks cool.

So if you're looking to see who the winners are, you need to start with projects that:

1. Have a comprehensive protocol design. An OG project like this would be 'LBRY'. Again, this is another one that I do not think will catch on, but LBRY is a legitimate construction. Their blockchain does everything that they say it does in their documentation. So they're not finessing or fleecing the general public. This is critical.

2. Have received VC funding from some of the top funds in this space. We're talking about Galaxy Digital, Andresen Horowitz, Coinbase Ventures, NGC Capital, Paradigm, et. al ; this is not always a surefire way of choosing projects, but it certain does help a whole hell of a lot. This is one of the main reasons for why I was mentioning 'The Graph' so much in the past.

3. Evaluate the ecosystem. Do they have a wealth of documentation. Is the content that they provide more substantive or is it more promotional? If its the latter, you might want to back the fuck out ASAP.

You Have Time

Was surprised to see so many people still trying to jump into private sales.

When you factor the R/R of IEOs & backroom OTC deals - its hard to justify putting one's self in harm's way. Especially when there's a chance to gain a shit ton of ROI from the time it gets listed on exchanges.