The FUD monsters continue to hammer a square peg into a round hole. In this I-told-you-so phase all of the blockchain bears are looking to confirm that the crypto bubble mimics the Dot Com bubble exactly. This is very easy to do when you ignore the facts.
Fact One
Cryptocurrency has already crashed harder and faster than Dot Com ever did, and it's happened multiple times. How many development teams have gone under? Less than a dozen out of over 2000 blockchains. So far, every dev team that's taken a hit ended up that way because they gambled on the market. Everyone who played it safe is doing just fine.
Also, how many Dot Com companies had the option of laying off 70% of their employees while still managing to stay in business? Literally none of them. This 'survival-mode' option Ned is employing does not exist in the world of traditional capitalism. Stinc doesn't have a product they need to physically ship. They don't need human resources or marketing or salesmen or logistics or accountants or quality assurance or low-level management or receptionists or unskilled labor. The core of Stinc is a development team. Everything else is ancillary.
Fact Two
Just because a development team goes bankrupt doesn't mean a blockchain will disappear. The development team is only a small part of a cryptomunity. Blocks continue to be produced even if development halts. This fact is evidenced on a daily basis. Our blockchain isn't being modified 99.9% of the time.
Where would we be if Stinc went bankrupt before HF20? What about HF19 or HF18? I speculate that we'd be pretty much in the same boat we're in now. Not much has changed. Development is a brutally slow process.
When a development team abandons ship it's up to the community to pick up the pieces. There are a lot of talented developers here that have zero affiliation with Stinc that will continue on here through thick and thin. When I see that 200,000,000 coins are still powered up I feel that's a very strong statement being implied. The vast majority on this platform want to see it succeed and is willing to stake their money on it. The perceived fickle value of the market cap can be drastically altered up or down by a single whale.
Crypto is zero-risk
We exist on borrowed time operating in an economy leveraged up to our ears in debt. The imbalance we've created is so tenuous that it could cascade into disaster at any moment due to a series of unfortunate events. Humanity is currently a life-threatening cancer to Mother Earth. If this cancer isn't cured there will almost certainly be a massive purge of life worldwide.
Humanity has proven time and time again that absolute power corrupts absolutely. This leaves us with one option: to create transparent systems of governance where no one is in charge. Cryptocurrency is the path of least resistance to this basic necessity.
From my point of view, this is a no-brainer. We can either work toward curing the cancer of centralized corruption, or we can fight for life in a post-apocalyptic hellscape.
Conclusion
It's time to stop worrying if your money is going to turn into more money. Try worrying about something more important, like how much terrorism you're supporting by paying your taxes or by paying that 1% fee at the bank or that 20% fee on your credit card. Try worrying about the propaganda machine that twists it around and convinces the majority of the population that it's actually buying weed and cryptocurrency that's causing all that terrorism.
Worry about how they use racism as a weaponized distraction. Who's fault is it that you lost your job? The corporation that outsourced a million jobs in order to make 2% more on the bottom line? Or that brown guy who crossed the border illegally?
Worry about the plastic continent or the pollution that gets rained down on everyone daily. Worry about how the law incentivizes this reality that we've created for ourselves. Everyone should take a look around and realize how small they are from time to time. We could all use a little more perspective. Be a part of something greater than yourself.
Return from STINC Has Already Gone Bankrupt by Dot-Com Standards to edicted's Web3 Blog
