For the first time in history, you have a chance to speculate in startups, communities, currencies, individuals, and organizations without the need for third parties. Digitization of assets, decentralization of trust and democratization of finance is happening right now. These have huge implications. While it may seem we have a long way to go, adoption of new technologies has accelerated at a dizzying speed and you should not stay out of the loop.
Two of the roles one can have in this revolutionary ecosystem. You could use blockchain solutions as an alternative to existing systems. Which often doesn’t have a middleman or a single point of failure. It doesn’t care where you live or who you are. It gives you a decentralized an often more private and secure alternative. With increased adoption and use cases, most of the people in this ecosystem will be users.
You could also be the speculator like most of the people in this ecosystem as of now. Trade crypto assets In a highly volatile market that even seasoned investors are not used to. A market that attracted investors, institutions, scammers, authorities, developers, activists and all kind of opportunists and enthusiasts.
With thousands of crypto asset options and so many moving parts, a smoke screen created around uneducated investors. We have seen people losing all sense of direction, yet aiming for the moon. Taking bigger risks, following rumors, connecting dots that don’t even exist, gambling and losing in impatience. The advice they get from their peers is to HODL and believe in the technology. Meanwhile, big enough capital moves the market in favor, a propaganda campaign makes a manipulator rich overnight. Market makers, hardware producers, legislators, media giants, and exchanges play the game according to their rules.
Lots of yet another business disguised themselves as innovative and disruptive companies. A database with signatures described as blockchain and the ultimate solution. Everything is trustless, distributed, smart, secure and scalable but actually, they are not. Because of all this, the hype exceeded the short-term potential and the greed the majority showed answered with a correction.
The dark picture of the status quo was to frighten newcomers. Since this industry is growing most users are new to crypto and investing. They should know this is the wild west.
These will all change in time. The fragile market will become less open to manipulation, more useful applications of blockchain will be implemented, problems like interoperability, scalability and user experience will have better solutions and with some basic regulations, crypto assets will turn into potential investments.
The thing is our behavior as a community has the power to prolong or speed up this process. That actually is the one thing we can do. If we continue to feed Ponzi schemes and empty promises it will result in the loss of trust to the market. And mass adoption will definitely require regulations. Or before that happens, we could act more responsibly by doing more research, asking questions that shake the foundation of an asset and not repeating mistakes like Mt.gox that set us back a year or two.
One thing we don’t like about motivational writings is when it ends life continues the same. We are result oriented and we are not here to waste time. After listing all the problems we see we came up with a solution. We realized that the most critical problem about communities behavior is they don’t understand or agree on how a successful and profitable business works. The majority uses market data and technical analysis to compare one product to another. However, we know that the secret ingredient that makes the business successful is not its charts but their hunger for success. While the product has a role, the team, and their effort gives the most important clue to where they are headed.
Knowing that in this day and age majority of people are too lazy to make detailed research on where they put their money in, we are creating simple ratings of these assets. Hoping that people will raise some questions before they act. Hoping that this will start a discussion around the valuations and raise awareness. We are refining the ratings with the feedback of category-specific experts and creating a resource that not only informs investors but also holds companies accountable. One that creates a positive feedback loop between the community and asset makers. One that increases the barrier to entry which in turn raises demand for quality assets.
We started this journey with the mission to improve the ecosystem. We are impartial towards rated crypto assets. We do not invest in crypto assets that we rate, we have no financial gain from a high or a low rated asset. There is no string attached to it. This is our open source project. You can be a part of it by validating or contributing to the ratings.