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Cryptocurrency discussions / Re: ICO, The story from beginning to end.
« on: November 13, 2018, 07:35:25 PM »
No matter how hard we try to prepare ourselves and take the time to advance in the objectives, there was something that just now at the end of 2017 began to clarify, the WhitePaper, that tool so named and little appreciated, apparently as each of the more respectable projects that I had seen, each one gave less value to that tool, there are those who do not read it, they see it as a requirement to fulfill only, afterwards I found out why, it happens that many pages where you can get information about ICOs is based in what appears in these documents, although many of them are at least poorly written, because there are some who do not even express the real intention of the venture, it is strange, I found many that seemed to be a copy and paste of another document, recurring words and apparently all based or argued their existence with words like "the first ..." "the only ..." things that for me, that I have been in the area of marketing, they only sound like commercial tricks to hunt unsuspecting, in fact they are the preferred phrases of the pyramidal systems.
The document had already taken shape, we had a route and a defined objective, now it would be valid to validate it with ordinary people involved with financial markets and Retail in general. The contacts generated a series of comments, recommendations and corrections, especially, because like these lines, everything is expressed in terms of personal experience and that is usually very regional, I had to write and correct everything to be neutral , so that another basic requirement happened, the document had to be translated into English since the native language was not valid, we had to convert to the more generalized language. That is the dilemma, I needed a translation of the document made by professionals, that sounds easy, any translation service could be used, one would think, but it happens that it is not, what is rarely taken into account is that if the translators do not have idea about cryptos, only make a translation and not an interpretation of the idea to express, so we should not only discard the Google Translator but we should choose the translation service that managed to interpret the very essence of the project. As usual nothing is impossible, just that it costs a little more, and in that sense the translation process cost more than estimated, and my book of expense annotation already had more in the part of expenses than in the objectives achieved.
In any case, it was approaching the end of the year and we already had what we needed, I already had a document, a work plan and many validations, we were in the process of testing many open source or generic use services for handling the solution, I do not know because all those who make an approach in this area believe that the focus is on making a new portfolio a new data manager, etc. Not everything is there, perhaps everything is to make better use of existing, not all WEB solutions require a new browser, the browser is already there, just use it more effectively and take advantage of the improvements that those dedicated to that specific business do, that is what happens with the portfolios of cryptos, for each project one is created, and if that effort was used to improve existing ones, success would be assured.
To my surprise in the process of validating the project, talking to a group that makes corporate image for many transnational companies, I was recommended to speak with a character who was very involved with cryptocurrencies, this character was an active part of forums and events where he represented the "Consensus" of many cryptocurrencies, I thought it was excellent, as well as knocking on the door of a great businessman, the problem was that he was advising at this time a government of an island in the Caribbean for the issuance of a currency that would be backed by an emission of public debt and encourage their use, developing new sustainable technology for the generation of electricity for mining cryptocurrencies, beyond the traditional solar and wind sources. My budget, although I do not believe it, was very badly beaten as to invest in a trip with stopovers in the Caribbean to interview with this character, although there would be no economic benefit, obviously if there would be at least one important learning. Which is why I discarded this visit and concentrated on finding out a little about what was going on around me.
The biggest surprise did not come from the fact that there were at least five medium-large projects in Venezuela, the most impressive was to see that they had been done at best, under the theory: Why do cats lick their crotches? Simply because they can. So basic were all the projects, they had been done because they could do them, there was no short-term goal or specific reason they wanted to expand. At the end of the day, to my regret, they were all scam projects, their goal was to raise money and their offer was that people would make money with it that they could turn into profits and capitalize it in FIAT currency immediately, big money launderers. Immediately obviously obviate any possibility of association, feel related to these people or characters was not beneficial to me, or for the project. I started to turn inadvertently into a phase that we all spent in some way involved in cryptocurrencies and I assumed my role as a preacher, trying to contribute what I could most in all the communities with which I was interacting, one of the conditions that affected me. self-imposed was, that I would never charge to teach anyone, while that person had the attitude to learn, discuss and at least leave me some of his business knowledge and so I have done so far.
Many of the people I met on the way, are convinced to have found the holy grail of wealth, nothing could be further from the truth, I have met people who once approached me to understand the business, or to know how to mine, which now give classes and classes on cryptocurrencies, although I always repeat that in terms of the value of cryptocurrencies, every hour there are 180 possible movements, and that no one unless it is a real humpback whale within the economic world of that currency, you'll never know what can happen.
This was a stage of disappointment, I saw how they cheated with the coins, sold with over-priced mining equipment, with a 200% profit at least and apparently buyers rather than investors were unwary paying for something that would never recover its initial value. I saw others charging for opening a free wallet to third parties, I saw how "experts" taught trading, when they did not have a portfolio of more than $ 300 invested, but they charged up to $ 500 to teach. I'm not saying that this does not happen, of course it happens and even worse, although this seems to be one of the most classic things in the stock market, where an employee who arrives in the subway, teaches financiers who arrive by helicopter, as invest your money, I'm still surprised that someone wants a witch to tell them what number of the lottery to play, and they pay for it. I will not go into explaining what is the Law of Large Numbers or Bernoulli's theorem. Just clarify that the general rule of the speculative markets for my concept are based more on the fallacy of the player than anything else.
If all of the above moderately could cause depression and anguish in those involved in the world of cryptocurrencies, for more, came the end of 2017, the Boom of cryptocurrencies, an endless number of uncontrollable circumstances that passed, since the end of the year in China, the sale of futures and the formal entry of Bitcoin into the world market, only paraphrasing some without order. If there were vultures and scavengers in the market that multiplied by 10 or 100 but in any case I was still in the middle of the tide of people trying to enter the market standing in the middle with my "whitepaper" in my hand, and my Limited budget to continue and a large investment made. The time had come to accelerate the pace and press a result.
To be continue…
The document had already taken shape, we had a route and a defined objective, now it would be valid to validate it with ordinary people involved with financial markets and Retail in general. The contacts generated a series of comments, recommendations and corrections, especially, because like these lines, everything is expressed in terms of personal experience and that is usually very regional, I had to write and correct everything to be neutral , so that another basic requirement happened, the document had to be translated into English since the native language was not valid, we had to convert to the more generalized language. That is the dilemma, I needed a translation of the document made by professionals, that sounds easy, any translation service could be used, one would think, but it happens that it is not, what is rarely taken into account is that if the translators do not have idea about cryptos, only make a translation and not an interpretation of the idea to express, so we should not only discard the Google Translator but we should choose the translation service that managed to interpret the very essence of the project. As usual nothing is impossible, just that it costs a little more, and in that sense the translation process cost more than estimated, and my book of expense annotation already had more in the part of expenses than in the objectives achieved.
In any case, it was approaching the end of the year and we already had what we needed, I already had a document, a work plan and many validations, we were in the process of testing many open source or generic use services for handling the solution, I do not know because all those who make an approach in this area believe that the focus is on making a new portfolio a new data manager, etc. Not everything is there, perhaps everything is to make better use of existing, not all WEB solutions require a new browser, the browser is already there, just use it more effectively and take advantage of the improvements that those dedicated to that specific business do, that is what happens with the portfolios of cryptos, for each project one is created, and if that effort was used to improve existing ones, success would be assured.
To my surprise in the process of validating the project, talking to a group that makes corporate image for many transnational companies, I was recommended to speak with a character who was very involved with cryptocurrencies, this character was an active part of forums and events where he represented the "Consensus" of many cryptocurrencies, I thought it was excellent, as well as knocking on the door of a great businessman, the problem was that he was advising at this time a government of an island in the Caribbean for the issuance of a currency that would be backed by an emission of public debt and encourage their use, developing new sustainable technology for the generation of electricity for mining cryptocurrencies, beyond the traditional solar and wind sources. My budget, although I do not believe it, was very badly beaten as to invest in a trip with stopovers in the Caribbean to interview with this character, although there would be no economic benefit, obviously if there would be at least one important learning. Which is why I discarded this visit and concentrated on finding out a little about what was going on around me.
The biggest surprise did not come from the fact that there were at least five medium-large projects in Venezuela, the most impressive was to see that they had been done at best, under the theory: Why do cats lick their crotches? Simply because they can. So basic were all the projects, they had been done because they could do them, there was no short-term goal or specific reason they wanted to expand. At the end of the day, to my regret, they were all scam projects, their goal was to raise money and their offer was that people would make money with it that they could turn into profits and capitalize it in FIAT currency immediately, big money launderers. Immediately obviously obviate any possibility of association, feel related to these people or characters was not beneficial to me, or for the project. I started to turn inadvertently into a phase that we all spent in some way involved in cryptocurrencies and I assumed my role as a preacher, trying to contribute what I could most in all the communities with which I was interacting, one of the conditions that affected me. self-imposed was, that I would never charge to teach anyone, while that person had the attitude to learn, discuss and at least leave me some of his business knowledge and so I have done so far.
Many of the people I met on the way, are convinced to have found the holy grail of wealth, nothing could be further from the truth, I have met people who once approached me to understand the business, or to know how to mine, which now give classes and classes on cryptocurrencies, although I always repeat that in terms of the value of cryptocurrencies, every hour there are 180 possible movements, and that no one unless it is a real humpback whale within the economic world of that currency, you'll never know what can happen.
This was a stage of disappointment, I saw how they cheated with the coins, sold with over-priced mining equipment, with a 200% profit at least and apparently buyers rather than investors were unwary paying for something that would never recover its initial value. I saw others charging for opening a free wallet to third parties, I saw how "experts" taught trading, when they did not have a portfolio of more than $ 300 invested, but they charged up to $ 500 to teach. I'm not saying that this does not happen, of course it happens and even worse, although this seems to be one of the most classic things in the stock market, where an employee who arrives in the subway, teaches financiers who arrive by helicopter, as invest your money, I'm still surprised that someone wants a witch to tell them what number of the lottery to play, and they pay for it. I will not go into explaining what is the Law of Large Numbers or Bernoulli's theorem. Just clarify that the general rule of the speculative markets for my concept are based more on the fallacy of the player than anything else.
If all of the above moderately could cause depression and anguish in those involved in the world of cryptocurrencies, for more, came the end of 2017, the Boom of cryptocurrencies, an endless number of uncontrollable circumstances that passed, since the end of the year in China, the sale of futures and the formal entry of Bitcoin into the world market, only paraphrasing some without order. If there were vultures and scavengers in the market that multiplied by 10 or 100 but in any case I was still in the middle of the tide of people trying to enter the market standing in the middle with my "whitepaper" in my hand, and my Limited budget to continue and a large investment made. The time had come to accelerate the pace and press a result.
To be continue…