Reviving a Dead Coin - Creating Value Rather than Speculating
Hello Steemers,
All investing is a form of speculation. Often speculation is associated with higher risk, but since risk always exists, speculation goes with the game. Yet, it is important to remember there are other ways to see gains, such as creating value.
In Crypto, there are various methods we can employ to create value.
- Improved/new technology
- Marketing
- Use cases for crypto
- Garnering more users for a crypto
- Less loved by me is fad coins, but you can certainly ride up a fad coin like Doge in its day
Some time ago, I was sharing my portfolio holdings in a video. In that video, I had a brief note that I held 2% of my holdings in Wyvern. I never really discussed the coin beyond that brief comment, and some my viewers asked, "What is Wyvern?"
https://coinmarketcap.com/currencies/wyvern/
Wyvern is a coin I spotted during a livestream some time ago, as a possible candidate that had some good things going for it. Since then, the lead developer has gone MIA. What I liked about Wyvern then was the branding and also the unique mining algorithm it employs. I also liked their roadmap, but now that the lead developer is MIA, I do not expect to see that roadmap continue.
After chatting with the 2nd in charge of Wyvern, a developer for the coin, I decided to continue with this project in hopes of saving this coin. For one, there were some initial investors that forked over about 60k. For two, it is a decent project that I do not want to see fail, so rather than bury my project which utilizes the coin, I decided to go public with it and continue development.
My project is as follows, to create a game which utilizes Wyvern coin for micro-payments. In that it gives a use case for Wyvern, and creates value for the coin.
Now the purpose of this post is not to cover this coin as an investment. This is a conflict of interest to do that. However, in my bias for the coin, I am attempting to garner attention to the project. I was considering waiting until my project was done to see how that turns out, before I let any of my viewers know. Yet, with the coin on the brink of death, I thought now I was the time to give it some attention.
It is also a way to spur your thinking on how you can create value, rather than just trading crypto.
Interested in Participating with Wyvern Coin Project?
- colonel_clink needs probono developers if anyone is interested - https://projectwyvern.slack.com/messages
- If you're interested in adding value to the coin you could start your own project
Interested in helping with my project?
- I need some 64x64 sprites, about 5 initially, and a fancy board design. I can do some sprite art myself, but with spending my time on the code, it leaves less time for making art. If you can do decent art, I can pay some in Steem.
Time to get back to work for me!
Very interesting post. I've always considered finding value the #1 reason for any investment but never really considered how I can bring value to an investment. As I sit here pondering this, I really see your point. I see how a developer or marketer can personally bring great value to a coin ala a Jerry Banfield via marketing or what you're doing with this game on the developer end. Very interesting and gives a new way of thinking about an investment going forward. Great post man!
Good luck with this Wyvern project Ted. SK.
Great information. Do you have any thoughts on EOS and its apparent new technological value creation for blockchain Dapps?
EOS is my favorite coin at the moment. I want it to keep crashing, I'm hoping we get it under $1 before Feb 2018 with all the coins that will come into supply.
Technologically, EOS should beat everything. In my view, EOS is similar to the next Google in terms of what it should become. Everything up until EOS has really been experimentation, and all this experimentation has resulted in one person fully understanding the future, and then also, having the skills and expertise to go there.
A lot of coins have a philosophy about "how things aught to be", such as bitcoin, and this philosophy hinders their adoption by the market because they hold on to points of functionality that users are against, such as high transaction fees. Most projects in crypto are totally clueless about the business world and the economy.... they're programmers, they are simply ignorant. Dan has it figured out, though, and he has it figured out better than Vitalik. Also, with this project, unlike Bitshares and Steem, he launched this project in front of finance and business people interested in blockchain, so he is even learning a great deal I think in terms of how to run a project.
Think of him like the Bill Gates of blockchain. Bill's success was a business-world success rather than a pure technological one, but in the end what he did was bring the technology to the users in the way the users wanted it. EOS is better tech than old Microsoft junk, but EOS does that same principle of bringing what end users are going to want, (high TPS smart contracts with error resolution) to the end users.
Thanks for the detailed response. I have a lot of faith in Dan as well and his description of EOS sounds revolutionary in it's creation of OS type services for blockchain and increasing transaction speeds to truly capable levels. I was a bit concerned about Tone Vays negative comments, but I guess everyone has their point of view. Thanks again for your comprehensive response.
I don't hold the bitcoin core team and /r/bitcoin reddit in high-regard. Tone Vays is part of that group. They are the reason bitcoin failed to scale for 2 years. Roger Ver is who I listen to about bitcoin. That said, this Segwit2x agreement did not come out of bitcoin core team, nor the ideas of people like Tone Vays.
Core team opposed any blocksize increase for years now. Their goal has been high fees, to incentive the market to use lightning network and blockstream solutions. As an investor, I think any sort of off-chain scaling will not be favored by the market but rather the market will disincentive that method long-term.
@crypto-investor
Nice Post!
Thanks for sharing this.
Interesting post. Thankyou for sharing @crypto-investo, help upvote my.
My progress I got done tonight:
I hope your crypto does well! Imagine if this post gets huge and immediately after the value of Wyvern goes up. Would really demonstrate the power of STEEM :)