Zero-sum game — a situation in which one person or group can win something only by causing another person or group to lose it. (Merriam-Webster)
The Cannibalistic Behavior Has to Stop
My least favorite part of the crypto-sphere is the interesting phenomena of tribalism and the perception that we’re all playing a zero-sum game. With people investing far more than they can afford to lose, in a hyper volatile and emerging asset class, I can understand the emotional swings. But it just isn’t productive behavior. Just because your platform of choice has a feature that is shared by another, doesn’t mean you’re in direct competition exactly. Let’s examine the traditional non-crypto marketplace and discuss why I think overlap in tech and services is a good thing.
Competition Breeds Innovation
In the United States, we ban monopolistic behavior for a reason. It helps the consumer out by keeping prices dictated by free markets. It also drives competition, which in turn promotes innovation. Why buy a Ford for $25,000.00 when the Chevy will do the same thing plus has better performance, fuel economy, and reliability. In this case, either Ford has to lower the asking price or give you more car for the dollar. Crypto doesn’t have to be any different.
Heres a shortlist of projects with similar objectives:
Disclaimer: This isn’t financial advice. I do not hold any of the to be mentioned coins/tokens other than ODIN.
Steemit, Minds, Kin, Sola
ODIN, Adamant, Loki
Crypto Debit Cards
Bitpay, Coinpayments, UTRUST
Give them a look and as always, do your own research. Support the projects you love and adopt a more pacifistic behavior toward those you don’t.
The Simpson Did It
Give this clip from one of my favorite South Park episodes a look if you’re unfamiliar with where this section received its name.
“Ha! you’re making a dAPP for that?! (insert crypto project here) already did it! Not sure why you’re wasting your time!” -every bag holder on Reddit, 4chan, Discord and Twitter.
Cop outs like this are more a pet peeve a mine than anything else. And if I’m being honest, I think it’s just an excuse for keyboard warriors who are afraid to try anything for fear of failure.
The Simpsons, beloved animated comedy series has had some of the most brilliant television writers to have ever laid finger to key — Heres a shortlist, (Bill Canterbury, Bill Odenkirk, Conan O’Brien, Dana Gould). Keep in mind, none of these names even cracked the top 3 on Ranker’s list. Conan O’Brien and Dana Gould, arguably two of the greatest comic minds in the last forty years didn’t even make the top 15.
This is all to say, yes; some projects are going to get there first. Ethereum, with its all-time high market cap valuation of 122 BILLION dollars, was very attractive to some of the most talented developers and researchers a resulting in a concentration of innovative ideas. While inset your favorite crypto project may have gotten there first, it doesn’t mean an attempt at better execution isn’t worthwhile. It just means they laid the groundwork for the entire ecosphere to improve.
About the author
Christopher Reeder is ODIN Blockchain’s Lead Content Strategist and Technical Writer. As an advocate and researcher, he is exploring technology’s impact on privacy.
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