Every single day this summer I’ve woken up with messages from friends about the crypto markets dying. People are panicking. Even those who I thought were true believers of crypto are second-guessing themselves.
They are now dumping tokens of projects (below ICO price and at a steep loss) that they encouraged me to look at only a few months ago. Friends guaranteed it would go 10–30x because it would change the world, the team were all stars, top tier funds invested, and the project had major hype.
Well, what happened? Did teams stop coding? Did we stop making progress on blockchain technology? No. Prices tanked. That’s it.
I only speak in ETH, but the hype in 2018 was real. Major confidence has been lost.
The capitulation is real
Many people I know were quick to get out of the market this summer. They had strong hands from January through March. That proved to be the right choice with a nice run in April/May at which point the entire market started to downtrend. Looks like they weren’t the only ones that have capitulated.
The weak hands are being shaken out. That’s okay. I guess they didn’t drink enough Kool-Aid. These are not the true believers of crypto. Otherwise, they wouldn’t have stopped supporting projects they originally thought would have and impact in this world.
Building something of lasting value
You will undoubtedly hear tons of people you trust talk about how the crypto bubble has burst. And you may even see hundreds of people flocking to a project’s Telegram asking about why the price of their tokens are dropping. I hope you can find it within yourself to ignore it.
This summer has been the most fun I’ve ever had in crypto. Heads down building. You really find out who your true supporters are. Connecting with and helping other good people who strive to grow this ecosystem.
It is an amazing time to be a builder right now. The market has filtered out all the noise. Those that are creating real tech, for real users, and are building something of lasting value will be here to stay. They will see the blockchain ecosystem grow — regardless of the market conditions.
We are at the ground floor of something special. Being part of this movement, the grind, and the journey is what makes this so much fun. These kind of moments happen only once in a lifetime.
Builders gonna build.
—Sherman ❤️
“First they ignore you, then they laugh at you, then they fight you, then you win.” —Mahatma Gandhi
Website: www.ravenprotocol.comTwitter: twitter.com/raven_protocolTelegram: t.me/ravenprotocolMedium: medium.com/ravenprotocol
P.S. If you’re a real builder, you should join us at Raven.
Our mission is to create a network of compute nodes that utilize idle compute power for the purposes of AI training. Speed is the key with faster training times and it will be more cost efficient than conventional cloud infrastructure.
No centralized organization should monopolize this power of AI as it can be potentially harmful to humanity. We want to put that power into the hands of the community. We believe in the redistribution of wealth to developing nations by educating them on crypto and how to use mobile devices to earn tokens.
We are hiring and we are open to strategic partners that are true believers of crypto and wanna see this ecosystem grow. We are working with only the best of the best. The bar is extremely high, but if you are still around and you are not worried about falling prices, you have passed the 1st hurdle :)
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