This is it. This is the breaking point, the moment of absolute fear. Everything is looking doomed. The chart is showing complete capitulation. An incredible project that was seen by bulls as a soon to be billion dollar gem, now sits at 7 million in valuation.
What made them so hyped? Well, they had an authenticity to them, they presented a simple vision but a real one that seemed doable. They were developers who worked with the Monero codebase. One of the top 3 contributors to Monero was a member of the team. supposedly The Monero community did not want to move to proof of stake, these folks decided to start their own fork. They came up with a use for the computers that would act as nodes on the network, other than validate transactions on the blockchain they could route data as well. This created Lokinet, and another app that was based on signal, Session. As a business there is a potential, but tragically there has been little headway.
Before I get ahead of myself, these staked nodes pay you 15% return annually, so you are incentivized. To counter this inflation they are creating an exit node marketplace where users can try and profit from providing a vpn like service for other users. The throughput of their service would be determined by the number of nodes that the exit provider wanted to access, the provider would pay by burning Oxen.
These were ideas that inspired confidence, alongside a messaging app with 250k users that was supposedly soon to have a paid version which also burned Oxen. It seemed like a workable ecosystem, where your node would grow in value and compute power as time went on and users utilized the product. one problem was a host of competitors made similar VPN coins, sometimes with better functionality often at the cost of security. But the real conundrum was why nothing was produced in 2 years time. Bug fixes, maintenance, upgrades. All of this sounds like talk, it sounds like a cop out. It sounds like bupkis. Investors lost faith.
The Transparency which in the beginning seemed like a great reason to support the team, after the 100th video, was almost a detriment. The team is starting to look like they are getting away with something, and its certainly not taking over the world. they look guilty of the ultimate crime, resting when you had a great opportunity. Why has their great idea not been put into work? Why has a marketplace and pro features not been created? Why has a UI not been improved. Investors stomachs turn in on themselves, were they wrong all along? They sell. Another meeting where the CTO talks about the great work they have done and its mostly just about refactoring and fixing bugs. The only positive note is that people are working hard and things are looking good. Where is the PRODUCT?! The Investor steams. How could he or she have been so wrong about a project. A Good Idea, he knows he can spot a good Idea, he certainly knows he can spot a bad Idea, how could this one have eluded him or her?
At this point anyone who holds this token is either a reckless gambler, a zombie or a believer in miracles.
Would it work?
Would the developers wake up and spend the day writing code and testing it to make it work?
Would it actually be built?
Would the leadership put in the legal and architecture work to ensure the success of the devs?
Would anyone use it?
Would it be marketed properly and have an actual use?
Would it go viral?
Would the product be good long enough, and it continue to grow?
Would leadership cut through red tape and passionate developers create a simple clean utility?
Would those involved in the project live their lives with focus and overcome the obstacles before them?
Would opportunity and ingenuity strike at the right moment?
Would the discipline to manifest that possible moment occur long enough?
In the end, remember one thing.
Hope is not a strategy.
Until then, lets hope this goes to $100 a coin. LFG.
Good Luck, Have Fun.
What made them so hyped? Well, they had an authenticity to them, they presented a simple vision but a real one that seemed doable. They were developers who worked with the Monero codebase. One of the top 3 contributors to Monero was a member of the team. supposedly The Monero community did not want to move to proof of stake, these folks decided to start their own fork. They came up with a use for the computers that would act as nodes on the network, other than validate transactions on the blockchain they could route data as well. This created Lokinet, and another app that was based on signal, Session. As a business there is a potential, but tragically there has been little headway.
Before I get ahead of myself, these staked nodes pay you 15% return annually, so you are incentivized. To counter this inflation they are creating an exit node marketplace where users can try and profit from providing a vpn like service for other users. The throughput of their service would be determined by the number of nodes that the exit provider wanted to access, the provider would pay by burning Oxen.
These were ideas that inspired confidence, alongside a messaging app with 250k users that was supposedly soon to have a paid version which also burned Oxen. It seemed like a workable ecosystem, where your node would grow in value and compute power as time went on and users utilized the product. one problem was a host of competitors made similar VPN coins, sometimes with better functionality often at the cost of security. But the real conundrum was why nothing was produced in 2 years time. Bug fixes, maintenance, upgrades. All of this sounds like talk, it sounds like a cop out. It sounds like bupkis. Investors lost faith.
The Transparency which in the beginning seemed like a great reason to support the team, after the 100th video, was almost a detriment. The team is starting to look like they are getting away with something, and its certainly not taking over the world. they look guilty of the ultimate crime, resting when you had a great opportunity. Why has their great idea not been put into work? Why has a marketplace and pro features not been created? Why has a UI not been improved. Investors stomachs turn in on themselves, were they wrong all along? They sell. Another meeting where the CTO talks about the great work they have done and its mostly just about refactoring and fixing bugs. The only positive note is that people are working hard and things are looking good. Where is the PRODUCT?! The Investor steams. How could he or she have been so wrong about a project. A Good Idea, he knows he can spot a good Idea, he certainly knows he can spot a bad Idea, how could this one have eluded him or her?
At this point anyone who holds this token is either a reckless gambler, a zombie or a believer in miracles.
Would it work?
Would the developers wake up and spend the day writing code and testing it to make it work?
Would it actually be built?
Would the leadership put in the legal and architecture work to ensure the success of the devs?
Would anyone use it?
Would it be marketed properly and have an actual use?
Would it go viral?
Would the product be good long enough, and it continue to grow?
Would leadership cut through red tape and passionate developers create a simple clean utility?
Would those involved in the project live their lives with focus and overcome the obstacles before them?
Would opportunity and ingenuity strike at the right moment?
Would the discipline to manifest that possible moment occur long enough?
In the end, remember one thing.
Hope is not a strategy.
Until then, lets hope this goes to $100 a coin. LFG.
Good Luck, Have Fun.