Skycoin community engagement — a fundamental strength
Skycoin community engagement has grown significantly throughout the 2018/19 bear market. While other coins are slowly disappearing into oblivion, Skycoin continues to gather more and more loyal supporters who share vision of Synth and the other Skycoin developers.
The importance of strong community engagement cannot be overstated when it comes to bootstrapping new forms of digital money. Strong participation fosters contributes to a positive feedback loop in which more people are driven to join and participate.
Some great discussion is being held on r/Skycoin from an increasingly large number of active Skyfleet members.
The most ironical thing in crypto is that there are coins with 100 million market value and without even a github project started and Skycoin with one of the most accomplished github project is not heard by most people. I think anyone who wants to understand Skycoin just needs to start at their github page. Chances are you will not know what is going on, because there is so much going on. But you will quickly see that Skycoin is not just a coin. It is a platform with so many things working together.
They even have a language called CX which is much more accomplished than Ethereum’s solidity(I think the only other coin with a turing complete language). Creating languages is one of the most difficult tasks in computer science. Even Tron has not created their own language and is using Solidity. I think when the next wave of Crypto starts, Skycoin would be one of the projects leading the way…
This has been an ongoing point of discussion, that the market is not yet arrived at a valuation for fundamental development. ERC20 tokens lacking their own blockchain, coins that have been 51% attacked (Bitcoin Gold, Ethereum Classic) and coins with no real world use case all have large market capitalization compared to their fundamendal value.
Like many have said, mature market participants will soon correct this imbalance by investing in solid projects, and the cream will rise to the top.
Debunking Skycoin FUD, January 2019 Edition
Another great piece of Skyfleet analysis was done by u/Bongald in response to the Skycoin FUD that is currently in vogue — that Skycoin is some sort of exit scam.
Despite their tactics are raising subjective red flags, correlation with the fact that some exit scams had red flag tactics doesn’t equal the causation that Skycoin’s end game is to steal money and provide no value in return. Especially with all the legitimate and obvious back end work; GitHub commits show this. (I am subscribed to their repos and nothing but work is being done — they went from 39 to 45 repos from Dec to Jan). Also, their reasoning for prioritizing one portion of their project over another makes sense.
CX/pyskycoin is necessary for DAPPs to be created and is also the thing that will take the longest incubation time out of all 3+. (People need time to learn code and distribute this into school systems etc)
Skywire comes next because that is what funds the majority of this operation in the in-term. It is the economy of Skycoin, bandwidth will dictate coin hour price which is essential. This needs a lot of time to get running optimally and to test and fine tune it needs to be centralized for a time.
Obelisk — the big elephant in the room and really why everyone considers this project illegitimate. Well I personally disagree. Patents to a proprietary consensus algorithm that is far more efficient and effective then POS and POW in the crypto world is a fucking gold mine. If this was my business I’d protect my ass on every front to ensure this wouldn’t be copied. Let alone the initial work for this is all developer and no community, everything else can be pushed by the public (which will take the longest). All the above is reason on top of this to make me confident Obelisk will be implemented after Skywire release.
The 2k miner — I am sure the miner price was put at 2k to help fund the operation, but also while in the early stages; only allow people really committed in on rewards — this doesn’t mean exit or scam. Presumably you will make (at a minimum) your investment back in 2 years (if Skycoin doesn’t rise/drop in price and if you don’t sell it above/below the price of your reward date). You could have it paid off in a few months if the market goes your way.
The distribution argument against Skycoin is meh. The supply coins are time locked and are distributed over many many years — they only have so many at the moment to incentivize Skywire, pay out bounties, promote and market at this time. As far as I can tell they have come up with a controlled distribution system that ensures success of Skycoin. Sure they are going to make s boatload of money, but the people who help fuck over cyberbalkanization of the Internet deserve that.
Drama means nothing negative to the masses in the long run, maybe an issue with a cliquey crypto sub, but there is far worse useless drama in this world that gets all the attention. (Kardashian’s?)
Skycoin previous scam calls that fell flat:
- Exit Scam (Mid 2018) — Kidnapping a front to dump millions of coins on the market and exit.
- Vapourware (Late 2017/Early2018) — No actual hardware
- No Faces to the Project (Pre-Mid 2018) Synth is the only one and he doesn’t use his real name.
- Synth is a Drug Addict (Still here?) — Look at how he laughs and rocks/shifts in his chair while on webcam interviews.
- John Macfee got a tattoo of Skycoin and is promoting it in his 2020 Don’t Vote for Me POTUS push due to large payout from Skycoin team — History of shilllord shilling, correlation = causation obviously.
Skyfleet twitter engagement grows
Twitter is becoming a key battleground in the war of ideas. There are more and more Skyfleet members participating in efforts to spread awareness of Skycoin on this platform.
Skycoin telegram — the vortex swirl
Telegram remains the chief platform for Skycoin discussion and news. The main Skycoin room has currently 9260 members, a number that is consistently fluctuating with a consistent upward trend as new members join and bots are removed. The other notable Telegram groups include Skywire, at 2484 members, where all technical support for Skyminers happens and Skycoin Meetups Worldwide where people organize and post photos of Skycoin information sessions.
Skycoin had several massive milestones in 2018, one of the most impressive was setting up a decentralized VPN network of 9000 nodes dispersed all over the world.
Looking forward to 2019, there are many more that will set Skycoin apart as a top-shelf coin. These include the sale of the hardware wallets, the implementation of Obelisk consensus algorithm and the construction of wireless mesh networks.
With the launch of launch of Skywire main net and bandwidth payments, Skycoin is on track to being the first digital currency with economic use case underlying its price.
This is not investment advice. Always do your own research.