Crypto Thoughts — I write blogs to kill time
I know many will un-follow me after reading this blog post, but after writing the ICO reviews and about various Alt coins I have concluded that these are a great way to kill time. But are they worth investing? My though differs from many serious investors, in that, I feel the current craze of ICOs that is happening in 2017 and which may happen in 2018 is more like Tulip Mania. Some founders are also believing the same way. Many who just had a lovely idea, or even just thought that they should start out are now rushing to include the new Tokenomics into their idea, or inventing new ideas where tokens can be included.In East Europe and Russia ICO is a huge craze, Who ever wants to earn some quick money asks how to start an ICO?
And I would not disagree, even serious financial investors and hedge funds are getting into the craze of ICO. Their motivation like any other person is to make some quick bucks. Even the investors who are putting money in these ICOs are aware of the impending bubble. If I point out that the particular ICO is a vapor ware and that there are many such similar ideas already implemented or an ICO already exists, I get the answer — so what, they are in the ICO business to make some quick money, classic pump and dump. Many whales, who knows, may be doing money laundering or even worse may be fronts for some nefarious organization syndicate involved in the ICO business. Some white papers even claim to cut the bounds of regulatory control in the name of Decentralization. And hence all of these features makes it a classic case of a Token mania bubble.
When I started out I was a noob, was amazed as how a group of young minds with some outlandish ideas raised millions and was a serious follower of Decentralization and the so called Crypto maximalism. When I saw people wildly loosing money to scam ICOs and to hacks and phishing attacks, I felt that something needs to be done. I started my blog to give a qualitative view of the ICOs and differentiate the vapors from real substance. But as time passed my thoughts became incoherent and I lost the purpose. Crypto currencies are great, they are also tangibly intangible and they also are sometimes not what they promise and yet they are achieving what they planned out to do.
Yes when Bitcoin started, it wanted to create a trust less model of digital economy and at an extreme level also replace fiat. When I talk to people I just hear that how it will moon next month and next quarter and also see how it is mooning like hell. With all this hype though, there are the different elements who are established players in Bitcoin ecosystem aka Miners, Exchanges and Core Devs but are pulling and pushing to put each other’s dominance to the Bitcoin’s future via Segwit (lightening networks hubs) or Miner Centralization (via block size increase) which is completely opposite to the Bitcoin’s decentralized vision. This raises question on how Decentralization will work wrt Bitcoin and in many other projects (e.g Ethereum etc) that want to establish Decentralized Governance and DAO as their core proposition.
All of these were the conflicting negativity that has been impacting me for the last 2 weeks and may remain with me for the future. But then Crypto currencies, Blockchain has given me a new time killer, because we are human and should always try to achieve the next frontier. And today the next frontier is for a world where governance doesn't have to depend on few great figures and fail if the leaders fail. Rather we need systems that just work on their own and provide humanity to think on saving the world and improving the world to a more habitable place which the earth is quickly loosing. While anonymity is difficult to get in this highly digitized world, it is always necessary to try to be anonymous. Question is why? Answer is simple you do not shit in open (until you are in a 3rd world country) and hence world doesn't need to know your shit. You need your privacy or at least the semblance of it to live a normal life.
Finally
I have been meeting many people who are getting involved in Crypto currency some agreeing to its whole idea of anonymous transaction as a digital currency others wanting to bring in KYC, AML to bring it to main stream. Given that time and again Fiat has been the preferred mode of Money laundering, pushing the ounce of imperfect KYC, AML regulation to digital transactions as a whole and to Crypto currencies is currently the deal breaker.

