Why we love the fact that we’re building in the crypto bear market
Everyone in the crypto community naturally loves the bull market. It brings new interest in crypto ecosystem. These new people get fascinated by how suddenly they can make a 30%+ return on their capital in a matter of couple of days. The old people in the ecosystem start to close their positions and reap profits from their previous investments.
Everyone makes money (alteast on paper), and everyone is happy!
But we are a little different. We like to see ourselves as builders in the crypto ecosystem rather than investors. We are in it for the technology! We have previously built a crypto exchange named KoinOK (www.koinok.com) and it was now time for us to navigate the crypto ecosystem more deeply and build new products.
We feel it’s better to launch during the bear market than in the bull market. During the bull market, even adding “blockchain” to a company name can boost company’s share price by 20%. We all know this is a manifestation of irrational exuberance for a new technology. All around such noise, the one with more resources gains more attention than the best quality projects. For a project like ours, it would be more difficult to garner the imagination of crypto enthusiasts when everyone is more interested in making money. On the other hand, only “quality” can survive in the bear market.
Masmic is essentially a bet on an idea. An idea that blockchain technology can also be used to create “meritocratic” social network using crypto’s ability to enable micro-transactions. We felt that its second order effect by opening a way to “own crypto by earning crypto” would make positive contributions to the growth of crypto ecosystem and bring new interest in the ecosystem without depending on the hype involved with a bull market.
And no, we’re not raising any money through an ICO, so a bear market doesn’t affects us in a major way.
We wanted to work on a crypto idea which could enable global users to organize and cooperate in a way which is truly disruptive, i.e., something which is not possible in the non-blockchain world. Micropayments and smart contracts are new innovations brought about through crypto ecosystem, and Masmic wouldn’t be possible without these two forces.
If you are getting to know about Masmic for the first time, you can check out these articles to know more about how Masmic works:
Bear market increases signal-to-noise ratio in crypto discussion and we hope to achieve awareness for our project much more smoothly. But we know that this will come only after the launch. It is fair that people have become skeptical due to several crypto ideas not materializing later on.
We are excited to share that the closed beta version of the product will be made live tentatively in 2nd/3rd week of December 2018. So, the date is drawing near. We would love you to try us out right from day 1. If this idea looks interesting to you, please register now: www.masmic.com
We are probably at the peak of the bear market. Most of the tourists have left. The fact that you and us both are still here makes a great case for building a “quality” product for a “quality” audience. We know you are also looking for credible projects in crypto ecosystem which could make your conviction in the sector even stronger.
We don’t need your support in terms of money. But we need your support to try us out, give us critical feedback to make us improve and tell your friends about us only after you like using the product.
After all, what we have in common is that we are all excited about the future of cryptocurrency and blockchain technology. :)