Cult of personality in crypto

in #cryptocurrency7 years ago (edited)

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Crypto space is at its early stage and many projects are only promises at the moment. When you have so many projects like we have with similar ideas and goals, it is not easy to know whom to believe and who will fulfil their promises.

It is very important at the moment who is behind which project. Like in any part of life, there are scammers in Crypto world but because of lack of regulations for Crypto, number of them is higher over here. If you look at most successful projects now, most of them have well known people in crypto space behind them:

  • Ethereum - Vitalik Buterin
  • EOS - Dan Larimer
  • Cardano - Charles Hoskinson
  • NEO - Da Hongfei
  • Litecoin - Charlie Lee
  • Iota - David Sonstebo
  • Ripple - Brad Garlinghouse
  • Bitcoin Cash - Roger Ver
  • Tron - Justin Sun

I can go on and on with this but I think that you see the point. This is normal of course, because it is easier to believe for example to Dan Larimer, who already made some successful projects than some unknown developer without anything behind him.

This is all normal, like I said but for me it is VERY DANGEROUS for the projects that supporters of these projects are glorifying and iconsizing leaders.

Each of these leaders have its own cult of supporters who thinks that ONLY their leader is the ONE and that he has answer for any question and solution for any problem. It is very funny for me how people react for example on anything that Vitalik Buterin is saying... Yes, Vitalik is genius and he made great successful project but does he knows everything about anything? Of course NO.

Why I think that this is very dangerous for these projects?

First of all, cult supporters will follow all what their leader is doing. We talk about decentralized immutable projects, than Vitalik decide to reverse Ethereum blockchain and then for his blind supporters that is OK. Yea I know that ETH supporters will say that there was consensus for that, but I am sure that deep down even them don't believe in that.

If some project depend so much of one person, it is not safe project. Imagine if for example Vitalik abandone Ethereum project (Instead of Vitalik can be any of these leaders), I am sure that that would have terrible consequences for it. Probably it would survive, like Bitshares has survived Dan's leaving but it won't be successful like it deserve. Bitshares is great project but its development is very slow since that...

This is why I think that BITCOIN is BEST and SAFEST project out there because Satoshi(whoever his is) was smart enough to leave on time.
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I really hate when some people pronouncing Satoshi's vision. This is why I don't respect what Roger Ver is doing with Bitcoin Cash. Satoshi has his ideas back then and obviously he was genius but nobody knows what he would think now about things related to Bitcoin. Technology is developing and Bitcoin is developing together with new technologies.

Thomas Edison was great inventor and he invented many great things for the world. He was genius for sure. Even being extremely smart, he was fighting against Nikola Tesla and his AC current. And Nikola Tesla was right, AC current is much better than DC current because it can go on longer distances. Without Nikola Tesla's AC, modern world would be different If we just have followed Thomas Edison.

Wright brothers invented airplane. Imagine if we have followed Wright brothers vision of airplane. Probably we would fly around in wooden airplanes. I think you understand my point and why I hate pronouncing today Satoshi's vision...

Probably it is not possible in so early phase of Crypto development that we don't follow leaders so much. When Crypto space mature, probably would be different. Take Apple for example. When project is well established, business is going fine even without great leader. Apple is great company, even without Steve Jobs it is dominant in its space.

My point is, we shouldn't blindly follow anything and anyone and we should be open for new opinions and ideas, no meter if we are just users or superstar developers.

I would like to hear and discuss your opinions about this.

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We don't need cryptos led by personalities its against the very nature of decentralised cryptos. The founders should be anonymous and should not influence the development of crypto.

Yeah. This. Personality cults lead to bad decisions.

you are right. but when a project is fundamentally profitable and makes sense, the risk of totalitarianism will be minimum.

for ETH I think this has happened. it acts like a platform and I don't think even if Buterin wants to stop it, it would be possible.

maybe I lack in blockchain knowledge, you are more professional with technical issues I see, this was just my opinion. thanks for sharing your info and knowledge

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That why I think bitcoin is the best-yes there is no leader but that also what makes bitcoin the most decentralized. Yes there are some small cult followings but not that large. Yes that why bitcoin sometimes is in "civil wars" but that is how it was made.

Very relatable topic.

I do notice myself to be an @dan 'fanboy' and the other side I can't really relate in any way with Roger Ver. I know it should not be a factor when making any investmets. Still I got quite some EOS and no Bcash at all, so yeah... :)

The central failing point of a 'cryptp superstar creator' is something of an issue Bitcoin doesn't have a problem with indeed.

That is funny in the startup world especially with the most revolutionary ideas. The founders always get kicked to the curb, bought out, whatever when you get institutional/venture capital involved. It actually cleans the thing up quite a bit, takes the new tech to a more product friendly environment, making it watered down, but sustainable as a company or ongoing idea. Right now people are very trapped into the cult of personality in ideas. Just mentioning a name like Elon Musk, Jeff Bezos, Tim Cook, Bill Gates, Warren Buffett gets you an instant reaction before you are even talking about what it is they are doing. The lemmings tend to chase their leader off the cliff, while the innovator is gobbling up market share while idiots hero worship. I guess it's kind of that way in everything to a point. Michael Jordan the player would never play for Michael Jordan the executive.

Agree with everything. Great points.

Hello @cicbar
totally agree with your point of view! That's what Mr. Hoskinson on the Bitcoin Expo on the MIT in Boston explaines as well. As soon as there will be a problem with one of the so called "leaders" the whole project will suffer as everybody within the community associates the project with one person. And for sure there is no way that one single person can handle at this stage a great project by himself. Even if he / she is a genius ... Everybody is just a human beeing with a bunch of talents and skills ... but it doesn't matter how great your talents are - without a proper team you will never achieve the best result.

I recognized that it is quite easy to have just one "leader" - how did you handled it to stay rational within all those popularity around those guys? :)

I really respect Charles Hoskinson because he left Ethereum project after blockchain reverse...

True ... as everyone is staring a project of crypto ..but the main thing is that how to believe if it is not a scam..

Bitcoin is fucking awesome cause there's no one behind it. Satoshi was clever and left right when the tingles of hype started. I can't imagine it's possible to be so selfless and do not sell his bitcoins. He had like thousands.

Just wanted to thank you for your time reading my post and for your generosity 🍀🙇‍
I try to create better contents :)