China, Developer, RON discussed on Epicenter Bitcoin


That said the real projects in this space recognize a few things and this is not just them marketing themselves trying to position themselves in a way that's defensible from the law or from ethical standpoints real projects in this space understand that you need maybe to raise some money by selling tokens but the main thing that the focus needs to do is create an open market for participation in whatever the service is going to ccomplish what that means is they're going to be reward for doing things on the blockchain they're going to be reward for securing the blockchain if it's proof of work they're going to be reward for people who provide goods or services through the blockchain centralized computing system so if you provide cloud storage to the cloud storage network that's described by blockchain and can be purchaseable with the token then you should be rewarded with the token as a provider and then when consensus mechanisms are proof of stake based instead of proof of work based in that case you need people to have the tokens in order to play that valuable role as economic weight in the consensus you know in bitcoin your economic weight in the consensus the reason why we can trust it is the fact that you invested all of your money into these useless computers and you're feeding them electrically from dam in western china while until recently in proof of stake we believe in the system because the people who are actually powering it had to sink all his capital into these tokens whether they're either if he's the roost steak finally or anything else and that won't necessarily be reliable into centralized system if the only people staking or the people who were the original investors so finding a way to get tokens more widely distributed is important for the technology now what should you do i think if you're a developer and you wanna show good faith and maybe take less risks from a regulatory standpoint you should give them away or you should make them reward ron.

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