The Value of Ideas — and the Fusionite ideal
One of the toughest things about cryptocurrencies, is how to evaluate them — how do you know if a currency is undervalued, or overvalued — or is it always just right?
These questions can not be answered in any definite way, and the ways in which you can make evaluations are many. What we can say is that every currency has its value because other types of money is backing that money in various liquidity systems. So the value is always backed, but how solid the liquidity backing of this value is, can vary a lot. Here, factors such as decentralization of backing parties and multiple systems play a big part. If you look at value from this perspective the value is always just right, but can be more or less volatile.
But people who buy cryptocurrencies are seldom interested in current evaluation, they want to know it’s future value and if that will be higher than the current value or not. “Wen moon?” so to speak.
For cryptocurrency makers that has always been a very annoying question, but currently there’s a trending currency in the cryptocurrency world called SAFEMOON which aimed to achieve precisely that moon right away. This currency is designed to be very beneficial to its holders, and less beneficial to those who choose to sell off resulting in a steady upwards trajectory. You can say it’s a kind of tokenomic game purposely designed to get the currency to a high evaluation at an unusually high rate. Soon after this came out several copies have come out hoping to achieve the same result (and many times it seems to work precisely according to plan).
This is quite baffling (I’m also convinced that new “rug-pull” variants are just around the corner, so readers should beware of this), but as an idea it has some value, and helps some people make money for sure, but other than this it’s lacking in a greater purpose or ideal — which leads me to what I wanted to write about — the value of ideas.
Because that is what I look at the most when evaluating cryptocurrencies. The value of ideas, and how these ideas can stand the test of time. Many of the most highly valued cryptocurrencies such as $BTC and $DOGE no longer really have an active maintainer. Their tokenomic designs, efficiency as currencies and many other things are severally out of date compared to newer currencies who came after and there is no one who can “fix them up”. There’s no “roadmap”. They only have their established place on the market, their original designs, right? No — they also have one more thing — the ideas that brought them into existence and other ideas people have come to associate with them. $BTC was the original cryptocurrency and is nearly a synonym for the market as a whole, and the ideas that it could be a world currency, a secure store of value, or a way for central banks to hedge against inflation — is all ideas heavily implanted in many. $DOGE stands for other ideas such as: the value of being the underdog, the value of humor, memes, not taking things so seriously and massive social media following. Those values managed to inspire even one of the richest men in the world, so even though it should be laughed at, it should also be taken seriously.
But does every cryptocurrency have an idea with value? Every currency probably has some ideas to back its value, but how well these ideas stick can vary.
My favorite cryptocurrency is $FSN, I make no secret about this and the reason is very much due to the ideas and visions behind it. Fusion has not been executed perfectly and many mistakes have been made by the Foundation — to the extent that the original Foundation does not really exist any more. However — the ideas behind Fusion are so powerful that despite many failures and under performing price action, many stick with Fusion and choose to invest both more time and money to help make it great.
[Before I go on, I want to say that Fusion is more than an idea. It has a fully functioning mainnet, which is completely unique and can divide assets into time frames in addition to taking the best from things that worked well for Bitcoin and Ethereum but with a better and more efficient design. (Read more on fusion.org and fusionite.info)]
But let’s get back to the ideas of Fusion. Because there is much more than one. 1. The idea of creating a perfect decentralized platform for finance, where advanced financial operations can be executed securely on a protocol level, without the need to trust centralized entities or even unfamiliar smart contracts. 2. The idea of uniting all cryptocurrencies, regular currencies and any other types of digitized assets in the same places through interoperability.
There’s also another even more grander idea, that at least I, associate with Fusion and $FSN. This is the idea that anything can be valuable as long as at least someone sees value in it and that Fusion should strive for it to be possible for anyone to express that value on an open market. In essence a completely decentralized market where anything is possible and anyone can create value. This, for me, is the “Fusionite ideal”. You can sum it up in two words. 1. Openess and 2. Inclusiveness.
Sadly I keep on seeing many anti-Fusionite things happening in the crypto world that work against this ideal — but as these things happen — the need for the “Fusionite ideal” (more openness and inclusiveness) only increases in my mind. Even the times anti-Fusionite things happens within Fusion itself (which does happen more than a few times. Nothing is perfect), it helps me see a higher need for what Fusion should represent. I will still always associate this “Fusionite ideal” with Fusion and $FSN and I think with time, more and more people will do this too, as the vision becomes more and more real.
But let me list a few things that I consider anti-Fusionite: 1. Purposely ignoring and censoring. 2. High-cap maximalism (disallowing mention of low evaluation coins) 3. Failing to give credit where credit is due. 4. Never acknowledging value in currencies you don’t own yourself. 5. Only considering things that managed to reach a certain market.
$FSN is often the victim of these things, but it is far from the only victim. Fort walls can be built quite high in the cryptocurrency world, even though it’s supposed to represent the opposite ideals, where anything should be possible.
It’s like this because people always want to protect the value of what they already have, and they’re scared of things that might end up replacing it — or even if they’re not that scared— they still don’t want to help facilitate it happening (unless they already bought in of course. This is actually understandable, yet bad). These things are human nature, but they are also what I consider to be very anti-Fusionite.
The idea of Fusion is to always be inclusive and open to everyone. I think AnySwap (which spawned from Fusion) is the project that, so far, best show this ideal take off in practice (currently perhaps even better than Fusion itself), by not only inviting anything to come onboard, but also actively pushing itself onto platform after platform and connecting value everywhere, both on the chains and between the chains. And they really will help anyone achieve what they want, without being judgmental in any way.
Yet even AnySwap becomes the victim of anti-Fusionite things at times. Like being ignored, or not given proper credit — and that makes me very angry. I won’t name names, but I do hope someone takes note of this and make amends — if they feel hit.
In closing: do I think the value of the ideas associated with Fusion are higher than the current value? Heck yes! This is the “Unstoppable Revolution” as Fusion-based Chainge.Finance puts it — and it needs to happen.
Update: Since I first wrote this Chainge Finance has delivered bigtime on the Fusionite ideal, bringing thousands of cryptos to Fusion at 0 cost for the projects in question and are successfully getting people excited about it.
