Overview of the Episode
In this episode, the host, TheyCallMeDan, shares his perspective on the current state of the cryptocurrency market and blockchain industry. He expresses frustration with the lack of awareness and research among many investors, who he believes are too quick to panic and sell during market downturns.
The Importance of Research and Passion
He emphasizes the importance of doing thorough research and having a genuine passion for the projects you invest in. He argues that most people are unwilling to put in the necessary work, instead relying on luck and trying to time the market. He contrasts this with his own approach, where he has deeply studied the industry, tried building on various platforms, and ultimately found Steem to be the best fit for his needs.
Distinguishing Between Sleeping and Dead Projects
The host makes an important distinction between projects that are "sleeping" versus those that are truly "dead." He explains that from a distance, these can appear similar in terms of price action and sentiment, but a closer examination reveals that some projects still have underlying value and potential, even if they are currently dormant. He uses the analogy of a sleeping dragon, which is harmless when asleep but extremely dangerous when awakened.
The Unique Advantages of Steem
Dan discusses why he is particularly bullish on Steem, highlighting its lack of an ICO and the resulting absence of pressure to appease bag holders. He notes that Steem's real trading volume, rather than artificially inflated numbers, is a sign of genuine interest and usage. He also praises Steem's technical capabilities, such as its ability to store text-based data and enable decentralized account creation.
The Importance of Building and Looking Forward
The host emphasizes that the current market conditions present a "once-in-a-lifetime opportunity" to build on Steem and other promising blockchain platforms. He encourages the community to focus on development and innovation, rather than constantly monitoring price movements. TheyCallMeDan believes that by creating truly valuable products and services, the recognition and appreciation will follow, even if the price does not immediately reflect it.
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