My opinion is that the true believers were those who participated in the ICO and all of this is possible thanks to that funding effort. Aeternity Foundation literally slapped them in the face with unnecessary initial hyperinflation. Community would participate more and caring about the project if they would see that it would help their stake value grows but instead Aeternity progressively decided to destroy the value of token stakes by badly designed inflation curve. Clearly they decided to appreciate miners more than the ICO founders and believers, but miners didn’t bring too much value on the beginning. When bitcoin started it was different, there were no holders that could support that project so Satoshi Nakamoto decided to build them by allowing very high mining rewards from the beginning (that is relative to say, you can also say he decided to quickly decrease inflation after initial distribution). There were no previous token holders that would be angry by the huge initial inflation, because there were no initial token holders, so practically there were no inflation at all, just distribution. Due to that Ethereum decided to implement flat mining reward issuance to balance founders and token holders and miners that secures the network. It would be dumb to do it otherwise.
Everybody is overwhelmed by the damage done and not announced enough… It paralyzed all the believers and they might participate and support projects that may incentive they effort.
So to sum up:
in Bitcoin Satoshi decided to distribute large stakes of tokens on the beginning and then make the coin deflationary decreasing inflation quite quickly
in Ethereum the initial tokens were distributed on the beginning via ICO and then they set up constant, not too big mining reward that practically is deflationary. What is more important these ICO founders created flourishing economy because they clearly have seen that their efforts bring the value and nobody designed inflation to take it by force
Aeternity decided to distribute tokens via ICO and also via huge initial mining rewards, but combination of these distribution ways are both in conflict, destroying not only the token value but also the initial community, confidence in the project and trust in Aeternity Foundation so instead of win-win we have situation that all lose
The problem is that the AE team feels that their approach is correct and reasonable, and ignores the voice of the community, so that the AE team will be killed sooner or later.
The most active community members focus on development, this is the main reason. A decentralised project don’t have a “professional marketing team” it would be good to get more creative marketing people from within the community that propose (and execute) stuff. If you have a good idea / proposal the aeternity crypto foundation might support it, you can apply for grants (also for marketing) here www.aeternity-foundation.org
edit: we are not traders, we never pushed price, we never advertised price or anything. Aeternity is technology driven and one of the best out there. I’m happy to take this to a panel at any time.
It is undeniable that the price increase of AE is the best way of marketing, but marketing does not necessarily need price increase, more is to let people recognize ae. For example, the update of main network, the Depp list of AE main network, the development progress of Depp on line, and so on.
Yes, the website is a major pain point and the one is being worked on. I agree that it takes longer time than expected, but there is much to be updated.
Other than that - we will soon open up marketing activities to the entire community. We believe this is the best way forward. Anyone will be able to propose a marketing activity and get funded. Expect news this week.
I think this “price” Talk is common un many projects, and several are just that…price and trading with nothing else to offer.
Aeternity is something bigger than its token price. The way I see It is an amazing Game changer for blockchain tech in every área.
Smart contracts and dapps are the next big opportunity to: change the world as we know It, create wealth like never before (with dapps, no with token TRADE), ideas and projects never seen before and this is just starting guys.
Nevertheless, I wish to see more participation of core developers, they have to be visionary, they have to encourage experimenting and research on disrupting ideas, they have to position themselves as leaders. I know that may be difficult in the current organisation of Aeternity where the business executives are now positioned as leaders. But in fact in a true organisation the shareholders have the power to influence organisation more than directors in this way they can vote who is who. So the AE token holders should have to have such power. It would be nice to have BRI organised as a DAO and then token holder could direct the funds where they will be most effectively spent. I guess that the most confidence will goes to the core developers. Who is the architect of Aeternity? We need real visionaries.
this is because AE team does what they want no mather what.
Monetairy they have no idea.
How to do voting honestly, they have no idea.
How to fair launch, they don’t know.
How to maintain relations with community,they have no idea.
How to do marketing, they have no idea.
How to do styling, they have no idea ( look at the purple on purple with that last event)
How to stay professional, they have no idea.
How to lose “friends” and allienate people, wow, they do have an idea!
i used to be a strong advocate, but now I’m telling people to steer clear.
thats what the AE community turned into
why are people not more active? I am active, but most people don’t have the vision yet to see the future potential for ae. in other words, half the population in the world is below average intelligence
In all fairness, aeternity will always be ‘less revolutionary’ than Ethereum, simply because Ethereum was the first in its space.
I agree with drag0x’s initial post. There was some point during the ICO craze where projects stopped looking like Bitcoin and more like normal companies looking for funding, and aeternity was amongst one of them.
ICOs favour early adopters and a small group of people, which is not unlike a company and stock (AE’s mining distribution looks reasonable to me). Is it any surprise, then, that ae’s community is a bit like a company’s ‘community’?
The truth is that Bitcoin’s distribution favoured early adopters too, but society as a whole is still excited about crowdfunded projects like Monero, Grin etc.
So it seems that token distribution mechanics set the long term tone for the project. In the aforementioned examples, traction and use cases are achieved by the community in a slower, more “here’s the results of my last all nighter” fashion, which eventually builds up into something self-sustainable. Like a normal company, aeternity has to prove its usefulness/traction all on its own.
EDIT: I don’t post here often because I’m busy working on the code!
Thanks for finding the time to share your thoughts. I completely agree that development is slower than an impatient crowd looking at the price on a daily basis expects.
We see a lot of people complaining when the price goes down, but it very quiet when it goes up. We need more people who actually contribute to æternity. Not only in terms of development, but also in terms of promotion and community building. People like @randomshinichi and @Josh.chain. People who will be with æternity through both - good and bad times.
We stay professional.