As a child whenever we would play sports outside, the kids that left home early when losing or didn’t feel like playing anymore were always made fun of. Looking back, such situations were quite immature, but quitting was always frowned upon. On one hand, an individual is free to do whatever they like, but on the other quitting implies prematurely breaking of some previous agreement, whether that be employment, running a business, or being part of a team.
The main reason we would make fun of and insult kids who quit say a football game was because one person leaving made the teams uneven, negatively affecting the game. The issue the other children had is that the quitter previously agreed to play the game but when things didn’t go their way, they simply stopped playing. Quitting does not justify insults but does have consequences.
In the Bitcoin SV space, negativity is the norm, thus new negative events will spread like wildfire. Recently with the bear market in digital currency, overall recession in the global economy and failed/ghost businesses still around, BSV proponents are uniquely affected as it was and continues to be treated like the red-headed stepchild of the space. The decision to quit can be a sensible one given one’s own unique circumstances. However, when one quits, who is to blame?
If I register a silver mining business and my company fails to generate a profit to sustain its operation, is the market price of silver stagnating, or dropping the only or primary reason for my failures?
Such an excuse will be given for the justification of these businesses failing and owners quitting the space altogether or migrating to a different blockchain to build on. The reality is that it is the business owner’s responsibility to obtain customers, generate sale, sustain revenue, and eventually earn a profit. Arbitrary market movements of the commodity being dealt in does need to be accounted for and its associated risk managed properly. If they are not, failure is certain.
This attitude of blaming low asset price and lack of adoption on others in the BSV space originates from jealously and spite of other coins rising astronomically in price. However, any business venture predicated on coin prices rising endlessly was never going to be successful in the long term anyway. See 3AC, Celsius, CoinFlex, Voyager and more.
Deciding to pack up shop is ultimately a subjective decision, yet the reasons given for doing so are objective.
“I would have made millions if I launched my application on another chain.”
“Bitcoin doesn’t actually solve any of problems I thought it did.”
“If the price went up, I’d be rich, business would be booming, and I would have tons of customers.”
“If that big kid didn’t push me down and make me scrape my knee, I’d keep playing.”
The digital currency space is still relatively young in the context of the global economy, and very few businesses that leverage the technology have survived longer than a decade. The ‘digital gold’ rush manifested in the last seven years or so has brought many new, fledgling entrepreneurs in.
The idea of obtaining generational wealth after only five years of HODL’ing the ‘right’ coin or building a bare bones business on the ‘right’ chain is absurd.
It's hard to believe any of you fake Bsv'ers has been in business for any amount of time. I've been in business for 30 years now, 2 locations and I'm here to tell you slow and steady wins the race. It took a minimum of 10 years to start seeing success. Nothing happens over night.
— Sir jimmie of bitcoin🍌🍌GorillaPool.io (@jimmiebitcoin) May 17, 2022
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.