Hi fellow fastaners! This is my first post on the forum, although i have been lurking for quite a while now. I have read “the Millionaire Fastlane” about eight month ago and it, more than any other book i have read, inspired me to take some action. Shout Out to MJ for creating this forum, lots of useful stuff over here.
A quick background check: I am 22 year old university student currently living in the Netherlands. I am in my second year, but i might need an extra year (or two
) to finish up my bachelor. I am studying IT management. Whole my life i wanted to do something meaningful but it was always a struggle for me finding the right path. I lacked a father figure and always sought it in someone else outside.
When i turned 19 something happened (don’t want to share the details but it was basically a rock bottom experience) that completely changed how i thought. I realized that i don’t enjoy the small mindedness, low awareness and short sightedness of my surrounding and if i continue doing what i do, i will eventually end up in a very bad place. I pretty much ditched all my friends (except like 4) and started focusing on self development, read many books, thought a lot about life and meaning of it. It was a long and slow process (kind of existential crisis). Eventually i started trading bitcoin with leverage. And in the last 8 month i went from 0.15 btc to 1.8 btc. It is not a lot, but its quite something considering that i am a beginner trader. I enjoyed doing it very much, it was like an escape from reality and i thought i don’t need/want to do anything else anymore.
I always saw trading merely as a tool to reach my destination but i think it is just not in-line with what i want to be in life and it will exhaust me in the long term. A scary part about trading is that it is basically 90% emotional intelligence and 10% skill. If you are in a bad state of mind and you are not fully aware of it, you will get F*cked big. You could grind your portfolio up to ridiculous highs, but a couple of bad trades is enough to loose it all again and start over from the beginning. Unfortunately human brain is not always aware of the changes it goes through. You could wake up tomorrow with a completely different mindset without actually being aware of it.
So i came to the conclusion that i don’t want to daytrade anymore. I will still be looking for swing trade opportunities and good entries for long term, but i am not planning wasting my life every day in front of the computer and becoming completely asocial. It is actually quite funny that 90% of my trades are useless. I made the most of the money from like 20 big swing trades and would have made much much more if i eliminated all the useless activity.
After doing a lot of soul searching i decided that it is finally time to take some action. I actually think that trading was kind of excuse for me to not do anything. I have a very good friend who happened to develop great programming skills in the last 3 years. We know each other for a long time and have very similar life experiences. We wanted to do something together and decided to just go and start something out. We first tried to make a tradingbot, but i quickly realized that my experience in trading is not sufficient enough to complete in todays algo-trading industry.
Finally i realized that i have been following crypto for quite a while now and have developed a good understanding and feeling of the industry. I got this idea of a decentralized gambling platform where everything is completely traceable and provably fair. Think of it. In the traditional gambling industry you have absolutely no idea about the actual chance of winning, number of players participating and the drawing mechanism. By implementing blockchain technology we are capable of transforming all these deceptive events into a fully transparent system. This way playing lottery could actually become a “rational” thing to do.
I started doing my research and checked all the existing gambling dApps (Decentralized Applications) on ethereum blockchain. I quickly realized that the dApp industry is only in the early stage of development and there are only a few decent products out there. We could do much better!
So we started with the development of our dApp at the beginning of November 2019 and very quickly built the foundation for it. Meanwhile our idea evolved so much that it is nothing like we thought of it at the beginning. We want to build the first dApp platform where people can submit their own dApps and monetize them. We will develop a real community experience where people can chat, update their own profile, read (crypto)news, invite friends and track their activity. I am quite confident that we are able to build a product that could potentially change the way we look at blockchain technology and explain the usefulness of it to average Joe.
We believe that everybody deserves a fair chance. At our platform there is no betting against the house.
We are just providing a platform where people can take bets against each other on real-life events and/or play mini-games for money. All wrapped in a nice social-media experience.
My concerns:
1.The goal is to build a platform for decentralized Applications, but i think that focusing on gambling/mini-games at the beginning will give us the best shot at quickly building our user base. What do you think, will it hurt us if we switch things up later?
2. Would you consider a gambling platform an ethical business (considering that we are not functioning as the house, we are just providing a platform)?
2.There are only like 350k ethereum dApp users.
2.Will ethereum even be the biggest smart-contract platform? - In my opinion it definitely will, but there is always a small chance it will fail. CONTROL??
3.How to exclude underaged kids from participating?
4.Ethereums switch to proof of stake in 2020.
5.Is it worth buying existing crypto related social media accounts to build a small following before the release? - I know it is not completely legal.
What am i trying to achieve with this post:
If you guys are interested i will show you our project. It works smooth on the backend but the UI/UX is not quite there yet.
Wish you all achieving your full potential in 2020!!
Cheers
A quick background check: I am 22 year old university student currently living in the Netherlands. I am in my second year, but i might need an extra year (or two
) to finish up my bachelor. I am studying IT management. Whole my life i wanted to do something meaningful but it was always a struggle for me finding the right path. I lacked a father figure and always sought it in someone else outside. When i turned 19 something happened (don’t want to share the details but it was basically a rock bottom experience) that completely changed how i thought. I realized that i don’t enjoy the small mindedness, low awareness and short sightedness of my surrounding and if i continue doing what i do, i will eventually end up in a very bad place. I pretty much ditched all my friends (except like 4) and started focusing on self development, read many books, thought a lot about life and meaning of it. It was a long and slow process (kind of existential crisis). Eventually i started trading bitcoin with leverage. And in the last 8 month i went from 0.15 btc to 1.8 btc. It is not a lot, but its quite something considering that i am a beginner trader. I enjoyed doing it very much, it was like an escape from reality and i thought i don’t need/want to do anything else anymore.
I always saw trading merely as a tool to reach my destination but i think it is just not in-line with what i want to be in life and it will exhaust me in the long term. A scary part about trading is that it is basically 90% emotional intelligence and 10% skill. If you are in a bad state of mind and you are not fully aware of it, you will get F*cked big. You could grind your portfolio up to ridiculous highs, but a couple of bad trades is enough to loose it all again and start over from the beginning. Unfortunately human brain is not always aware of the changes it goes through. You could wake up tomorrow with a completely different mindset without actually being aware of it.
So i came to the conclusion that i don’t want to daytrade anymore. I will still be looking for swing trade opportunities and good entries for long term, but i am not planning wasting my life every day in front of the computer and becoming completely asocial. It is actually quite funny that 90% of my trades are useless. I made the most of the money from like 20 big swing trades and would have made much much more if i eliminated all the useless activity.
After doing a lot of soul searching i decided that it is finally time to take some action. I actually think that trading was kind of excuse for me to not do anything. I have a very good friend who happened to develop great programming skills in the last 3 years. We know each other for a long time and have very similar life experiences. We wanted to do something together and decided to just go and start something out. We first tried to make a tradingbot, but i quickly realized that my experience in trading is not sufficient enough to complete in todays algo-trading industry.
Finally i realized that i have been following crypto for quite a while now and have developed a good understanding and feeling of the industry. I got this idea of a decentralized gambling platform where everything is completely traceable and provably fair. Think of it. In the traditional gambling industry you have absolutely no idea about the actual chance of winning, number of players participating and the drawing mechanism. By implementing blockchain technology we are capable of transforming all these deceptive events into a fully transparent system. This way playing lottery could actually become a “rational” thing to do.
I started doing my research and checked all the existing gambling dApps (Decentralized Applications) on ethereum blockchain. I quickly realized that the dApp industry is only in the early stage of development and there are only a few decent products out there. We could do much better!
So we started with the development of our dApp at the beginning of November 2019 and very quickly built the foundation for it. Meanwhile our idea evolved so much that it is nothing like we thought of it at the beginning. We want to build the first dApp platform where people can submit their own dApps and monetize them. We will develop a real community experience where people can chat, update their own profile, read (crypto)news, invite friends and track their activity. I am quite confident that we are able to build a product that could potentially change the way we look at blockchain technology and explain the usefulness of it to average Joe.
We believe that everybody deserves a fair chance. At our platform there is no betting against the house.
We are just providing a platform where people can take bets against each other on real-life events and/or play mini-games for money. All wrapped in a nice social-media experience.
My concerns:
1.The goal is to build a platform for decentralized Applications, but i think that focusing on gambling/mini-games at the beginning will give us the best shot at quickly building our user base. What do you think, will it hurt us if we switch things up later?
2. Would you consider a gambling platform an ethical business (considering that we are not functioning as the house, we are just providing a platform)?
2.There are only like 350k ethereum dApp users.
2.Will ethereum even be the biggest smart-contract platform? - In my opinion it definitely will, but there is always a small chance it will fail. CONTROL??
3.How to exclude underaged kids from participating?
4.Ethereums switch to proof of stake in 2020.
5.Is it worth buying existing crypto related social media accounts to build a small following before the release? - I know it is not completely legal.
What am i trying to achieve with this post:
- Get some feedback/tips
- Hear marketing/app-development experiences
- Have a place to keep me accountable
- Hopefully inspire some other kids to take action
If you guys are interested i will show you our project. It works smooth on the backend but the UI/UX is not quite there yet.
Wish you all achieving your full potential in 2020!!
Cheers
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