Let’s go back in time to the start of Bitcoin for a second.
An unknown person, using the alias “Satoshi Nakamoto,” mined the genesis blockchain in 2009. This individual advocated for a complete free market, ending the monopolization of central banks and government-backed fiat currency.
This individual also mined at least 1 million Bitcoin before disappearing in 2010. That was when control of Bitcoin was handed over to Gavin Andresen, who would become the lead developer over at the Bitcoin Foundation.
What was Andresen’s primary goal? To decentralize control of the cryptocurrency.
That is why it is so difficult for people to handle the idea that they should “trust the developers” when engaging with cryptocurrencies. Even at NYC, where volunteers are handling this process, the act of drawing a line in the sand creates resistance within potential investors.
Not because they don’t trust the developers. It is because they have seen the mistakes of the past already and want to guard future investments against that kind of trouble.
Trust Must Become the Foundation of Any Roadmap
Bitcoin was plagued with issues in its early days. Even though there were certainly developers who had their own vision for the cryptocurrency, the nature of cryptocurrency itself attracted unwanted attention.
When the black markets looked at the evidence generated by the early proof-of-concept transactions, they jumped on the idea of using cryptocurrency. In February 2011, the Silk Road made Bitcoin the only currency possible for transactions.
In just 30 months of existence, almost 10 million Bitcoin were received as payments.
The vision of Bitcoin failed here because there was a lack of communication. Developers were not talking to their community about what they wanted the roadmap to be. That allowed the vision to become corrupted by illegal activities.
The value of Bitcoin didn’t really grow until the vision was restored. It didn’t grow until the developers had once again earned the trust of their community.
That is where NYC can avoid the mistakes of the past.
We All Have Reasons Why We Are Attracted to Certain Currencies
People are attracted to a specific cryptocurrency for their own reasons. Some might be trying to collect 1 coin from every crypto. Others might be attracted to the name of the currency. Some like the idea of getting involved because they dream of getting rich.
There is nothing inherently wrong with any reason for attraction, unless those reasons are illegal, of course.
What NYC (and every other cryptocurrency) must do is find the truths found in those who are advocating for specific roadmaps. Each investor or developer wishes to see a specific course of action because it is personally beneficial to their needs.
No roadmap can include every perspective. We must build the community as we build the cryptocurrency for everyone to have a chance at success.
There must be a willingness to listen within the community. That doesn’t equate to a willingness to change the development plan.
It means that there is respect present in every conversation. Having a knock-down, drag-out fight over the roadmap can be a good thing when respect is present. It helps to build the uniqueness and value of what eventually will come to be.
That is why NYC is different than Bitcoin. The mistake Bitcoin ultimately made is that it followed the vision of one anonymous person who ultimately took their money and ran away.
At NYC, the community is working together to build something that is stable and can support large-scale commerce one day.
There will still be a lot of hype. There is always hype around opportunities such as these. Where NewYorkCoin has strength is in the value of trust.
Developers must trust the community by listening to the feedback given, even if they disagree with the directions being suggested. The role of the investor is to advocate for themselves, after all.
Investors must trust the community by seeing the long-term picture and how it can be potentially profitable to everyone. It takes time to build real wealth. It was almost a decade before Bitcoin became part of the consciousness of the general public.
There will always be arguments. Some of them may be heated. At the end of the day, the development roadmap will be better for it, especially from the perspective of the NYC community.
That means we will be better for it as well.