BitKan Executive Says Bitcoin is Being Redefined in Value by Crypto Community
BitKan Executive Says Bitcoin is Being Redefined in Value
The cryptocurrency community has been, in many ways, always driven by some level of greed. While there do exist investors who meticulously pour their funds only into those products that they view to be worthy of contribution, the vast majority of market participants are motivated primarily by the finances that underscore the market and its continued success. But crypto is a unique asset in that it is valuable for more reasons than just the cost of the asset itself. Many cryptocurrencies uniquely facilitate things that are valuable, even if the coin itself does not retain significant monetary value.
At least, this is the perspective of Cheng Yao, the operations director of BitKan. In a presentation to participants at the World Digital Mining Summit earlier this year, he spoke extensively on the ways that the community is slowly changing the way value is defined on the blockchain. According to this expert, the cryptocurrency markets are exception for the simple fact that, even when the markets are bearish and profits are low, people keep coming back and putting more money in.
According to Yao, this is because market participants understand that there is long-term value in crypto, far beyond the worth of any individual coin. Coming from a representative of BitKan, it should not be surprising that much of his invocation of the value of blockchain and crypto comes from his belief in the power of K Site and its communities. However, Yao does have some interesting perspectives on the way that the very concept of value is being altered in this unconventional investment community.
The Value of Information
Yao’s key contention in his speech was that the value of information is becoming a core aspect of the community concept of what value means within the K Site ecosystem. In these K Sites, users are able to share information, trading it in exchange for cryptocurrency. As a result, he says that the value of the currency is partially derived from the community, as well as the information provided within it, rather than the price alone.
On the general markets, Yao says that traditional factors like market capitalization, technical analysis, and price of coin do play parts in the overall likelihood that a given investor will choose to become involved in a project or currency. But to a much larger extent, K Site is redefining the very idea of how information is traded and how currencies derive their value.
K Site is doing this by helping to lend value to information that could be a significant factor in any given trading decision.
K Site And Information
Using the native token, KAN, the K site is a moving ecosystem where users are able to post news, messages, and information to their followers or members. While some content generators charge money for recurring membership to a community with valuable information to offer, the majority of contributors who make profit off of K Site are rewarded by the community and the website for contributing a significant amount of useful information to the ecosystem.