REACTION #1 : To Balthasar Beckers latest Youtube Video
2 min readJun 7, 2022

Since Youtube blocked this comment, we will publish it here.

And here is the video we are talking about:

Hello Balthasar,

this video of yours is a very smart video. And it is very good and important that you, as a DeFiChain influencer with a wide reach, bring the topic to the table and explain it in detail. I’ll comment here under our new YT channel profile for to add to our perspective.

Our first CFP for was rejected in the voting. It was rather the big and bigger masternodes that shifted the voting towards rejection. There were two communicated reasons for the rejection at the time. The first was that we had entered as a new team and there was nothing of our product except design sketches. That was justified.

The second reason, however, and here we come to the subject of you and your video; it was rejected because we are building, have to build, a commercial product. If I may say so, it is a tough job to build such a thing without funding. Of course the company should become profitable one day. Why else would all the people involved do it. Because we have nothing else to do? Profitability is the reward for the high risks entrepreneurs take when starting a business. And these are personally all the higher because we are moving in the “wild” crypto industry. Life time is invested, money and we forego alternative projects.

At the same time, as you rightly put it, #DeFiChain and every single DeFiChain investor is fundamentally dependent on the ecosystem around and on DeFiChain evolving and growing growing growing. Then, and only then, money flows into the ecosystem, stabilises and drives the #DFI price, from which everyone benefits again.

We need more products that build on the DeFiChain. Real products that also bring in new investors. That’s exactly what we are building with, also internationally, globally. So I would like to advertise here to support us in our next CFP, which will come in the coming months. Because we depend on the help of the community to build it up. In return, the community gets a new project and product that creates new use cases and brings new investors into our ecosystem.

And it’s not just about our project. We as a community need to support as many new projects as possible. So that all of us at DeFiChain can become a really big player in the crypto world.

Many greetings, Mirko Riedel