Respectfully mate, as much as you want to defend it, the price action is more like a shit coin. When a token crashes from $28 to $0.35 that is exactly what it is called OUTSIDE of this community. While you see the good things about Gitcoin from your lens, not everybody sees it that way. You need to remember $GTC is listed on a huge number of CEXs so apart from the community there are also investors ( small, large, traders, holders etc) involved. I have lost ( notional ) a lot of my savings on $GTC, have you?Bottom-line I will remain a big fan but I’d like to speak up when deem fit.
fwiw, i am not into policing language here. you can call it a shitcoin if you want, i can’t stop you, nor do i want to spend any energy on stopping you. i do think that what i’ve been trying to do is coach ppl towards how they can make their feedback as constructive as possible (thereby increasing the value creation potential of the feedback). but sometimes ppl just want to vent (which is more emotionally cathartic and less useful to others) and thats okay too.
tbh it horrifies me that the token was worth $20+ in nov of 2021. i do not know what the rational market valuation for that token price (and the implied $2bn+ fully dilluted valuation it gave gitcoin) was. no one i know of pumped the token to that price nor has anyone i know of marketed GTC in that timeframe (in fact, we’ve gotten gruft from the community for not marketing the token at all in the past few years). the only reason i can think of that the token went to $20+ is just an extreme irrational exuberance of the 2021 market and that GTC was swept up in that. but i am just guessing.
to state it plainly: i do not see a clear path to a return to that token price unless the irrational exuberance for market assets like GTC returns and/or unless gitcoin builds a business with enough sustained attention and/or sustained cashflow that is roughly 100x more than what we have now.
if you want to help, here are some posts to checkout
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