1/ Yeah and it is based upon flawed understanding of how things work. The idea of deflationary money is foolish. People within crypto do not understand what really takes place. It is why #btc will never succeed like maxis say.
2/ You are looking at building an economy while wanting to lock money up and tie up the value in a way that cannot be accessed. The main reason people want it is because they want "price go up".
To elaborate on /3
There is a difference between what value is being produced on a day-to-day basis & what is being traded, and who are the genuine stake holders involved in producing that value.
On the other side, there is another imaginary price(which may sometimes converges with the real value) determined by supply/demand, and some people make a profit out of it, and some people also lose their capital by speculating.
But this disparity exists- what is being produced and what is being traded is indeed different that is why we have seen that huge correction after peaking. After the speculators square off their position, and after a level when a coin deny going lower, we find the genuine true value of the coin. But to know that value we need to traverse that path. Unfortunately, we have not devised any other method to objectively determine the value of an asset, we have left it to the market determinants from the get-go.
Inflation/deflation is debatable. But on /3 I totally agree with you.
Because that is the USP of crypto in the first place. In fact, it was one of the imperatives of the birth of crypto in 2009.
1/ Yeah and it is based upon flawed understanding of how things work. The idea of deflationary money is foolish. People within crypto do not understand what really takes place. It is why #btc will never succeed like maxis say.
2/ You are looking at building an economy while wanting to lock money up and tie up the value in a way that cannot be accessed. The main reason people want it is because they want "price go up".
3/ notice how there is no talk of growth rate, economic productivity, or value accured in the coins. Instead it is all market pricing.
It is why crypto has been a failure so far; driven by people who have no idea about the topic.
To elaborate on /3
There is a difference between what value is being produced on a day-to-day basis & what is being traded, and who are the genuine stake holders involved in producing that value.
On the other side, there is another imaginary price(which may sometimes converges with the real value) determined by supply/demand, and some people make a profit out of it, and some people also lose their capital by speculating.
But this disparity exists- what is being produced and what is being traded is indeed different that is why we have seen that huge correction after peaking. After the speculators square off their position, and after a level when a coin deny going lower, we find the genuine true value of the coin. But to know that value we need to traverse that path. Unfortunately, we have not devised any other method to objectively determine the value of an asset, we have left it to the market determinants from the get-go.
Inflation/deflation is debatable. But on /3 I totally agree with you.