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lets assume for the sake of argument some of these platforms aren't scams/bullshit hype and actually add value in some way. like the prediction platforms augur

lets assume for the sake of argument some of these platforms aren't scams/bullshit hype and actually add value in some way. like the prediction platforms augur or gnosis. the main problem, i then see is that if these tokens are required to use the platform, wouldnt their cost be prohibitive? and the platform wont be useful? these tokens are going up in value just like bitcoin which always had actual use (mostly on blackmarket) so their incentives are aligned with the token being used as a currency, but not as an app token that is required for the product. so in effect, these are just over hyped quasi securities offerings and trading.

joosters 9y ago
Even Augur and Gnosis are overhyped IMO, their proponents don't seem to realise that these prediction markets already exist outside of the US. Their only differentiator is that they sidestep existing regulations.
- bluesteel44 9y ago
  Eh, it's like saying bitcoin has no value because electronic payment systems exist. And while I understand some would indeed argue that's the case, to me _trustless_ prediction markets have great value, enabling eg autonomous AI enterprises, self settling smart contracts linked to the "off chain" world.
woah 9y ago
In what way does a higher price for a token stop it from being used?
wmf 9y ago
Presumably the nominal price of the service will have to be adjusted down when a token's value goes up.
tommoor 9y ago
There are several tokens such as Tether and Digix DGD that are backed by real world securities to create a more stable asset that can still be traded with the advantages of a blockchain. Not ideal because you're back putting your trust in the hands of a centralized value store but It's early days… All this to say, not all tokens are created equal and aren't subject to dramatic price swings such as ETH / BTC

joosters 9y ago

Even Augur and Gnosis are overhyped IMO, their proponents don't seem to realise that these prediction markets already exist outside of the US. Their only differentiator is that they sidestep existing regulations.

bluesteel44 9y ago
Eh, it's like saying bitcoin has no value because electronic payment systems exist. And while I understand some would indeed argue that's the case, to me _trustless_ prediction markets have great value, enabling eg autonomous AI enterprises, self settling smart contracts linked to the "off chain" world.

woah 9y ago

In what way does a higher price for a token stop it from being used?

wmf 9y ago

Presumably the nominal price of the service will have to be adjusted down when a token's value goes up.

tommoor 9y ago

There are several tokens such as Tether and Digix DGD that are backed by real world securities to create a more stable asset that can still be traded with the advantages of a blockchain. Not ideal because you're back putting your trust in the hands of a centralized value store but It's early days… All this to say, not all tokens are created equal and aren't subject to dramatic price swings such as ETH / BTC