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> $20,000 digital goods are so uncommon it might as well be a fantasy. $20k subscriptions in finance (like a market data live feed) are not only common but eve

> $20,000 digital goods are so uncommon it might as well be a fantasy. $20k subscriptions in finance (like a market data live feed) are not only common but even cheap. Now ask yourself why Wall Street is so much more hyped with blockchains than SV... > You can very easily end up paying a similar price for conversion surcharges and unpredictable daily price swings You don't have to pay with ETH, you could do things like peg your ERC20 token to the USD, 1 of your token = $1, the underlying asset (ETH) can do whatever it wants with the price, your tokens are decoupled from its value. The monetary policy is up to the party that issues the token... Remember: this is "programmable money".

root_axis 9y ago
> $20k subscriptions in finance (like a live market data feed) are not only common but even cheap I'm not saying $20k digital goods are non-existent, I'm saying that they're an extreme niche that does not reflect practical reality for the vast majority of businesses. > Now ask yourself why Wall Street is so much more hyped with blockchains than SV Because SV is more often composed of individuals with a deep understanding of technical topics while finance is more often composed of people who are less knowledgable on these topics and more susceptible to buzzwords and hype (not that this doesn't exist in SV, but it is even worse in finance). This is evident by the fact that nearly nobody in finance is using blockchain tech outside of experimental research and buzzword bingo (unless you count crypto gamblers and traders). > you could do things like peg your ERC20 token to the USD, 1 of your token = $1, the underlying asset (ETH) can do whatever it wants with the price Except that this is even worse than Eth because arbitrary custom tokens are of questionable liquidity at best and impossible to liquidate at worst.
- joeyspn 9y ago
  Stop going off on a tangent... the point is that many [0] see value in a token-powered store. You don't see it? that's ok. [0] https://github.com/brakmic/BlockchainStore/stargazers https://github.com/brakmic/BlockchainStore/stargazers

root_axis 9y ago

> $20k subscriptions in finance (like a live market data feed) are not only common but even cheap I'm not saying $20k digital goods are non-existent, I'm saying that they're an extreme niche that does not reflect practical reality for the vast majority of businesses. > Now ask yourself why Wall Street is so much more hyped with blockchains than SV Because SV is more often composed of individuals with a deep understanding of technical topics while finance is more often composed of people who are less knowledgable on these topics and more susceptible to buzzwords and hype (not that this doesn't exist in SV, but it is even worse in finance). This is evident by the fact that nearly nobody in finance is using blockchain tech outside of experimental research and buzzword bingo (unless you count crypto gamblers and traders). > you could do things like peg your ERC20 token to the USD, 1 of your token = $1, the underlying asset (ETH) can do whatever it wants with the price Except that this is even worse than Eth because arbitrary custom tokens are of questionable liquidity at best and impossible to liquidate at worst.

joeyspn 9y ago
Stop going off on a tangent... the point is that many [0] see value in a token-powered store. You don't see it? that's ok. [0] https://github.com/brakmic/BlockchainStore/stargazers https://github.com/brakmic/BlockchainStore/stargazers