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You can't really decry bitcoin or ether for volatility. They are technologies that, given their intent, have never come close to saturating their intended marke
by zanny 9y ago
You can't really decry bitcoin or ether for volatility. They are technologies that, given their intent, have never come close to saturating their intended market. Of course if bitcoin gains adoption and more people want bitcoin the price goes up.
That doesn't mean there aren't structural flaws in their design (mostly meant to enable their initial success) but I don't think you can make a cryptocurrency that can simultaneously attract interest while also not appreciating from that interest. In order to implement a coin payout algorithm capable of handling an influx of on-chain activity you basically tell your early adopters "hey, this is a new and unproven thing, but if it takes off the algorithm just devalues it anyway to keep it where it is at" so you don't even have the selfish self-gamble motive to profit off it and thus no reason to participate if it isn't already a successful means of exchange.
The tech is great though.