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Some years ago everybody involved with the cryptocurrency universe had a relatively good understanding of economics, markets, agent incentives, game theory and
by fiatjaf 9y ago
Some years ago everybody involved with the cryptocurrency universe had a relatively good understanding of economics, markets, agent incentives, game theory and so on -- even if these people didn't mention any of these terms, they seem to have a natural, logical, grasp of everything that was needed (not much).
Now it seems that people come to cryptocurrencies without knowing a thing, misunderstanding the way people act and the incentives involved, but at the same time making heavy usage of the terms "cryptocurrency game theory", "cryptocurrency economics" etc.
Not to say that this DCA thing is wrong or anything, but I've seen people here trying to create speculation strategies using charts and correlations produced by Python scripts, and lots the new cryptocurrencies and tokens are deadly wrong on their assumptions and incredibly poor in their features, like Bancor or Tezos.
- trophycase 9y agoWhat's wrong with Tezos?
- fiatjaf 9y agoNothing wrong, I just think it is silly. It's only feature is on-chain voting on protocol changes, something that wouldn't have prevented the Bitcoin hard-fork, for example. It also assumes hard forks are always bad and that everything can be agreed upon with votes, as if everybody were always satisfied with election results.
- relyio 9y ago>It's only feature is on-chain voting on protocol changes >It also assumes hard forks are always bad and that everything can be agreed upon with votes Those two statements are incorrect. If you want to understand what it brings to the table, then you should read the position paper: https://www.tezos.com/static/papers/position_paper.pdf https://www.tezos.com/static/papers/position_paper.pdf Or watch a presentation by the lead about Governance: https://www.youtube.com/watch?v=6OWxGqbknFQ https://www.youtube.com/watch?v=6OWxGqbknFQ