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The thing is that the trading price of crypto does not mean anything to its adoption or utility. You can write a payout algorithm that grows the monetary base s
by zanny 8y ago
The thing is that the trading price of crypto does not mean anything to its adoption or utility. You can write a payout algorithm that grows the monetary base so fast the price can't appreciate. That coin could become unbelievably successful without ever being a viable dragon horde to sit on of endlessly growing value due to scarce supply.
Its really a reflection on the doomed state of the mainstream crypto mindset to only really care about getting rich quick in fiat off cryptocurrency bubbles. Bitcoin doesn't matter as a currency, it matters as a pyramid scheme. The people investing in it for personal financial gain dramatically outpace those trying to use it to overthrow fiat hegemony.
There have been coins like peercoin and Steem that have in small regards or parts tried to push the adoption envelope as a usable exchange medium over the pyramid scheme, but they are few and far between and their general unpopularity really shines a light on where the scenes true values lie.