2 ms·
many experimental sciences took, slightly, wrong turns as well early on(chemistry). The failure of most of todays cryptocurrencies is that they have become inv
by 75dvtwin 8y ago
many experimental sciences took, slightly, wrong turns as well early on(chemistry).
The failure of most of todays cryptocurrencies is that they have become investment vehicles.
They are trying to compete with gold on one side (because of limited supply), and financial derivatives on another side (because they are hard to track). Crypto coins become a 'brief-case' of clandestine
global wealth movement (just like many of financial.
instruments )
It is hard to say if those were the objectives of Bitcoin creator. I personally doubt it, but lacking any statements from him, I can only guess.
There are positive things too, of course.
There are new coins that come with well thought out economic envelope model, and some technical innovation that protects them from being gobbled up by hardware-heavy-miners, or drown under its own weight of record keeping.
Notion of tamper proof record keeping, without the need of centralized clearing centers -- that's another useful buzz on the fore forefront of business community.
Clear displeasure with US controlling world policy, through its banking system. Due to US dollar being peg currency of the world (so that anything tradable has to be convertible easily to us dollar). Not sure if this displeasure is overall good or bad. But it definitely makes life in US and anybody who gets paid in dollar -- much much easier, than in the rest of the world.