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That is fine if you consider cryptocurrency as an investment. But if the goal is to be used as a currency(which is what this integration is about), then it is n

by xfer 6y ago

That is fine if you consider cryptocurrency as an investment. But if the goal is to be used as a currency(which is what this integration is about), then it is not acceptable.

skybrian 6y ago
Volatility is a problem but they claimed that users might mitigate this by not holding for very long with ordinary transactions. I’m somewhat skeptical. But given that speculation drives much of the interest in cryptocurrencies, they might succeed anyway.
CynicusRex 6y ago
> That is fine if you consider cryptocurrency as an investment. Investment is a misnomer because it doesn't produce or fix anything in the real world, nor pay dividends. If you invest in a company that 3D prints modular homes you'll get a piece of the profits through dividends. Crypto“currencies” do nothing of the sort. You have to sell to a greater fool to profit. Meanwhile, the originators have trivially created digital tokens from thin air, backed by a mere white paper or faulty proof of concept, and consequently profit wildly by mere shilling. Yes, similar pyramid schemes occur in the stock market as well, which I criticize just as much. If it's an actual currency then it's not an investment but a conversion.
- chillchurch 6y ago
  A good number of cryptocurrencies do provide real world value, just because it is not a physical good doesn't mean the value doesn't exist. And many of the cryptocoins are Proof of Stake, or planning to switch to PoS (such as Ethereum). This, besides requiring far less energy than the Proof of Work mining for block validation, allows someone who purchased the coin to gain more coin. By staking coin to assist in the validation of blocks, stakers are rewarded a percentage of the transaction fees as payment. They do not need to buy equipment to mine and effectively earn interest on staked coin. Even if you bought in at the point a coin stabilizes and no longer appreciates, you could still increase your wealth without needing the price of the coin to increase.
baby 6y ago
It’s going to be a pour currency due to the volatility unfortunately, it’s more like a stock that’ll act as a poor-man currency.

by xfer 6y ago

That is fine if you consider cryptocurrency as an investment. But if the goal is to be used as a currency(which is what this integration is about), then it is not acceptable.

skybrian 6y ago

Volatility is a problem but they claimed that users might mitigate this by not holding for very long with ordinary transactions. I’m somewhat skeptical. But given that speculation drives much of the interest in cryptocurrencies, they might succeed anyway.

CynicusRex 6y ago

> That is fine if you consider cryptocurrency as an investment. Investment is a misnomer because it doesn't produce or fix anything in the real world, nor pay dividends. If you invest in a company that 3D prints modular homes you'll get a piece of the profits through dividends. Crypto“currencies” do nothing of the sort. You have to sell to a greater fool to profit. Meanwhile, the originators have trivially created digital tokens from thin air, backed by a mere white paper or faulty proof of concept, and consequently profit wildly by mere shilling. Yes, similar pyramid schemes occur in the stock market as well, which I criticize just as much. If it's an actual currency then it's not an investment but a conversion.

chillchurch 6y ago
A good number of cryptocurrencies do provide real world value, just because it is not a physical good doesn't mean the value doesn't exist. And many of the cryptocoins are Proof of Stake, or planning to switch to PoS (such as Ethereum). This, besides requiring far less energy than the Proof of Work mining for block validation, allows someone who purchased the coin to gain more coin. By staking coin to assist in the validation of blocks, stakers are rewarded a percentage of the transaction fees as payment. They do not need to buy equipment to mine and effectively earn interest on staked coin. Even if you bought in at the point a coin stabilizes and no longer appreciates, you could still increase your wealth without needing the price of the coin to increase.

baby 6y ago

It’s going to be a pour currency due to the volatility unfortunately, it’s more like a stock that’ll act as a poor-man currency.