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You mean a new cryptocurrency altogether? Sure, but it's not worth squat unless you get tons of people on board. With Bitcoin and Ethereum, they already are.
by ralusek 6y ago
You mean a new cryptocurrency altogether? Sure, but it's not worth squat unless you get tons of people on board. With Bitcoin and Ethereum, they already are.
- piva00 6y agoBasically cryptocurrencies' value are completely related to their network effect. WhatsApp on another comment was a good parallel/analogy, still it sounds a bit flimsy that value is tied to an amorphous network of people trying to earn money by mining, not sure how comfortable I feel with that as the only incentive for a whole network keeping my "store of value" afloat. Even more when this network can collapse at any time due to artifical technical limitations (in BTC's case the block size and low transactions per second count).
- ralusek 6y agoThe stock market is more and more detached from the underlying companies that stocks represent, and more and more based on network effect. Most countries currencies are just based off of network effect. Try getting people in Argentina to buy a house using their own currency. Good luck.