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> Edit: I thought this was legitimate reasoning behind having your own token. I don't mean it in an inflammatory way. Please explain why you disagree. Because
by PragmaticPulp 6y ago
> Edit: I thought this was legitimate reasoning behind having your own token. I don't mean it in an inflammatory way. Please explain why you disagree.
Because you don't need to create a token at all to tip creators, inflationary or otherwise.
If you want to use crypto, just use an existing blockchain. Or don't use crypto and just create a centralized market that pays out at certain thresholds. Blockchain solutions aren't actually cheaper than centralized solutions, they just hide all of the costs elsewhere in transaction fees and mining payouts.
The only reason to create an all-new token is to have something to sell to people under the guise of enabling value. It was a bad trick when car washes sold car wash tokens instead of letting you pay for car washes directly, and it's a bad trick when crypto companies make you buy their tokens instead of just buying the service directly.
- reedjosh 6y ago> Because you don't need to create a token at all to tip creators, inflationary or otherwise. But if you don't do it through inflationary means, then consumers have to actually send tips and or have accounts. (for better or worse) Inflation is a nice way to build incentives into the currency's structure. Further, Hive has no transaction fees as that's funded via inflation as well. I do like the idea of a streaming value for value service wherein I have a wallet that I top up from time to time, but there are many models that are viable here.