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To be fair, as regularly seen in smaller economies - regular money also tends to show no limit to how far it can drop during economic crisis.
by gpt5 5y ago
To be fair, as regularly seen in smaller economies - regular money also tends to show no limit to how far it can drop during economic crisis.
- rapsey 5y agoCrypto is a speculative asset. It was made and promoted itself as money but failed completely in that aspect.
- lamp987 5y agoExcept Monero. Funnily enough, Monero is the crypto that failed as speculative asset.
- thow-58d4e8b 5y agoIt's a similar story with Nano, and it de-masks the true nature of this mania On paper, it's a perfect crypto. Really fast and fee-less transactions, proof of stake avoids the environmental impacts, completely pre-mined, distributed as equitably as you reasonably can, and truly decentralized. But it has one major flaw - no way to get rich quick. No celebrity hyping it up. Nobody is "in it for the tech", it's all a glorified game of chicken
- frankbreetz 5y agoCouldn't you get rich off Nano the same way you get rich off bitcoin? By buying some and then convincing others to spend more on it then you did?
- imtringued 5y agoFreicoin was invented earlier and died faster than any other cryptocurrency. In my opinion the idea of an anti speculation cryptocurrency failing is exposing the entire cryptocurrency space for what it is: gambling.
- wesleywt 5y agoHow has it failed?
- djokkataja 5y agoIt's less useful as money because so many people use it as a speculative asset.
- rapsey 5y agoA useful currency requires at least some reasonable level of price stability. How popular is crypto becoming as a payment mechanism? From what I see it is actually becoming less popular with time. I saw options to pay with crypto way more a few years ago.