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This doesn't seem like much of an improvement over Bitcoin. The main problem with Bitcoin as I see it is its inflation curve and fixed maximum circulation. Th
by motters 15y ago
This doesn't seem like much of an improvement over Bitcoin. The main problem with Bitcoin as I see it is its inflation curve and fixed maximum circulation. This has a pyramid scheme-like effect where early adopters are disproportionately favoured, so that the accusation can be made that these systems are set up simply as a way of enriching their founders.
- llambda 15y agoThis is by design. I'm not sure early adopters are favored at all because their "investments" will gradually lose value as the number of Bitcoins increases. If anything it's the opposite, as I understand it. I've read varying opinions on the matter but it seems that the idea of a fixed currency that inflates at a predictable rate was a design decision meant to keep Bitcoin usable for certain kinds of transactions, i.e. exchanging money between currencies at low rates or giving money to your friend or favorite cause without an intermediary such as a bank. It isn't meant to wholly replace the dollar or euro or yen as far as I can tell.
- DennisP 15y agoThey only lose money if the number of bitcoins increases more than the demand for bitcoins. So far, the exact opposite has been the case, and the coins' value has increased by several orders of magnitude. Bitcoins will max out at about three times their current number. If they were to scale to, say, VISA size, they would be far more valuable than today.
- nazgulnarsil 15y agoare stock options enriching early startup employees a pyramid scheme?
- noagendamarket 15y agoIt opened 2 seconds ago and youre already angry at early adopters ?