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Sadly currencies rely on network effects even more than instant messengers to be really useful. The fact that most people look at cryptocurrencies just like the
by darkwater 5y ago
Sadly currencies rely on network effects even more than instant messengers to be really useful. The fact that most people look at cryptocurrencies just like they were stocks and comparing against a buying/selling price in USD should be pretty clear. I know that people also invest in currencies and gain money on exchange fluctuations but it's more a "side effect" than the main purpose. With cryptocurrencies is the other way round instead.
- matheusmoreira 5y agoWhich is why I decided to accept XMR. I thought maybe that'd start something. The system is literally right there just waiting for us to use it. I also remember seeing at least one artist accepting XMR for cryptocurrency-related art. Plenty of people were spending XMR on that person.
- immibis 5y agoAll kinds of things rely on network effects, yet they managed to get started anyway. Reliance on network effects is not a reason to instantly dismiss something. Or else there would be no Hacker News.