4 ms·
I mean - I mostly agree (I'm fairly clear about my distaste for the current crypto market in many of my comments). That said - there is a floor value for a sin
by horsawlarway 4y ago
I mean - I mostly agree (I'm fairly clear about my distaste for the current crypto market in many of my comments).
That said - there is a floor value for a single coin that captures the dark market space. The original use-case for crypto is still there: There are folks who want to exchange stored value for black market goods, in a scope where government regulation is already assumed to be absent because the goods being exchanged are forbidden items.
This is basically what bitcoin was originally. It kept a fairly stable price point around the single dollar mark for use on the silk road ~2010/2011. The problem is that folks started noticing that any time the media talked about it, the price would spike. And that started the whole rollercoaster of speculation that I find absolutely immoral and greedy, that ruined the whole thing.
So basically - amend your comment to "besides gambling and fraud and dark market exchange" and I'd agree.