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> Just the ones that want to act as a store of value. No. It's all of them. > There is nothing inherently about smart contracts that necessitates this What d

> Just the ones that want to act as a store of value. No. It's all of them. > There is nothing inherently about smart contracts that necessitates this What do "smart" "contracts" have to do with this? There's a simple fact of life: every cryptocurrency has a limited supply. So, the people who got to it first will get significantly more than anyone in the future.

EGreg 4y ago
Smart contracts are what powers most tokens. That's what it has to do with it. You can put any rules you want, but typically you want to prevent a small group from inflating or dumping the coins. How you do that is up to each designer.
- smoldesu 4y ago
  It still wouldn't matter. There's not a single cryptocurrency on the planet that will deliver us from capitalism until it's market cap surpasses the USD (hint: as long as the IMF exists, this will never happen). Until then, the US government still dictates how capital moves. Furthermore, even if crypto wasn't a second or third-class currency, there's no fair system of governance or administration that could assure that capital is being distributed equitably. You're suggesting a system that is ripe for abuse, and then denying that anything bad will happen because you haven't put forth any concrete solutions. You can wax philosophical about decentralized network and fighting "the man" all day, but this kind of armchair debate is why nothing ever gets done in the crypto space. The advocates refuse to let their actions speak louder than their words.
- dmitriid 4y ago
  You keep responding to something else that has literally zero relevance to what I'm saying, and to reality. Facts of life: - all cryptocurrencies have a limited supply - all cryptocurrencies are built to be deflationary - in all cryptocurrencies 50 years from now people will be getting fractions of a fraction of a coin because currencies have a limited supply - if you get one/two/ten <coins> of whatever currency early, they will inevitably make you rich in comparison to anyone 50 years in the future because you got hold of something that is by definition in limited supply (well, in case this particular coin has any particular value or even exists in 50 years) None of this has anything to do with inflation or dumping coins, or "smart" "contracts".

EGreg 4y ago

Smart contracts are what powers most tokens. That's what it has to do with it. You can put any rules you want, but typically you want to prevent a small group from inflating or dumping the coins. How you do that is up to each designer.

smoldesu 4y ago
It still wouldn't matter. There's not a single cryptocurrency on the planet that will deliver us from capitalism until it's market cap surpasses the USD (hint: as long as the IMF exists, this will never happen). Until then, the US government still dictates how capital moves. Furthermore, even if crypto wasn't a second or third-class currency, there's no fair system of governance or administration that could assure that capital is being distributed equitably. You're suggesting a system that is ripe for abuse, and then denying that anything bad will happen because you haven't put forth any concrete solutions. You can wax philosophical about decentralized network and fighting "the man" all day, but this kind of armchair debate is why nothing ever gets done in the crypto space. The advocates refuse to let their actions speak louder than their words.
dmitriid 4y ago
You keep responding to something else that has literally zero relevance to what I'm saying, and to reality. Facts of life: - all cryptocurrencies have a limited supply - all cryptocurrencies are built to be deflationary - in all cryptocurrencies 50 years from now people will be getting fractions of a fraction of a coin because currencies have a limited supply - if you get one/two/ten <coins> of whatever currency early, they will inevitably make you rich in comparison to anyone 50 years in the future because you got hold of something that is by definition in limited supply (well, in case this particular coin has any particular value or even exists in 50 years) None of this has anything to do with inflation or dumping coins, or "smart" "contracts".