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Sounds like you are making an emotional argument here. Outright scams do exist in the crypto arena since we are in the early days. But 2-3 decades from now, I c
by Operative0198 4y ago
Sounds like you are making an emotional argument here. Outright scams do exist in the crypto arena since we are in the early days. But 2-3 decades from now, I can see crypto (or some version of it) being robust and ubiquitous.
- chx 4y agoNo, it's a mathematical argument often made and rarely understood: due to transaction fees crypto is a negative sum game and that is all.
- Operative0198 4y agoCrypto is not just Bitcoin.
- chx 4y agoName but one widely used coin which is not a negative sum game. (nano and iota are hardly widely used.)
- Operative0198 4y agoIf we take up those two coins you mentioned and use them then your argument starts to fall. Dash is already popular for payments and transactions with low fees. Bottom line, a total miner capitulation event on any of these coins that are cheaper to mine is 100% unlikely. Computing and energy costs go lower and lower every year.
- chx 4y agoLow fees doesn't change the fundamental negative sum game nature. It's still negative. Zero fee would change that but for obvious reason those do not become popular: you actually need to put in effort to scam with those. The reason bitcoin became so popular is because the only way to win in a negative sum game is to hype up the game and sell your seat and so everyone buying needed to hype even harder. Playing the game only leads to loss. This dynamic doesn't exist with a zero transfer fee coin.