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Where the definition gets confusing is when a cryptocurrency gives you voting rights to modify the underlying protocol, or determine the direction of an entity
by antasvara 3y ago
Where the definition gets confusing is when a cryptocurrency gives you voting rights to modify the underlying protocol, or determine the direction of an entity that manages the underlying protocol, etc.
There isn't (AFAIK) a commodity that operates in this manner. Owning a lot of gold doesn't mean that I'm able to unilaterally adjust how gold is mined or obtained, for example.
- duskwuff 3y agoOr when a cryptocurrency has bizarre rules controlling how it can be traded -- for instance, a number of Ethereum tokens like Safemoon had rules enforcing a "tax" on all transfers, ostensibly to reduce volatility.