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So I will be releasing my own cryptocurrency in the next few months.
I'd love to hear everyone's opinions on what characteristics make for a good cryptocurrency.
#investing #crypto #cryptocurrency #bitcoin #ethereum #cardano
@freemo@qoto.org
Cryptocurrencies are casino chips, which chip is better than the other? Who knows. It's all in the eyes of the beholder.
@johnnada Right, im asking about what each persons beholding eye is most attracted to in terms of features.
The big difference between a casino chip and a cryptocurrency is that cryptocurrencies are adding functionality to money we never had before. Thats huge.
@freemo@qoto.org
Yeah it's huge, until the lights go out.
Missing Features
- instant convertibility to cash anywhere any time
- ability to settle any bill anywhere any time any vendor in "crypto"
- value stability (must it really be "worth" some random value every day based on how many neetbux Creepy Joe and the ZOG Fed are paying into Scrub accounts this month?)
Consultation check in the mail to John Nada Enterprises thank u
Umm those arent missing features at all, I literally have all of that from my crypto.
> instant convertibility to cash anywhere any time
There are dozens of different cryptobacked debit cards. You keep your money as crypto, go to any atm you want at any time, withdraw it as cash. Instant conversion.
> ability to settle any bill anywhere any time any vendor in "crypto"
There are a few banks now that let you keep crypto in your bank account. In that case they provide the functionality above as a debit card, but they also now, as a normal bank account, allow you to pay any bill directly with your crypto too (through the usual ACH or IBAN systems depending on country).
Again I do this, virtually all my bills are paid directly via crypto
> value stability (must it really be "worth" some random value every day based on how many neetbux Creepy Joe and the ZOG Fed are paying into Scrub accounts this month?)
Also incorrect here, this depends entirely on the crypto you go with. There are a huge swath of what are called "stable coins" that have pegged value to an underlying commodity (such as goal) or fiat (such as USD). Their price is guaranteed to track the underlying commodity.
> Consultation check in the mail to John Nada Enterprises thank u
Not the best consultation (or very well informed) if every point is incorrect ;)
@freemo@qoto.org
And not the best product either. What's the point of this magic money? Don't we already have Fed fake money to buy stuff with?
And if we want to go gamble, there must already be 1000's of "crypto" shite out there to choose from. What's the point of yet another one? And another. And another. And
I think its showing that you are just really uninformed ont he subject. It fprovides features fiat does not, thats the whole point.
Bitcoin was mostly about being able to freely, at no charge, and instantly transfer money around the world. As well as eliminating the feds ability to seize it or print more, garunteeing deflation.. it was the start.
Then you have a ton of other cryptos that came along adding other features that didnt exist in older cryptos or in the feds version of money.
Smart contracts are the biggest win in terms of features. It eliminates the usual legal contracts (which are subject to the subjective opinions of a court and quite costly to enforce) with software contracts that server a similar though automated purpose. This ensures you can make agreements with people or systems that are garunteed enforced as the source code states.
So for example in the simplest form you might use a smart contract to create a joint bank account. In doing so no one can ever circumvent those rules (and for example overrule your signature), not even with a court order.
Then you get into more complex smart contracts that provide everything from gaming currency to loans, to distributed exchanges. Not to mention interest bearing accounts and more.
The fact is there are countless features cryptos are bringing to the table that never existed, and if you really think they dont then you simply dont understand the tech. Keep in mind i didnt even talk about the other features, just smart contracts are huge.
