@MOHAMED So you prefer PoW coins?

@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

@johnnada

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

@johnnada

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.

@icedquinn

True, though its a relative scale. USD is far more stable than Ethereum for example.. Though USDT is, unsurprisingly, just as stable as USD.

@johnnada

@icedquinn

USDT is pegged to USD.. USD is a fiat, so it isnt backed by a commodity but rather backed by the us government itself (As is all fiat).

@johnnada

@icedquinn

Currencies are generally compared to eachother.. how many you can exchange one for the other and watching how that relative exchange rate changes. Keeping in mind it is only the relative change that matters and the absolute value doesnt. So a single price point at a single point in time would tell you nothing.

You can of course look at indexes that show the buying power of a particular currency. But keep in mind that has a lot to do with the import/export relationship of the country and to some extent the wealth of the country.

@johnnada

@icedquinn

Comparing USD to BTC is a bit unfair. USD is priced to stimulate economies and improve the countries overall wealth. Doing that actually requires a currency undergo reasonable levels of inflation.

BTC and other cryptos, on the other hand, are not bound to a nation or to a specific group of people. Its goal is not to stimulate economies or improve wealth generation. Its goal is more so to be a vehical for investment. So in that sense we want to see it undergo deflation rather than inflation.

@johnnada

@icedquinn

Even as a money, its still not associated with a government or people. Which makes it extremely unique as money goes.

@johnnada

@lucifargundam Very true.. what does the goal of the crypto have to be in order to encourage you to buy it then? Whats the most appealing goal?

@freemo @lucifargundam anonymity, speed, scalability, and memeworthiness.

@zpartacoos

lol @ meme worthiness :)

@lucifargundam

@freemo
Again, it depends. Novelty crypto is cheap. Something aiming to replace what Bitcoin used to be would mean to do serious implementations and requires a lot of effort to promote/maintain. That would justify spending more depending on regular statistical performance reports. If this is a crypto just for use of the fediverse or in this instance, the value would be less than Bitcoin but somewhat higher than a mere novelty.

@lucifargundam Say the coin garunteed its stability through a bonding curve?

@freemo that provides confidence, but not incentive. So far I'm willing to dish out a little bit- test the waters with a toe so-to-speak.

@lucifargundam Indeed, and incentive is exactly what im hoping to add :) I just dont want to say how yet.

@freemo depending on the intent of the currency, I may be more interested- and I would be more confident if I knew how you were going to maintain that intent. As for which kind of 'features' I would look for in a crypto atm, I'd like one where I didn't have to report it or pay taxes. After that, animosity and ease of use(how easy it is to trade,buy,sell,gift,etc.)

@AmpBenzScientist Arent all cryptos already providing much of that data?

@freemo Afaik, Folding at home had the best performance and outperformed all known super computers. Imagine if that was wasted on blockchain. It wasn't, humanity came together in goodwill.

@AmpBenzScientist We have proof of stake architectures and many others.. its not a one or the other thing.

@freemo Maybe you could get enough funding to do "research" with your own dam. :3

@AmpBenzScientist Funding isnt an issue for me. But I am debating certain properties of the coin im designing and what i want to code into it.

@freemo Maybe a qubit like split so there are multiple tokens that correspond to what would be a single token.

@guizzy
What about a coin that was virtually garunteed not to have its value crash?

@freemo a trustless way of guaranteeing that would surely be a huge incentive for investors

@guizzy

@arteteco I would like to create something that, once mature, is used as an everyday currency. This will likely be an ethereum token (and later a ADA token once it matures). So PoS is where its headed regardless. It seems to me volatility is a barrier to adoption. Coins are either wildly volatile (like ethereum) or entierly stable (like USDT). Neither of which encourage people to invest in it. So the core idea behind my coin (there is a lot to it actually this is just the mile high benefit) is that it is semi-stable.

What i am considering are various modes on top of the equations I already have that may dictate when and how coin is printed and distributed to help encourage a healthy market for the coin.

With fiat we have governments printing it when economies arent doing well and distributing it through loans.. That approach wont work on crypto but my approach is similar in nature whereby the coin adjusts various parameters in order to improve the market and encourage the value of the coin.