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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 depends on the goal of the crypto
@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
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?
@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.)
@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.