Of all the top coins around from the 2017 cycle (ETH, ADA, XRP, IOTA, TRX, and others), Dogecoin was the only one to set a new Bitcoin denominated all time high.
Altcoins are high beta but also high theta.
In the long run, they lose to the superior monetary technology.
@MoonCapital The problem with Bitcoin is that its monetary tech has been broken since inception: https://satoshi.nakamotoinstitute.org/posts/bitcointalk/threads/31/
In order for crypto to actually be money, it needs a way to control supply. Bitcoin has no such mechanism and it creates the wrong incentives, which we've seen play out in the 12+ years since the article above was written.
Nobody uses their Bitcoin! Everybody "hodls" in the hopes they can convert into more fiat later. It's sad. :(
@maff1989 @MoonCapital
bitcoin was already consider obsolete back in 2015 when ethereum came out, now there are even better projects that are less talked about like nano (XNO) which is free to transfer and has no mining
@maff1989 coins with consensus mechanism do control the supply and they have different approaches to how coins are made or burned, the real problem is validator/miner/staker can control how people will use the money, this affects fiats too
@Felipe_B I'm not sure what you mean by "validator/miner/staker can control how people will use the [coins]".
@Felipe_B Why is that a problem that miners can't control how people will use their coins? If the miners can control how people use their coins, then the system is not peer-to-peer.
@maff1989 take the opposite situation as an example, fiat yuan and the shangai stock market, shorting is straight up banned, the validator (china's central bank) is heavily controlling how the coin is used.
Would you use a coin that has no trading or is very limited?
@Felipe_B I would use any coin that is peer-to-peer. In your example, the fiat yuan is not peer-to-peer, since the Chinese Central Bank can halt or ban any transaction they don't like. Obviously this control over the flow of currency is problematic.
I'm most interested in solving crypto's unit of account problem by enacting controls on the coin issuance/redemption in order to stabilize price, therefore making the coin usable in commerce. Lotus #XPI has that goal. :)
@MrFrog give 50
@Felipe_B Nano doesn't solve the monetary issue either.