[feedjoelpie]

What if you having a personal near-guarantee that this weird asset you hold onto stays deflationary _isn't_ the most important problem for blockchains to solve?

Currencies' value lies in their usefulness as a means of exchange. Cheaper operation of the network and faster verification of transactions make for a better currency.

And the more powerful Ethereum-like blockchains that remain on a Proof of Work system are too expensive to perform their most interesting possible duties. Cost and speed improvements are essential for making the next leap forward.

It makes absolutely zero sense to bend to holders' "I must have a guaranteed deflationary asset, or I will complain to all my libertarian friends" desires. There are so many more important things to do with blockchain tech, including more globally important ways to create wealth.

EDIT: "You" is not the parent thread. I'm just expanding on what the parent said.

[xg15]

I'm with you, only I kind of wonder how many people actually see them as actual currencies. In any case I don't think that prospect is what is fueling the current hype.

I remember an article a while back that was arguing that Bitcoin is currently undecided whether it wants to be a currency or an asset. Currently, coins seem to be treated mostly as assets and I don't see indicators of that changing anytime soon.

[feedjoelpie]

IMO the problem with Bitcoin as an asset, over the long term, is that its proponents' nearest comparison is gold. Gold has at least _some_ intrinsic value, and more importantly it has millenia of history as both an asset and a means of exchange. If Bitcoin doesn't get off of Proof of Work, it's entirely plausible that it will be superseded by a Proof of Stake coin that has more utility.

Which is not even to mention my most cryptocurrency-controversial belief: Gold is the only deflationary asset that might not flash-crash into non-existence as a hoarder favorite.