| Can we please dispense with the ad-hominem attacks? I've been following cryptocurrency since 2009/2010, and I've worked adjacent to the space at one point. There are plenty of us who were enthusiastic about cryptocurrencies before the narrative moved away from distributed systems and turned into a pure financial play for everyone involved. > There are plenty of other coins however that are doing super exciting innovation. The real question is: Why must they be coins? Why can't they simply develop blockchain technology that doesn't revolve around inventing an all-new currency? The competition for innovation is fun. The competition for everyone to buy each cryptocurrency on exchanges and then pump it across social media is not. I'll be excited again when we can stop inventing new currencies left and right and just skip straight to distributed systems for managing our existing cash. I don't want to have to invest in 20 different cryptocurrencies out of the 1000s on the market just to be able to interact with all of the different systems. I don't want to manage my payment methods like investments. And frankly, I don't think the average person cares about the underlying innovation because they just want to speculate. |
To make it trustless, provide a proper incentive model, and for security.
> just skip straight to distributed systems for managing our existing cash
That doesn't work. Fiat is tied to nation states and are under direct influence by them. One example is how after Trump's term a lot of countries have been divesting away from having so much of their reserves tied to USD.
The other thing is removal of middlemen and having transparent and predictable inflation. You can't do that with fiat. There's central banks that will always be there. Even if you distribute the processing to remove Visa and the like, you will always have the central banks there.