| What I don't like about cryptocurrencies are the mining methods that are all "fastest gun in the west" and/or "I got lucky - gimme coins!" "Public" tracking of transactions is interesting - but gets to be unwieldy very quickly There probably ought to be a mix of "everybody has/can verify/sees every transaction" and "no one cares that THIS cryptocoin bought a donut 8 years ago - get over yourself already" I would like to see a mechanism of aging-out transactions after X period of time, or X number of transactions, or some combination of the two There also needs to be a way to penalize hoarders - if cryptocurrencies are supposed to be CURRENCY, they need to be in circulation. Artificially removing currency form circulation as some kind of "investment" technique hurts the currency as a whole (especially with capped currencies like Bitcoin). Using "traditional" currency as an example, when you deposit your money in a bank, it doesn't stay there - it keeps moving around[0]. Money that gets stuffed into a mattress, on the other hand, intrinsically loses value (and not merely because of inflation) because it's not being used. Additionally, money that's hoarded becomes a risk to the hoarder - have a house fire? It's gone. Someone breaks into your root cellar where you cleverly disguised your stash in empty pickle jars? Gone. With no recourse. The same happens with cryptocurrencies that stagnate. I know I have a couple bitcoin lying around on a harddrive somewhere. That I can never access. Because I lost the wallet access code. Yes, it's my fault for forgetting. But they might as well not exist, since they're inaccessible. My flub hurt the entire Bitcoin ecosystem (to some degree) because they can never again be circulated. --------------- [0] https://www.investopedia.com/terms/v/velocity.asp |