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by FabHK 188 days ago
> nobody cares about good tech

Indeed. For example: Chia is arguably decent tech (better than Bitcoin), built by Bram Cohen (of BitTorrent fame), innovative PoSpace+Time. But nobody cares, it's at #450 in market cap, way down below Doge (#10), $TRUMP (#72), Fartcoin (#144), Melania (#375).
3 comments
underlipton 188 days ago
The market cap obsession is part of the problem. Can I use it to buy things, easily? That's the only metric that should count if you're looking for practical use, not speculation.
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NoMoreNicksLeft 188 days ago
A successful cryptocurrent probably has to start by first having a market that is dissatisfied with the available traditional currencies. If that market were to introduce on (with good tech), then it could immediately see the cryptocurrency used for its intended purpose. At that point, if it avoided the attention of speculators (not forever, just long enough for it to get its feet underneath itself) or could discourage those speculators somehow, what happens then?

Is there some other failure mode waiting, or does it take off?

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wat10000 188 days ago
It's hard to measure that directly. Market cap is a decent proxy, albeit inexact. If a coin has a market cap of $1.8 trillion, you know a lot of people are doing a lot of something with it, and it's likely that includes using it to buy and sell stuff to some extent. If it has a market cap of $200 million, then there just can't be many people buying and selling with it, and that means it's pretty likely to be difficult to use that way.
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Imustaskforhelp 188 days ago
Nano is also another interesting one or litecoin etc., basically just having low gas fees I guess and being more efficient but I don't like shilling these products because I personally am a stauch believer in stablecoins and there are stablecoins like USDC's on chains like polygons which can satisfy the function "good enough" for me where they have trust etc. which I don't wish to replicate

There are still some 0 gas fees innovations happening in stablecoin marketplaces which is going to be interesting to see how that pans out.

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nailer 188 days ago
Agreed re Chia, but here’s a counterpoint: MXE is 16,000 times faster than FHE, completely changes the concept of computing (that in order to calculate something you need to see the data) and it as a result Arcium the hottest thing in crypto right now.
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