We need your opinion on cryptocurrencies and NFT!
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October 3, 2021, 35 respostas
Some crypto networks do have a valid use case: enabling easy, automated, electronic transactions without the need for an expensive and inefficient intermediary: imagine micropayments in your favorite game, for example, or automatic payments to charge your BEV, without a payment processor skimming off the top. Probably the most compelling use case is the one that nobody has thought of yet--much like the Internet in 1999.
How about a virtual strip club with real-time performers? Crypto could be a good way to tip (I would use a stablecoin for that; nobody wants their tip to halve in value by the end of their shift). For that matter, that could be useful in a meatspace strip club, too. It has been a long time since I have been to one, but I can't imagine a single dollar bill is an acceptable tip for a dancer anymore.
Many crypto networks are changing the way they award new tokens--from "proof of work" to "proof of stake." By awarding tokens to those who are most invested in the network, they'll eliminate the competitive mining process and vastly reduce the amount of energy required to process transactions. Even if they don't reduce the environmental impact, I expect that cryptocurrency is here to stay. You can't uninvent a technology.
The question, as pointed out by @ADMIRERZ, is which ones of the thousands now in circulation will win out. Of course nobody knows for sure, but I'm betting that Bitcoin will endure in spite of its many technical problems, due to brand recognition alone. When your name is synonymous with an entire sector, that's a very strong tailwind. I also think Ethereum has a strong future as the network that will be most used for smart contract applications. If and when Ethereum 2 gets off the ground, it will be one of the networks that minimizes environment impact as I mentioned above.
I don't concern myself with what the value of cryptocurrency will be in 15 days; I'm looking at 15 years. Of course, there's a chance that it will all be worth nothing by then, so I only spend money that I would otherwise take to the casino, I focus on the better-known coins with the apparently strongest use cases, and I don't count the value of my holdings as an asset.
NFTs have no value to me in their current form. I have no interest in holding "bragging rights" ownership in something that everyone can "have" for free. If, in the future, a way to make NFTs exclusive and to put control of sharing into the hands of the NFT holder, that will be a different story. I don't think it's out of the question that that could happen, but for now, no thank you.