Decent debate about the utilitylessness of most cryptos

Discussion in 'Crypto Assets' started by Pekelo, Jan 31, 2022.

  1. Not true, ETH made the real evolution.
    It's not just capture of your capital anymore, it's also significant time and attention at the computer/phone screen.
    There is jack shit to do on the BTC network. There is more to do on ETH and EVM compatibles than you can handle in your lifetime.
     
    #31     Feb 4, 2022
    Sekiyo likes this.
  2. Yes but the optimal returns are in crypto. By leaps and bounds.
    Don't have to like it but you should acknowledge that.
     
    #32     Feb 4, 2022
  3. Which shows that the ETH version of BTC is better than the original BTC itself.
    What's the value prop of the BTC network then?
     
    #33     Feb 4, 2022
  4. Sprout

    Sprout

    The economic throughput between the two chains is why one is $40k and the other $3k.

    BTC
    24hrTxns: 229k * AvgTxnValue: $123k = $28,202,178,000/Day

    BTC charges $343k/Day for settlement finality


    ETH
    24hrTxns: 1,152k * AvgTxnValue: $5k = $5,990,400,000/Day

    ETH charges $33,408k/Day for settlement finality


    So roughly, ETH charges 100x for security on 1/6 of the economic throughput of BTC.


    ETH is great, it's not hard money though.

    https://bitinfocharts.com/
     
    Last edited: Feb 4, 2022
    #34     Feb 4, 2022
    johnarb likes this.
  5. The economic throughput between the two chains is why one is $40k and the other $3k.

    That doesn't make any sense? ETH at its inception could have been set at $100 a coin, or 0.000000000000001 a coin.
     
    #35     Feb 4, 2022
  6. Sprout

    Sprout


    It doesn't matter, both have and will continue to buildout their networks through price discovery.

    One emerged pristinely from free market dynamics the other was a presale with BTC as a base; 2000ETH per 1BTC.
     
    #36     Feb 4, 2022
    johnarb likes this.
  7. Monero is super easy. Yes it does require some education but IMO it's worth it.
     
    #37     Feb 4, 2022
  8. To use it in the optimal way, which is the only correct way to do it IMO, is just too technical for the average crypto user.
    The masses do not care anyway, and most of the ones that do, will not educate themselves to that degree.
    You don't have to take my word for it, just look at what the market tells you. It's a niche segment of the crypto market. But very dedicated & very serious.
     
    #38     Feb 4, 2022
    nooby_mcnoob likes this.
  9. I dont think utilitylessness is a word...

    ...but it should be!!!
     
    #39     Feb 5, 2022