Content pfp
Content
@
0 reply
0 recast
0 reaction

Roko pfp
Roko
@rokomijic
The name "Cryptocurrency" is a misnomer. Cryptocurrencies are not actually currencies, even though they are based on cryptography rather than violence. They're crypto-based versions of precious metals, bonds and stocks. They should actually be called Cryptometals and Cryptobonds and Cryptostocks.
1 reply
0 recast
0 reaction

Roko pfp
Roko
@rokomijic
An actual crypto-currency is the hardest crypto-asset to make and so far nobody has actually made one. Well, there were attempts like $DAI before it added dollars as collateral, and $RAI that has very little adoption (and a future clone of RAI called HAI might be the most interesting attempt at cryptocurrency).
1 reply
0 recast
0 reaction

Roko pfp
Roko
@rokomijic
Why is it hard to make a Cryptoasset that can be used as currency? Well, for one thing, there isn't actually much demand for it! People don't need a Cryptocurrency. Fiat currency works, mostly. What people really need is Cryptometal.
1 reply
0 recast
0 reaction

Roko pfp
Roko
@rokomijic
Cryptometal is a way to hold something like gold, without the fuss of actual physical gold bars that are annoying to assay and heavy and bulky and slow to transfer to other places. "Gold but without the downsides of physics" is incredible, it has gone up by something like ten million percent since Satoshi invented it
1 reply
0 recast
0 reaction