Interesting developments with Miamicoin.. I wrote about it in November, summarising Vitalik's thoughts -->
"Vitalik argues that the economic model of CityCoins is tilted towards the early adopters and so whilst it might make sense in the short term, it is a risky strategy."
Look forward to digging into your newsletter Jonathan.
While not unique to crypto, I do feel the economic incentive for early adopters is extreme in many of the crypto business models out there today. Ultimately this will hurt broader adoption and contribute to the Ponzi scheme label these businesses have already been addled with.
Totally agreed. What I'm reading is that a crypto bear market is not necessarily bad. 1) useless coins will go bust 2) new ideas/cryptos often created in bear markets.
Interesting developments with Miamicoin.. I wrote about it in November, summarising Vitalik's thoughts -->
"Vitalik argues that the economic model of CityCoins is tilted towards the early adopters and so whilst it might make sense in the short term, it is a risky strategy."
Look forward to digging into your newsletter Jonathan.
While not unique to crypto, I do feel the economic incentive for early adopters is extreme in many of the crypto business models out there today. Ultimately this will hurt broader adoption and contribute to the Ponzi scheme label these businesses have already been addled with.
Thanks Mark! Hope you enjoy the reading.
Totally agreed. What I'm reading is that a crypto bear market is not necessarily bad. 1) useless coins will go bust 2) new ideas/cryptos often created in bear markets.