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RE: ALT WARS! Episode I: Wavesplatform mainnet launched.

in #altcoins9 years ago (edited)

Well I can see what all this excitement is all about, but there is still a trade off involved, which is ovelooked on the basis of offering security against volatility.
The issue is that Waves is built on top of the traditional and currently obsolete credit Institutions infrastructure, in order to offer pegged blockchain tokes (sort of pseudocurrencies, $, € etc.). It means that if one day for some reason they decide to stop interacting as gateways, then all those holding savings on those tokens are officially bankrupt.
I may be wrong, but still take sometime to think again how you may use the platform at your own benefit, by first assesing its trustless nature.
Afterall, this is Bitcoin's most valuable feature. Volatility is just a side effect of:

  1. The constant war of those turned obsolete against bitcoin. The remittances only, not to mention interest based profits are huge so they will not go down quietly.
  2. Bitcoin's infancy, despite the exponential growth its adoption and development has experienced already, make the exchange rate sensitive to events such as sanctions against Russia, or default of Venezuela.
    Of course my points about bitcoin hold true for any other altcoin that is built upon the same principles. I think anyone who is into crypto currencies should have a part of his savings in btc or other similar crypto currency as a hedge against any type of "force majeure".
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Yes, Waves values it's practical use over the trustless enviroment. This is why I believe it will be successful, it may not uphold the "crypto" ideals, but it will be a useful tool for users and corporations alike, if it works as intended.

what you state about the partnerships is completely true. Waves depends on them to operate. lets see what happens! :)