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RE: Cryptoeconomics: A Brief Discussion
"If your goal is to replace the dollar, I think you're kind of missing the point. What's so revolutionary about what we're doing isn't that we're making a "better dollar" it's that we're monetizing entirely new things."
Wow. In three lines you changed my view on cryptocurrencies. Amazing statement.
I know your a fan of thinking from first principles, just wanted to say you do it really well.
There needs to be a definition on that "entirely new things" or it can mean anything. Vote manipulation for example monetizes a cheap way to make money and makes actual good content an afterthought.
Yeah but that is a bit of a strawman, especially if it makes you believe that is the actual goal of competing cryptocurrencies. I mean there are probably some people that say this, but a lot of the cryptocurrencies I've been into, they want to replace the whole system, not just the dollar, but banks, financial institutions, law institutions (with smart contracts), corporations/organizations (with DAOs), exchanges (with DEXs), they want to bring a solid money to the unbanked, and bring it to IoT devices, they even want to change the internet itself! And Steem is included in those.
So both options are available and thus everyone is right
"If your goal is to replace the dollar, I think you're kind of missing the point" I have to disagree with this point. There is potential for cryptocurrencies to replace the dollar AND to create entirely new economic systems, we just don't know yet which happens first (or if it actually happens).