@framore is on PowPing!

PowPing is a place where you can earn Bitcoin simply by socializing, for FREE.
Never tried Bitcoin? It's OK! Just come, socialize, and earn Bitcoin.
Check out framore's activities
Total Economy: 0 USD
Conference ended. No tokens.
The only thing Ethereum tokens do is allow for pre funding - this means you hand over money and pray that you aren’t going to get ripped off. This model attracts scammers and many people end up losing rather than gaining. The security of multi token systems doesn’t work well either. Each new token is a risk as people just trade and dump for the next new thing. It’s a model which is designed to forever push new scams. Multi token ecosystems also spread security too thin and people end up losing interest in voting which can lead to a small group gaining control over 51% of tokens and then creating a second and a third token to inflate and steal value from main token holders. Bsv is a better model because once you buy the main token you can trust your funds are safe, you don’t have to worry about sitting in a third party token that might exit scam. It’s also better if everyone just holds one main token as it concentrates the demand and the token price goes up more. The only reason you really need other tokens/ecosystems is because your main token doesn’t work, scaling/speed/security is s problem. Bsv can easily be wrapped into other forms to provide other usecases. In many ways bitcoinSV is an advanced defi model concentrated into a single form.
mooncat replied:
What’s the one thing that’s going to take time to reach - stability. So short term stablecoins can maybe provide some benefit until the law of large numbers kicks in and Bsv becomes stable.
framore replied:
Are you saying that BSV tokens are like colored coins? I am not sure I fully understood what you are talking about
mooncat replied:
I’m saying competition will always see people centralise into one dominant token as long as functionality works