Gold is not it. Gold is more reliable since it is not connected to a country, but it is both a deflationary store of value and a product unto itself. It is subject to any number of market forces and fluctuations. What I am talking about is a unit of measure, not simply a widely valued commodity.
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Gold is the most “reliable” unit of measure we have ever had…and as a commodity it’s also the most liquid. Everything is susceptible to market forces because well it’s a market and gold has weathered those forces for thousands of years. However, i agree with you especially if you are alluding to the elasticity of paper money (which is a feature that is often abused) and because of this I think everything should float against one another rather than a hard peg. Gold + blockchain should make Gold an even more reliable unit of measure or a steady unit of measure in a basket of currencies that float against each other.
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Take a look at TrustToken https://www.trusttoken.com.
TrueUSD (TUSD) already trades on Bittrex.
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That’s a good point, and I didn’t think of mentioning this:
Cardano is supposed to be an advanced, scalable dApp platform first and foremost. When applications deployed on Cardano want to do some computation (e.g. a transaction of some token, or playing Cryptokitties), then the nodes that actually execute them (and spend CPU, memory, storage and network resources on them) get paid some ADA for their trouble. If there are lots of dApps running, then nodes will see sufficient business to make it worth their while.
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Thanks for your reply. Logically it makes sense, a type of supply and demand in the form of economics!
Of I were a Master Node pd ADA, why would I ever vote to mint more coins? That would lessen the value of my current coins!
Other than coins being corrupt, I see no need for more coins.
Which, if they were ever corrupted, bad coins burned, new coins issued - one for one
Because the cost of mining one token is < than buy one
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Implemented as an ERC20 on Ethereum.
Don’t know if raising an older thread is bad, but Im new to staking!
As people try to wrap their minds around digital assets, it seems we are fixated around whole integers, namely 1. also the notion of value vs. scarcity. Being a fan of “antiques road show” i can say that scarcity does relate to value, but is by no means a dictator of ‘national treasure’ price status!
The amount of staking rewards may go down, but the value could remain the same. Meaning that the cost of 1 ADA goes up. I would be happy with .01 ADA if 1 ADA was $100.
The blockchain first goes up by integers but then recursively integrates back to the Lovelace.
-cheers