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http://themisescircle.org/blog/2013/08/22/the-problem-with-altcoins/ http://themisescircle.org/blog/2013/08/22/the-problem-with-a...
by stevenwagner 13y ago
http://themisescircle.org/blog/2013/08/22/the-problem-with-altcoins/ http://themisescircle.org/blog/2013/08/22/the-problem-with-a...
- DennisP 13y agoYes, the big question is whether currency has such a strong network effect that one will dominate. Hayek argued the opposite, and wrote a book claiming that a system of competing private currencies would be ideal. There are also a few technical arguments in favor of multiple currencies. At the moment we don't know how to scale a single blockchain to major-currency levels, unless we do mostly off-chain transactions. And with appropriate software, accepting lots of currencies doesn't have to be harder for a merchant than accepting one. There's also some work on cross-chain currency trading without a trusted intermediary.