(IJCH) To Gresham or Not to Gresham, that is the Question?! Why HODL Actually Hampers Mainstreaming (or How Kinesis aims to Solve this Dilemma)
(IJCH) To Gresham or Not to Gresham, that is the Question?! Why HODL Actually Hampers Mainstreaming (or How Kinesis aims to Solve this Dilemma)
IJCH - Inside JaiChai's Head (Meaning: My Warped, Personal Opinions and Musings)
From the Author:
Salutations.
I am JaiChai.
And if I haven't had the pleasure of meeting you before, I'm delighted to make your acquaintance now.
I invite you to interact with everyone, learn, and have as much fun as possible!
For my returning online friends, "It's always great to see you again!"
To Gresham or Not to Gresham, that is the Question?! Why HODL Actually Hampers Mainstreaming
Feeling Like Nostradamus - Again
A few years ago, I wrote: IJCH: Cryptocoins and Thrive-ability - To Gresham or Not to Gresham, that is the Question?!
In the article, I pointed out that hoarding, called HODL - Holding On for Dear Life, will hamper mainstreaming cryptocurrencies.
From the article, I state:
"...Think of it. Think hard. The 'Thrive-Ability' of any cryptocurrency hinges upon its network's growth." - JaiChai
"...helping Gresham's Law become a self-fulfilling prophecy does no good in adding value to whichever token you presently fancy.
Using it does." - Jaichai
"For example, if there are two forms of commodity money in circulation, which are accepted by law as having similar face value, the more valuable commodity will disappear from circulation."
See:
"Why HODLing Is Hobbling Bitcoin's Prospects as a Common Currency"
Article Link:
https://www.coindesk.com/why-hodling-is-hobbling-bitcoins-prospects-as-a-common-currency/
Imagine that?
Kinda sad that it takes years for some of my opinions to be validated.
(Heavy Sigh)
But all is not lost.
Enter Kinesis...
What is Kinesis and how does it aim to Solve the HODLing Dilemma?
The Kinesis system is an evolutionary step beyond any current monetary system available in the world today.
It enhances money as both a store of value and a medium of exchange.
Use is incentivised by attaching a unique multifaceted yield system.
This promotes the use of Kinesis as a currency while distributing back the wealth generated according to proportionate holdings and velocity.
Kinesis has been developed for the benefit of all.
"E-wallet and Debit Card
"Kinesis Yields (Minter's and Holder's)
For more details on Kinesis, its community, white paper, and ICO details, visit:
https://kinesis.money/en/kinesis-etheralabs/
(Portions of this post are excepterd from: https://steemit.com/cryptocurrency/@jaichai/ijch-to-gresham-or-not-to-gresham-that-is-the-question-why-hodl-actually-hampers-mainstreaming?sort=author_reputation)
This is an entry for @ originalworks "980 STEEM ~ Sponsored Writing Contest: Kinesis".
If you desire to submit your own entry, visit: https://steemit.com/crypto/@originalworks/980-steem-sponsored-writing-contest-kinesis
By JaiChai
Mighty Kind of You for stopping by.
Truly hope to see you again!
About the Author
Believing that school was too boring, he dropped out of High School early; only to earn an AA, BS and MBA in less than 4 years much later in life – while working full-time as a Navy/Marine Corps Medic.
In spite of a fear of heights and deep water, he performed high altitude, free-fall parachute jumps and hazardous diving ops in deep, open ocean water.
After 24 years of active duty, he retired in Asia.
Since then, he's been a full-time, single papa and actively pursuing his varied passions (Writing, Disruptive Technology, Computer Science and Cryptocurrency - plus more hobbies too boring or bizarre for most folk).
He lives on an island paradise with his teenage daughter, longtime girlfriend and three dogs.
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Recently saw alot of write up on kinesis. When I read your post, I decided to check it out too. Of course 1st I got to read what is in your head. Lol
You are right that HOLD is hurting it has a form of payment but till it is faster it will stay like that. Bitcoin right now is a store of value not a currency at least that is how I feel. Not sure it will ever be able to scale to be fast enough to be a currency again.
I always thought hodl was just "hold" I didn't know it stood for hold on for dear life. lol! That's funny. Kenesis sounds interesting, I'll have to check it out.
Thank you for subing. I haven't been able to upload videos here at dtube. I have a mediarevolt channel which I will be starting to do live sessions on soon. The link is below. I also post there often.
https://mediarevolt.org/fb_811498212380163/
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