You are viewing a single comment's thread from:

RE: Thoughts on China’s forthcoming Digital Yuan

in #newsteem5 months ago

Hey @codingdefined, nice to hear of you again, how have you been?

I think the root problem is that different people want different things to succeed, depending on their own position. And that situation occurs even within a project and/or group of people. For example Steem itself: suppose person A on Steem invested 1 BTC to buy 10,000 STEEM tokens with, end now because STEEM price has fallen against the Bitcoin can only sell those 10,000 (maybe now due to inflation 11,000 tokens) for 0.16 BTC: that's 0.84 BTC gone, for this person. And person B did the opposite: sold 10,000 STEEM in exchange for 1 BTC and is now considering re-investing that 1 BTC to buy back 60,000 STEEM tokens.
Person A at this point wants STEEM price to go up, person B right now wants price to come down.
It's all dependent on one's current position and outlook.

This type of interpersonal preference divergence occurs in many aspects of life (not just crypto), but one specific additional problem exists in the cryptosphere: decentralisation, decentral control, needing consensus. One the one hand that "feature" is very interesting as it doesn't require a strict dependency on one entity to steer an organization. But on the other, it can also lead to being indecisive, as it takes some convincing to meet likeminded people to work with and make things happen.

And this is just one relatively trivial aspect, of crypto and blockchain. I could write several essays, books even, about this topic, but let's not do that in this one comment! ;-)