"Low cap, or any cap, staking coins are producing a token that has whatever value users agree on, but has no other real utility, i.e., no intrinsic value."
The only value they need to have is produce BTC. If you believe in BTC, they work. They just need to do it right to stay alive, which about 25 have done so far.
The only value they need to have is produce BTC. If you believe in BTC, they work. They just need to do it right to stay alive, which about 25 have done so far.
Satoshi Nakamoto has a website that discusses the basics of economics.
\edit Thought https://nakamotoinstitute.org/ had a long blog on economics, but cannot find it now.
First you need to accurately understand what a commodity is i.e., a useful product which has limited supply.
From there you can go in the wrong direction and create a useless product which has a limited supply, e.g. a ledger system like bitcoin.
Or you can find a way to transfer actual commodities digitally e.g. commodities created by computer work.
Bitcoin p/o/w. = not a useful commodity, no intrinsic value.
Science ai p/o/w, primecoin is the simplest example = a useful commodity with actual value in terms of other commodities.
To look at it another way, there are an endless number of possible bitcoins, such as hobotokens, ltc etc. In rich times we can play like they are commodities, but when a storm hits you should have a more real thing, not a 'pseudo' commodity.
Namecoin can solve several upcoming problems if it is developed well and not cornered by a gang or interest group.
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Add a separate relevant point/
Every person, belief, etc is on a continuum of globalist/tribal.
For example the productivity software you sell is on the extreme globalist end of the continuum, it could be called meta globalist even.
Your opinions on bitcoin likewise are at the globalist end of the continuum or spectrum.
I have no idea if you are interested in the opposite view, but I'll mention it in case you are.
A tribal group that has security eventually sacrifices defenses in favor of sciences. The example of Tibetan sciences was given before. Tibetans were securely defended by mountains and drifted away from martial skills towards sciences. The Chinese then attacked and the Tibetan sciences now are being destroyed, vanishing.
Marshall Island wave piloting is another well known example. Marshallese had liberty/security to develop that fascinating science. A hundred years ago anybody could go there and witness it. Then the Japanese attacked them. Then the U.S. began playing with nukes there. Today nobody really knows if wave piloting is really possible i.e., look at a patch of ocean and identify the bordering land masses by distance and size etc. In a hundred years it will be considered a fantasy science that never actually existed.
The opposite of those real sciences are globalist things masquerading as science, things intended to consolidate already existing sciences.
For example Einstein is called a scientist, but what he actually did was consolidate/globalize what already existed. He was not a scientist but a technician.
Likewise the specific productivity software. It consolidates, reshuffles the same deck.
The problem is that many globalists do not understand that there are alternate worldviews.
They are trained to pretend that they do, but they are dangerous because actually they do not.
The 'pretending' is seen as, or called, 'virtues', by some people, which makes it even more dangerous.
With regard to tribal groups the first virtue is survival. No globalist virtue exists if that first tribal virtue does not.
