problem is around here, everyone's carried away with all this innovation nonsense, i guess that comes with the nerdy territory. however there is very very little understanding of even the most basic economic models.
you ask the average tool what gives fiat its value, they prattle on about gov and guns etc...without the slightest understanding.
then you get the tin hat crowd with their fractional reserve leading fiat creation debt money dribble
ask how bitcoin gets it price and u'll get a commodity tends to be priced towards the cost of production equal absolute bs dribble.
i can absolutely say without reservation that any community that even slightly believes in any of the above has less the ZERO chance of creating a usable currency.
so disconnected from reality despite your self-gratifying erroneous believe that you have some amazing insight (because u watch a few youtube videos) above the average joe's.
then the rest of the crowds is here simply for the fiat; well atleast that makes sense.
but whats missing is the real opportunity to create something of value, like i say often, the only thing good to ever come out of crypto todate is the; idea.
the best innovation, won't be all the bs bells and whistle everyones trying to sell here, but something that makes it all simple.
Very Well Put, I think I am at this stage of crypto crisis also! But lets still have fun and maybe we will accidentally make the most stable coin ever made! Here is my idea for the coin...
First of all, I would like to see a coin that touts special Functionality develop everything first (all BS bells and whistles) and then roll out the blockchain. You would think this is how it should work right?
Secondly I would want to see a group try to develop a coin with my new WYPIIWYGO algorithm. What You Put In Is What You Get Out Algo. Then no one could ever lose any money and the economy would only surge forward as it depletes FIAT! New meaning to burn technology is we burn all FIAT going into the coin!
Then you are really gonna have to use the dam coin right!!
The price will always be .00000001 satoshi per coin though and still be worth a dollar. That's right so it will never go down in price ever! If you buy it for cheaper than a dollar someone gave you a discount then. Since to get back in it would cost you 1 dollar in any Fiat Currency and then we BURN it coming back in! Or instead of Burning the currency we could just give it back to the Government and say thanks but no thanks!
Now for people who are serious about value and alternative economy functionality, all you would need to do is issue a coin for every dollar sent in. But that takes a worthless dollar to buy a worthless alt coin, although that does make it even at the entry point, lol
Burning the Dollar worth of FIAT secures the economy from being depleted by profiteers! And No Pump and Dump cuz you ain't taking profit out of this coin ever! You can profit internally though by bartering.
Aww but how would we know people really sent their money in to get the coins, do we look for a pile of ashes? Oh well back to the drawing board.