1/ Exactly. I never understood why companies cannot build so-called "tokenized services" directly on top of established tokens such as BTC (yes, BTC was the original token). The whole category of "utility tokens" just doesn't make any sense.https://twitter.com/MaxFangX/status/976031730460012545 …
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5/ I'm a big fan of
@balajis, but I think the argument that buying tokens is akin to buying "paid API keys" to services, and therefore tokens have inherent utility is not quite correct (from https://news.earn.com/thoughts-on-tokens-436109aabcbe …).Show this thread -
6/ A private key has no value *in and of itself*. It can only have value if the thing it protects has value. In the case of company-issued tokens, that hinges on the company actually providing a service & making good on their promises.
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7/ The company can shut down their service, disappear tomorrow, and your paid API keys would amount to nothing. This can happen to Bitcoin too, but you’ll have to shut down the entire Bitcoin network- much harder to do.
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8/ So no, I don’t think ERC20 tokens are “inherently useful”.
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9/ More on token-asset linkage:https://twitter.com/hugohanoi/status/976601253634387970 …
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End of conversation
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This is the only point I'm not 100% on-board with. StarbucksCoin or whatever (when not FORCED to be used for purchase) would be an opt in agreement between consumer and business and useful when both sides feel they can benefit
Thanks. Twitter will use this to make your timeline better. UndoUndo
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