Nope, still does not make any sense. All reasons you listed are benefits for the companies & creators themselves, not for the end users. Utility tokens actually hurt the end users, and do not solve a real problem.https://twitter.com/hugohanoi/status/976601253634387970 …
But with all due respect, I still don’t see the point. Nothing changes here. All you’re doing is allowing companies to outsource the risks normally associated with utility tokens (if the companies were to launch their own) to somebody else - the OST token.
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The same risks still apply. Higher liquidity & volatility risks compared to using an established “money” token like BTC directly. More importantly, the risk of OST going under, which would instantly makes all OST & BT tokens worthless.
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Not to mention the *added* risk of having to trust the OST platform & wallet for always honoring the fixed BT-to-OST conversion rates.
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All this complexity for the sake of putting an extra layer of friction (multiple representations of essentially the same thing) in front of the user. Sorry but I don’t see the point.
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To add: OST is essentially competing with BTC to be the backing asset here. But unlike BTC, which is decentralized & has something real behind it (the PoW chain), OST is centralized & is not backed by anything.
End of conversation
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the moment they fail, their price on the market would immediately drop to zero.