cryptocurrency is not just about crypto. It’s more about currency.
The tech team is good. I love to see NEM to be widely used.
But let’s focus on the economic side of it.
Money is created to carry value. Transaction is important.
Economically speaking, Catapult is a form of inflation. Someone else gain access to the same tech, and the currency XEM is not used in Catapult. Everybody gets diluted in this plan.
So basically to me, Catapult is a piece of shit, and the whitepaper isn’t properly shared to the community.
Listen to me, money is about distribution, consumption and exchange. If we focus on the money side, we are not afraid to share the philosophy behind it. Inflation is a kind of philosophy, because everybody’s share gets diluted by time, so they need to spend to fight for the new issued coins. Without spending, the proof of importance is wasted. And if I have satisfactory share of NEM, said 1%, which cannot be diluted, why I need to spend to keep my position?
Catapult is like the emperor’s new cloth. There is no philosophy behind it, and wasn’t prepared to be critiqued by people.
The whole thing sinks as everybody says when Catapult is out the price will pump. Pumped by whom?