Post
Topic
Board Announcements (Altcoins)
Re: Obyte: Totally new consensus algorithm + private untraceable payments
by
tarmo888
on 07/03/2019, 16:26:44 UTC
Men,
Oh yes...
So let every user of byteball estimate what they want to buy in the next 10 years and let them buy gbytes for the coming 10 years. If this is how it is supposed to be used then I don't think so it is usable. 

You don't consider you just got your salary and want to buy a pen? What fee will you accept?

Like I said, if there isn't people who are willing to buy it for that price, somebody will selling it cheaper. Price increases the more valuable Obyte becomes for them and decreases when it becomes less valuable for them. If the fee to make a transaction to buy a pen is too high then clearly Obyte becomes less valuable to use.

But we are talking about fees that require GBYTE prices to be 1000x or 10000x higher, which would mean that Obyte marketcap would need to reach Bitcoin marketcap now. This is not going to happen overnight and you would not going to make purchases of pens on base layer, just like you don't want to make purchases of coffee on Bitcoin base layer. Obyte can have layer-2 solutions too, but it doesn't need them yet because we are not that far yet.