Original archived Re: The New Altcoin season has begun
Scraped on 11/08/2025, 16:30:04 UTC
I appreciate your post but it is a bit missing the point, you kind of over analyzed this. What is usually meant with deep bags is people who invested in yet another revolutionary innovative bullshit coin or token that was meant to change the world, but in the end it was just as useless as many of them. A simple tell is when people exaggerate the benefits of a coin or token but dismiss any legit criticism of it. An example would be Ethereum bagholders. They will dismiss any concerns that it is quite centralized, both in governance and on blockchain terms.
Part of my point is that even a bullshit coin or token etc that was just as useless as many of them can become useful simply by being useable for transacting and trading and being adopted for serious use, such as by a
Galactic Milieu/url] Civilisation or Corp as its currency, in other words in effect as its IOUs since money is basically IOUs.
The strong buy side part of it is basically the visible willingness to and capability of "redeeming" those IOUs.
One thing I like about Stellar, and the original Ripple whose name and concept got bought up to make the now high market cap XRP ripple, is that is is openly a platform for tracking IOUs so hopefully its users are better able to keep contstantly i mind that money is IOUs and that the value in an IOU lies almost entirely, maybe totally entirely except maybe to some numismatists in the likelihood of its being "honoured" by being "redeemed"... Which is what a buy-side strong enough to absorb "dumps" tries to make feasible.
-MarkM-