The problem is how you define "good economic governance". For instance a controlled amount of inflation is generally considered to be good for a currency, as it incentivizes investing your money instead of hoarding it non-productively.
But if there's one thing that most cryptocurrency investors usually don't want, it's inflation. Actually, the more deflation the better.
And that's the catch really, because there's nothing forcing you to use a cryptocurrency like you have to use a government-issued currency, the cryptocurrency has to reward early adopters if it wants to become popular. This in turn makes cryptocurrencies, IMO, have patently bad economic governance, since the deflationary spiral makes them unusable for anything beyond pyramid schemes.
>Also, programmable money is inherently more valuable because of new use cases it enables, like smart contracts
Meh, smart contracts are not so smart, and not so contractual. It's just a very inefficient scripting mechanism that doesn't really buy you all that much. Suffices to see all the modern cryptocurrency "dapp" that run on centralized, trustful chains just because they're unusably expensive to run on true decentralized blockchains.
See all the stuff running on the BNB chain that's 1/ not decentralized and 2/ just a bunch of pyramid/ponzi schemes with no practical use beyond speculation.
But if there's one thing that most cryptocurrency investors usually don't want, it's inflation. Actually, the more deflation the better.
And that's the catch really, because there's nothing forcing you to use a cryptocurrency like you have to use a government-issued currency, the cryptocurrency has to reward early adopters if it wants to become popular. This in turn makes cryptocurrencies, IMO, have patently bad economic governance, since the deflationary spiral makes them unusable for anything beyond pyramid schemes.
>Also, programmable money is inherently more valuable because of new use cases it enables, like smart contracts
Meh, smart contracts are not so smart, and not so contractual. It's just a very inefficient scripting mechanism that doesn't really buy you all that much. Suffices to see all the modern cryptocurrency "dapp" that run on centralized, trustful chains just because they're unusably expensive to run on true decentralized blockchains.
See all the stuff running on the BNB chain that's 1/ not decentralized and 2/ just a bunch of pyramid/ponzi schemes with no practical use beyond speculation.