Market Comments from the Peanut Gallery, from Henrik Andersson
Centralized, broken hash function, aggressive developers, highly questionable PR, rolling their own crypto. Avoid like the plague. Happy to be proven wrong.
Chris Cooper writes:
Yes, that's the FUD, as they say. It pays to investigate deeper.
Centralized — a temporary measure only until the network reaches adequate scale.
Broken hash function — supposedly on purpose, never led to any loss of coins, corrected without subsequent issue.
Aggressive developers — true…but what I care about is extremely competent developers, and they have that.
Highly questionable PR — founders don't care about PR, which means that it gets little attention.
Roll their own crypto — true, and it was good…but when they got feedback about potential issues, they changed to standard crypto. They will likely change back at some point.
You could add these negatives:
* Crappy wallet
* Protocol designed for machines, not humans
* Uncertainty in confirmation time, though it's faster than most others
All these negatives, and still the coin is worth 12 billion USD at this writing. Why?
* Zero transaction fees, enabling micropayments
* Zero miners
* It scales