Better Than Free: The New Business Model for Apps (and possibly everything else)
David Sneider

If the tokens are managed and have some means of fiat buyers to the economy then tokens are just another form of money.

If not it they are “Monopoly money”.

The only difference between the two is the value the holder places in the currency they hold — look at examples of hyper-inflation to see what happens when this perceived value is lost.

The potential for good in cryto-currencies is the trust available and defined via the block chain, assuming the technical problems of individual node weakness leading to very limited numbers of transactions can be overcome.

My concern for the hype over tokens and ICOs is that the value (blockchain) is lost in the hype (ICO) and real potential is lost or at least delayed.

The general public will be more interested in headlines about the ICO bubble bursting with all crypto-currencies caught in a resulting downward spiral and much trust lost in block chain — without many seeing the irony of this.

Crypto-currencies, tokens … call them what you will, are all simply another abstraction for value. Depending on your point of view they are a better or worse abstraction (not controlled by central government), but being a different abstraction of value does not make something “Better than Free”, it is just semantics — a different way of saying create value (in the example above give some attention), be rewarded for that value (tokens), spend that value (enter the lottery).

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