Will content creators ultimately prefer bitcoin over BAT?
Somewhat in spite of myself, I was struck by JP Buntinx’s post over at The Merkle Hash yesterday covering the latest plunge in Basic Attention Token. It had plunged about 12 percent around the time his post went up, although it’s recovered a little since.
I’m frankly not a big fan of the incessant technical analysis of markets that’s a hallmark of most crypto blogging these days. But after getting a bunch of that sort of jazz out of the way to start his post, JP raised a fundamental point about BAT that piqued my curiosity:
There are also some concerns as to whether or not the rewards being paid out in BAT is something that will be beneficial. As Yune_Tubi explains, getting paid in BTC would be far more favorable. As such, it seems likely a lot of BAT earners will effectively cash out their tokens for Bitcoin on a regular basis. That situation may come to change in the future, but when it is raised as a potential concern on day one, things might not necessarily look all that great.
Hmmm. At first blush, I honestly don’t have a strong opinion either way on this bitcoin-versus-BAT question. (Full disclosure: I own small amounts of both bitcoin and BAT right now.) But I think it’s a great issue to raise, especially while we’re still in the early days of tokenizing the market for digital content. Definitely something to keep an eye on going forward.
