Hi all,
First of all I would like to say I am not trying to attack any particular altcoin, I am just simply confuse and wonder if I am missing something. I dont understand that some new altcoin that is build on top of a centralized asset.
For exmaple , I still dont understand Skincoin. From their white paper, I understand that they are developing a cryptocurrency that represent a share of the digital skin of various game (dota 2 and csgo). But this doesn't make sense as the the ownership of those skin belongs to Valve. "skin" in game is the ultimate representation of centralized currency. How is this suppose to be decentralized? What happened when you cant cash out ur skincoin because valve doesn't allow skincoin company(or the company that trade with skincoin) to use API or trade skin anymore?.
Just some recent news:
https://www.joindota.com/en/news/55314-lootcase-gg-forced-to-shut-down-operationsIf valve dont even allow websites to trade skin or gamble with it. How can you say the skincoin you have actually represent values? Building your cryptocurrency on top of centralized asset does not make it become decentralized right? Isn't completely opposite what crypocurrency is trying to achieve?
Again, not trying to attack skincoin or anyother coin, is just from my point of view it doesnt make sense and yet lots of similar ICO are still attracting tonnes of money.. I must be missing something right?
