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Bring crypto back to currency

The Problem Crypto becoming a commodity is the single stupidest thing to gain widespread popularity. It’s the paragon of post-neoclassical/postmodern economics. If Adam Smith saw NFTs he would shoot himself. What I mean is that value is deconstructed to peoples own assignments to objects, abandoning the notion of any essential value in things. This is closely related to the abandonment of traditional metrics of valuations in the tech sector. The original idea was very good–a radical and existential threat to the existing central system of banking.

Algorithmically, it is possible to control how much it costs to mine crypto at any point by modulating network fees (PoS)/block difficultly (PoW). Inflation is traditionally measured with producer price index (PPI) which is essentially the average of cost of stable (constant supply/demand) goods. There could be a decentralized marketplace (built on top of the coins blockchain) with sellers that become trusted and vetted by buyers through some sort of rating system.

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