I'm doubtful and will not invest money there until I see someone who can make a solid case that it is indeed sustainable over the long term. I spent about an hour reading through Reddit/FB/Steemit content regarding how legit BCC was, and most say the same thing - might work not but long term it's not remotely sustainable unless more and more money is continually pumping into BCC token, making the whole thing one huge ponzi scheme.
I may be wrong, but I'll have to be proven wrong until I change my mind about that.
Either way I hope for you that I'm wrong and that you make a bunch of money staking your crypto there for interest.
Yea I totally understand. I won't want to invest in something unsustainable.
I'm thinking out loud but think about the paper money we use. It's a "claim on wealth" which you don't have. The only wealth people have is the "goods" they have in their possessions. Now think about the BCC. BCC is a receipt you're given in exchange for your BTC. The difference between paper money and BCC is that BCC is capped at 28M coins while paper money is unlimited!
Exactly, the same algorithm should be easily applied to other crypto-currencies.
That's precisely what it came to my mind the first time came across Bitconnect. I think it basically steal the value of paper money and adds it to Bitcoin and other crypos.
My main concern is more of this (https://steemit.com/cryptocurrency/@ka82/can-anyone-share-his-her-thoughts-on-this) than what you raised above. But I think the whole purpose of cryptos is to engage everyone rather than make things exclusive for only a privileged few.