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RE: Operation Vs Transaction, the Blocktivity big debate.

in #blocktivity6 years ago

That said I would like to add a few thoughts. So yes different transactions have different values. Liking or up voting a social article on Steemit has relatively little value. Buying something online or paying a contractor does have a big value. We can build a block chain that counts computational cycles, but that might not be of "real" value. In evaluating these chains, it is useful to look at a number of factors. Many chains, including BTC, have a huge amount or "wash trading" (coins going back and forth between two account to make it look busy). Counting the number of unique address, addresses with funds or address active in the last 30 days also provide insight. Even Facebook and Twitter have huge problems with large numbers of bot created accounts so it is not surprising that blockchains do. Generally, it is my understanding that 80% of all reported crypto trading volume activity -on all exchanges- is fake. Some exchanges are worse than others. Even BitShares suffers some from this, of the 1 million plus accounts, only 50,000 ish have a BTS balance (ie money in them). Many of the transactions are bot generated. I was looking the other day and CryptoBridge has a bot that changes prices via blockchained orders, just to make the website appear blinky. (Other exchanges do this as well, but be aware those orders appearing and going away are there to manipulate you- I mean make the site look busy.)

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