The deflation of crypto-currency (stinking cesspool!) and crypto-kitties: an update
Earlier I wrote about cryptokitties. The concept is you design a virtual ‘tamagotchi-like‘ cat and then try to sell it to
suckers customers via Eth. Looking back in on them it seems that they are somehow anti-inflationary. The selling (well asking!) price of a cryptocat has gone up by about the same amount (expressed in fiat currency) has gone down. In other words, you would have done better to convert $ to Eth to CryptoCat than to HODL.
Now, looking at our reference-crypto-kitty (swampgreen) we find that there has been some devaluation. I mean now that is a used, older cat, so that is to be expected. But the ‘fresh’ ones are now asking about the same (~$14), which is about 10x the Eth.
Colour me… underwhelmed.