Somewhat in spite of myself, I was struck this morning by JP Buntinx's post over at The Merkle Hash covering the latest plunge in Basic Attention Token. It's down 12 percent today as I write this, following this week's rollout of new features from the browser startup Brave allowing users to collect rewards in BAT for viewing web ads.
I'm frankly not a big fan of the incessant technical analysis of markets that's a hallmark of most crypto blogging these days. But after getting a bunch of that sort of jazz out of the way to start his post, JP raised a fundamental point about BAT that definitely piqued my curiosity:
There are also some concerns as to whether or not the rewards being paid out in BAT is something that will be beneficial. As Yune_Tubi explains, getting paid in BTC would be far more favorable. As such, it seems likely a lot of BAT earners will effectively cash out their tokens for Bitcoin on a regular basis. That situation may come to change in the future, but when it is raised as a potential concern on day one, things might not necessarily look all that great.
I hear someone’s implementing BAT concepts into bitcoin payouts. I’m a ETH fan, but I’d love to get BTC payouts of ~$300 per year in bitcoin just for internet browsing. #BAT #BTC— yune_tubi (@yune_tubi) April 26, 2019
I honestly would prefer BTC payouts.
Hmmm. At first blush, I honestly don't have a strong opinion either way on this bitcoin-versus-BAT question. (Full disclosure: I own small amounts of both bitcoin and BAT right now.) But I think it's a great issue to raise, especially while we're still in the early days of tokenizing the market for digital content. Will definitely keep an eye on it going forward.