This to me demonstrates a feeble understanding of the trade offs on smart contracts. Do you need to run it on a UTXO or Account based protocol? Storage demands? Pruning? Cost model? Latency/throughput? -- all features which require different protocols with varying strengths. https://twitter.com/MustStopMurad/status/1002274763656564737 …
The thread has little to do with smart contract tradeoffs, but rather, how likely is ETH to become SoV vs. BTC. Obviously there will be 3-4 smart contract platforms, each with it's own set of tradeoffs. The point is the doubt whether they can unseat BTC as defacto SoV.
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I don't see why bitcoin will not be the dominant "smart contract" platform .
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What smart contracts can you program on top of Bitcoin right now?
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The Lightning Network is a system of smart contracts.
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Which is a very basic set of smart contracts. Just look at the difference between Poon's Plasma and Lightning to see how a platform designed for smart contracts makes a difference in what you can do. Bitcoin is great at what it sets out to do. Not the best for smart contracts.
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As an investor, I am looking for what captures value. SoV TAM is orders of magnitude bigger than Smart Contracts’ TAM. ETH has EOS, DFINITY, TEZOS, Cardano, NEO, RChain, Kadena, Zilliqa and many others coming after it. BTC has almost no competition. (maybe Privacy coins)
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1/This is fair. SoV assets have a TAM that can be historically referenced, and I also understand your personal criterion for evaluating SoV in this space. Except I see a lot of these protocols you mentioned as being Layer 1 protocols on top of incredibly vast networks.
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2/This TAM value is a bit harder to conceptualize historically. If I could own a governance stake in TCP/IP, what is the size of this market and how much are these native protocol tokens that incentivize the networks worth?
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3/Also, if their worth and utility is substantial and scarce in nature, perhaps they also tap into SoV utility.
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