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 …
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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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But they, of course, are not scarce as we know. It is relatively easy to create a new blockchain with more TPS, more features and "free" transactions. So, the blockchain aims to be SoV, the token will be valued at the marginal cost to provide the service
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Bitcoin is a store of value. Everything else is ALSO a store of value.
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absolutely not, in the long run there can only be a handful. Gold is 400x bigger than Silver, for a reason.
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So your argument is that Bitcoins very lack of utility and uselessness as a circulating currency makes it a superior SOV?
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I counter with the argument that bitcoin is unsustainable. If it gets to gold like levels of market cap the energy consumption will be politically a huge issue.
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I think Bitcoin could consume 51% of the world’s electricity.
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Does Zcash sound familiar?
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Big fan.
End of conversation
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