1/ Many of the SV / SF / VC / HF think ETH or another smart contract platform will win because “more people are building apps on it.”
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7/ Instead, they think of these as mostly purely software platforms and try to apply previous-era Web 2.0 SV paradigms and their San Fran clichés. Instead, I believe that these are moneys wrapped in software. After all, they are *cryptocurrencies*. Money first and software second
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8/ I don’t think big asset managers, university endowments, sovereign wealth funds, commercial banks, central banks or the rich HNWIs give a shit about decentralized roulette, nomadic DAOs or some blockchain tamagotchi.
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9/ For any fixed-supply (or even relatively scarce
supply) digital coin to become “Money” or “Currency”, it needs to be 1) liquid, 2) stable, 3) disincentives to spend (when the mcap is small) lessened.Show this thread -
10/ For this to happen, the coin needs to be have a multitrillion dollar size or bigger (in today’s terms). The bigger it is the more liquid it is, the more stable it is, and the less the disincentives to spend are (as less “gains” eventually left ahead). Dont wanna be Pizza Guy.
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11/ Cypherpunk, Libertarian and Crypto-Austrian money is already here. For any coins to get to multi-trillion valuations, first, we need institutions and HNWIs to invest as a Store of Value, Neo-Gold thesis.
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12/ Need to saturate SoV before it is globally, comfortably & conveniently usable as MoE with
#NoRagrets. In the short term, I think stablecoins will be used as MoE/UoA, even EM SoV. And in the medium & long-term, my money is on Bitcoin with a small side of ZEC. Don’t @ Me
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End of conversation
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