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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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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Are you basing this opinion on actual conversations with such investors?
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yes. very actively and extensively. I am also myself one of those very people.
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Bad examples. They might care about self-sovereign financial instruments like lending/borrowing or digital collectibles. We have various algos and observable evidence that social networks increase in value the more they are used. Why would this be any dif?
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Nah these billionaires only care about fixed-supply / uncensorability / privacy, if anything. They don't care about your digital cats or your other goofy stuff. Moneys != a social network websites
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Citation needed. It’s not about digital cats it’s about the increased usage and moneyness that such use cases bring. BTC will need intense proselytizing to achieve the same level of belief as simple usage brings. Not impossible but significantly harder.
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What panek wrote; most of my peers in family office land who’ve been investing in traditional early stage direct venture diligence LTV, retention, churn and other network kpi’s regularly; its part of their rigor. Milestones on user/network growth, CAC, etc all required
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Evaluating potential money systems is not the same as evaluating a SaaS startup.
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^what he said. These are startup metrics. Half of these don't even apply to emerging money-forms. In my view, Seed Investing is less applicable and Monetary Economics / Monetary History is more applicable here.
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This is where you contradict your first 1) point. Decentralised currency also doesn’t have any value when someone with a trillion dollars could push a new idea “fed coin” into limelight. Why the hell should it be bitcoin? What has value is what has value
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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No it's way different than this. Your perspective is still wrong. You are looking for sources of value for old institutions, instead Blockchain can be used to build new institutions. Think about that.
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@naval It's seems to me that you are trapped in the conception that crypto is just a tool to deliver cost optimization to the institutions mentioned above. But it's more nuanced than that
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