4/ Not to mention the fact that due to the openness / forkability / transparency of it all, most dApps won’t accrue as much value as their closed-source existing deeper rent-seeking counterparts.
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5/ I don’t see how building even several successful dApps (let’s entertain this idea) on top of a money-candidate makes it all that much better as a money-candidate.
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6/ Problem with many of these SV VCs and crypto “thought-leaders” is they have zero understanding of Monetary Economics especially in the context of borderless free markets, free of state monopolies, legal tenders, state decrees, coercion. This is what fiat has done to society.
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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.3 replies 5 retweets 36 likesShow 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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(1) Do you think a Central Bank would be interested in buying a governed system like Decred versus an apolitical / hard-to-change one like Bitcoin? (2) I believe in the very long run there will only be 1 global money, winner take all. Do you think DCR can beat BTC? Why?
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