17/ Your favorite dichotomy of “SoV thesis” vs. “Utility thesis” is misguided. Why? Because having an uninflatable, uncensorable, hypersecure SoV *IS* a great form of utility in and of itself, arguably some of the biggest utility.
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when did zec become sound money? their hash rate is terrible. why not ETC?
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Sound Money is more about monetary policy. 21M just like BTC.
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etc is capped too
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To me, mathematically guaranteed privacy is more important than dApps.
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i don't think there's a mathematical proof that the trusted setup backdoor has not been exploited, and low hash rate means double doing vulnerability
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Hashrate going up fast now that ASICs are involved. Trusted Setup dangers are overexaggerated. They have 30+ participants now, and as long as 1 is honest there is no problem. They all have to collude for there to be a problem, which is absurd.
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Finally, if/when they move to STARKS, there is no trusted setup involved.
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sure, in the future zec may be good money, but to recommend it at this stage as sound money over etc makes no sense to me
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So obviously you rate Zcash highly. Can you enlighten us further on that? Ofc the low coin supply and privacy appeals to you. What else?
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premine/founders reward != sound money
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Kings had all the Gold yet it was still sound. Soundness is about ininflatability not distribution. And 10% of total supply which will eventually be sold for operations for 3-5% to remain among 30 people is fine
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They missed that boat long ago so now trying to convince themselves of a better SoV
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Interesting because for me and I suspect many others bitcoin was the gateway drug to other cryptos. Be interesting to see how this plays out. I agree bitcoin adoption won’t come from the masses whilst it’s only trying to be an sov. Most people don’t invest in gold
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I expect it to play out differently. I expect one crypto will become widely adopted as an moe. Initially there won’t be large amounts of holding the currency but used as fiat -> crypto-> fiat. Over time the price will become more stable leading to more holding
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@threadreaderapp unroll please -
Hello the unroll you asked for: https://threadreaderapp.com/thread/1009941601093865472.html … Share this if you think it's interesting.
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