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.”
-
Show this thread
-
Replying to @MustStopMurad @joonian
Why is it a win or lose scenario? Why can’t ETH or another app platform succeed, while BTC succeeds in its SoV/neo-gold mission? The monetary policies of app platforms are designed to function only moderately as a SoV to prevent a tragedy of the commons. BTC is better suited.
1 reply 0 retweets 4 likes -
But that doesn’t mean either / or. Both can be successful at achieving different missions. If the crypto market didn’t lump every coin/token together regardless of mission/purpose, would Bitcoiners even care about app platform coins?
2 replies 0 retweets 2 likes -
Replying to @cyber_hokie @joonian
Hey good question. It’s because I believe in the long-run there can only one big monetary cryptocurrency winner.
4 replies 1 retweet 2 likes -
Replying to @MustStopMurad @joonian
I don’t doubt that to be true, but I wonder if we are misappropriating the cryptocurrency label to app platform coins, since currency/SoV/neo-gold is less their purpose versus unit of account/oil for the engine? The old digital oil vs digital gold comparison.
2 replies 0 retweets 3 likes -
Replying to @cyber_hokie @joonian
Proof of Stake systems needs to be highly valuable to be secure. Only Store of Value cryptoassets will be highly valuable. For PoS ETH to be secure, it needs to become a Store of Value, otherwise it will not be secure. Why do you think they are even discussing a hard cap?:)
1 reply 2 retweets 6 likes -
Replying to @MustStopMurad @joonian
Highly valuable seems to be a subjective measure vs. “valuable enough to deter bad actors.” In realty we don’t know what price point makes PoS ETH secure enough. It’s worth testing, no? Also, the monetary policy under Casper *should* be more conducive to supporting ETH as a SoV.
2 replies 0 retweets 3 likes -
The SoV discussion revolves around the tragedy of the commons, where a token on top of a Ethereum becomes a better SoV than Ethereum, which creates an incentives problem. It’s interesting, but I don’t think a coin needs a fixed supply to necessary be a good SoV.
2 replies 0 retweets 0 likes -
If the inflation is reduced to low, but expected, and unchanging inflation, it can be strong enough to support use as a viable SoV. Not as strong as Bitcoin, good enough to incentivize hodling / staking.
1 reply 0 retweets 1 like
That’s fair. I still think the number one winner will take 95%+ of the SoV market. Similarly to how Gold ($8T) is currently 400x the size of Silver ($20B).pic.twitter.com/9iHYxc5Y6U
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.