2/ Whereas, what truly matters is the coin that gets the most investment & wealth inflows from retail, institutions and HNWIs as “Neo-Gold” —> “Neo-Money”
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3/ Pure Neo-Gold component’s value accrual is 100 times bigger than all dApps combined.
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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 -
Replying to @MustStopMurad
Agree with everything here, but having trouble understanding this one. #3 would be important for SoV, but not for money, right?
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think of it this way. if you believe BTC will be 20 trillion one day. At 100b market cap, there are disincentives to spend, since there are 200x gains ahead. At 5 trillion market cap only 4x left, so more and more people start spending.
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