Objectively Top 5 coins BTC ZEC ETH DCR XMR Don’t @ me under any circumstances of your entire existence
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agreed. hard to argue that point. but if ETH belongs there and succeeds as a dappchain of sorts, some erc20s will prolly have value in that ecosystem
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i think holding top 3-4 money-tokens is a better risk-reward than holding this weird governance / utility tokens with extremely uncertain (i have strong doubts) value accrual mechanisms / potential, in my view
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curious as to your investment horizon?
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5 years
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without intending to be facetious... why 5 years? why not 2? 6? 10? 100?
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5-7 years. It will take time for a flight to quality and a convergence towards truly top 1-5 coins to take place
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agreed. however, for something like BTC (or any SoV/money asset), i think that if it still has any value in 5 years it will be worth holding for the following 5+ years - isn't that kind of part of the definition of SoV?
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Yes. BTC im holding till death. Will pass it to my great-grandkids
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i certainly think there is value to this thesis but SoV/money being biggest addressable market on earth doesn't preclude alternative crypto assets gaining share of other important markets
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hard to say how. Blockchains are all about eliminating rent seeking
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not really.
@nic__carter and@tonysheng have written well on this topic: https://www.tonysheng.com/fees-vs-rents https://www.tokendaily.co/blog/on-labels-a-critical-look-at-blockchain-discourse … -
he literally talks about how 99.9%+ of utility tokens are unlikely to accrue value
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i'm referring to your use of 'rent-seeking'
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we can build an Uber-like dApp and take 1% cut instead of 25% cut, it will really push margins downwards, newfound (unextracted) value will go to riders and drivers instead of Kalanick. do u catch my drift
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MM: Money is the largest opportunity in crypto, but to dismiss all other non-money crypto projects as ‘worthless’ (as in worth zero) is hyperbolic and grossly inaccurate.
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projects are fantastic. but many of their tokens are shit at value accrual. e.g. 0x amazing product, shit token im always talking from investor view
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Some of the largest and most profitable technology companies in the world - Google and Facebook - did not have clear value capture models in their early years.
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protocols aren’t companies tokens aren’t equity all unpegged tokens without explicit rent / cashflows are money-like for all intents and purposes and blockchains are all about rent elimination
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Very fair points. It definitely remains to be seen if token economics can be changed mid-flight.
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“Interesting” take that ETH is a top project but you think all ERC20 are worthless.
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but everything else, couldn’t agree more
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