All ERC20s are worthless I think, only coins which are SoV / Money candidates make any remote sense and can continuously gain value / single biggest addressable market on earth
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Replying to @MustStopMurad @decentralistdan
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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Replying to @_CryptoChat_ @decentralistdan
hard to say how. Blockchains are all about eliminating rent seeking
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Replying to @MustStopMurad @decentralistdan
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 …1 reply 0 retweets 0 likes -
Replying to @_CryptoChat_ @decentralistdan and
he literally talks about how 99.9%+ of utility tokens are unlikely to accrue value
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Replying to @MustStopMurad @decentralistdan and
i'm referring to your use of 'rent-seeking'
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Replying to @_CryptoChat_ @decentralistdan and
if I sent you DOGE, very low fee, I eliminate the $15 bank wire rent seeking, it only costs the bank $0.000000000001 to send it
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Replying to @MustStopMurad @decentralistdan and
yep! i am familiar with the concept of disintermediation, it is partly what drew me to this space several years ago. but i am not convinced that fees will be driven down to 0 - devs/entrepreneurs etc. gotta eat
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Replying to @_CryptoChat_ @decentralistdan and
its not up to devs to decide what the prices / profit margins are. the market decides. Forkability / open source / frictionlessness here. No proprietary moats, no intellectual property. This makes extracting value very difficult for dApp makers, LET alone for utility token itself
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Replying to @MustStopMurad @decentralistdan and
disagree - forkability is not frictionless by any means also, i agree with you that 99.9% of 'utility tokens' on the market right should be worth $0. token engineering is still nascent, i am confident that designs will appear that actually lead to value accrual at token level
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dApps don’t lead to SoV. security, disinflation, reliability, immutability leads to SoV
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