Plus, once minimum viable trust (all money is trust) is reached for protocol currencies, smart contracting infrastructure can then be spun up. Smart contracts on top of sound money > Smart contracts on top of non-secure, non-scalable, non-decentralized, no Governance currencieshttps://twitter.com/MustStopMurad/status/1020043101082177538 …
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$0.02: A pure SoV currency will not double as a MoE. Pure SoV is a use case (an important one). MoE is also a use case and requires high degrees of SoV to have properties of sound, trusted, secure, global currency. We're not there yet IMO but there is a path.
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I think this is the biggest mistake I hear people make. Many think SoV and MoE will be separate. However, money is all three SoV MoE UoA, at the same time, just in different phases. You literally cannot have MoE without SoV because you want to exchange something that is valuable.
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Agree but a pure SoV cannot be a MoE as there is no supply remaining for payments. Yes, SoV needs to exist first.
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SoV doesn’t mean the money doesn’t move. It just means it’s fully monetized and valuable. Gold was both a SoV and an MoE for 5000 years
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Until better technology and economics came along
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The point is, there is nothing at all stopping BTC being the world’s main MoE. In fact that’s the likely outcome. If you see other people accepting something as a Store of Value, you will accept it as a Medium of Exchange.
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Payments is just a pipeline. We already have dozens of payment options. Very saturated space. What matters is convincing the world to ascribe value to a scarce digital good. Savings mechanism, long termnwealth storage. That’s the big pie
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We're beginning to see it with wealth locked up in staking contracts to process the future of programmable, censorship resistant payments (still very early). $0.02: The size of these contracts -- in truly decentralized systems -- will be 100x what it costs to mine a BTC today.
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Then again, staking may never be seen as a form of SoV.
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