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 …
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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Are you concerned with Lightning underperforming?
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Predicted it. It has near zero use case on a pure SoV network like Bitcoin. Could work as a stripe-like layer on the world's computer, burning man on a blockchain, and other protocol-level currencies. Unsure the core dev team has the incentives to make it so.
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Lightning isn’t for now, it’s for after BTC mcap is $10 Trillion
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