well said sir
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Replying to @MustStopMurad
Has been my latest thesis on the conference circuit during cocktail hour. Puts your average smart contract maximialist's head in a blender but those who do understand what money is/isn't slowly come around to it. Makes me bullish on Dash, Stellar, BTC (RSK), BCash, STORE, etc.
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Replying to @cryptow1re
Dash sucks, premined, shit privacy. ZEC/XMR far better. XLM is quite centralized, not sure if a federated system with trusted quorum slices can become a global SoV vs. purely decentralized alternatives. Also XLM foundation owns so much Storecoin is interesting. Bcash is a joke
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Replying to @MustStopMurad
Core use case for all started w/payments. Trust was acquired in the app layer. With sufficient trust, they *could* move to the smart contract layer. All have a long ways to go. Bitcoin is the only with minimum viable trust. Unsure it wants to be anything other than e-gold tho.
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Replying to @cryptow1re
Payments is a 100B industry Wealth is a 100T industry Do you catch my drift? It’s not the payments capabilities that makes these coins strong. Its the uninflatability, reliability, security, immutability. You cant have a global MoE before something is a global SoV. my humble view
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Replying to @MustStopMurad
$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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Replying to @cryptow1re
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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Replying to @MustStopMurad
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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Replying to @cryptow1re
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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Replying to @MustStopMurad
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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