Cryptocurrencies
are
not
software
platforms
https://twitter.com/garrytan/status/1022449295927037957 …
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Holding (the longer the better) is what makes currency accrue value. Spending doesn't make it accrue value, if anything, too much spending hurts value accrual.
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ETH will be held. POS absolutely assures this. But it will also be spent.
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will more wealth opt to hold BTC or ETH? I'd argue BTC has a greater track record of perceived safety, trust and immutability, and a more robust monetary policy
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It won't be zero sum, Murad. Wealth will be stored in *many* PoS systems in addition to a few PoW systems (BTC, DCR, ZEC, etc) Whether the market recognizes long-term staking in PoS system as a SoV is tbd.
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That doesn't really make sense though. There's an infinite number of altcoins to spread liquidity over. We've already cycled through thousands. Do you expect people to keep moving value and liquidity from one shitcoin to the next? That is entirely uneconomical and insecure.
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There are a thousand+ prematurely built altcoins (app coins) but only a few PoS systems (blockchains) to be staked.
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I’m trying to figure out if it will be Winner-Take-All or Winner-Take-Most. But it will be at least Winner-Take-Most I like to say that when all is said and done, we will have 1-4 digital moneys
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I *think* the winning global, programmable, p2p currencies will be those run on the most number of computers throughout the world where the maginal cost to reach consensus on a transaction will be 1000x of today.
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So which is it? You’re contradicting yourself even though I agree with you. If BTC is deflationary digital gold that’s increasing in value few will be inclined to spend it. Only the very early adopters with lots of BTC will spend it but that doesn’t a thriving MOE economy make.
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It’s fair that
in value
spendability of ETH but some inflation + greater utility/network connections/network effects greases the wheels.
Granted these are all assumptions. It’s possible that LN takes off and more connections form in BTC but that seems less likely. -
People will spend BTC after $10T and if other people demand to get paid in BTC for their goods, services and labor. As BTC market cap increases the disincentives to spend are gradually decreased because the % gains left ahead also decreases, as there's only so much wealth in wrld
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Yeah I know the thesis just pointing out one reason that hypothesis might be flawed. SOV first attracts white collar investors. SOV+MOE attracts the blue collar general public. I know which I’d rather attract to gain adoption as a money.
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I dont know if I would call ETH (if thats your implication) a blue collar magnet. Not to say BTC is either but just saying. Also, is it even a fair statement to say that ETH is a SOV/MOE? My view is that neither are real MOE at this point but BTC has better SOV characteristics.
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Yeah it’s a very loose analogy and doesn’t really apply to ETH or the present state of things (we’re all mostly techie-leaning early adopters at this point in time).
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I think you really wanna attract the rich
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Yah but what if you attract both? These are really loose analogies anyway and obviously from an investment perspective you don’t really care if SOV happens first or simultaneously lol. Thinking of it purely from an economic future perspective.
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