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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Replying to @cryptow1re @MustStopMurad and
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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Replying to @PMillerCoin @MustStopMurad and
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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I think it will be the most secure and reliably uninflatable ones :)
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A deflationary cryptocurrency has a low probability of being used for payments -- at any meaningful scale https://hackernoon.com/the-impact-of-bitcoins-deflationary-token-economics-on-its-viability-as-a-global-digital-currency-878f3042fb08 … ...A great store of wealth though!
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how do you explain gold? By 1880, it was was mildly deflationary and yet it was a SoV, an MoE, a UoA, a global monetary standard and stable.
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Q: What countries in 1880? 1/ Gold circulated as a currency in many countries before the introduction of paper money. 2/ Once paper money was introduced, currencies maintained an explicit peg to gold (the paper being exchangeable for gold on demand) 3/ Then, Nixon happened.
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Any major European country during La Belle Epoque. Can you explain how gold, despite being mildly deflationary, functioned as a SoV, MoE, UoA and was stable? :)
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