Because 10x improvement over money is 7 tx/s right? If it was that easy, crypto would be our money now. I’d say both share similar magnitude challenges: poor scalability and giant moats to overcome (centralized governments and centralized enterprises).
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Yeah tech is shrinking what would take centuries into decades. It’s pretty incredible. But complacency is the enemy of progress. Still a long way to go.
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Thought experiment: Imagine a world where Ethereum was created as it is now in 2009 and bitcoin was created today
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I’ve posed a similar experiment: imagine no BTC, how would we view ETH? BTC gained a lot from being the genesis crypto, its founder myth, durability + immutability of MP over time etc. Would likely be seen as some scam fork in today’s ICO world (depending how it launched).
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forked/alt created to be deflationary/fixed cap to be a better SoV schelling point Highly recommend Paul Storzc’s article on Deflation on this: http://www.truthcoin.info/blog/deflation-the-last-word/ …
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"if Bitcoin didn’t have a fixed money supply, it would be replaced by something which did. money exists to be saved, the savers are better off on the fork which most encourages saving."
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That doesn’t mean the community would legitimize it. You can launch a 1000 fixed supply cryptos today w/ 10m supply but they’d go nowhere. Trying to replicate BTC’s success is almost impossible in today’s world wouldn’t you agree? As I said, it would depend on how it launched.
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Agreed. Being first mover + immaculate conception + anonymous founder + most decentralized + longest lasting lindy effect + network effects help a lot.
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Yah agreed! Genesis is a special and tricky thing to replicate and depends on the environment at the time. Launching today pretty much means it’s institutionally owned. And the rest (decentralization, censorship-resistance, security, etc.) must be earned over time.
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