"Fat protocols" isn't an investment thesis. It's a utopian vision articulated to help justify a venture capital driven greater fool theory. The better discussion is whether it will be "winner take most" (fat monies) or "winner take all" (BTC maximalism).
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Replying to @arjunblj
Even a winner take most equilibrium is increasingly unlikely in my mind, at one speed or another it converges to *one* in my humble view. It’s risky to be holding the non-dominant one in the 70/20/6/4 scenario and so it converges further and further.pic.twitter.com/kGh87m8GY5
8:29 AM - 13 Aug 2018
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