1/ I’m noticing a resurgence in the crypto as “money” narrative, over any other usecase. This seems to be related to what part of the cycle we are in.
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2/ During bull, everyone is stoked about new applications and money is boring. Bitcoin was “just” v1 and everyone is looking for the next shiny new object. “Bitcoin is dead”
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3/ During bear (aka now) folks get scared and revert to safety- both in practice and ideologically. For better or worse Bitcoin has proven to be the most enduring coin — so it seems like a good bet again. “Ethereum is dead”
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4/ When the cycle reverts and the pendulum swings back, attention will go toward the shiny new thing again. My hunch is that we’ll see that sometime in the next 12 months.
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5/ Personally my view is that both will be important; money is a huge market and nailing that is massive, but new tech will also continue to flourish and start affecting all realms of our lives in the same way the internet has. I allocate accordingly.
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Replying to @AriannaSimpson
What I wonder about is _when_ we’ll start seeing widespread use of crypto as money. Nobody uses it for money now, due to the expectation of appreciation. How long will it take for that expectation to morph into an expectation of stable value?
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you're using a narrow, transactional definition of money. BTC is already used to store value, which is one of the functions of money
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Replying to @MustStopMurad @AriannaSimpson
Yep, I know. I’m taking about using it to actually buy things.
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