11/ The flip side of the above ascendent narratives was definitely the relinquishing of place of the Fat Protocols thesis that animated crypto for the previous couple years. Whether this reduced status sticks is yet to be seen.https://twitter.com/MartyBent/status/1028974908825628673 …
-
Show this thread
-
12/ What about narratives that are floating around but not really a big thing yet? I put these together in a “Watchlist”
1 reply 0 retweets 1 likeShow this thread -
Nathaniel Whittemore Retweeted Chris Burniske
13/ I’m really interested in the "Usage Bull” narrative which thinks that it takes some meaningful usage from a breakout dapp (or series?) to get the markets excited again.
@cburniske’s thread here explores the gap between usage value/speculative valuehttps://twitter.com/cburniske/status/1028731261186125830 …Nathaniel Whittemore added,
1 reply 1 retweet 2 likesShow this thread -
Nathaniel Whittemore Retweeted Kyle Samani
14/ What if it’s not fat protocols but Fat Apps that can capture value? I’m watching to see if this fat app idea starts to provide a counter narrative for the strict crypto-is-only-good-as-money narrative. Start with this
@KyleSamani /@multicoincap piece:https://twitter.com/KyleSamani/status/1027577570949296134 …Nathaniel Whittemore added,
2 replies 0 retweets 4 likesShow this thread -
Replying to @nlw @multicoincap
Fat money will capture the overwhelming majority of value. Apps cannot compete Apple just passed $1T. The winning global digital reserve asset will be ~$50T
1 reply 1 retweet 13 likes -
~$100T-200T If leaky inflationary fiat is 90T, imagine how precious a deflationary, global money will be.
1 reply 0 retweets 9 likes -
Replying to @MustStopMurad @KyleSamani and
inflationary money = “hot potatoes” current asset managers generally minimize cash <10% holdings marginal propensity to hold a deflationary money will be way higher we never had an asset, let alone a money, as scarce / hard as Bitcoin before
3 replies 4 retweets 25 likes -
Replying to @MustStopMurad @KyleSamani and
1 Not necessarily true. Entities that collect the seigniorage like holding inflationary money because it isn’t inflationary to them. Central bank forex reserves + global sovereign debt = $55T.
1 reply 0 retweets 1 like -
Replying to @alpackaP @MustStopMurad and
2 If non-fiat money takes off, we may see the proportion of “money hodlers” shift from governments to the new groups that receive seigniorage benefits - the general saver (for deflationary money), miners and stakers, etc. Not clear yet that the total demand will change though
2 replies 0 retweets 1 like -
Replying to @alpackaP @MustStopMurad and
You can think of seigniorage as one of the rents that crypto disintermediates. Effectively consumer surplus
1 reply 0 retweets 0 likes
in the case of central banking / money production, Bitcoin eliminates seigniorage entirely, not redirects it.
-
-
Replying to @MustStopMurad @KyleSamani and
It certainly doesn’t. What do you think miners get?
1 reply 0 retweets 0 likes -
Replying to @alpackaP @KyleSamani and
Only up to a point, for distribution purposes. Seigniorage is essentially non-existent post-2050.
0 replies 0 retweets 0 likes
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.