The recent bear cases on ETH are the new "blockchain not Bitcoin". Financial incentives are at the core of programmable money behaving as it was programmed. Don't see a design that can secure high $$$ throughput, is decentralized, and has a low market cap at the same time.
-
-
Agreed, not claiming ETH will ever be > BTC. Do you think we'll have permissionless programmable money 15 years from now? (not necessarily Ethereum) Do you think it'll be possible to have a secure consensus algorithm for it without mkt cap proportional to $$$ throughput?
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Murad, bitcoin as a SoV implies a non physical commodity - ie 'digital gold'. Like gold, bitcoin has readily available inventory; but without transportation costs. As such - like gold - it's exists in contango. Which means as adoption optimises, it's not a store of value at all
-
I looked up 'contango', but it's not clear to me how it leads to the conclusion of "as adoption optimises, it's not a store of value at all". Mind expanding, please?
-
Gold - unlike other commodities - usually exists in contango, rather than backwardation [considered the natural state of commodities]- but because of readily available inventory; demand for gold and bitcoin can be sated immediately; disambiguating 'futures' pricing.
-
I'll elaborate further - Bitcoin has special qualities as money, which limit its transaction capacity in the way that the Visa network operates. But for high level settlement, it's nigh on Ideal. If this were to optimise, then it's use a SoV is mitigated.
-
In this regard, I can understand
@derose saying Bitcoin isn't 'digital gold' - there are rarer metals (with costs of carry) better suited to a 'scarcity' SoV narrative. But I can also understand@SoakerPatoshi saying BTC has gold like qualities. Both views lead to BTC as fiat. -
Once Bitcoin is fiat - it's a paranational movement. Which, is what it's always been, but now we can get a bit more reason slipped into the space, and hopefully ditch the anti-social fundamentalists.
-
This tweet is getting slipped into to my new blog
-
Sweet! Keep these up, they're wonderful.
End of conversation
New conversation -
-
-
Trusting ethereum to store anything of value is a comically bad idea. This latest pivot reeks of desperation by all parties involved.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
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.