I have been working through an approach and mechanism to support Zcash adoption with @zcashco. What does adoption mean and how do we get there? Here’s the plan.
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1/ I like this general logic and have written on this progression extensively. ZEC is my second favorite coin after BTC, but here is my concern:
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2/ We agree that cryptocurrencies need to largely saturate SoV before evolving into an MoE. The issue, then, is can ZEC compete against BTC as a SoV? It’s a really uphill battle, doubly so if you believe that the end game for cryptocurrencies is close to winner-take-all.
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3/ ZEC is superior to BTC in 1/20 characteristics crucial for SoV, but BTC is undeniably far, far ahead in the remaining 19/20 (security, decentralization, ecosystem, liquidity, stability, successful battle scars, Lindy effect, hashpower, etc etc etc and many more)pic.twitter.com/uGJwCAF5Vg
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4/ Why do you think ZEC will be able to carve out a niche as a *separate* SoV? Let alone beat BTC? Do you believe cryptocurrencies are winner-take-most (e.g. 70/20/8/2) and #2, #3, #4 cryptocurrencies, will also be able to carve out a monetary premium?
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5/ I increasingly believe cryptocurrencies will ultimately be winner-take-all and not winner-take-most. Note that BTC privacy is also gradually improving and may eventually be sufficient for most…https://bitcoinmagazine.com/articles/bitcoin-privacycoin-tech-making-bitcoin-more-private/ …
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6/ The reason why BTC will be adopted, more than anything else, in my view, is its disinflationary nature… Why would I trust ZEC’s credibility of monetary policy more than BTC’s? For SoV purposes in particular, BTC is private enough as is.
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7/ Therefore, to carve out a monetary niche, ZEC needs to be competitive against BTC as a SoV, first and foremost. Can it be? The very existence of BTC makes your job very difficult. (no malice or snark intended - genuine views & opinions)
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