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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Replying to @MustStopMurad @zcashco
I don't agree. BTC as a hedge for hyperinflated local currencies requires anonymity that BTC doesn't currently provide. As the does the need to move and store large amounts of money.
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Let's imagine a situation. I am a Russian billionaire industrialist in Siberia. I have decided to allocate a certain chunk of cash to a portfolio of crypto. Current Y2050 mcap size of ZEC vs. BTC is 2%. Why should I allocate more than 2% of the amount I allocate to BTC, to ZEC?
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^this is necessary for ZEC to outperform BTC going forward i.e. this is necessary for ZEC to ever be significantly more than 1/50th the market cap size of BTC The purpose of holding money, which is supposed to be the most liquid good, is to reduce anxiety about uncertain future.
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