1/ For those crypto-kiddies (ahem!) asking about analogies to the dot-com bubble, it's interesting to note that we finally, recently reached the inflation adjusted Nasdaq closing high from March 10, 2000. (peak of the dotcom-fueled Nasdaq)
-
Show this thread
-
2/ "On January 17, 2018, the Nasdaq finally achieved a new inflation-adjusted closing high from March 10, 2000." https://en.wikipedia.org/wiki/Nasdaq_Composite …
1 reply 0 retweets 0 likesShow this thread -
3/ The difference between then and now: In the dotcom days no one knew what was going to be valuable so market value was spread across hundreds (or thousands?) of "credible contenders". Today we have sorted it. That value primarily lives inside a handful of companies (FAANG+).
1 reply 0 retweets 1 likeShow this thread -
4/ So we weren't collectively wrong about the scale and impact of companies that could be built on the Internet. It just took a lot of work, wrestling, and pain to sort out the handful of companies that mattered in delivering this value.
1 reply 0 retweets 1 likeShow this thread -
5/ "History never repeats, but it often rhymes": The overall crypto marketcap is still modest compared to the scale of change this technology will have on the world, but the resulting marketcap is likely to accrue to somewhere between 1-5 coins/tokens
1 reply 0 retweets 2 likesShow this thread -
6/ This is why the money use-case is so important. It could be just 1 or maybe something like up to 5 different flavors of money/value. If you're building a coin/token you should have a credible path to competing to be one of the FAANGs of the cryptocurrency ecosystem
1 reply 0 retweets 3 likesShow this thread -
7/ The winners are unlikely to be a decentralized search engine, a decentralized social network, decentralized ecommerce, etc. They are more likely to look like something that is only natively possible with this technology.
1 reply 0 retweets 9 likesShow this thread -
8/ "Censorship-resistant store of value" seems like a very credible contender. What else competes for a censorship resistant money use-case?
4 replies 0 retweets 7 likesShow this thread
Bingo. Blockchain is overhyped. But Money use case is underhyped. Digital Gold / Stablecoin / Privacy Coins will have huge winners, in my opinion.
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.