Plenty of crypto projects still miss the idea that cryptocurrencies and the related technology projects cannot sustain being rent-seeking. Again, @jlppfeffer: "The ability to fork protocols maximises utility for users but suppresses economic rent for token holders."
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Replying to @dksf @jlppfeffer
I think there’s a dangerous temptation for projects that are aware of traditional investors mental models to satisfy their desire for cash flows. I think perilous though because the big idea of crypto though is comp through token appreciation vs rent. As you said, can be forked
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Replying to @HHorsley @jlppfeffer
True, it might be entrepreneurs playing to rent-seeking expectations of investors even if they understand the actual non-rent seeking nature of a successful cryptocurrency. I've certainly heard this kind of thing from new teams building in the space.
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Problem is, if there are no rents to seek, those investors are actually donors. I don't think they like that very much.
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If there are no rents to seek you better be building a currency that intends to be broad enough to compete for the money use-case (head-to-head with Bitcoin). That's why these vertical-specific ICO ideas are
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Spot on. There will be <5 huge winners vying for SoV+MoE use case. 99% of CoinMarketCap will die, 1% will be well-thought utility tokens, but then again, money is by far the biggest use-case.
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