What’s the TLDR on why you think so?
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Replying to @RyanSAdams @MustStopMurad
Public key cryptography assumes keys are NOT durable.
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Replying to @AFDudley0 @RyanSAdams
This issue will likely be solved. This isn’t an economic / monetary argument at all... Cryptoassets have all the properties requires of a potential SoV /// Money
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Replying to @MustStopMurad @RyanSAdams
I strongly suspect this problem will be solved by adding custodians, I've thought about it very hard off and on over the last 2-3 years and that's the best I could come up with, the cryptography cannot change.
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I don't want to get into the weeds about what SoV means, cryptoassets are better bank ledgers, they are not better gold. Cryptographic protocols are less durable than paper. Do you remember RC4?
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Replying to @AFDudley0 @RyanSAdams
Do you think we won’t have cryptoassets which reach tens of trillions (in 2018 dollars) in market cap?
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1) Governments can seize gold, bitcoin is unseizable. 2) How do you send gold from Nebraska to Siberia 3) Bitcoin supply growth / stock-to-flow ratio will be lower than gold —> better Store of Value
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Replying to @MustStopMurad @RyanSAdams
1) https://en.wikipedia.org/wiki/Rubber-hose_cryptanalysis … BGP spoofing, weak RNG, etc etc. 2) truck, rail, boat, rail, truck. 3) Significantly easier to steal, worse SoV. (Again, this is quite nuanced and I'm not really digging into it.)
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Replying to @AFDudley0 @RyanSAdams
Gold is easier to take than Bitcoin IMHO The US Government did it in the 20th century SWAT comes and takes it are you really gonna torture 1 billion people? doubt it Rail and Boat takes 1 week Bitcoin nebraska to siberia takes <1 hour
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Replying to @MustStopMurad @RyanSAdams
Have you ever been robbed? Have you ever robbed someone? https://github.com/ryancdotorg/brainflayer … is easier than picking up a bar of gold. But we are well in the weeds, I don't think you actually disagree with my point.
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I believe security of existing cryptoasset systems or even their spiritual successors will gradually improve, there are way way too many other newfound superior qualities that cryptoassets offer for security *not* to improve.
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