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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Do governments torture you in order to force you to pay taxes? When there is a choice between revealing your private key or going to jail, most sane people will choose the former.pic.twitter.com/5fdDrb12P6
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With crypto you can pretend you don’t have it (Zcash z-addr key in your head) or give the government private key of a wallet which only has a fraction of your wealth
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1. Governments know about us more than we ourselves. 2. Zcash is neither unstoppable/autonomous/permissionless and not even a bearer asset. 3. True unstoppable/autonomous/permissionless/bearer token should be able to survive nuclear winter, not only the governments.pic.twitter.com/vOwnQHlL7K
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why do you think Zcash is not a bearer asset?
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b/c you never own
$ZEC, you only control the private key with which gives you a permission to write into Zcash database. Once Zcash database is destroyed - you own nothing. Gold and even Eurobonds are bearer assets, most cryptos today are not.pic.twitter.com/aQ4g7sWvwl3 replies 0 retweets 5 likes
do you believe this problem can ever be solved in the realms of cyberspace?
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