Yeah what everyone else said, read this whole thread. Not for the CSW stuff (it's a travesty he still gets attention) but for the rest.https://twitter.com/VitalikButerin/status/981069924255739904 …
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This is why “ETH will be SoV” thesis is unlikely. Saying that ETH is a better SoV than Bitcoin is like saying Laptops are a better SoV than Gold.
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Why would you say that? Too simplistic. Technologically and perception-wise, ETH is similar enough to BTC to act as a SOV. Where they differ is only economically in that ETH is a utility token (meaning it has fundamental utility that BTC does not).
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Technically they are both utility tokens. By your logic Silver should be superior to Gold, because Silver has 100+ industrial applications, and Gold has almost none.
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Industrial applications are not exactly equivalent. What makes BTC gold and not anything else? Perception? Is gold building LN to be a high-throughput MOE? So which is it, a SOV or an MOE? No one is going to buy $5 coffee with BTC if it's deflationary and only meant for hodling.
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It’s not about payments. It’s about sound money. Westerners with 3% inflation don’t understand the value prop of Bitcoin that well, and are merely trying to build a better Paypal.
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ETH or any other crypto can be just as sound money as BTC. Sound money is simply money that has a purchasing power determined by markets, independent of governments and political parties.
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II understand what you’re saying, but in my opinion, thus far, BTC has shown itself to be significantly more ‘sound’ that ETH.
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BTC superior security, decentralization, censorship-resistance, immutability, better Lindy Effect, better devs and untouchable monetary policy is what makes it a good SoV.
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