How do you think about crypto? 1) Digital money/gold 2) A "product" with unique features and functions that you need to convince billions of people to adopt
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You live in USA with low inflation, no capital controls and okayish government, so you don’t appreciate the deep value proposition of Bitcoin. Your mind is searching for some kind of a dog-walking or a card-trading app on the blockchain as the solution to push the “coin”.



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if you are a middle eastern refugee, a Russian billionaire or a Japanese central bank... do you buy BTC or ETH? Enough said.
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1) I answered the question of "who marketed gold" above. Markets are not passive reflections of underlying fundamentals; just because you build it doesn't mean people will invest. The censorship resistance and monetary economics you mentioned won't be any good if no one knows.
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1/ You’re thinking of it like a stock, or a consumer startup. But that’s an entirely wrong way to think about protocols, let alone Money. Superior Money inevitably wins, an inferior money can’t win. Silver is used in 100+ industries but Gold in none. Silver is 17B but Gold 7T...
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2/ When it comes to Money, immutability of monetary policy is orders of magnitude more important than utility.
End of conversation
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if no one explicitly marketed gold, how did it reach a critical mass of users to become an effective currency/SoV? genuinely curious. understanding these mechanics could be helpful in making an analogy to BTC.
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Through a form of monetary “natural selection”. Those who used copper or glass beads to store their wealth could easily be hyperinflated. World realized Gold is among hardest to inflate/produce/get out of the ground + durable. Thus it became SoV.
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I think that’s a good macro-level hypothesis, but you severely (in my opinion) underestimate the thousands/ millions of microeconomic decisions that have to aggregate before the “world” “realizes” anything
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the Internet and Interconnectedness of the world will make that whole evolution go 10000x faster...
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if marketing were automatic, why would google spend $1b/year on ads?
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Because Google isn’t a form of Money.
End of conversation
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