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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Replying to @KyleSamani
You were spot on in
@mrjasonchoi's podcast – coins that consider themselves a product in need of bd/sales/evangelism/community are the ones that succeed. Lack of end-user focus (and general product thinking) is a nontrivial damper on current growth rate.2 replies 0 retweets 3 likes -
Who marketed or evangelized gold? Sound Money markets itself, as people observe which vehicles allow them to not lose their wealth over time.
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Disagree. Banks, fund managers, media all marketed gold as a go to asset in the 1970s during periods of high inflation. Then in early 2000s institutions like the World Gold Council created SPDR and other ETFs to make gold more accessible and marketable.
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Replying to @mrjasonchoi @MustStopMurad and
Point being 1) there is no evergreen asset and "people" are generally bad judges of what assets outperform the market so your assumption is a bit simplistic 2) significant efforts to popularize and make accessible (i.e. market) gold did occur
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No one explicitly marketed gold when it first emerged as money. That’s the relevant comparison. You didn’t catch where I’m going with this. Bitcoin has the most immutable monetary policy. That’s all that matters.
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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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There's a lot of goalpost shifting in this debate, let me summarize: 1) The notion that no one "marketed" gold is wrong. Every financial media outlet will say otherwise. 2) I agree that "better" money wins...eventually. The key is to educate public on why/how it's so
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1) dude you’re talking about the 1970s onwards. How is that relevant to this debate? We are comparing emergence of BTC vs. early emergence of Gold... think Ancient Egypt & Babylon. 2) sure
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Relevant in the context of Bitcoin's continual relevance as a SoV. Sure, ancient Egyptians mandated gold:silver ratio and assigned societal value to gold, and early cryptoanarchists recognized btc's value and adopted. My point is mktg has and will assist maturity from that pt on.
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Marketing of cryptoassets as Money or as dApp platform? The Moneyness markets itself and takes years of pure time / Lindy effect to establish itself. Doesn’t matter which coin or dApp gets people into crypto. Eventually they compare security/decentralization/inflation and switch.
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