Most cryptocurrency space newcomers and “thought leaders” overestimate Smart Contract platforms and underestimate Bitcoin as the biggest blockchain of the future. People are overapplying SV / SF / VC / Startup ideas and underapplying Sound Money / Austrian economics ideas.
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3/ This philosophy is like saying Laptops are a better SoV than Gold. No, I will keep my wealth in Gold and buy these Laptops / Swiss Knives / disposable Oil commodities whenever needed.
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4/ Especially given the fact that the switch will be more and more closer to instantaneous and frictionless in the future.
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5/ Use-value in and of itself has never been an crucial characteristic of money. Silver is used in 100 industries, but Gold is used in just a few. And yet, the former is 17B and the latter 7T. Civilization imbued the latter with a monetary premium because it’s harder to inflate
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6/ I also don’t think “which coin gets someone into crypto” matters. Eventually a teenage Mongolian ETH holder will realize that this other coin is more deflationary, secure, decentralized, immutable, irreversible and censorship-resistant.
End of conversation
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Bitcoin isn't the *only* disinflationary crypto in town. Plus, if we're talking 0% with no features vs 2% inflation with a boatload of features it becomes less clear which money I'd like to hold (for example, if that feature is privacy).
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Why don’t you hold your wealth in the least inflationary/mosr secure money and frictionlessly transfer to the “feature-rich” money when needed? In terms of privacy, yes I like Zcash’s monetary policy being same as BTC; but most coins aren’t as decentralized or leaderless as BTC.
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Because there's no such thing as frictionlessly transferring money to the feature-rich one when needed.
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Why don't you hold >90% of your wealth in Sound Money and <10% in your feature-rich coin?
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First off, I'm not convinced zero inflation crypto can work well. But regardless, why wouldn't I just push for my feature-rich coin to adopt the properties of sound money? Or is it impossible to be SoV and utility/MoE? Then how would Bitcoin achieve it?
End of conversation
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What if the interesting dapps involve locking up eth over long periods of time? Would that drive eth to adopt characteristics of sound money? And how secure would an eth chain have to be to underpin those 1000s of dapps w eth locked up in them?
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