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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Replying to @MustStopMurad
They are two opposing views of the world. View 1 is to build something that retains value very well and expect people to use it. View 2 is to build something that people use and expect it to retain value. Top down vs bottom up.
3 replies 3 retweets 25 likes -
Replying to @TusharJain_
1/ I think the thing that becomes Money has ALMOST NOTHING to do with amount of dApps it can fuel, and everything to do with inflation and security. It’s simply irrational to store your wealth in something with 4% inflation when something has 0.4% inflation.
2 replies 0 retweets 7 likes -
Replying to @MustStopMurad @TusharJain_
2/ Even if ETH is neccessary for 1000 of the best and coolest dApps in the world, I can just buy some tickets at the “entrance to the fair”, so to speak. In that future my wallet would look like 95% sound money 5% fuelcoin, at best.
3 replies 1 retweet 8 likes -
Replying to @MustStopMurad @TusharJain_
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.
1 reply 0 retweets 9 likes -
Replying to @MustStopMurad @TusharJain_
4/ Especially given the fact that the switch will be more and more closer to instantaneous and frictionless in the future.
2 replies 0 retweets 6 likes -
Replying to @MustStopMurad @TusharJain_
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
1 reply 0 retweets 7 likes
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.
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