If blockchains don’t enable money, they enable disintermediation. Thus, in a p2p framework, the value flows directly to consumers, closing the previous “rent” arbitrage. Seems like only governance protocols can capture that value migration due to their superadditive nature.
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Replying to @alexanderliegl
what do you mean they don’t enable Money? :D The Reinvention of Money is by far, with an enormous lead, the biggest use case for blockchain tech
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Replying to @MustStopMurad
Those that don’t serve the former use-case serve the latter. Yes haha TAM for money is likely orders of magnitude higher, but that’s not what I’m addressing here.
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Replying to @alexanderliegl
Do you agree that Bitcoin, Privacy coins and Stablecoins are the 3 biggest contenders for the SoV/Money use-case? Do you think Smart contract platform tokens are contenders, or do you merely view them as fuel/working capital?
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Replying to @MustStopMurad
I’m still undecided on the practical implementation/feasibility of stablecoins. Interesting would be a “coinless” UoA settled eg in BTC. SC platforms seem like horizontal AI platforms to me - will be commoditized unless they have SoV functionality (contingent on monetary policy)
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Replying to @alexanderliegl
Given that fixed-supply commodities, let alone moneys, have never existed before, how big do you think BTC would have to be to be usable as a convenient MoE, if at all?
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Replying to @MustStopMurad
Tough q haha - intuitively being a MoE is a binary. That implies BTC will have to achieve full saturation of its TAM in order for that to happen. But that’s just trying to be inductive from SoV assumption
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Replying to @alexanderliegl
Yeah BTC will need to be 40T+ to be a smooth MoE imho
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Replying to @MustStopMurad @alexanderliegl
How do you calculate 40T? USD M0 is 4T so that seems high.
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Total USD is around 34T
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Replying to @MustStopMurad @alexanderliegl
What do you include in the 34T figure? Money markets, etc? Are you assuming that there will need to be an equivalent amount of bitcoin because full reserves are required?
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