A few things to make you think... If bitcoin is the digital pristine collateral, the size of global gov bond market is $123trn. Pretty amazing opportunity for bitcoin.
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And then we can add in trade finance, credit cards, stock lending and borrowing, repo markets for bonds, etc
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Almost no one in crypto understands the size of financial markets. It is never ever going to be winner takes all. It is near impossible as each blockchain has its limitations and trade offs and that suits the complexity of the financial world.
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This is why I care about the entire DA space. There will be many enormous winners, many failures, many scams, many false dawns but in the end, trillions and trillions of value will accrue across digital assets, tokens, protocols and crypto that tie all of this together.
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The future is a super network of blockchains with the most pristine being bitcoin and the risk curve moves out from there. Any other outcome accruing to one winner is nothing but false hopes and dreams.
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My hunch is BTC is a perfect collateral layer but ETH might be bigger in market cap terms in 10 years for the reasons above. Money and collateral is just the base layer. Everything builds on top. The store of value is collateral, the trust layer and exchange of value is bigger
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Raoul (who I have tremendous amount of appreciation and respect for) didn’t own any alts on Kucoin and it shows.
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You know what's interesting
@RaoulGMI? If you look at the initial emails between Nakamoto and Hal Finney, they have this interesting macroeconomic musings they entertain whereby Hal speculates that this "Bitcoin" cockroach might = all of Global wealth. 1Sats = 1 USD? - Show replies
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I learned to stop underestimating bitcoin
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Prediction crypto will "End in Tears"
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I think it's more fair to say that no one in crypto comprehends the massive inefficiency of multiple fragmented layers of legacy financial systems in the global markets cobbled and duct taped together. Blockchain will renovate and streamline all of it
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Raoul, wow ok. I’m an early hodler & feel rather overwhelmed. We all buy to make money, but early buyers are sitting on generational wealth, that’s a responsibility. Gulp! Can U point me to any videos on real vision that cover how to deal with this wealth transfer! Thank you
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