1/ Thoughts on the Equation of Exchange (MV=PQ). I think people are abusing it. Reliance on this oversimplified equation to value “crypto-assets” misses important nuances.
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12/ Even if decentralized token-based networks work, one can hold only bitcoins & exchange them for these tokens at the last minute. Meaning it will be *Bitcoin* that actually captures your network value.
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13/ Remember: money is the ultimate “utility” token. The utility of money encompasses all sub-utilities.
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14/ For more on why utility tokens make absolutely no sense: https://twitter.com/hugohanoi/status/976261540419534848 …
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