1/ The fact that people still ask questions like this shows how not-well-understood Bitcoin still is. Bitcoin token has value because it directly represents the asset it tokenizes: an unforgeable, costly and decentralized ledger. (thx @NickSzabo4 for the lovely term).https://twitter.com/leoncfu/status/976469536894521345 …
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7/ Otoh, all assets can be purchased with money. Having a good form of money means that we already have THE token. Instead of buying a token that’s useful for a specific use case, the money token can be used at *any point in time* to purchase these assets, whatever they might be.
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8/ Not to mention that adding token to the system adds huge friction for the end users. Most of the times it hurts more than helps. Can you imagine the mental cost of managing hundreds of utility tokens to go through life? It’s absurd.
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9/ When these companies say tokens are easier to “capture network value”, they really mean it’s easier to enrich the founders & early adopters. The UX sucks for 99% of the normal users. Let’s be real, who’s the winner here?
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10/ Its the equivalent of having dollars, pesos, pounds, yen, renminbi, etc. in your wallet, and have to fork out the right currency & change at every merchant you go to. Its the epitome of needless inefficiency.
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11/ PS: btw, the “ledger asset” gives Bitcoin token its intrinsic value. The fact that we are willing to pay more than the intrinsic value represents Bitcoin’s monetary premium (SoV, MoE). If people only use blockchain as a database, they wouldn’t pay for this premium.
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