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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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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End of conversation
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velocity is about to go to infinity on these 'utility' tokens anyway, so they will all go to 0. People will just hold one token.https://blog.0xproject.com/sneak-peek-0x-trade-widget-cbd13305407d …
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I think you just answered your own question. Not sure if a development team would be as motivated to develop something they didn't create "from scratch". If you're saying that we don't need such developers, I'd disagree because some of these are the ones driving innovation
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