I very, very rarely think pro-Bitcoin pieces are well-written or well-reasoned, so I suppose it's extra important to point to them when they are: https://s3.eu-west-2.amazonaws.com/john-pfeffer/An+Investor%27s+Take+on+Cryptoassets+v6.pdf … I entirely disagree with the investment thesis therein but I learned things reading that.
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Another insight, which (synthesized with another argument) suggests that someone might eventually try a Bitcoin fork and say "Satoshi's services are no longer required, so this for adds features you want and funds development by expropriating his coins over this schedule."pic.twitter.com/Q4g0NonS2v
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"Bitcoin people would never go for that, Patrick. They're too big fans of Satoshi." If you buy the thesis of this paper, holders of Bitcoin will increasingly not be "Bitcoin people", but rather sophisticated investors who don't care about equity allocations to dev teams.
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What happens when BoA says the hell with Bitcoin and starts their own crypto AmCoin or JP starts ChaseCoin and mainstreams the whole thing? The nice thing about real currencies is that there are a finite number of countries in the world and therefore a finite number of markets.
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JP cares about blockchain a lot.
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