This is a good point and most alt coins will fail. However not all are seeking to be currency. Tokenized securities etc will be tokens as well. There could very well be trillions in alts even if Saifdean is correct. They just won't be currency.https://twitter.com/saifedean/status/980843666850959365 …
Isn't that Argumentum ad crumenam as well? The exact same thing could be said about Bitcoin circa 2008. Bitcoin is in a lot of ways closer to @TheTedNelson's vision of hypertext than internet is. Just because it's damn good as money doesn't mean it's only good for that.
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No it isnt, because Bitcoin cannot be done with a simple database; it must be done with a block chain database. That arrangement was the breakthrough, for this single purpose, and it is not suitable for other purposes where MySQL+GPG will suffice.
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... Bitcoin turns out the entire data-layer inside out (in kind of the same way Kafka does for databases, eg. https://engineering.linkedin.com/distributed-systems/log-what-every-software-engineer-should-know-about-real-time-datas-unifying …). There are a lot of trust dimensions that it flattens -- trust that I don't have bugs in my access control; trust in products I integrate with...
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How can it flatten it and turn it inside out simultaneously? It's more useful to speak plainly about the actual processes; analogising is why Blockchain not Bitcoin and confusion are widespread, so that people literally cant understand why they cant have what they were promised.
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These two operations very often go hand in hand. I wholeheartedly suggest you read that article on the log data structure I linked. It's one of my favourite technical articles, has absolutely nothing to do with anything blockchain but offers a great mental model.
End of conversation
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