41/ I’ve illustrated why above, if you disagree, then please give illustrative counterexamples other than vague notions of “financial innovation.”
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42/ So essentially, if you believe that a large market cap stabilizes the purchasing power of an asset, then why are you holding AMPL? Hold BTC/ETH and wait until/if its market cap reaches another order of magnitude larger.
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43/ People holding AMPL either 1) don’t understand that purchasing power must be stabilized to be a good medium of exchange. OR 2) understand this but think they can make money by selling newly minted AMPLs to others until everyone understands this and the market cap dumps.
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44/ Finally, nowhere do I claim that AMPL is a scam or a fraud. It’s just a fun, meme game. That’s all. Thinking that it is anything other than a game shows a fundamental lack of understanding of economics. So I’d like to know what and Brandon believe they're creating?
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45/ Why does the word purchasing power not appear a single time in the WP or website? Do you guys not know what that concept is? If you know what purchasing power is, then why not even legitimately address the claim? (because there is no way to address it, AMPL has no answer...)
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46/ I genuinely tried my best to read everything that was online about Ampleforth from the whitepaper to posts etc. The more I read it, the more dumbfounded I became. I genuinely would like to ask the AMPL cofounders to explain themselves. Or better yet, debate me over zoom live!
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47/ If you do decide to respond, please give concrete examples in your post the same way I did above. Give a coherent example of when AMPL would be better used than BTC (or any volatile crypto).
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48/ Disclosures: I trade AMPL 4 teh lolz. I’m also working on an algorithmic stablecoin project frax.finance. I promise Frax actually makes sense and is an actual stablecoin. But I can’t promise you the level of dank AMPL memes around our project, at least not yet ;)
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Your condensed concerns is that once it dumps under $1 a death spiral gets initiated, which never recovers? As an early investor all I can say is that this thing was half a year or so permanently under $1, which caused me big losses. It still multibagged my entry since then.
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Your anecdote doesn’t assuage Sam’s concerns. You can’t judge the resilience of a protocol based on idiots buying in
Same applies for Bitcoin. It is all about the narrative.
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Totally false. Bitcoin monetary policy is cycle-agnostic. AMPl monetary policy is highly cyclical - it rewards you hard during pumps and fucks you hard during dumps.
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