TheGuySwann on Nostr: The simple version: Money has the ultimate network effect, and its core values are in ...
The simple version:
Money has the ultimate network effect, and its core values are in TRUST, liquidity, and stability (not price, but supply). The value is not in payments (this has always been served by a million layers on top), wingdings, “smart contracts,” writing stuff on it, or the million other arbitrary “improvements” that a million shitcoins sell people on.
The “crypto” market is something that will consolidate over 30-50 years with the trend we have seen from the beginning. And everything that isn’t Bitcoin will slowly die, in my humble opinion…
ETH will be a particularly bad one. Their “staking” system for “security” is a disaster of permissioned, unreliable nonsense. Trust is the last thing they have built and everyone wants it for hyped up marketing nonsense that has no lasting staying power.
Want the in depth version:
I’ve covered thousands of hours of the history of money, network effects, Austrian economic theory, and crypherpunk history on my show, Bitcoin Audible
Money has the ultimate network effect, and its core values are in TRUST, liquidity, and stability (not price, but supply). The value is not in payments (this has always been served by a million layers on top), wingdings, “smart contracts,” writing stuff on it, or the million other arbitrary “improvements” that a million shitcoins sell people on.
The “crypto” market is something that will consolidate over 30-50 years with the trend we have seen from the beginning. And everything that isn’t Bitcoin will slowly die, in my humble opinion…
ETH will be a particularly bad one. Their “staking” system for “security” is a disaster of permissioned, unreliable nonsense. Trust is the last thing they have built and everyone wants it for hyped up marketing nonsense that has no lasting staying power.
Want the in depth version:
I’ve covered thousands of hours of the history of money, network effects, Austrian economic theory, and crypherpunk history on my show, Bitcoin Audible