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1/ Blockchains collapse the cost of digital asset creation, custody & transfer, enabling *programmable value* of all kinds.
2/ Money, while an important application of blockchains, is a subset of the broader programmable value universe.
3/ A money like #bitcoin is likely to be the greatest *single instance* of value capture within the programmable value universe, which is why many of the top #cryptoassets today are battling for this position.
As of yet, no #cryptoasset is too big to fail-- not even #bitcoin.
Too big to fail applies in 2 areas
1) #Cryptoland, where the question is: will crypto be crippled if a core network suffers catastrophic failure (or slow fade 2 obsolescence)
2) Macro-land, where the question is: will global economies be severely affected if X #crypto goes down
1) #Cryptoland, where the question is: will crypto be crippled if a core network suffers catastrophic failure (or slow fade 2 obsolescence)
2) Macro-land, where the question is: will global economies be severely affected if X #crypto goes down
3/ In case #1, there's no doubt #cryptoland would go through a period of heavy puking if #Bitcoin or #Ethereum went down, and while a few #buidlers would defect, the majority would stay and adapt.
