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Vitalik Non-giver of Ether @VitalikButerin
, 3 tweets, 1 min read Read on Twitter
To be clear, I never said that there is "no room for growth" in the crypto ecosystem. I said there is no room for *1000x price increases*. A 1000x price increase from today means $200T in crypto, or ~an entire 70% of today's global wealth being in crypto.
What I *actually* said is that, because large portions of the population have already heard of crypto, further growth of crypto in any sense must come from *depth* (ie. actual usage), and not bringing in more attention
Me: obviously, let's be realistic, the entire world wealth is not going to turn into cryptocurrencies...

Media: VITALIK IS A PESSIMIST!!!!!1!!1!

Guys, if you spin things this way you're *incentivizing* people to act more like @justinsuntron
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More from @VitalikButerin see all

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I'd like to follow @cryptochamomile's tradition and end the year with praise for groups I either consider outgroups or otherwise don't normally praise, both inside and outside the crypto space...
1. Many in the Bitcoin community legitimately care about non-cryptocurrency "freedom tech" that I think is very important and valuable and that much of the crypto space has a tendency to forget about, eg. open hardware:
2. Bitcoin culture is definitely on the "survive" side of Slatestarcodex's thrive/survive dichotomy (slatestarcodex.com/2013/03/04/a-t…) and this has genuine benefits...
Read 15 tweets
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1. Time for a brief tweetstorm on non-financial applications of blockchains. As blockchain scalability gets better and better, and UX improves and fees drop as a result, this will become a bigger and bigger part of the story.
2. One underappreciated way to view blockchains is as an extension of cryptography that does different things. Cryptography allows you to encrypt data, prove data was signed by someone, etc etc.... blockchains OTOH allow you to prove that a piece of data was *not* published.
3. A simple example is a blockchain university degree verification app I saw recently. A degree is certified with just a digital signature, but *revocations* are put on chain. With cryptography alone you can't check that a revocation was *not* signed; but with a blockchain....
Read 16 tweets
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Fun fact about the "cashless society" in China: the government is actively opposing it.

Translation: "Refusing to accept cash is illegal. Protect the legal tender status of the RMB"
Here's an article (Chinese) that describes their reasoning: zmdnews.cn/showinfo-93-48… (unfortunately it's down as of this moment)
Important caveat: opposing at the present time, not in principle forever.
Read 5 tweets

Related threads

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#crypto: Updated total market cap logarithmic regression. #cryptocurrency Market cap currently underperforming the predicted price by 47%. Even if the market tests new lows (likely), this metric is signaling that it's time to pay attention. 1/
Note: MC is not always the best metric for valuation purposes. Also, most altcoins/ico's have not yet survived an extended bear market. Missing this critical validation period, this serves more as a tool to observe where the market is in its current price cycle 2/
If this can happen to Deutsche bank imagine what can happen in this young market. Numerous coins may not retest all-time highs. It's still unclear how that will affect the predictive ability of the model for total MC in aggregate. Survival of the fittest at play. 3/
Read 4 tweets
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0/ What a hot start to the week for the #crypto and #blockchain ecosystem!

To help you keep up-to-date, here are just *some* of the developments out of the past ~24 hours' action...
1/ 🦅 #Ethereum-powered @AragonProject [ $ANT ] introduced the Flock program; the team's next step in decentralizing the development of #Aragon.

Flock will handle the initial application and pre-selection process for new Aragon teams. blog.aragon.org/flock-funding-…
2/ ⚖️ @NexoFinance [ $NEXO ] opened up applications for prospective liquidity providers.

The #crypto lending platform is guaranteeing a 1:1 conversion to USD on any of six #stablecoin (i.e., $USDT, $TUSD, $GUSD, $USDC, $DAI, $PAX). Minimum stake of $100k. Interest up to 6.5%.
Read 37 tweets
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1/x Today a CFTC official suggested that devs may be liable for crimes committed using their code (suggested & predicted by @angela_walch.) Now comes the collision of (1) First Amendment rights -code is free speech (2) contract (disclaimers in licenses) & (3) imposed tort duties.
2/x the language used "reasonably foresee" is suggestive of tort liability. This puts it in @angela_walch's wheelhouse. How does this shake out? Who wins? Think about this as a fire and a doctor. What's that mean? You can't yell fire in a crowded theater because it's reasonably
3/x foreseeable that people will be hurt in the ensuing rush. So we know if there's an inherent risk of harming others, 1st amendment speech rights may be curtailed. But what about the contract- i.e. the license agreement? Most #crypto software dev is done under #OpenSource
Read 25 tweets
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Crypto moves of July & August are something to laugh about and make market participants throw everything but technicals & momentum out the window.
1st rally on fakenews about an ETF that won't happen
2nd crash on an ETF rejection that was no surprise
3rd crash on an ETF postponement that was no news
4th rally on failure to tank on ETF rejections that were no news

All very rational. #crypto
Should replace there "was not news" by "should have been no news". The market's inability to process information efficiently is one of the key points.
Read 3 tweets
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Maslow's for biz
aka
@upekkhaAcc hierarchy of B2B needs

Every product bought by a business, meets one or more needs within the organisation. Founders who understand this hierarchy of needs make faster progress towards PMF in a B2B/SaaS context.

hackernoon.com/upekkhas-hiera…

[thread]
From lowest in the hierarchy, upwards:
Regulation aka laws & govt.
Workflow aka productivity
Topline aka revenue
Bottomline aka profit
Brand/Innovation aka future-proofing
Regulation: Business must 1st get their regulatory ducks in line.
CPA, CS, fin, env, approvals: govts extract a pound of compliance

It's a commodity chosen by functional personnel — i.e. CPA will choose accounting sw

Market shifts Sales Tax -> VAT -> GST trigger upheavals
Read 23 tweets
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#Today's story to #EndFamilySeparation Four months ago, Dad and 4-month-old entered at the Texas/Mexico border and requested #asylum. Dad and child were immediately separated and the baby put in ORR custody. #FamiliesBelongTogether
Dad was detained in a #Texas detention center where @RAICESTEXAS consulted. Dad accepted a deportation to be quickly reunited w/ his infant child. However, the Dad was deported & NOT his child. The now 8-month-old baby has been in ORR custody for 4 months. #EndFamilySeparation
The Mom and Dad now have once weekly Skype calls with their 8-month-old baby. That's right, folks. They Skype with an infant. #EndFamilySeparation #FamiliesBelongTogether
Read 7 tweets

Trending hashtags

#remittances #NeoWorld #security #0x #KittyVerse #cryptos #whitepaper #Fantom #Sapling #CryptoTwitter #Horizen #independence #technology #crypto #Litecoin #automation #decentralize #dApp #DEX #DeFi #XRP #IOTA #Ethereum #bitcoin #CoinGecko

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