Thread by @JoelKatz

@VentureCoinist @MycolePawket @Ripple If you don't know which asset you'll need next, it makes sense to hold the bridge asset. If you are just being opportunistic and want to make money, you want to hold the asset people will need when they sell a rare asset cheap and that will be the bridge asset.

@VentureCoinist @MycolePawket @Ripple I don't buy the argument that the performance of the native chain doesn't matter. If that were true, bitcoin wouldn't have been a significant innovation because it's just a better native chain. If it takes hours to set up a pipe or fund a pipe, you need to pre-fund the pipe.

@VentureCoinist @MycolePawket @Ripple XRP has less regulatory clarity in the US than bitcoin. Maybe less than ETH. Everything else, ... Who knows?

@VentureCoinist @MycolePawket @Ripple If you buy the argument that people will just work around bitcoin's native chain's weaknesses, then why the heck do we like bitcoin at all? Wasn't the whole point to build a new, awesome bottom layer instead of working around inferior technology with kludgy layers above?

@VentureCoinist @MycolePawket @Ripple Non-algorithmic stablecoins are always going to be tied to the jursidiction of whoever backs them or redeems them. They can't be universal. It's easy to imagine a perfect algorithmic stablecoin, but I don't think anybody knows how to build one and it may not happen.

@VentureCoinist @MycolePawket @Ripple To say bitcoin will beat XRP, you have to think that all that matters is its lead. It's slower. It's more expensive. It lacks on-chain features like account security management. We don't know if block generation will be stable as the block reward drops. ...

@VentureCoinist @MycolePawket @Ripple ... It has forced stakeholders (miners) who want high fees when users want low fees. Really all it has is a lead, first mover advantage. (I concede, that's likely enormous.)

@VentureCoinist @MycolePawket @Ripple Does this mean XRP will definitely become the world's bridge asset and overtake bitcoin? Of course not. That is *definitely* not what I'm saying. Among other things, I do think the whole digital asset space will grow.

@VentureCoinist @MycolePawket @Ripple Market leaders are vulnerable to losing ground to superior technologies if there are structural reasons they can't adopt those innovations. And bitcoin can't innovate because it's value proposition is too focused on it being the same in the future as it is today.

@VentureCoinist @MycolePawket @Ripple Oh, no. I used "it's" instead of "its". BBIAB, I have to ... do something.

@VentureCoinist @MycolePawket @Ripple Oh, one last thing. This is all just me. This is not necessarily Ripple's view and it's definitely not XRP's view (whatever that would even mean).