1/ Most neo-gold maximalism is also parroting.
The entire debate of SOV ($BTC) vs. utility ($ETH) #cryptocurrencies relies on the assumption that utility coins can't also be SOV/neo-gold.
But of course--they can!
The entire debate of SOV ($BTC) vs. utility ($ETH) #cryptocurrencies relies on the assumption that utility coins can't also be SOV/neo-gold.
But of course--they can!
2/ Many coins share the same fundamental properties of neo-gold. Let's call these "FPs". The exact FPs are not universally agreed upon but typically include the following:
- Censorship-resistant
- Secure
- Fixed supply/immutable monetary policy
- Decentralized
- Self-sovereign
- Censorship-resistant
- Secure
- Fixed supply/immutable monetary policy
- Decentralized
- Self-sovereign
3/ Many cryptos share these FPs so belief in coin X becoming neo-gold then is a bet that:
A) it scores best among these FPs
B) it will always score best
C) other properties--such as utility and on-chain scaling--either don't matter or worse detract from these FPs
A) it scores best among these FPs
B) it will always score best
C) other properties--such as utility and on-chain scaling--either don't matter or worse detract from these FPs
4/ There are issues with all of these beliefs:
A -- These FPs are not binary so scoring them is complex. E.g., there's no consensus on how to measure decentralization.
A -- These FPs are not binary so scoring them is complex. E.g., there's no consensus on how to measure decentralization.
5/ B -- No coin has completed its roadmap (and updates will continue for many years) so a bet on coin X is a belief that it will continue to score highest across all FPs for the foreseeable future. This is of course unknowable.
6/ C -- Sorry but I believe that utility (and network effects) and scalability increase the value of a neo-gold/SOV. A truly global neo-gold needs more on-chain throughput than 7 tx/s if for example we want it to remain self-sovereign (otherwise custody is forced off-chain).
7/ To sum in laymen terms, this is simply a debate of neo-money vs. neo-programmable-money.
There are many smart people on both sides of the debate. And this is further reflected by the market caps of the top neo-money ($BTC) and neo-programmable-money ($ETH) coins.
There are many smart people on both sides of the debate. And this is further reflected by the market caps of the top neo-money ($BTC) and neo-programmable-money ($ETH) coins.
8/ So to expect that heterogeneous human beings who can't decide between Laurel and Yanny will swiftly converge on a champion given all the uncertainty discussed above is naive. It's simply too early to place a *maximalist* bet IMHO. And the market reflects this.
9/ I plan to write on this in a lot more detail in the coming weeks so stay tuned. This debate is far from settled and fun to be a part of!
Bring on the parroting!
@KyleSamani @TusharJain_
Bring on the parroting!
@KyleSamani @TusharJain_
