Profile picture
panek @panekkkk
, 9 tweets, 3 min read Read on Twitter
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!
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
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
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.
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.
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_
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to panek
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member and get exclusive features!

Premium member ($3.00/month or $30.00/year)

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!