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Not clear on your "Bitcoin will be the Yahoo" reduction. There's scarcity and commodity qualities to take into account, and making absolute statements about beh
by jksmith 4y ago
Not clear on your "Bitcoin will be the Yahoo" reduction. There's scarcity and commodity qualities to take into account, and making absolute statements about behavioral economics has a far greater chance of being wrong. Not arguing to a binary reduction; just suggesting signal to noise is way to low to make this kind of prognostication.
So a good qualifier for this space is to explicitly say "My gut tells me that..." While I don't know what my gut tells me about BTC yet, it does tell me that the compromise elemental to all non-BTC coins, including ETH will eventually damage or even destroy them. The one exception might be ZeroStableCoin.
- legutierr 4y ago> it does tell me that the compromise elemental to all non-BTC coins, including ETH will eventually damage or even destroy them What is this elemental compromise you are referring to?
- jksmith 4y agoWillingness to fork, which requires human choices/intervention. Seems to me the extinction of forking is (was) a design goal of BTC. I know of no example of that with alts. In fact, there seems to be zero appetite for this goal with alts.
- kybernetikos 4y agoVitalik has talked about the balance between innovation and stability and has said that it is a goal for ethereum to become more stable over time. The danger is just doing that too early and ossifying around an inadequate design.