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Interesting Reading - Fat Protocols
| amber toilet seat idiot | 01/22/18 |
| emerald marvelous sanctuary ratface | 01/22/18 |
| comical fiercely-loyal church building masturbator | 01/22/18 |
| amber toilet seat idiot | 01/22/18 |
Poast new message in this thread
Date: January 22nd, 2018 3:39 PM Author: amber toilet seat idiot i have a finance background and intuitively think about the value proposition of a given investment. the more i use this lens to think about crypto, the more embarassed i become about 99.9% of the shit i and others have done and posted here and elsewhere. “discussion” currently amounts to chickens running around in circles with their heads cut off. even developers are economically retarded or ideologically blinded while traders are often just retarded across the board.
i currently don’t think i know shit (though i’m rapidly learning) and you probably don’t either.
but this helped me be less dumb and you should read it too: http://www.usv.com/blog/fat-protocols
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Date: January 22nd, 2018 3:42 PM Author: emerald marvelous sanctuary ratface "the more embarassed i become about 99.9% of the shit i and others have done and posted here and elsewhere. “discussion” currently amounts to chickens running around in circles with their heads cut off."
ccccr |
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Date: January 22nd, 2018 3:55 PM Author: comical fiercely-loyal church building masturbator The question becomes whether there's more room at the protocol layer (ie ZIL)..Or is everyone entrenched in the protocols already out there (http://www.autoadmit.com/thread.php?thread_id=3867568&forum_id=7#35211400) |
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Date: January 22nd, 2018 4:17 PM Author: amber toilet seat idiot i think the current protocols are flawed enough that there’s room for new entrants. this explains the big interest in cardano and tezos no?
the bigger issues with this is it probably doesn’t account for the impact of mining costs coming down and gpu tech improving. if protocol tokens go up like he predicts there will be massive interest in mining the fuck out of coins until protocol tokens equal the marginal cost of mining them. at least under the current PoW systems. am i misunderstanding how ethereum’s economics work vis-à-vis the gas price mechanism?
also, it assumes that people will want to store substantial value in protocol tokens which may not have much liquidity, particularly if atomic swaps make it easier to jump from bitcoin/some other accepted store of value coin to protocol tokens as needed.
overall not sure how much i like this argument but it’s basically the bull case for ethereum |