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BTC, ETH, ZEC are all vying to be the winning crypto "money." Each has a unique strategy:
+ BTC has a narrative, Lindy effect, hard tech & zealots
+ ETH is a platform commodity that& #39;s "no threat" to fiat
+ ZEC has a "trojan horse" via its large unshielded pool
Own all three.
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+ BTC has a narrative, Lindy effect, hard tech & zealots
+ ETH is a platform commodity that& #39;s "no threat" to fiat
+ ZEC has a "trojan horse" via its large unshielded pool
Own all three.
2/ BTC has the first mover advantage. It& #39;s tough to replace. It boring, and "one-dimensional" but its ossification makes it a currency Sparta& #39;s 300 would be proud of.
Its "volatility is a feature" that entices speculators, then hedgers, then failing nations, then the world.
Its "volatility is a feature" that entices speculators, then hedgers, then failing nations, then the world.
3/ ETH as "money" is a mess in a beautiful, internet-y sort of way.
Like any good cult, the high priests miss deadlines and move goal posts, but retain believers based on charisma, vision, earnestness.
Attack surfaces are vast, but that& #39;s good! The toy & toymaker aren& #39;t scary.
Like any good cult, the high priests miss deadlines and move goal posts, but retain believers based on charisma, vision, earnestness.
Attack surfaces are vast, but that& #39;s good! The toy & toymaker aren& #39;t scary.
4/ ZEC is a trojan horse.
+ 4yrs of nonstop investor pain shakes out non-believers
+ A clean opt-in / opt-out privacy pool builds momentum with regulators while fixing long-term fungibility (unlikely to get fixed in BTC)
+ ZEC hides in BTC& #39;s shadow until it& #39;s too-big to fail
+ 4yrs of nonstop investor pain shakes out non-believers
+ A clean opt-in / opt-out privacy pool builds momentum with regulators while fixing long-term fungibility (unlikely to get fixed in BTC)
+ ZEC hides in BTC& #39;s shadow until it& #39;s too-big to fail
5/ Literally everything else in crypto, I value vs. these three assets, and traditional security / commodity comps. They will be hard to displace as my preferred SoV candidates.
Who else might be interesting?
+ Layer 1: DOT, ATOM, ALGO, ADA, XTZ et al.
+ Privacy: ETH, BTC, XMR
Who else might be interesting?
+ Layer 1: DOT, ATOM, ALGO, ADA, XTZ et al.
+ Privacy: ETH, BTC, XMR
6/ FIL is interesting because the unit economics can be compared to hosted storage and compute (big TAM)
DEX& #39;s / DeFi are mostly mutuals.
Aragon puts a tangible price on governance.
etc.
But those are all fractions of the SoV TAM, which is where the real moonshot is.
DEX& #39;s / DeFi are mostly mutuals.
Aragon puts a tangible price on governance.
etc.
But those are all fractions of the SoV TAM, which is where the real moonshot is.
