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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's "no threat" to fiat
+ ZEC has a "trojan horse" via its large unshielded pool
Own all three.
+ BTC has a narrative, Lindy effect, hard tech & zealots
+ ETH is a platform commodity that'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's tough to replace. It boring, and "one-dimensional" but its ossification makes it a currency Sparta'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's good! The toy & toymaker aren'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's good! The toy & toymaker aren'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's shadow until it'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's shadow until it'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'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'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.
