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RE: 7 Thoughts On Blockchain, Cryptocurrency, & Decentralization After Another Three Months Down The Rabbit Hole
Eager to read about it, Following you
Make me think of that piece : https://www.reddit.com/r/BitcoinMarkets/comments/77twjx/why_the_debate_about_blocksize_is_irrelevent_and/?utm_content=title&utm_medium=hot&utm_source=reddit&utm_name=BitcoinMarkets
Thank you for the follow and the upvote. Great article...the guy speaks like a true financial guys.
Some points I do agree with him on..
-there is a ton of Wall Street money coming in...$1T? I dont know...seems reasonable.
-BTC will get the lion's share of this money, especially initially. No financial broker is going to bother to learn about zCash or Monero or try to convey that to his/her client. It will be you need crypto get bitcoin.
-Even thought the lion's share goes to BTC, other coins will benefit since the entire sector will be uplifted and there will be some really speculative (gambling) money in the $1T
-BTC will not replace fiat currncy nor the financial system...it will be a big part of it (well blockchain will anyway...which I believe BTC will be the leader in that)
There area I disagree with him is the notion that money (the finance guys) will drive everyone...the miners, the developers, etc... He is still looking at this like the typical internet endeavor. The finance people could drive the develop on TCP/IP and HTML since those companies had all the value. While it is being debated, I still feel that in an open de-centralized blockchain, here one can seamlessly move around (hence basically eliminating the silos), there will be less value in the app companies on top of the chain. The value of my steemit account, which is really a steem blockchain account, does not come from Steemit...heck I can use three other interfaces to access the same info...it comes from all the transactions on the blockchains. Hence, where is the financial guys payback for lining up the developers?
Very thought provoking article...
Yeah, I think it's way more likely that the large investors are going to refer to experts, which are most likely going to be bitcoin maximalist or they will learn to become cypherpunk themselves. You don't buy into a new asset class to turn it into the the same old failure. I'm looking at you Segwit2x ... a Corp takeover attempt.
I will give this guy who wrote the article credit...for a financial guy, he at least has a clue about what he is talking about when it comes to the technology. I dont know, maybe he did it in other posts on there, but I noticed he didnt use the term bubble. This guy knows full and well the bitcoin train is just getting started.
BTC wasnt phased by BCH...BTC isnt going to be phased by BCG (or whatever they are calling it) and it wont be phased anything else that tries to fork it.
He is right about the feedback loop....stated a little different, the developers take a blockchain and start creating some cool stuff on it which gets the attention of entrepreneurs who hire other developers to create more cool stuff which starts to get the price, garnering publicity, which attracts the speculators who push the price up higher (and more attention) which draws in more developers.
Same basic premise, the Wall Street guys are going to bring a lot of attention to this space, especially bitcoin.