- This is an interesting article, thank you.
This is an interesting article, thank you.
I think it both underestimates the upside and the downside.
We are dealing with a great deal of uncertainty here. What is needed is to weight risk with subjective assessment of probability.
If Rootstock (or an alternative) takes hold such that dApps can be built on top of BTC instead of Ethereum or its competitors then there is massive value accretion to BTC as the ultimate, non- negotiable representation of value for blockchain applications.
If Dfinity or Seele or whatever displace BTC with greater privacy, transaction speed and lower fees then there is a lot of potential downside.
What we don’t know about bitcoin is how important first mover advantage is. The single largest value proposition for bitcoin is that it has never been corrupted either by hack or by consensus change.
To my mind, the strongest value proposition for BTC is as store of value. Analyses which blend its potential value between remittances and digital gold are unhelpful.
- Date of publication:
- Wed, 02/14/2018 - 14:35
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