polynya pfp
polynya
@polynya
It's evident that alternative store-of-value is >90% of the demand driver for the crypto industry, and arguably the only demand driver for its dominant asset - BTC. Yet, it seems there's very little investment in improving this dominant usecase and biggest success story. BTC remains a ticking time bomb, and aside from BTC & ETH, most crypto assets are high inflation dumpsters (literally, for VCs).
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Garrett pfp
Garrett
@garrett
how would you design a token who’s only value prop would be a SoV?
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Cooki pfp
Cooki
@cooki
Very much a winner-take-most market dynamic here though right? As you say, and I would agree, that ETH is the only other major crypto-asset that has good SoV properties, but look at how the market rejects it as a SoV Basically only the ETH maxis are saying "ETH is money" (and have notably stopped saying "ETH is ultrasound money"), while everyone else scoffs at the idea entirely I guess you could say, "well moneyness != SoV", and yes, sure, but I hope you see my point, the market seems to only want one SoV and is quite content (at least for the moment) with that only being BTC
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albi is /nervous pfp
albi is /nervous
@albiverse
/microsub tip: 2522 $DEGEN
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Oxytocin pfp
Oxytocin
@oxytocin
As boring of an answer as it is, for most people there's very little point keeping a store of value on ETH/BTC when stablecoins exist. If you are uncertain enough about your local economy to try out decentralized alternatives, a USD denomination is safe enough. Expect to see less VC alt L1s and more stablecoins like PYUSD as more and more people notice this.
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CryptoPlaza🎩Ⓜ️💜 OG449 pfp
CryptoPlaza🎩Ⓜ️💜 OG449
@especulacion
I think the demand for alternative store-of-value in the crypto industry can actually be divided into two categories, much like in the traditional financial system. On one hand, you have an asset similar to gold, which is Bitcoin (BTC) — a "digital gold" serving as a store-of-value with limited use beyond that. On the other hand, there are assets more analogous to a national or community currency, like the US dollar, and in crypto, this would be Ethereum, Solana, or even Telegram's ecosystem. While it may seem unlikely now, I believe that Bitcoin, in the worst-case scenario, could adopt alternatives to Proof of Work (PoW) if its sustainability issues become more critical. When the issues become undeniable, we can be sure that alternative solutions will emerge, potentially in the form of forks that offer more sustainable consensus mechanisms or other improvements to address these challenges.
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Charlaiz 🔊🦇 pfp
Charlaiz 🔊🦇
@charlaizz
How long before this BTC bomb pops? Should be sooner than most expect - but with current dominance might drag everything with it
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Matti
@vinogarden
Eth is garbage
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Nandit Mehra pfp
Nandit Mehra
@nanditmehra
BTC is right now 56% of total market cap, where does 90% come from?
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Michael Depetrillo pfp
Michael Depetrillo
@klassicd
Not gonna lie the ultra sound money narrative was enticing, but I fell in love with Ethereum because it's our best shot at a P2P electronic cash system.
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Phil
@philastru.eth
I’m curious your thoughts as to how you would advise improving crypto’s dominant use-case asset to diffuse the bomb?
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