David
David
Sep 8, 2018 · 2 min read

Absolutely great read! Thank you so much for sharing this. I was plugged into this article like I haven’t been in a long time. I do have to point though — I did have some hesitations (if I may say) about the last part. First of all, I think that the fact that everyone has skin in the game, is what actually makes it so difficult to asses properly — we are all biased! We need to admit that. That being said, the one thing I cannot agree with is your assertion regarding the developers. Stating that “ there is a feedback loop that exists which is catalyzed by investor interest” is difficult to hold true when looking at the ethereum landscape. The issue is — i believe — that these two platforms are so different that it’s hard state that Bitcoin can drive developer’s interest. This is — by a matter of fact — not true. Most of the development being done is on Ethereum. Claiming that because of bitcoin’s higher valuation (Market Cap) devs are more likely to follow suit, is a problem when it comes to Bitcoin. This is because — as any dev will tell you — bitcoin does not allow for turing-complete scripts. This is a huge stopper for development. While Bitcoin Core might be the most gifted bunch in the universe, this does allow for a fertile platform. Aside from building scaling and privacy, Bitcoin allows no complex logic — and this is by design (and a smart decision it was!). You have mentioned that “ Developers cannot create value in a vacuum with a crypto-asset”, and I also think this is not necessarily true. I do agree that no one is going to hold a token which is specific-usage-token as a store of value. 100% correct. But one might find himself holding a platform-token for general-usage rights. I am not saying (nor do I know) if this is enough to tilt the equation (might still fail), but it might FORCE internet users to hold some ETH (for example) in a wallet so they can use any of the dApps built on top of it. History teaches us that you only need ONE app to create a good incentive for users to do so. Is this enough to change the narrative? I don’t know. I have no idea.

Again — sorry for this long post. Thanks for sharing!

    David

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    David