Sep 3, 2018 · 1 min read
“The assumption that you’d be able to lock users into exclusively using your token for your decentralized network is naive. Even if decentralized token-based networks work, one can hold only bitcoins & exchange them for these tokens at the last minute.”
Can’t this be summarized by exactly MV=PQ?
M = PQ/V
Since V is high when you exchange tokens all the time and never hold them, M will be low.
