Eric Wall
Eric Wall
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.

    Eric Wall

    Written by

    Eric Wall

    Crypto-darwinist. Writer on cryptocurrencies & privacy @ Human Rights Foundation, trading and shitcoins. Previously built crypto-exchanges @ Cinnober (Nasdaq).