…erent answers on what decentralization is and what it means to society. This is highly alarming, as the real potential of cryptocurrencies is not to enable greater efficiencies and costs savings to enterprises, but to enable a new paradigm where incentives drive benefits back to users and supporters of systems rather than to large, centralized parties. ie — Moving power, control, economic benefit, and influence from a few to many.
…e is that while stablecoins are proving to be one of the most important primitives in open finance, there won’t be a one-size fits all winner. Different needs beget different features, which always come with trade-offs.
…llateral value. This comes from a misunderstanding of the basic value proposition of Maker and Dai. It is not to create a scalable, censorship-resistant stablecoin. It is to be able to generate censorship resistant stability for anyone holding a volatile censorship resistant asset.
…identity; absent a single foundation that maintains the trademark, Bitcoin must make do on its own. In practice, users, exchanges, miners, businesses, and developers engage in an ad hoc, socio-political process of adjudicating between competing visions of Bitcoin.
…expressed mathematically, for a true/accurate depiction of the market cap — but that seems elusive. How much % of such an altcoin do you need to sell to crash the price to close to 0 ? How much % do you need to buy to spike the market into believing a narrative and then capturing compounding returns ? It seems people are doing it, and missed-the-wave-investors like me are paying for their gains.