Zero-Sum Thinking in the Age of Abundance
At the time of this writing the combined market cap of Ethereum and Ethereum Classic is just over 1.1 billion dollars. That’s approximately 1/9th the current valuation of Bitcoin. The valuation of all three combined is just over 11 Billion dollars.
Facebook is worth $328 billion dollars, almost 30 times as much as each of them.
The world economy is valued at approximately $74.31 trillion.
Watching people behave like there is not enough space in the world for ETC and ETH is kind of mind boggling, because it assumes that there is a finite space in which we are competing for dominance, and that it is preferable that one chain win. Both of these assumptions are untrue.
First let me address the idea that the chains are somehow competing in a finite space: The world of value is emergent and generative. This means that we collectively create things that bring more value to the world. Soccer is a multi-billion dollar industry that only has value because people like to watch it. You can’t eat soccer, you can’t live in it, it does not sustain life in any direct way. If no one had invented soccer, those billions in value would just be absent from the current reality we live in. But because value is emergent and generative, we are capable of bringing valueless things into existence, that over time come to be worth a lot, simply because people care about them.
Not only is there ample space in the world simply based on the scale of the world economy compared the tiny minority that cryptocurrency represents, but even if there weren’t, there would be room for both to grow without requiring a winner. This is not a zero-sum game. The winning hand is to let both chains live.
Secondly, there are many use cases for ethereum as a technology. Some are politically or legally contentious, but may be fine against most people’s moral compasses. Things such as darknets which people use to move goods and services which may harm no one, but are culturally deemed inappropriate, and are therefore illegal can potentially be built on this technology.
If the primary chain were the only one to exist, there is a risk of legal and cultural pushback if these types of services were implemented atop it, setting back the legal and practical applications of the chain. Since the development team and the foundation are an easy target for liability, simply deploying these types of dark services on the secondary chain allows for the best of both worlds — lack of culpability for development of ethereum the technology, while still being able to experiment with grey area applications. This is an obvious advantage, and you could not create a better circumstance than the one that has been presented.
Lastly, the fact that the same coins are duplicated on both chains is a net positive, as it hedges everyone’s holdings, and because value is emergent and generative, allows anyone who chooses to stay fully vested in each the ability to tap into the large potential growth.
This fighting, arguing, and trolling is unnecessary. It is a waste of time and resources. We are one community who may not fully agree on why we’re building this stuff, but it’s okay, because we’re building it. We have far more in common than we have differences. There’s a whole world of people who don’t even know we exist. Can we please be happy that there are two chains and just stop the trolling?