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Discussion
This is definitely not Blockbuster vs Netflix. I think in the long run their "diversification" away from sound money will cost them dearly. I can't see the ETH scam really ending well for anyone. Whether it's some sort of PoS hostile takeover, or politcal coercion that corrupts the system because it's centralized, or just some critical bug that wrecks everything, or it just fades into obscurity. I think "the 13%" will form the foundation of the new world. #Bitcoin
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Fairly certain Gresham’s Law doesn’t apply to movie rentals!
Yep. Once again, people are trying to compare products to protocols. I love Guy's (or maybe it was from someone's article he once read? 🤔) analogy about cars and traffic laws:
Cars are products. If you can afford many of them, and you don't know which one will perform the best, go ahead and diversify! You'll end up winning one way or another.
Traffic laws are protocols. If you try to follow US traffic laws at one moment and UK traffic laws at another moment, all for the sake of "diversification"...😬 Good luck surviving!
Blockbuster and Netflix were/are companies that sell entertainment products. Bitcoin and crypto are protocols for money; it's just that one of them works as intended, and all the others just don't.
As Michael Saylor would say, being in the 13% "isn't conviction, it's rational thinking for yourself."
Gresham's law really only applies when there are efforts to peg the market price of a crappy money vs a better money.
Their's law says good money drives out bad when there is fairly open competition (& eventually even in controlled economies).
This is the biggest hurdle for techies. Bitcoin looks like a technology at first impression. They think it will be succeeded by the next version.
That’s why they’re so confused when the community won’t let them “innovate” and fill the codebase with their tech debt. 😀