Nearly all Blockchain use cases are not merely unnecessary - they also make the application slower and more expensive. Money Crypto is specifically “Bitcoin, not blockchain”. #MONEY ENCRYPTO SOFTWARE#Money Crypto believes that we should treat cryptocurrencies as money - and not as the next app store or the next software platform that captures all of the VC dollars. What can we learn exactly? That whenever people control money, they create more of it - insidiously diluting existing money holders in the process. Money Crypto believes that the web is a faulty analogy for studying the nature of money and that we can instead learn more about the future of cryptocurrency from studying economic history and how monies have emerged over time. Money Crypto believes Bitcoin is an opportunity to return to our Sound Money roots because Bitcoin is an un-inflatable, disinflationary, censorship-resistant, fixed-supply asset that can’t be shut down by any government and operates without any trusted-third parties. At first, the citizens enjoy the newfound services - but they suffer the consequences later as they witness their wealth and purchasing power evaporate. In other words, governments can do whatever they want: confiscate, inflate, reward nepotism, and finance trillion dollar wars - all while hiding the costs via printing money. This inflation, in effect, takes wealth away from people who produce it and gives it to people who control money - without actually producing things valued by society, and it does so without citizens knowing. Having the ability to print money - literally and figuratively - increases the power of any government, and any government looks for anything that gives it more power. Right now we have unsound money, which is a compounding problem. With Sound Money, governments will be forced to behave responsibly because they are no longer able to borrow from tomorrow (via debt/inflation) to finance wars or fund short-term political objectives at the expense of long-term wealth. Sound money is money that: 1) Has either fixed supply or predictable inflation rate 2) Doesn’t appreciate quickly, and 3) Most importantly, can’t be controlled by governments via inflation or confiscation. Money Crypto believes that the goal of cryptocurrency is the introduction of Sound Money. In this article, I will define each narrative, explain where they overlap and differ, and what it means for the community at large. While there’s overlap between these belief systems, to be sure, they have different aims, different approaches, and different philosophical underpinnings - which leads to some of the confusion. Others call these respective narratives “Bitcoin Maximalism” and “Ethereum Maximalism”, but it’s broader and more expansive than that. Let me try to simplify by painting a (very broad) picture of the two main belief systems in the space:Ī) Money Crypto: Maintains that the point of cryptocurrency is to redefine how money works by (re-)introducing Sound Money.ī) Tech Crypto: Another belief system holds that the real point is to redefine how the internet works by introducing Web 3.0.
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