Need to distract myself from the potential crypto bubble popping, so I'm drafting up a post on an interesting analogy proffered by a Silicon Valley heavyweight...
Paypal Board Member and Xapo CEO Wences Casares recently sat down for a Facebook Live interview with Paypal head Dan Schulman.
He challenged those who claim they "believe in Blockchain but not necessarily Bitcoin":
He fleshed out the analogy further when asked to forecast crypto's future:
When it comes to a store of value, he believes there will only be one coin standing:
Queries
What do we think about the "there can only be one" forecast? It certainly seems like we're in for a ton of consolidation (hell, it may be happening right now) as 1,400+ currencies is just absurd on its face. But I never really entertained the idea that there will only be one left standing.
Is the 'protocol' analogy vis-a-vis Internet/Web protocols an apt one? I'm probably not proficient enough technically to give an answer to this one.
If you buy that there will be only one store of value currency in the end, do you think it will be Bitcoin? If not, which altcoin will take the throne?
Update: it appears the market has begun to stabilize (possibly recover?)
Update #2: spoke too soon. Still crashing. Checking my portfolio just now...
|| @bubbleboy ||
