Isa
@isa3
0 reply
0 recast
0 reaction
0 reply
0 recast
0 reaction
2666 replies
5417 recasts
6468 reactions
0 reply
0 recast
0 reaction
349 replies
10253 recasts
10544 reactions
0 reply
0 recast
0 reaction
0 reply
0 recast
0 reaction
0 reply
0 recast
0 reaction
157 replies
5690 recasts
5990 reactions
0 reply
0 recast
0 reaction
THE SOVEREIGNTY SPECTRUM
Bitcoin set out to achieve sovereignty. Every other cryptocurrency interpolates between BTC and USD.
Visually:
USD < USDC < SOL < ETH < BTC
So, USDC is less sovereign than SOL, which is in turn less so than ETH, which is in turn less than BTC.
To be clear: SOL and ETH are amazing achievements, very useful, and deserve all their praise! Because you don’t need to maximize sovereignty in every application. Indeed, I launched USDC at Coinbase with this tradeoff in mind.
But you must keep in mind that this *is* a tradeoff. If Bitcoin didn’t exist, with its level of sovereignty, none of the other assets would be possible — either technically or socially.
So, the network state is like Bitcoin in this sense. It sets out to eventually achieve sovereignty. It thereby defines one end of the spectrum.
As with BTC and USD, there will be many useful intermediates between legacy states and network states. But intermediates aren’t substitutes. 10 replies
29 recasts
95 reactions
20 replies
73 recasts
559 reactions
56 replies
192 recasts
925 reactions
58 replies
489 recasts
2893 reactions
