RE: Bitcoin Haters Make the Best HODLERS
Excellent analysis as always, Sean!
I also think corporations, banks, and nation states will attempt to hedge by creating their own private "blockchains" (I just call these distributed databases as they miss the whole point of a blockchain). We've seen this pattern before with the various walled gardens of the Internet.
Some of those attempts, unfortunately for the cypherpunks, will succeed in gaining market share and value because many are not ready for the shift in consciousness required to fully take personal responsibility for their own stores of value. Also, these organizations have emended Network effects and marketing experience where much of the cryptocurrency scene is dominated by nerds who can't explain their wizardry to the muggles.
Either way, it's an exciting time to be alive!
Resteeming.
Thanks, Luke. I agree that there’s likely to be a stage where “walled garden” distributed databases will gain some usage and market share, perhaps even a lot. But I don’t see that being the end result Nash Equilibrium. In the end I think walled gardens will be to bitcoin/blockchain what AOL was to the Internet. Regardless, it will be fun to watch this play out!