Oddbean new post about login | logout As I am not a maxi I advocate for small blocks on BTC and for big blocks everywhere else. Your point of view is just so dense because you see everything through the one coin to rile them all. Once you widen your perspective you'll see that BTC is perfect as it is. And the world is corresponding to Bitcoin. And bigger dynamic blocks on Monero or bcash are perfectly fine as well. They actually don't need to have small blocks, as BTC has that covered already. The market always creates choices for traders. And currency competition (not monopoly) is the goal if you follow the Austrian school of thought.
Money tends toward one because it is a language & an economic protocol. Saying we need monetary competition is kinda like saying we need competition for rules of the road. We need competition to decide if driving on the right or left is better, we need competition to decide if red should mean stop or go. Consensus around the rules of the road are what allow people to get where they need to go. Money is what enables value comparison & competition. If we had endless competition about internet protocols then nothing would work. The monetary competition is going to eventually come to an end & I think Bitcoin is going to win it because development took network security & robustness more seriously.
I see where you are coming from, but I can not see this represented in reality. At least not where markets play a role. You are stating your assumption as a fact when it is in reality just your belief. And it's an interesting one as maximalism builds on that belief. I and many others have different believes which ironically renders your belief invalid. But you don't care. Maximalism must prevail. Look around. There is competition in everything. Nature is built on competition. Markets are built on competition. Temporary social consensus (man made and because of that impermanent) doesn't change that. Anyways nice to understand that Bitcoin maximalism is not rooted in the Austrian school.
The dollar has been dominant even with countries violently trying to impose their own currency monopolies, the internet is built on a common protocol stack, english is the dominant language to an ever growing degree, all life is built from RNA & DNA, I think nature supports what I am saying quite well.
It supports different perspectives. And a dominant currency is not the same as one currency.
I mean, I think people should be free to create & buy any sort of collectible bullshit they want, but I think everything outside of bitcoin will eventually be seen as just that.