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Kyle Samani
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Analysis of Cryptoassets

  • The ability of all MoE functions collapses to 0 because M = PQ/V and V will trend towards infinity.
  • When comparing SoVs to MoEs, the only mass-scale example in the world today is physical cash.
  • If you use BOFA or Chase for debit account, whether you use Visa to pay for coffee or Venmo to pay a friend, your wealth is stored in USD.
  • Or, you invest in something that is cashflow-producing like real estate, stocks, or bonds, or assets like art, or in something that's explicitly censorship and inflation resistant like gold.
  • BTC is also a censorship resistant SoV today without substantial modifications. It has strong network effects, using Metcalfe law, which rounds to n^2 effects.
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