The Ledger
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Monegro: Dual-token crypto models lead to wealth concentration among early holders
“And the risk of separating the access token or the work token from the currency token is that the people who accumulated the access tokens early on, that group becomes increasingly concentrated over time. As the economy grows or as the crypto network grows.”
Monegro: Single-token designs force capital distribution to enable network usage
“The value of combining the two, if you have a single token that is both a supply side token and a payment token, in order for the supply side to provide its service, it has to take payment in that token. So the token has to be in the user's hands in order for …”
Monegro: Bitcoin will not become a currency for buying coffee
“But I also don't think we're heading to a world where you buy your coffee with Bitcoin.”
Monegro: Crypto value accrues where service costs are highest
“Value will accrue to where there is the highest cost. And it doesn't really matter where in the layer that is. It matters more what is the kind of service that's being provided and what is the cost of that service.”
Monegro: Governance power increases in value as crypto networks grow larger
“And my belief is that as the game becomes more valuable, then the power to change the rules becomes more valuable as well.”
Monegro: Rough consensus governance only works well for small stakeholder groups
“And my take on it is rough consensus works well when you're small and when the number of stakeholders is fairly small.”
Monegro: On-Chain Governance Criticisms Rely on Primitive Linear Voting Assumptions
“I think a lot of arguments against on-chain governance are kind of primitive in their thinking around how is that governance applied. One common element of a lot of the counter arguments is the assumption that governance power is linear and one token equals on…”
Monegro: Layer 1 executes machine work while Layer 2 handles human work
“Layer one is more machine work and layer two is more human work.”
Monegro: Blockchains challenge tech's proprietary data model like Linux disrupted software
“Right on schedule we get the arrival of a new open technology, which are blockchains that directly challenge The proprietary data business model, just as the internet and Linux challenged the proprietary software and distribution business model.”