Real CEO Raoul Pal believes that investors should not think of cryptocurrencies as assets but as digital nations. In a recent blog post, the former Goldman Sachs executive claimed that the crypto ecosystem is a network that creates intrinsic and extrinsic value. He believes that the basis of the Bitcoin (BTC) network is that BTC is an autonomous monetary system that is not affected by government corruption.
Pal said it staunchly defends the integrity of the protocols by which society operates and therefore avoids innovation to preserve purity. He gave examples of Bitcoin markets, such as the medieval Catholic Church or the gold beetle subculture. In the Bitcoin economy, Bitcoin is the only asset that exists. Therefore, if you want to invest in this market, your only option is to hold Bitcoin.
In comparison, Pal believes that the Ethereum (ETH) network is more like the intricacies of the U.S. economy. In this system, one can start by purchasing ETH, and the supply of ETH is deflationary, or the amount decreases over time. Since it must preserve value without losing value, its "central bank" (bet) follows a sound monetary policy.
Pal noted that staking ETH is equivalent to purchasing U.S. government bonds, while decentralized finance (DeFi) can be compared to the riskier banking industry. He predicts that over time, the Ethereum economy will surpass the size of the Bitcoin economy due to its higher complexity. Pal also compared the economic conditions of XRP and Ethereum competitor (SOL) to those of their respective countries.
“On the other hand, when South Korea’s currency and stocks collapse, it will most likely be South Korea post-Asian crisis. This was an unparalleled six-year opportunity to outperform the USD and SPX. However, it has not stood the test of time. …Failed Keep up the good work. Who knows how it will turn out."
In the crypto industry, if you want to seize the next bull market opportunity, you must have a high-quality circle where everyone can come together and maintain insights. If you are just a person, looking around blankly and finding that there is no one around, it is actually very difficult to persist in this industry.
标签： #Bits #Currency #Crypto #Ether #Transactions
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