I thought this was a nice twitter thread on "Bitcoin as super-collateral":
https://threadreaderapp.com/thread/1225 ... 22305.html
vincent_c, have you read 'An (Institutional) Investor’s Take on Cryptoassets'?
How do you see value accruing to smart contract platforms in the long term? In my chuck e cheese analogy, people only need chuck e cheese tokens for a brief period of time while at chuck e cheese, then immediate convert back into real money
. I see the same thing for these smart contract chains.
If I need to do something in ETH, Ill use my money (BTC) to quickly/instantly pay some ETH fees and keep the rest of my wealth in BTC, the "money" chain.
Now dont get me wrong, that doesn’t mean alts cant, in the short/medium term, have massive returns. I just dont really see why Id hold non-best money (BTC) tokens for any period of time. And that means while there is non zero demand for alt tokens, it doesn’t really command a big value for those tokens.