Investing in early startups is people & idea driven. Investing in early crypto is engineering & code driven. People good at the former, usually not good at the latter.
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Replying to @APompliano
There are ideas in crypto in a major way, do you forget one of the key aspects of Bitcoins innovation was in Economics?
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Replying to @Ahimsa_Satya_
People have been doing what is now known as cryptoeconomics for a long time with digital goods, points, streaks, etc. The execution and code is the true innovation, not the idea IMO
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Replying to @APompliano
Ah yes that makes sense. I’ve been looking at it as we are using these new tools from cryptography and computer science to solve a few problems in economics we have, namely currency debasement. It’s also sort of a “natural experiment” in Austrian economics
12:22 PM - 10 Dec 2017
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