1/ I’m noticing a resurgence in the crypto as “money” narrative, over any other usecase. This seems to be related to what part of the cycle we are in.
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Q for you: what are historical analogies for where technological innovation has destroyed revenue / led to decrease in GDP? doesn't value capture typically rearchitect somewhere else in the stack? also Q for
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GDP is not being decreased. Only middleman/platform rent extraction is. Output/Production remains the same but the surplus is distributed directly between producer/consumer in a P2P fashion.
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Uber: $10 ride fee. $8 to Driver $2 to Uber dUber: $9 ride fee. $9 to Driver. (+ likely more rides) There is an incentive problem to build the dUber in the first place but that's a whole another topic.
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Things like Uber and Airbnb are probably not good candidates for dapps (at least not in immediate future) because customer service and trust enforced by 3rd party are a big part of the UX
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agreed. I don't even think those need to be decentralized any time soon, if at all. just used that as the easiest example solely for disintermediation illustration purposes
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I have increasingly warmed up to your thinking. I don’t think venture is the right model for crypto “businesses” which aren’t (shouldn’t?) be businesses if they do what they ideologically claim to.https://twitter.com/sarthakgh/status/1027657250670764032?s=21 …
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most decentralized apps and decentralization products will be unprofitable investments. they need to be as unprofitable as possible to be as successful as possible. creating thousands of proprietary currency is dead as a concept.
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Investments are fundamentally abt value capture. OSS are about value creation. Issue was devs couldn’t make a living & had to join cos to do whey love. Tokens could help now. But yes agree w you unless tokens are just “easy equity” for traditional startups disguised as protocols.
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nah tokens can't even help =)
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it only feels that way after the 2017 bubble which still hasn't fully deflated yet. when all alts go -95% of more you'll start questioning whether tokens can actually help "fundraising" or not :)
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Blockchains are self-sustainable systems that create value. Up until this point, technology wasn’t mature for wide use due to scalability, but we have EOS now, soon other public scalable DLTs will appear
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Only 1 or at best an extremely small number can be sustainable long-term. They are all in direct competition
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Most likely, but I have good association with countries: some countries have less developed economy and technology, but hey, there’re still people there
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Countries are physical objects, hard for everyone to move from one to another. Everyone can't go live in the same country. Cryptocurrencies are abstract digital assets where you can switch instantly. Converge to 1 big winner likely imho.
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Besides countries being physical objects, they’re communities of people with similar culture and value systems. And so will be with blockchains: they will have different values, e.g. governance, different people have different preference over how power should be distributed
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Money has tendency to converge to one, look at Gold globally in the 1880s. It's risky to be holding the less liquid, less recognizable money. The SoV component of Money is a bout anxiety-reduction so you want to hold the most saleable one. SelfSurvival > Culture/Values
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Agree that they destroy revenue but that does not mean that value cannot accrue in the chain. Value does not ONLY accrue in money.
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in the crypto realm, outside of cashflow-producing assets, it only accrues to money
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They’re also destroyers of ‘value.’ What is the purpose of anything we’re doing if we’re going to erase everything we’ve built to start over every year?https://twitter.com/realludvigart/status/1015533781040558082?s=21 …
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