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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Replying to @AriannaSimpson
Blockchains don't create revenues, they destroy revenues. There is only 1 exception. SoV. Which itself feeds off of other non-crypto SoVs in the world in a near-zero-sum manner. In the crypto space, Value only accrues to Money.
5 replies 13 retweets 52 likes -
Replying to @MustStopMurad @AriannaSimpson
Sar Haribhakti Retweeted Sar Haribhakti
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 …
Sar Haribhakti added,
Sar Haribhakti @sarthakgh"Blockchains destroy rent-seeking & disintermediate middlemen." "Thats incredible!" "Yea, our VC fund just invested in decentralized protocols in content, music and video." "Why?" "Why not? Innovation!" "Arent you supposed to invest in cos that can exit for 10x" "Tokens!"Show this thread2 replies 1 retweet 1 like -
Sar Haribhakti Retweeted Sar Haribhakti
tokens could be a compelling funding mechanism to grow & maintain OSS but “fat protocol thesis” has now led to hundreds of them so picking the right ones is very challenging for devs now.https://twitter.com/sarthakgh/status/1027701457351454720?s=21 …
Sar Haribhakti added,
Sar Haribhakti @sarthakghIncreasingly think that decentralized protocols are not venture friendly. If intentions are pure, protocols are the new SMTPs & should be treated as much. OTHOH, venture backed clients are possible. See GitHub, SuperHuman, Tweetdeck. Fat protocols on fat money make sense. https://twitter.com/sarthakgh/status/1027655525423403008 …1 reply 0 retweets 1 like -
Replying to @sarthakgh @AriannaSimpson
i'll take it one step further. they can't even work as a funding mechanism simply because (with extremely few exceptions) they don't accrue any value at all.
1 reply 0 retweets 2 likes -
Replying to @MustStopMurad @AriannaSimpson
well you don’t need them to accrue value after issuers get their money & investors enrich themselves by flipping :)
2 replies 0 retweets 1 like
that’s not gonna last
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