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.
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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 -
Replying to @sarthakgh @AriannaSimpson
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.
1 reply 1 retweet 6 likes -
Replying to @MustStopMurad @AriannaSimpson
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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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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