Nick Szabo  🔑

As the $/knowledge ratio increases, there’s more incentive for knowledge to catch up, which is a plus for adoption of crypto. Thoughts?

That depends on if the $ gets burned before they can aquire the knowledge. If people get burned because of their lack of knowledge, I think it will hold the industry back.

Good point. The larger the $/knowledge ratio, the more likely a large downturn. So it’s better for corrections to occur to reset the $/knowledge ratio to healthy levels in order to sustain long term knowledge acquisition.

The way I think of it is that people have just jumped in and made a return despite not understanding the fundamentals. Many have replaced facts with their own narrative (under attributing luck). When the bear comes to kick their teeth in, people will go back and learn.

I suspect that the majority of people who care about learning would be doing so now. Those who jumped in with no knowledge will probably be the people to call cryptocurrency a Ponzi scheme if they get burned.

"the influx of new users from AOL did not end, and Usenet's existing culture did not have the capacity to integrate the sheer number of new users.." https://en.m.wikipedia.org/wiki/Eternal_September …

Interesting post. As a VR enthusiast, I recall this being raised about this time last year and VR certainly experienced some of this effect, but I’d argue that it’s a necessary phase before widespread adoption of a technology, and it shows that early adopters have paved the way.

Exactly. We are transitioning past early adopter phase.