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I tilt towards crypto skepticism, but the first round of dotcom fit that mold as well. Webvan, Kozmo, etc were just as vaporous. And 'million dollar webpage' gags feel a lot like NFTs.
Applying first-principle analysis to the early web and to crypto today yields two very different conclusions... just look at the fundamentals, not the surface BS.
Fully agree that the presence of a lot of BS does not invalidate a domain, but in reverse, just because it has *some* of the characteristics of the early web does not mean it has the *important* characteristics. The early web was *extremely useful*, in a world-changing way.
I have been continually arguing that crypto is not another internet. I agree with that. But there's a wide spectrum between the CA Gold Rush and the South Seas Bubble that it exists somewhere within.
1/2 Generally curious, from a first principle perspective, what makes you believe that crypto for payments (for example) wouldn't work? It's very apparent in my mind that utilizing a decentralized consensus mechanism to cut out middlemen makes a lot of sense in the payment space.
2/2 Value can transfer nearly instantaneously on the blockchain to anywhere in the world. The main problem is with scalability, but if you believe that problem can be solved...why not?
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