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I think Moore's Law happening after the initial commercialization of ICs is instructive. Whereas say blockchains having decrease transaction costs/latency or network size may not really mean anything when we have yet to see a single successful commercial use case.
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commercial is the wrong level of expectations... a more accurate critique would be, we have yet to see a single successful virtual country or even a DAO doing something other than trading and NFT collecting it's a political technology more than a commercial one
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the most successful political application so far is probably venezuela underground economy next is chinese capital flight actual crypto native startups etc. will come when layers above the political stabilize.. it's political entrepreneurship town now
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Re: Political Tech: That's at least the scene's ideology, but I think it's likely closer to BitTorrent, a brief period of skirting the laws, followed by legit businesses better executing the core business cases. When I said "commercial", I meant not illegal.
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It's going to be interesting to see if the money transfer aspects of it are durable when regulation/tech catches up. Seems like US / China are probably going to be pretty good at enforcement, but the Venezuelas may still be able to buy services to do so as well.
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I was thinking about Musk's Starlink and similar systems as another one of these. Russia seemingly can't jam it, and it's causing some actual political issues, but unsure how hard it would be to maintain long term. Imagine is they set this up over China...
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Why can no crypto person ever give a straight answer to the use case question? Doesn't seem that hard for anything else, which seems to imply it's a naive cult. I've not been surprised by anything thus far with crypto. Any link to a good explanation?
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What do you think a good question at this stage is? Any interesting answers? I'm not trying to be snarky. I've talked with a lot of major/OG crypto people, and they've never had good answers for me either, which is why I'm so skeptical.
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