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I think it might help if you look at it in a slightly different way. While yes, crypto investors can capture the value of the network growth, this isn't the imp
by _9omd 5y ago
I think it might help if you look at it in a slightly different way. While yes, crypto investors can capture the value of the network growth, this isn't the important point. Crypto protocols are fundamentally value storage and transfer protocols. So I think it's useful to draw a parallel between the protocols you listed above and the internet, which are all used for the storage and transfer of data. The internet/web was an immense success because it freed data from it's shackles, and allowed a more free and efficient flow of information. This allowed everyday users to publish information, apps, etc. and innovation to flourish.
So crypto is doing the same for value/money. It's freeing it from the institutions (banks, governments, etc.) and allowing it to flow more freely and efficiently. This is why some people call it the internet of value/money. So, if you believe that freedom allows innovation to flourish, you should see this as a very powerful thing that could eventually be the backend of the entire financial system, just as TCP and other protocols are the backbone of the internet. It allows innovation to flourish at the edges, because we have stable monetary protocols that are open to anyone. A hacker in their basement can now build financial applications, or a group can coordinate in new ways through DAOs, or someone can just store value that isn't tied to any government.