I'm hugely optimistic about the market for "proof-of-application" cryptocurrency since it's also the next step in "race to the bottom" - make use of the spare r

I'm hugely optimistic about the market for "proof-of-application" cryptocurrency since it's also the next step in "race to the bottom" - make use of the spare resources of all our commodity electronics and eliminate a centralized authority simultaneously. We've had plenty of peer-to-peer systems, but the incentives are mostly wrong to make them scale up past the niches of the black market and political radicals.