The past week was brutal for anyone holding stocks or crypto. Everything corrected and then corrected more. 💥😵💫💥
Some voices are shouting “buy the dip” while others are predicting the beginning of “a crypto winter”.
My framework for thinking about “corrections”: 🧵👇
Shout out to our ND allies!
To those who gently support our quirks, needs and inconsistencies.
You allow our true selves to shine through beneath the chaos.
We appreciate you more than you can ever know 💜
In web3, promises to developers are baked into the system via immutable, open source code (“can’t be evil”).
This means developers can count on credible neutrality, the way they could in web1.
This will lead to a new wave of widespread, permissionless innovation.
Web2 tried to make developer commitments via promises (“don’t be evil”).
This didn’t work, as we’ve seen over the years. Web2 platforms routinely deprecate APIs and change terms of service with little regard for third-party developers.
Developers want to know they are building on a credibly neutral platform where the rules won’t change.
Web1 protocols like HTTP and SMTP did this very well, leading to an explosion of innovation.
My Ukrainian credit cards don't work anymore. I'm safe physically in Kazakhstan, but all my savings are gone.
Crypto is the only money I still have, and today I can say without exaggeration that $BTC, $ETH, and #NFT are going to save my life while I can't come back home.
BREAKING: President @nayibbukele just announced that El Salvador has officially bought their first 200 bitcoin.
This is the first known nation state to purchase bitcoin.