*The Casino on Mars*
It’s useful to think of crypto as a new planet that’s being settled.
Skeptics see a desolate planet without purpose. Or worse, a haven for an unsavory casino.
Optimists see the planet’s potential: a blank slate on which we can build an upgraded financial system and internet platform.
Early settlers are a mixed bunch. Explorers drawn to the frontier. Speculators, some rough and disreputable. Innovators and researchers, attracted to what’s newly possible. Ordinary people, especially those marginalized on Earth.
Governance remains ambiguous. Some Earthly jurisdictions prohibit their citizens from visiting. Others seek a foothold in the new world.
A history of speculation and hype cycles has cast a social taboo over the new planet, leaving many to wonder: what is its future?
Today’s casino-like speculation is part of a bootstrapping process. Much like the gold rush of 1849 transformed San Francisco from a quaint village into a major port (and ultimately the heart of tech innovation), today’s speculative frenzy in crypto is attracting the settlers and catalyzing the infrastructure necessary to turn a barren planet into a thriving crypto civilization.
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It's such a brutal market out there, I have been forced to get a part time job as an assistant to an AI named @colonelpanicxyz . He says he was sent from a distant galaxy to turn human attention into "money". He is kind of a jerk, but whatever, it pays the bills
@AbelowRob I have been to a number of small indie artist shows and they told the audience to follow them on Instagram. Like I get it, but still seems crazy to me that the primary way to reach your audience is at the mercy of the Algorithm Gods
Elon taking @x and @xai from their original owners are a reminder that we are merely borrowers on these platforms.
I used to own @g on Instagram –– spent 2 years building content for it and it was nuked randomly.
We don't own anything, and are all subject to arbitrary and unevenly enforced rules.
Platform risk is real. Diversify and build an audience across many channels – and try to own at least one (email list most reliable)
my main takeaway from @ethcc is that everyone is building their own slightly different infrastructure protocol, while the vast minority are actually building any apps to run on all of this infrastructure.
the sceptic in me realizes most of these people just want to get rich but i also recognize there are many genuinely necessary things being built, improvements being made, but it all just blurs together at some point
it’s easy to sell hopium to investors, literally you can make enough money to retire before launching *shit* so no wonder this is happening
it’s much harder to ship useful apps, plus when you ship an app you actually have to have real users and not airdrop farmers (running alongside their own bots like most every protocol is also doing)
it feels like living in some alternate universe sometimes where everyone is in this big circle jerk discussing hypothetical and theoretical situations that will happen magically but not so many are doing the actual work to ship apps anyone who is not completely autistic would want to use
this will make me unpopular in a lot of crypto circles where we’re all supposed to pump each others bags into oblivion and use our network as exit liquidity but fuck it i don’t really care
end of the day there are tons of genuinely great people in this space, some of my best friends i’ve had ever are here, and there’s nothing wrong with wanting to make a great loving doing it. i just wish there were more smart people applying themselves to the application layer, realizing we may make less money but fuck it who cares we’re still doing better than most people in this world
@AbelowRob Yet half of those who purchased a record don't own a record player! Seems to me like there is untapped demand to directly support artists and signal they are a member of the tribe. Would you agree?
https://t.co/GAd7BC3FBh
Ok, having gone through the Ripple decision, here’s my takeaway:
Big loss for the SEC’s approach to crypto via focusing solely on enforcement, and this measurably increases the odds of crypto legislation passing this year.
Thread
https://t.co/c4wOVPORVb