Great article.

About NFTs: we tend to think they somehow need an image to make sense, while the "own the NFT to own the image" is both wrong and just one specific use case out of many. I find it useful to think about NFTs as "internet native property titles" which do not embed "law enforcement".

See it this way: if you own a house, you own a property title which proves it. In case someone squats your house and the law enforcement does not help you get it back (e.g. due to corruption or slow legal system), it's just a useless piece of paper.

Same with NFTs. Some use cases have enforcement embedded (e.g. ENS domains) and bear no risk, some don't (OpenSea minted image NFTs) and carry some risk from centralized entities (the same risk we have in 100% of Web2 applications btw)

Enforcement often happens at the app layer, even if the NFT image can be compromised. E.g. an NFT which gives you access to a walled web page will still work even if the image is compromised.

I did the contrary. Completely wasted away my young years and money in endless world travels. Couldn't be happier of my decision. It's very subjective tough, and highly dependent on your risk tolerance.

I think going maxi is a negative rather than a positive. It's when you go too far in the journey and seek for simplicity. Crypto is a complicated and fast moving world, so it's understandable that some people become religious (as in stop accepting new evidence) and tribal. Still, it's always good trying to keep an open mind.

Modern “Bitcoin Maximalism” has similarities to religion, but I think it’s possible to independently arrive at the conclusions that there needs to be a single dominant cryptocurrency, and for various reasons Bitcoin has the best chance of being it.

And a lot of reasons it's terrible.

Front and center is the number of transactions per second it can process. It's no where near being able to handle the volume of transactions that happen around the world.

I don’t believe it’s possible to put every transaction on chain (or at least the main chain) while retaining the level of decentralization that makes cryptocurrencies interesting in the first place.

Most people believe a layered approach is necessary, and indeed, many are building L2 solutions on Bitcoin (Lightning) and other cryptocurrencies.

I think Bitcoin can and should be L1.

Clearly you haven't kept up to date with the lightning network.

The idea that any blockchain could squeeze all of the world's transactions on the system's layer one was always an absurd proposition to anyone with a basic understanding of computer science.

> but I think it’s possible to independently arrive at the conclusions that there needs to be a single dominant cryptocurrency

Why?

You can check https://collab.land/ which allows Discord users to access certain channels after proving token ownership.

Yes, I think this information hasn't sunk in yet for the majority of people.

For the reasons you enlist, I think we'll see a big shift towards working for DAOs or other forms of value creating decentralized and distributed organizations. They allow more independence, you only work on stuff you like and the interests are more aligned.

Right. Your boss is a smart contract.

We already have contractor's markets. There's a reason not everybody uses them.

That's very different

Smart contracts are neither smart nor contracts.

It's code which does stuff and if you want to be on the safer side of it, you allow time and liquidity to test them out.

If you want to assume risks and possibly higher rewards you get in early (ape, in crypto speech).

It's pretty simple.

What makes it complicated is that they are called smart contracts.

Prediction: Airbnb reverse airdrop within 5 years.

Many comments about whether there was fraud or not, the Democrats did the same or not etc...whole the while point here is: is it YouTube's role to decide what content has merit and what has not? I don't think so. It opens the door to even more abuse.

If we had several competing platforms we wouldn't be in this mess.

This is the same platform that runs obviously scammy ads of Vitalik Butherin Ethereum giveaways for months at the time. Ads, not even content. I wonder how they plan to monitor elections claims.