… do have problem with people who come with superficial arguments and are lazy about their analysis. We had people (including very smart) dismissing the internet in the early days, dismissing social networks (i still have the scars on me for being an early supporter of Twitter), dismissing the iPhone (Right Steve Ballmer?), dismissing Mobile apps. And we do have people dismissing cryptos. That’s what happens in innovation Cycles. They all share a common pattern: the inability to look beyond the immediacy of the current paradigm and a resistance to change.
… no one had a computers. Today everyone is connected and potentially at 2 taps from owning cryptos. The world has never been more apt and mature to adopt a new paradigm shift. And that’s precisely why the adoption curve happens now at an unprecedented speed.
…e. Soon enough governments and banks adopted it a reference to define and guarantee value to money. The reason Gold has value is because a group of people believed based on the scarcity of this asset (and other properties like durability) that this was good enough as a story.
…ls themselves, which, as a kicker, are given monetary value directly by other people in the market. So hypothetically some company may raise funding from traditional VCs and then launch an ICO in which they sell 10% of a token for $100m (valuing the currency at $1.0B). When it comes time for the VCs to distribute capital to their LPs, how do they price that huge capital infusion into the company?