Big Picture Crypto Thoughts
Amid all the short-termism in the crypto space (especially during bearish times), it’s nice to keep the big picture in mind. Here are some of my favorite quotes on the long-term potential of crypto…
There are 3 eras of currency: Commodity based, politically based, and now, math based. — Chris Dixon
Bitcoin will do to banks what email did to the postal industry. — Rick Falkvinge
Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly. — Vitalik Buterin
Think of it like desktop banking. In the way desktop printing, desktop publishing and websites changed communications, desktop banking — individually controlled banking with all of the power of the largest bank in the world — will create disruption. — Andreas Antonopoulos
Tulips are not durable, not scarce, not programmable, not fungible, not verifiable, not divisible and hard to transfer… but tell me more about your analogy. — Naval Ravikant
This innovation is like transistors, microprocessors, linux and the web in that it collapses the production costs of technology by using open source alternatives. In this case, crypto collapses the cost of building and scaling information networks by replacing centralized coordination with universal financial incentives. — Chris Burniske & Joel Monegro
Bitcoin gives us, for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer. The consequences of this breakthrough are hard to overstate.— Marc Andreesen
There are 2 billion people who have no bank accounts at all. There are another 4 billion people who have very limited access to banking. Banking without international currencies, banking without international markets, banking without liquidity. Bitcoin isn’t about the 1 billion. Bitcoin is all about the other 6 1/2. The people who are currently cut off from international banking. What do you think happens when you suddenly are able to turn a simple text-messaging phone in the middle of a rural area in Nigeria, connected to a solar panel, into a bank terminal? Into a Western Union remittance terminal? Into an international loan-origination system? A stock market? An IPO engine? At first, nothing, but give it a few years. —Andreas Antonopoulos
The monopolistic control of currency is the basis of sovereignty. Now, the internet has a currency. The internet is going to use that currency to create sovereignty. After 2008, currency creates sovereignty. The internet has its own currency, which means that the internet has purchasing power. Which means the internet has economic freedom. Which means the internet can exert that economic freedom in a post-nationalist way, in a way that ignores borders and makes the nation-state not obsolete, but simply less relevant. —Andreas Antonopoulos
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