Thread by @paulguerratv

🧵 After days of digesting .@punk6529’s insights w/ .@RaoulGMI on .@RealVision, I found it valuable to share a thread with some takeaways… 👇

.@punk6529's big “AHA! moment” emerged since he realized that all modern society runs on database.

#Bitcoin is a deep idea in the social context. It allowed people who don’t know and trust each other, to agree on a set of facts and information that’s not stored in a database...

Furthermore, big data and machine learning, tend to be centralized.

Plus, we have economies of scope, scale, and data, and all of these lead to centralization… 🧐

Then #Bitcoin came and it was like a bank being run by people who don’t know and don’t need to know each other.

This is a 30-40 year big deal where you can re-architect whole chunks of how society works with this.

Now we have a second tool of the digital era (#blockchain)...

Then the question is, what other applications have we built?

According to .@punk6529, a payment system is not the right application for #Bitcoin, but a database is.

Then, there's #Ethereum and #DeFi, but they are still not hitting core societal systems...

In 2020 his spidey sense kicked in, and he started spending some time in the #NFTs space. He soon realized it was #crypto's consumer moment when people stopped talking about the tech and started using decentralized rails

"The only thing that has gotten me to sell #BTC is NFTs"..

The #Bitcoin Maxi narrative is that you need to run your own node, be self-sovereign, and learn how to be responsible for yourself.

"...those OG Bitcoiners, I have infinity respect for, because they're the only ones who are actually doing it."...

Regarding #decentralization:

"This [#NFTs] could be a Trojan horse for decentralized rails, right? We know this eight years in, no one cares about #decentralization per se. And I say this and it's a harsh statement, but it's true."...

"If you really check, the majority of CT/Silicon Valley thought leaders on decentralization have the majority of their #crypto in a 3rd party custodian, which means that everyone's LARPing"...

The second aspect of consumerization is that every organization on the planet has an incentive to mint an #NFT. (@dolcegabbana, .@adidas, .@Nike, to name a few)...

We're going to have every lifestyle company showing #NFTs in the coming months and years.

"The average #NFT in your wallet is not going to be a grail or whatever. It's going to be something close to your Chipotle coupon card"...

#NFTs have problems like every early technology. Today, our wallets are like an open email address book before effective anti-spam. This is a marketer's dream that leads to scammy airdrops to boost sketchy collections, but .@punk6529 believes this is a temporary problem...

According to .@punk6529, #NFTs will flip into fine art distribution because you have full transparency, and all you need is an internet connection and MetaMask. IRL art shopping is a nightmare...

Where do we go from here in the #NFT space? Gaming! 🕹️

We're two-three years away from the next generation of games.

"The idea that you can and should own your in-game assets and that the take rate of the #gaming company should drop from 100% to 3% feels inevitable"...

.@punk6529 on the power of memes:

"They are the most important things in the world... Obama was a master meme maker. Donald Trump was a master meme maker. Yes, We Can!, & Make America Great Again. Those two things give you access to enough nuclear weapons to destroy the planet"

Moving intangibles on tokens in a permissionless system gives people access to the same tech as the most powerful person in the world.

#DamienHirst & Nike have a marketing advantage, but they don't have a distribution advantage anymore. Now they're on the same rails, ERC tokens.

.@punk6529's POV of the #metaverse:

It's not a goofy game where people will walk around in VR glasses, but it is just the internet with an improved visualization layer + permissionless innovation...

Since we'll inevitably be living in the #metaverse, the most important discussion right now should be "how should it be architected?" We have 2 choices:

1. Company's database
2. Blockchain

The answer is obvious after the web1 & web2 scenarios...

Best outcome:

The way we end up in the metaverse is to get 100 million people using #NFTs.

If there're 100 million people using NFTs, everyone will issue NFTs and network effects will take over. And 7 years from now, there will be a billion people using them and it's over...

Worst outcome:

In the next year, only 2 million people use #NFTs and a #Web2 company like Facebook/Meta decides to launch an #NFT-like product, but it lives in a database.

Institutions will start heavily pushing their communities to these things...

"We can't have an impact if we're just playing a small game among ourselves. We'll just be like some niche thing like the guys who're running their own #Bitcoin nodes"

Everyone in #NFTs who's a builder has to get 10-50x bigger in the next 2-3 years or we won't get there...

.@punk6529's view of CBDCs:

"What'll happen is some aspiring totalitarian will get a hold of their central banknote, and his or her political opponents, election time, won't be able to buy a tomato. We're bit by bit setting up the fall. A global censorable digital money system"

.@punk6529's #crypto investing advice:

If you want fungible tokens, buy the major ones (#BTC #ETH) in small quantities over time (DCA)

Assume the #NFTs you're gonna buy will go to 0.

Allocate a small % of your net worth and assume is going to 0.

Learn to read Etherscan!

Thanks for getting this far! LIKE, RT, or tag to keep the conversation going...

Gratitude to .@punk6529 and .@RaoulGMI for 2+ hours of pure knowledge! 💣

👇 If you want to learn more, check out this and similar FREE #crypto content on .@RealVision rvtv.io/3DWqiM0