In China right now & its hard to get on Twitter but.....holy shit. For how much we talk about cryptoassets as a global asset, it certainly does not feel that way. This is basically a parallel crypto universe with little/ no bridge in between. 1/
We think of Coinbase as this gigantic institution (and don’t get me wrong, it’s a huge company), but it would barely make top 5 here in China between Bitmain, Huobi, OkEx & (formerly) Binance. These are all crypto companies w around or more than 1,000 people— in ONE country. 2/
Relatedly: the sheer power of human capital is fucking incredible. China can win on that alone. 3/
We all live on Twitter/ Medium/ Podcasts/ Telegram but they are almost all entirely echo chambers for western-focused observations and thoughts. The entire China ecosystem lives in WeChat, which almost no one in outside of China ever uses. 4/
China has 20% of the world’s population- it’s potential and impact in the crypto ecosystem is frankly impossible to ignore in the long term. 5/
I don’t even mean to sound like a gushing & ignorant fool— I grew up in China and can generally navigate both the language and culture but I am just realizing the extent of the bubble I’ve been in within the crypto space. 6/
I could tweet about this for days but I will leave it with this: if you want to build in the crypto space and believe in it as a global asset class, PLEASE go to China, talk to people, and see what it’s like here. Then pls reach out & discuss w me 🙏🏻😱 7/end. Cc @twobitidiot
