, 9 tweets, 3 min read Read on Twitter
1/ Given the governance battles we currently see everywhere, winning #cryptonetworks may emerge by merely persisting through "wars of attrition."
2/ If true, we currently focus too much on present-day dominance, underweighting a cryptonetwork's ability to deftly navigate the future.
3/ In the words of @Shaughnessy119, being able to deftly navigate the future allows a cryptonetwork's "tech to compound without fracturing."
4/ We first saw it with #Bitcoin, but have seen it with nearly every cryptonetwork that's gotten to scale since -- at a certain size, governance problems arise.
5/ The exception to "at a certain size, governance problems arise" may be networks like @decredproject that initially focus on nailing governance.
6/ Messy problems are easiest to navigate in small groups.
7/ If governance is the messiest problem a cryptonetwork will face, my hunch is it's best to iterate towards a "steady-state-model" when small rather than when at scale.
8/ While some argue focusing on "decentralized governance" slows down early progress, on the flip side as things get bigger there are clear norms about how decisions are made + integrated, allowing execution to continue humming along.
9/ It's important to continue humming at scale, becauase as a #cryptonetwork grows the knives come out (either internally or externally). If you haven't taught people table manners from the outset, then there will inevitably be a knife fight.
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