Thread by @cburniske

Each crypto network represents a web of people and machines, contributing their capital and labor.

You see people use Metcalfe's law here as an approximation of value, and it's directionally correct.

https://twitter.com/RaoulGMI/status/1347013610116157440?s=20

The narratives, then, are the things that pull the capital and labor into a network's orbit.

And then that capital and labor goes to work for the network and its service(s), pushing its rise amidst the chaos of global markets.

Already, winning cryptonetworks are emerging.

People will continue to be shocked at the scale these things get as their webs pull more and more capital and labor in.

There will eventually be (already are) fights between these digital webs and meatspace institutions.

Perhaps the biggest fight will be around taxes.

Those with predominantly crypto-based capital and labor eventually will rebel against paying 30-50% taxes to the meatspace institutions that don't serve them.

Following this trend to its logical conclusion, it's not so extreme to expect a proliferation of tiny nation-states where people move to co-locate, use shared infrastructure, and earn on the Internet.