Thread by @RaoulGMI

I'm finding it fascinating to see traditional finance and business people first trying to get their heads around BTC, then other crypto protocols, then Defi and now NFT's. 1/

At every singe stage in the rapidly evolving ecosystem they have used mean-revertionist thinking as opposed to exponential network effects analysis and therefore everything looks like a bubble or a misallocation of capital.

This is how we were all taught in finance.

With that thinking almost everything reverts to a mean of zero ("it is just Beanie Babies!"). But that misses the fact that even if some, or many project fail, many others are truly building network effects over time

And that can include 90% S-curve downside in price, but the exponential curve of those that DO survive drives them to new heights over time.

As thousands of projects, all pushing boundaries, go through he same survive-or-die and then network effects, the entire ecosystem rises.

Then add in the reluctance to want to believe that the Metaverse is a real thing - that our digital existence and physical existence are blurring and combining.

People fear change in general, so push back but over time the change gains trust and acceptance.

Much like with the PC and the internet, cynicism gives way to optimism as people understand the change will benefit them.

As the internet of value and trust accelerates, it is going to destroy more large old business models than maybe the internet itself.

I know this sounds grandiose and hyperbolic, but the TAM of the transfer, storage, accretion of value is the largest and most valuable on earth.

And with a prize like that, the digital asset revolution has more than enough incentive to adapt, thrive and survive in ways we yet cant imagine

And the best thing about this revolution, unlike the internet, is we all get to financially participate, with no barriers.

This space will not be a $1.7trn ecosystem as it is today but a multi-hundred trillion dollar ecosystem eventually.

You can embrace change or fight it, but you owe it to yourself to understand it as the pace of innovation is going exponential too...