Thread by @0xJim

1/ been meaning to type up my thoughts from @EthCC but its so convoluted so i've been pushing it off

but now its getting to the point of irrelevancy lol, so im just going to post them ad-hoc & unorganized

biggest takeaway is ive gone even DEEPER down the crypto rabbit hole

2/ ive always thought there are stages of people's realization of what crypto was, changing as they went deeper down the rabbit hole:

1. crypto is an asset to flip for $
2. tech to hold and send money easily
3. a platform to build anything
4. a movement of decentralization

3/ at each stage, people's infatuation with crypto grew deeper

soon it became less about the money and more about the utility, then less about the utility and more about the ethos and vision

and lastly on stage 4, it became about the people and the community

4/ at ethcc I had the chance to watch @owocki's talk about coordination + i got to speak with a lot of @TheDAOist_ attendees about the ideas he brought up

and a lightbulb went off: there was a stage 5

crypto is all about coordination

5/ crypto was never just about money

it was about removing the notion of having to TRUST other people in order to coordination and collaboration - even in something as high stakes as moving money

Vitalik solidified this idea for me in the first slide of his ethcc talk

6/ Ethereum has always been about TRUST MINIMIZATION and EXPERIMENTATION of new ways of - literally - everything

Crypto has been one large experiment of coordination; one big question of "what systems can we design with a built-in economic layer that doesn't rely on trust?"

7/ When I put this idea together, I realized that all the amazing things that are happening in crypto makes sense

It makes sense why DeFi protocols are rivaling their Web2 counterparts with a superior product + orders of magnitude of less staff

https://twitter.com/0xJim/status/1402027498876121109?s=20

8/ It makes sense why thousands of online strangers can come together for a common cause in a DAO, or why anons can deploy millions of dollars of capital w/o hierarchy or govt controls

despite what human sociology tells us we can't do (h/t @owocki for the slide from his prezzie)

9/ it's because of crypto's built-in economic layer

a subtle way to making the extrinsic, intrinsic

i WANT to volunteer for this cause, i WANT to discuss a governance proposal for hours with complete strangers

because i get PAID to do so, but not from any central party

10/ that's why DAOs are so amazing and fun. you turn your hobby/interest into a community of motivated frens

that's why NFTs are so beautiful. you can directly pay an artist, and share the art with a community in a digitally native way

its all coordination

11/ guys - this framing has only HEIGHTENED my passion for this space, if that were even possible

we can solve the huge problems with this new coordination tool:
+ tragedy of the commons like global warming
+ funding public goods through retro funding

https://twitter.com/VitalikButerin/status/1417500293563142151

12/ can we encourage people to donate more? not litter? having more high quality discussions with people on the internet?

and most importantly, can we do it from the bottom-up, grassroots through financialization?

i think so. now's the time to build

/end