1/ I’m in #Crypto because I believe it’s an incredible, uniting force for good, and our best chance to solve problems that otherwise seem to rip our society apart. This past week reinforces my belief.
2/ We're just starting to see its ability to unite across party lines. Not just to strike a “deal” (like in the infra bill generally), but uniting in belief that #Crypto is a powerful force for good.
3/ Several Senators showed great courage @RonWyden @SenToomey @CynthiaMLummis and were joined by @senrobportman @MarkWarner @SenatorSinema @ossoff and @tedcruz
4/ Uniting across party lines continued on twitter. @novogratz I saw you support @tedcruz!
https://twitter.com/novogratz/status/1424637285761523715?s=20.
5/ The trend of unifying across party lines will continue and accelerate. Crypto is a stronger uniting force than current party lines, especially as we continue to #Buidl our vision.
6/ Democrats and Republicans will increasingly come together on #Crypto:
7/ Many Democrats are trying to solve big problems that require collective action; many Republicans want to solve the same problems, but object to doing so through coercive collective action by the government.
8/ #Crypto is special. It has, and will, let us dramatically scale the ability of people to coordinate and cooperate to solve massive problems. And it will do so via constructs that are fundamentally consensual (not coercive).
9/ Before #Crypto , large scale coordination required one or more central intermediaries with some type of controlling market power. These controlling operators could be tech companies, government agencies, etc.
10/ These controlling operators generally extract more value than they add via various costs: eg, taxes, fees, user lock-in and high switching costs, higher prices, and the presence of single points of failure, censorship risk, barriers to innovation, and reduced privacy.
11/ Worse, these systems generally aren’t suited to evolve effectively in ways to solve big, public problems. When solving big problems, you never get it “right” at first, if ever. You have to continually iterate and evolve.
12/ But with pre-#Crypto systems, companies evolve to maximize shareholder value, and government programs evolve through messy processes that often elevate political virtue over all else (like we've been witnessing over the last week).
13/ While both systems may work for some problems, they don’t necessarily for the biggest, most enduring and public problems. Crypto is a uniquely liberty- and consent-based, collective action machine. This will become increasingly apparent to everyone.
14/ FUD will come, but we will build faster and achieve more. The skeptics will convert or become increasingly irrelevant as #Crypto as a force for good spreads to more and more people.
15/ I’m busy #buidling so I can’t write as much as I'd like, but, in the meantime, here are some resources for people who are newer to #Crypto and want to start learning more:
16/ This is a good article on the “economics of blockchain” and how it can enable greater coordination and cooperation, by @ccatalini and @joshgans cacm.acm.org/magazines/2020…
17/ @twobitidiot is a great follow and just shared a perspective similar to what I'm sharing here:
https://twitter.com/twobitidiot/status/1424802580937445377?s=20
18/ @VitalikButerin is the original visionary behind #ETH, which is powering so much of the innovation in #Crypto as a base cooperation and settlement layer.
19/ @ethereumJoseph (my boss) has devoted his life and countless $$ to giving myself and so many others a chance at making the vision I'm describing here a reality.
20/ There are many great “DeFi” visionaries, and I enjoy the takes from @haydenzadams @StaniKulechov @RuneKek, along with my colleagues @LexSokolin and @corbpage
/21 @danfinlay (another colleague) and @tayvano_ are second-to-none on empowering and keeping people safe with non-custodial #Crypto, which is a key aspect of realizing our vision.
/22 On legal and policy matters, some of the best follows include my colleagues @MattCorva @BillHughesDC as well as @NYcryptolawyer @jerrybrito @valkenburgh @jchervinsky @awrigh01 @colleenklein @dcsilver @lex_node and @RonwHammond
/24 There are many more great follows, and I’m sure I’m missing ppl -- sorry! Feel free to add more resources for the new folks below. Now, onward and upward!
Ah shoot, and @CaitlinLong_!
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