Thread by @DinchThe

Now that #Permissionless2022 is over, I want to share a quick thread with some thoughts & highlights. Thoughts first: It was energizing & full of creative, positive vibes. How refreshing to take the focus off price and hear from founders, creators, developers and thought leaders.

The amazingly talented individuals I heard from and spent time with reenforced what many of us already know: that the pace of innovation in #crypto and #blockchaintechnology will only continue to build on its momentum.

An economic downturn (e.g.a long bear market or even a recession) will provide the quiet time to get down to business & focus on building the “product,” something this industry feels ready for. A heartfelt thank you to the teams at @Blockworks_ & @BanklessHQ for the event.

Highlights:
1. @cdixon reminded us of the parallels to the internet. In the early 2000s people felt there would never be enough demand for all the infrastructure (broadband) that had been built. Infrastructure is now being built out for crypto. Demand will follow.

2. #web3 aims to remove intermediaries and allow users to trustlessly learn about each other. @AaveAave @StaniKulechov stole the show here by not only having the best “merch," but also announcing the launch of @LensProtocol

Lens is a #blockchain based decentralized social media protocol building for a richer experience with better data, owned by users empowered with social graph portability. I am excited for this and can’t wait to claim my profile.

3. An excellent and timely discussion on #stablecoins with leaders from @MakerDAO, @circlepay, @fraxfinance, @Visa, & @nic__carter. Takeaways: #ust was an epic failure that will open regulatory eyes.

However, #decentralized stablecoins have an important role to play that is unlikely to be filled by a central bank digital currency. The market will ultimately decide whether these stablecoins need to be overcollateralized ($DAI), majority collateralized ($Frax) or other.

4. @RobinhoodApp CEO @vladtenev announced the roll out of non-custodial crypto wallets. This is a big potential unlock to drive users to the space.

5. Crypto is not as fragile as in previous cycles. Fundamentals are strong and companies that successfully raised money during the bull market are well capitalized.

6. @JoshuaRosenthal's presentation on the Crypto Renaissance was an eye-opening walk through a historical period with many parallels. In his words, it is raining prior to an epic transformation, “plant your🌳."

7. Eric Peters of One River Digital Asset Management recounted purchasing $750m of BTC in November 2020 including 100m on Thanksgiving day. The largest ever institutional purchase at the time helping push the industry and @coinbase forward.

8. Gaming will be the next major unlock bringing users to the space. There are 1.5bn people with an internet connection who make less than $5 a day. Web3 and #GameFi may offer these people a brighter future.

9. Renown #ethereum researcher @drakefjustin indicated the merge to Ethereum 2.0 is likely by August before the next “difficulty bomb.” An eagerly anticipated catalyst.

10. Was fantastic to briefly meet @TrustlessState & @RyanSAdams who finally met IRL after 300+ pods and spend time with friends and fellow investors. @305cryptolawyer @SpartanBlack_1 and many others.