Impact

the key to mainstreaming crypto is building decentralized infra

the key to building decentralized infra is funding public goods at scale

the key to funding public goods at scale is value capture

if we want to mainstream crypto we need public goods to capture value, no way around that

a system is only as strong as its weakest link, and a network is only as decentralized as its most centralized component

that's why the model of building centralized infra on top of decentralized protocols is bound to fail

the whole value proposition of blockchains is that they're decentralized & censorship resistant - that's the cypherpunk ethos

centralized systems will always have a tendency to lock users in

that's bc their business model relies on value extraction, not composability

this is no way to build "the future of finance" or "the future of the internet"

so either we build fully decentralized infra stacks, or we admit that the cypherpunk ethos is bust

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