brypto

notbylght on x

sauna notes: 

the existential bottleneck of crypto from my pov is that it is aware of the qualitative functions needed to embolden the quantitative infrastructure 

yet it suffers from two areas of valid concern: 

1. funding is hard to justify for things that don’t equate to metrics 1=1 (ppl have families, bills, responsibilities & there are plenty of margins you can squeeze in a utilitarian pov)

2. talent is plenty in one regard and incredibly sparse in the more meaningful sense (willing but unable, able but unwilling) 

it’s an ironic problem due to the enormous amounts of capital availability for reasonably-objective redundancies, grifts, honeypots, and clones 

doubly ironic due to the fundamental theory of the tech being cooperative, modular, and open; yet struggling comprehensively in materialization

This take was so good I had to quote cast it twice

We need a term like “schlep blindness” (https://paulgraham.com/schlep.html) for the crypto condition / the blind spot for non-speculative products — maybe “spec blindness”, but feels too on the nose 

In before @kia tells me speculation is good, actually

Pragmatism (Security) at OP Labs.
Prev: ConsenSys & Coinbase.

Attribs: Friendly, curious, introverted, mid-witted.
Chans: /eth-security /maurelian /stoicism




Broken down:

- crypto is aware of meaningful use cases needed to leverage latent infra
- but it suffers from 1) lack of funding for non-speculative use cases because they don't return money quickly 2) capital having agglomerated already in the hands of would be builders, letting them retire early / other folks in the space incapable of building long-term
- the irony is that in a capital-rich environment, we can't find the other resources
- doubly ironic because of the purported ethos of building in the open with composable / modular tools

The insight is that being resource abundant in one form (capital) came at a very real cost on other fronts (talent, purpose, etc) because that resource was poorly / unevenly distributed from the get-go

I may have read this wrong though, @lght.eth is poetic and the beauty is that you can interpret his words in multiple ways

Can you paraphrase how you read that cast and the important insight? People seem impressed but it’s just word salad to me.

i will admit 
i have no idea what OP is saying

Founder of https://jubjubapp.com/, tokenizing media ownership rights and delivering payments to support the future creator economy

It's a huge blind spot, go make a product people want with crypto integrated and bringing value.

You can't have a conversion funnel that starts after you explain central banking, fiat currency, centralized institutions.