Farcaster

to date crypto has been money without economy

the magic of money is its ability to convey information that drives complex coordinated action between humans that results in things being built

money in a vacuum is the vice without the virtue and there's not much of a point behind it

crypto will find its way to the extent it starts coordinating interesting behavior that results productive output

Building @warpcast and @farcaster / dad / like to read, cook, ski, code

I don't think this is true -- USDT has been part of global economies for a while now, we just don't see it in the west because our domestic financial rails and MoE are "good enough"

I agree with the new branding of "FC is an economy", but not accurate to pitch it as the *first*

I agree in spirit, but want to be pedantic -- eurodollars for normal people is a *huge* innovation and we must not underestimate its economic impact just because it's invisible to us

But hundred percent agree -- the coordination benefits of crypto economic rails has barely been explored (because the casino was so much fun)

this wasn't intended to be a comment on Farcaster, I must have fat fingered it into the channel, but just crypto in general

and sure in the decade plus it's found some traction in the real world and there are plenty of useful niches like digital art, subscriptions, etc that have resulted in interesting things happening

but in broad brush strokes and relative to total economic output it's coordinating basically zero