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YB
@yb
Day 3: Crypto vs Internet growth I was listening to the /moz episode with @barmstrong this week and found one section that surprised me a bit. Dan asked Brian what north star he thinks accurately measures economic freedom (Coinbase's mission). In my head I just defaulted to # of crypto DAUs. Instead, Brian went full Collison brothers mode and said: "% of global GDP that runs on crypto rails" He then mentioned something that caught me off guard...today only 20% of GDP is done over the internet! And even that number only recently grew a ton because of covid; before 2020, it was closer to the 10-15% range. How is crypto doing relatively? It's too early to make any GDP comparisons...even the internet was at less than 1% back in 2000 It's worth noting that it only took 4 years for the internet to go from 500m to 1b users. My guess is that something similar will happen for crypto (s-curve growth). It seems likely that stablecoin payments will be the answer here to quickly onboard the next 500 million users.
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@baseddesigner.eth
internet was essential though for people to communicate over the globe crypto is only essential in places where payments are restricted over web2 channels to grow crypto the way internet did, we need to elect Kamala
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YB
@yb
I think we only see it as essential in hindsight, people were communicating before as well. Lmao wdym by the Kamala? Not seeing the link there
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