manansh ❄️ on Warpcast

manansh ❄️ pfp

What would you say to a person that thinks that crypto products (stuff built on the networks themselves) are solutions seeking a problem? I had an incredibly spirited discussion with a non crypto friend of mine and was low key struggling to defend crypto enabled products. Help?

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Nathan Snell pfp

Many are, or many are seeking a growing problem space. Email at one point was communication in seek of a problem. Social media was in seek of a problem. Usually is how painful of a problem can be found, and how big/fast growing an oppty it is. Disruptive is a toy until it isn’t.

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Sean McCann pfp

Frankly, most crypto products are solutions in search of a problem. That doesn’t discount the opportunity for the technology long term.

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nicole pfp

I usually talk about the GameStop short squeeze and how hedge funds control all market liquidity and can shut down retail trading to protect their interests, and then explain AMMs. Or how people in countries with corrupt governments and no stable currency benefit from stablecoins

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Eli pfp

talk about enterprise... jk don't have a great answer but I think this clip from 1995 is worth looking back on (start from 3:08) https://youtu.be/fs-YpQj88ew?t=188

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Ed O'Shaughnessy pfp

Ed O'Shaughnessy

I think this is a good thing. It's creating the future. If it was already here it wouldn't be the future but the past.

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Ben 🟪 pfp

I'd say they’re right. On the individual level, many current web3-based dApps are products in search of a need. But to discount the macro trends towards a new internet, because the current products testing, learning, and evolving are incomplete, would be short-sighted.

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Ben 🟪 pfp

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Wilson Cusack pfp

First people wanted money with no centralized control. Then people wanted to do things with that money: borrow, lend, trade, etc. If they do not understand the need for non-centralized money, then it looks like solutions seeking a problem.

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Miguel Cores pfp

Well tell that person 3 things: 1. that the biggest markets in the world are money markets and derivatives (betting included) (>>$500T estimated) 2. These are owned and controlled by the great minority of people 3. Crypto products will enable to distribute this wealth fairly

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Rahul pfp

I'd say the problems already exist, lack of transparency in our large global financial system, censorship by governments, suppression of freedom and speech in most countries, big tech monopolization resulting in all sort of terrible things

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