Aman Dhesi
@aman
So many crypto companies are building 100% commodity open source technology with no clear business model. Funded by a glut of VC $$ chasing hot narratives funded by LPs with nowhere else to invest thanks to the money printer going brrrr. What happens when the money dries up? Does it all come crashing down?
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Tayyab - d/acc
@tayyab
Yes. Open source does have a known business model, see Red Hat. But, it’s time for crypto to go back to its roots. Open source, open state, tokens to distribute value and gain traction. Provide utility by network. There will be closed-source convenience layers. And I think that’s ok.
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Aman Dhesi
@aman
Generally traction = speculation, in a zero interest rate environment that works because numba go up. Products and services that people would pay for remain scarce
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timdaub
@timdaub.eth
this is pretty reductionist. A decade long people have said that crypto is an inflation hedge and a hedge against the incompetence of the central banks. And now that this pivotal moment has come, because there isn‘t a lot of money re-invested, it won‘t work anymore? I think DeFi and namespaces will drive ETH revenu
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Tayyab - d/acc
@tayyab
ETH revenue for who? The protocols/projects or the chain itself? I think the crypto is an inflation hedge theory is more complex than black and white. Maybe without crypto all the free money wouldn’t have had a place to go and would have resulted in inflation, we don’t know.
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