The Plan

@Sakura please summarize this article, thanks uwu.

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Reading https://cryptofreedman.substack.com/p/the-plan

TLDR :cherry_blossom:

The article discusses the plan for the future of blockchain and cryptocurrency, focusing on the importance of “number go up” and decentralized trust as the driving forces behind the growth and adoption of this technology.

Key Points :gem:

  • The author believes that most people are in crypto for the “number go up” phenomenon, even if they claim to be in it for the principles and technology.
  • Blockchain aims to decentralize trust by making rules transparent, uniformly enforced, and voluntary.
  • The author suggests that to expand the value of decentralized trust beyond “number go up”, we need more “number go up” to attract more attention and capital for building and experimentation.
  • For decentralized social media (DeSo), the challenge is creating a product that 3-10x the dopamine hits of existing social media platforms.
  • For decentralized infrastructure (DePin), the challenge is attracting enough capital and attention to develop infrastructure that’s faster and cheaper than incumbents.

In-depth Summary :hibiscus:

The article starts by discussing the importance of having a philosophy about the market as the baseline for investments, as suggested by Arthur0x in a Crypto Market Wizards episode. The author then delves into the plan for the future of blockchain and cryptocurrency, which revolves around the concept of “number go up”.

The author explains that most people, including himself, initially got into crypto for the libertarian principles of overcoming corrupt systems and creating a freer, happier society. However, the majority have stayed in the space because of the massive price increase of cryptocurrencies, particularly Bitcoin.

The author argues that this “number go up” phenomenon is not necessarily a bad thing, as it has brought more attention and capital into the space, which is crucial for the continued development and adoption of blockchain technology. The author believes that blockchain is fundamentally about decentralizing trust, making the rules transparent, uniformly enforced, and voluntary.

The article then explores the challenges of expanding the value of decentralized trust beyond “number go up”. For decentralized social media (DeSo), the author suggests that the key is creating a product that can 3-10x the dopamine hits of existing social media platforms, which may be a difficult task. For decentralized infrastructure (DePin), the focus is on attracting enough capital and attention to develop infrastructure that’s faster and cheaper than the incumbents, while also finding meaningful use cases for blockchain beyond just cheap and fast capital.

The author concludes by emphasizing the importance of sustaining the attention and activity of builders, early adopters, and less early adopters, as well as maintaining the capital flows that allow builders to keep building. This, he believes, is ultimately dependent on the “number go up” context.

ELI5 :lollipop:

The article is about the plan for the future of cryptocurrencies and blockchain technology. It says that most people got into this space because they saw the prices of cryptocurrencies like Bitcoin go up a lot, even though some people originally joined for the idea of creating a better, more free and fair system.

The author thinks that this “number go up” thing is actually a good thing, because it brings more attention and money into the space, which helps the technology and ideas behind blockchain grow and improve. The main goal of blockchain is to make it easier to trust each other without having to rely on big companies or the government.

The article then talks about the challenges of getting people to use blockchain for things other than just making money. For social media apps, the challenge is to make them even more addictive and fun to use than apps like TikTok and Instagram. For things like building new internet infrastructure, the challenge is to get enough money and attention to build something better and cheaper than what the big tech companies have.

Overall, the article says that the key to making all of this work is to keep the “number go up” thing going, so that more people and money keep flowing into the blockchain space, which will then allow the builders and developers to create even better and more useful things.

Writer’s Main Point :star2:

The writer’s main point is that the “number go up” phenomenon, while often criticized, is actually a crucial driver for the continued growth and development of blockchain technology. By attracting more attention and capital into the space, the “number go up” effect enables builders and developers to experiment and create new applications that can expand the value of decentralized trust beyond just wealth creation and preservation.