> He does not understand crypto & is trying to sell his competing product.
This is the repeated refrain of crypto believers. "You just don't get it." And yet when I ask someone to explain it to me (not the technology, the economics) I get hand-waving, self-contradicting promises (e.g. universal identity + resistance to censorship), and appeals to greed ("you must like being poor").
When faced with this, I'm often reminded of Richard Feynman's oft-cited belief that "if you can't explain it to an undergrad student, you don't really understand it". So my conclusion is that either nobody understands cryptocurrency economics and thus no one has been able to sufficiently explain it or the explanations I've heard are complete and accurate - i.e. I do understand it, and it's an emperor with no clothes.
The resource / explanation that really sold me on crypto was this specific podcast episode: Welcome to Bankless 2021 edition. I'm curious to know what you think after listening to it.
This is the repeated refrain of crypto believers. "You just don't get it." And yet when I ask someone to explain it to me (not the technology, the economics) I get hand-waving, self-contradicting promises (e.g. universal identity + resistance to censorship), and appeals to greed ("you must like being poor").
When faced with this, I'm often reminded of Richard Feynman's oft-cited belief that "if you can't explain it to an undergrad student, you don't really understand it". So my conclusion is that either nobody understands cryptocurrency economics and thus no one has been able to sufficiently explain it or the explanations I've heard are complete and accurate - i.e. I do understand it, and it's an emperor with no clothes.