SHILL Issue 25

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And I’m optimistic that we might get there in the next few years; that there is a light at the end of the tunnel. How about use cases? Well, the biggest blockers are network effects: for crypto payments to work well, both the buyer and seller need to support it. This means slow, hard work; building out the network until it approaches transition points where enough merchants and consumers use crypto that payments and remittances start flowing. And, similarly for blockchain based social media and information flow. Tapping into the existing userbase of video games could be huge--billions of users and hundreds of billions of dollars each year. But this only makes sense if it makes the virtual worlds more engaging, not less. The real goal, here, is to take a great game, and integrate NFTs in a way that makes the game better. And, meanwhile, networks need to keep scaling. I always laugh when a blockchain says they’re already fast. None are! Fast means millions of TPS. No one is there yet. What matters the most is having a concrete roadmap to scale to millions of TPS and executing well on it. So, there are some concrete things that the crypto ecosystem needs to manage well over the next year. But more generally, everything matters. I may write more on this later, but one of the core theses I’ve come to believe over the last few years is: Everything is the same; everything is commensurable. If you want to grow trust in the industry, regulation matters. But so does UI/UX; and each scam detracts. Every time we can do something great and beautiful and useful as an industry, we move everyone forward. Every time we fuck up, we all take a step back. Let’s keep putting one foot in front of the other. 62 SHILL Issue #25
Sam Bankman-Fried: Stablecoin Regulation Profit from Crash! (FTX CEO) | Sam Bankman-Fried SHILL Is1ue #25 63
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SHILL Issue 25

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