A very hard unsolved problem, in fact, is how to make it private. The idea of using it for money laundering is absurd. It's the worst way to do it. Everything is public and exposed.

-This is similar to the modern model of video games with microtransactions

For example, BTC's value is enabled its scarcity. This scarcity is ensured through the code and design of BTC itself. There isn't a central party that can change the rules on users and take the supply beyond 21m coins.

-To analogize, think of the iPhone in 08. To see the opportunity, you had to imagine 1) that weaknesses get mitigated (it gets faster, service gets better), and 2) entrepreneurs will take new features (like GPS) and create new ideas with them

-BTC worked well as store of value in the sense that there's more and more people that accept it as such. Data supports that it is being used in countries with unstable currencies

What is DeFi all about? Modernizing, disintermediating (banks etc.), reducing layers of fees in the middle. Transparency. This is a big misconception. People think it's opaque and used for criminal activity. Everything in blockchains is open...

-This is part of what makes early internet innovation so rapid- it was built on open protocols that devs knew wouldnt change

-LLCs were one of the best inventions of the 19th century. But I believe it's run its course. It's not working well for a whole bunch of reasons, including that you end up with very concentrated wealth on these networks. What's so beautiful about tokens is you can design these very granular systems where people are rewarded tokens for using the... See more

-What is the main limitation today? Performance. A blockchain computer inherently takes a hit on performance, because the design is foundationally based on the idea of not trusting a single computer. You need to pay for the overhead of running all these computers