appreciate the response - your second point especially rings true for me and has set off some thoughts of my own:
I would say my 'theory of crypto' is that they're rediscovering the financial system. The financial system can do everything crypto can and more. The fact it does not is due almost entirely to regulation.
This implies crypto will be most useful in environments where you can skirt regulation the longest. I imagine cross-border payment systems(esp to emerging market countries) are the most promising examples of where this would be useful, and i know there are some groups working on this already.
This also implies that in the developed world, crypto has capped upside. The point at which it's big enough to matter is the point at which its regulated. It will rapidly converge to 'Trad Fi' without the institutional support the financial world already has.
Just some thoughts bouncing around my head that your comment spurred...
I would say my 'theory of crypto' is that they're rediscovering the financial system. The financial system can do everything crypto can and more. The fact it does not is due almost entirely to regulation.
This implies crypto will be most useful in environments where you can skirt regulation the longest. I imagine cross-border payment systems(esp to emerging market countries) are the most promising examples of where this would be useful, and i know there are some groups working on this already.
This also implies that in the developed world, crypto has capped upside. The point at which it's big enough to matter is the point at which its regulated. It will rapidly converge to 'Trad Fi' without the institutional support the financial world already has.
Just some thoughts bouncing around my head that your comment spurred...