I am often asked my opinion of crypto by those who have not yet delved its rabbit holes. This is why I hold:

1. Serious Innovation and Talent

First, I haven’t found an industry attracting such talent. It’s up there with AI, neuroscience, and space exploration. Yes, the scammers and the SBFs make the headlines, but there are so many brilliant, talented people quitting their jobs in tech, joining crypto companies, solving problems, sharing, learning, and collaborating. The speed at which crypto innovates reflects this massive pool of talent. This is the absolute frontier and I like putting my money where I see such motivated talent.

Speaking of the frontier — this is one of the most interesting and exciting industries I’ve ever come across. This is a digital frontier where the smartest and most talented people win. It is cutthroat. Make one mistake and you can get wrecked. Have one vulnerability in your code, and your entire community can get wrecked. But also, this is a fertile field which has very little sympathy for “trying” or “good enough.” Such an industry cultivates stress tests every idea to the max and ensures that only the best succeed. Explore some narratives (even past ones like the Stable Coin Wars) and get a taste of this digital Wild West.

2. Crypto As A Financial Revolution

Next, I see crypto as a means of financial protest for a generation of people that feel disenfranchised from traditional assets, burdened by the financial irresponsibility of the generations that came before, and disillusioned by the current “game.” But this is not a violent, anarchist revolution. This is an extremely well-designed alternative that is already a growing revolution with radical implications. Adopting a financial system outside the reach of governments — protected from inflationary decisions and the corrupt tendency to use monetary policy as a financial weapon – is so potentially disruptive that I think the only reason governments haven’t taken a more aggressive stance is because they don’t yet understand its potential. But their kids do. You know, the ones who were told “go to college, work, and you’ll be able to buy a house and be happy.”

But this dream is dead. The wealth divide is growing rapidly. People have to work harder and harder to get ahead. They feel the system is rigged against them and they don’t want to participate. The worse things get, the more appealing this revolution will become. Crypto offers an alternative game. And the global macro economy is playing right along with it.

3. DeFi Works

The fact that DeFi works at all is insane to me. And it not only works, but it hosts billions of dollars and allows people to genuinely access numerous financial applications. You can have your entire financial life on DeFi. I do.

You can lend, borrow, contribute to ecosystem security in exchange for rewards, vote in decentralized governance systems, all without middlemen. Real products are being launched by decentralized organizations. I understand that this is still siloed. But the important thing is that it’s built, it’s being actively improved, and it works. I really think, in the context of the points I made above, this is an “if you build it, they will come” type situation. And built it we have.

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https://open.substack.com/pub/theblockprint/p/why-i-own-crypto?r=1b8e3&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true

Why do you hold crypto?