Damus
hodlonaut · 1w
VC money is a helluva drug. Symptoms include: - sudden inability to define the word "spam", previously straightforward concept, now philosophically complex - the word "censorship" begins to apply...
Zsubmariner profile picture
It's important for Bitcoiners to build businesses that are resistant to VC corruption. Not easy.

Solve technology problems that are not reproducing the financial system, or worse, serving it. Ones where we have natural advantage. Take minimal capital and no debt. Grow slowly at first, LTP. Still beat the Bitcoin hurdle rate. Real pure value delivery. Solid honest economics and win on value.

It's tricky because most investment money in Bitcoin is still focused on financial use cases and outside Bitcoin there's no interest in anything that isn't corrupted by it. (Fiat businesses are scam first, value is incidental.)

But I think there is a lot to do that threads this needle and grows real utility. Bitcoin-powered economics will create better everything, but I don't think Bitcoin investors or the builders are focused enough on creating ambitious businesses in this sweet spot where we can apply Bitcoin to tech outside of recreating finance.

Mining in the energy space is big exception, and a strong example, but other than that nothing has broken out. V4V media is very promising but will take time. Privacy tech is probably the least mature and the most important. But the potential is huge and I think it's not getting the investment it deserves. Frankly, I don't think the investors are seeing the missed opportunity.

The Bitcoin-powered economy can unlock massive value without all this corruption and outcompete fist junkware, but for lack of imagination we get endless shitcoining and the important stuff is floating in hobbie space.

That's not to say some brilliant people are not working on it. We're just early.

It's still like watching a caveman use a laptop to beat his dinner to death.

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