> It’s the biggest wealth producing opportunity of the next decade or two and HN doesn’t get it at all.
Help me understand where that wealth comes from. Because as far as I can see the only wealth that gets generated is from people who got in earlier selling their bags to people who got in later.
I would say you haven’t looked into smart contracts, NFTs and distributed apps enough.
Look into Uniswap, Balancer, Curve, Compound, MakerDAO. Read what Vitalik Buterin has written on his blog and watch some podcasts with him.
For people outside of the art world the narrative around NFTs is “it’s all fraud / it’s all silly pictures of apes”.
This is demonstrably untrue but its hard to show this to the hive mind here since they want to believe that it is true. But a lot of folks in the digital art world will tel you that NFTs have been a godsend.
Basically you are looking at tokens (99% of which are a scam) instead of looking at applications (99% of which are also a scam). The fundamental problem with crypto right now is the lack of regulation - without regulation it’s become a free for all for all kinds of scams and ponzis. If you were a criminal today the best way to make money is crypto. There is no regulation. You have to separate the wheat from the chaff but the chaff is humongous due to the lack of regulation. This gets a lot of people confused and they just end up dumping the whole space (unfortunate but understandable).
Help me understand where that wealth comes from. Because as far as I can see the only wealth that gets generated is from people who got in earlier selling their bags to people who got in later.