Crypto Theses for 2022 [pdf]

https://messari.io/pdf/messari-report-crypto-theses-for-2022.pdf

by dustingetz • 5 years ago

39 50 5 years ago

KarlKemp• 5 years ago

"The alpha in this report is free, and many have gleaned insights from past reports that helped them make money, but nothing herein is investment advice. Be an adult."

I don't know why but just the choice of words here made me nauseous.

space_rock9• 5 years ago

You can tell this promotion is about making money selling tokens.

timdaub3• 5 years ago

- Read 3 pages and Balaji was mentioned 6 times

- Top 10 crypto people to watch is mostly VCs, ok

- Links to some big claims are direct links to tweets

- "It’s inaccurate to call Tether a fraud."

- TIL: Balaji backed Worldcoin (Worldcoin is the retina-scaning dystopia Sam Altman crypto startup)

- They call OHM an unpegged stablecoin, but it's actually a ponzi: "However, judging by the number of forks it has spawned, OlympusDAO may be the year’s most important new project, and non-pegged stablecoins may be the best bet this industry has when it comes to de-pegging from the US dollar." Wow, let's see how that statement will age...

- Have I mentioned that Balaji is cool?

Actually, it's pretty entertaining to read.

user-the-name2• 5 years ago

For reference, Balaji is the guy who promised a massive project to put bitcoin miners in all of your household appliances so they could get bitcoins to make microtransactions with. This was somehow pitched as both desirable and possible, two things which is most certainly wasn't.

Having raised large amounts of money for this, he then proceeded to deliver absolutely nothing except an outdated mining chip duct-taped to a Raspberry Pi, and then pivoted to... paying people to answer surveys?

Everyone in the cryptocurrency sphere thinks he is a genius and visionary.

timdaub3• 5 years ago

Can confirm. But hey Peter Thiel then recommended him to Trump for like some government positions.

space_rock9• 5 years ago

Everybody's origin story in crypto is criminality

ChainOfFools• 5 years ago

oh yeah, amazing how quickly everyone forgot about 21.com and the vaporware kleptocurrency-mining toasters Balaji Bullshitivasan somehow (claimed to) raise $100MM+ to develop and market. Even roped in Qualcomm, though what their role was, nobody seemed to know or care.

Where did all that vaporized money go and why aren't there a dozen lawsuits on his back from angry, defrauded investors?

batman-farts• 5 years ago

I already feel sorry for the future historians who are going to have to parse thousands of broken Twitter threads when they study this stuff.

cryptown2• 5 years ago

Whether you’re here as a missionary or a mercenary, you’ll find that one of the primary unifying forces behind this movement is the belief that decentralized technologies with embedded financial incentives (a good shorthand for Web3) offer a compelling, often lucrative, alternative to our decaying legacy institutions

The only reason people are interested in these "lucrative" alternatives is because our "decaying legacy institutions" have incentivised wealth. I've yet to read a compelling argument as to why making a bunch of nerds (like myself) rich is not just a continuation of capitalism. An alternative to capitalism is something that removes financial incentives from life.

timdaub3• 5 years ago

I've yet to read a compelling argument as to why making a bunch of nerds (like myself) rich is not just a continuation of capitalism.

Yes, crypto is a continuation of capitalism.

screye2• 5 years ago

If anything, crypto is about explicitly enabling and exploiting the best of what capitalism has to offer.

Open access and competition at every step is when capitalism is at its best. It tries to structurally avoid the emergent problem of institutional capture that we're all too familiar with in the US. Finance is probably the best example of institutional capture. So, I see the value of an alternate system.

It reminds me of the development of ML. ML has allowed statisticians, supply chain folks and industrial engineers to market themselves as AI people and implement much needed solutions that existed before the AI boom, but never had the clout or funding needed to push ot through.

Crypto is the Trojan horse. Inside are important traditional solutions whose only shortcoming was lack of a cool factor. So they've hopped on the crypto bandwagon to attract talent and resources needed to make these academic solutions a reality.

whoisninja10• 5 years ago

web3 is BS

everything runs on centralized servers, where are the peers in these p2p networks?

wegwerfbenutzer2• 5 years ago

one is running next to me (geth + lighthouse)

diveanon6• 5 years ago

Pretty bold claim with 0 evidence.

whoisninja10• 5 years ago

what's this then : https://www.ethernodes.org/network-types

space_rock9• 5 years ago

0 evidence? I think you mean endlessly endlessly evidence for fake decentralisation

https://twitter.com/dydxprotocol/status/1468293558360805381

Here is a "decentralised" exchange going down with aws

0xdeadb00f• 5 years ago

Pretty bold counter claim with 0 evidence.

0x646• 5 years ago

I'm one, with a node running within arm's reach from me; so make that two I guess

whoisninja10• 5 years ago

congrats for being one of the minority 20% residential nodes

btw is it archival node or what?

clpm4j• 5 years ago

This sentence summed it up for me:

"Today there is still no scalable, decentralized, widely integrated protocol that moves value and data between blockchains without relying on trusted third parties."

There is absolutely nothing technical or interesting from an engineering perspective in this pdf, but if you want a summary of the crypto-VC-twitterVerse then you might find it entertaining.

udbhavs• 5 years ago

I think Vite (https://www.vite.org/) aims to do something like this

Tangokat• 5 years ago

I think the report is pretty good. It has an obvious bias towards crypto/web3 being great but when you put so much money into it I suppose it kinda has to be that way.

As someone who sorta accepts some parts of the crypto narrative and use it on a daily basis the chapter about NFTs just does not make sense to me. All these people high on play-to-earn games and buying non existant land in a game/virtual place that doesn't really yet exist. The world just isn't there yet, this is a classic overhype situation and will have to go through years of winter before maybe actually working.

Could you see virtual land being worth something in a world where the Ready Player One Oasis exists? Yes sure.. but we're so far from that and I think a lot of these finance guys don't understand the gaming/technical challenges to get there.

diveanon6• 5 years ago

I agree that play-to-earn is still very early, but there are several projects in the space making significant progress towards making it a reality.

I view investing in these projects no differently than my TSLA positions. Over hyped for sure, but the potential upside is massive and I am unwilling to sit on the sidelines.

Right now I am active in a few communities and it’s been a lot of fun watching these games evolve on a near weekly basis. I relate it to Kickstarter but you actually own a part of the company.

ElonMuskrat• 5 years ago

This reads like a high school student council wrote a financial research booklet and then took themselves seriously.

whoisninja10• 5 years ago

Touche lol

Crypto Theses for 2022 [pdf]

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