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by pattt
1868 days ago
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Any starting points for some of us who still don't "get it"? Having done an introductory course on Bitcoin (coursera) I found it interesting especially for somebody with a bit of crypto/security background, however it didn't really deliver that long lasting wow effect. |
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I don't think there was a single moment in time it clicked for me. It was a combination of using some of the DeFi services, listening to to other people in the space, and trying to build stuff. I recommend learning by doing and trying to build something on Ethereum, ideally something that connects to existing services. Just using the developer tools will give you a sense of how early the space is.
I think it clicked for me when I understood the combination of:
- All data and code is freely available to everyone. Imagine you can literally copy Google, including all their code and user data, because you believe their user experience or ad model sucks. If you make a better version of it that attracts users you will get rewarded.
- You don't need business models such as subscriptions, ads, etc, because payments are natively built into everything.
- Everything is composable. That's huge. Imagine every service and website on the internet exposes everything as a global well-defined API that you can integrate into your own applications without restrictions or permission. These lego blocks may enable completely new applications.
- You don't need to manage infrastructure for storing data, or servers.
- Value, in all kinds of forms, is freely tradeable and transferable
A lot of things we use today can be built with drastically better business models, no intermediaries that extract money from you, and correct user incentives.