Jesse Eckel (@jesseeckel) • Hey
Crypto Investor
Publications
- I think most are vastly underestimating how well NFT's will do this cycle.
Human nature hasn't changed over the last few years.
People still love to flex and join exclusive clubs.
When everyone feels rich again, they're going to start buying NFT's.
It's that simple.
- Checking out Lens again. What’s new?
- Looking for guests with a compelling idea or thesis in the crypto space to share on my new podcast.
My YouTube has close to 200k subs and my TikTok over 300k.
Will be promoting my podcast heavily across both.
Message me🥳
- What’s everyone bullish on today?
- Is there a way to stay logged into Lenster? It's not fun having to grab my hardware wallet out every time I want to login😅
- The more I think about a crypto native stable asset the more I realize how massively disruptive something like this would potentially be.
Today when two countries want to buy each others goods they use US dollars. It’s easy to understand why.
Imagine someone wanted to pay you your salary in a crypto token, would you choose ElonRocket Coin or ETH?
99% of people would prefer ETH because they feel it has much more intrinsic and lasting value than something like ElonRocket coin.
Nations operate similarly. When conducting trade they want to get paid in something that can hold value long term. You don’t want to give up your valuable resources and goods for nothing.
Well after world war 2 the world currencies were shot to pieces. Nations needing to finance the war had racked up massive debt and most currencies were less than sound.
That is of course besides the US which had resources, a strong military power to secure it and a stable currency backed by gold.
So naturally countries began transacting trade in the US dollar. It was a better alternative to anything else at the time and became dominant.
So much so that overtime the dollar became the number 1 export of the US. Infiltrating the entire global trade system as the defacto current of settlement.
This gave the US government enormous benefit, the essentially became the bank in monopoly and overtime they abused that power.
First by decoupling the US dollar from gold, then by printing money on demand as they needed it.
They also began amassing massive amounts of debt. Since they owed their debtors in US dollars they didn’t consider it an issue. After all, if they needed to pay it off they could just turn on the money printer.
Overtime this has eroded trust in the US dollar. After all who wants to play monopoly with a player who can just take money from the bank as they please.
The issue though is, if not the US than who? The problem of government mismanagement of their currency isn’t just a US issue and since the US dollar is so widely used and accepted its able to sustain the money printing because it has massive amounts of global demand and with no clear alternative that’s what the world is stuck with.
Enter a crypto native stable asset not pegged to any single fiat system.
Imagine if countries were able to trade goods and services in a neutral currency that no nation could unfairly devalue or destroy.
That is what the idea of a crypto native decentralized stable currency can achieve. A settlement layer for global commerce that is fair, retains value and is neutral.
This hasn’t been possible with BTC or other current currencies because they’re not stable. Nations like people don’t want to commence trade and have the value of their wealth drop by 70% overnight.
But I believe crypto will eventually create a solution to this problem and deliver a stable currency that can fill this need. Perhaps even several.
This will I believe become a killer use case for crypto and propel it forward as the the decentralized global finance system of the world.
- Lens is really interesting so far exploring around. In my opinion decentralized social will eventually take over. It is fundamentally better for users to own their content and I love how posts propagate across the entire network.
However there are few things I think are pretty rough about the experience. One is the signup process is easy for crypto natives but there's just now way a normal person could do it.
We need a way for them to sign up that's as easy or easier than traditional social media.
A way for a wallet address to be managed by an email or something similar with the option to do it with a hardware wallet or metamask for crypto natives.
I think the other things like UI, killer features, etc will get solved by allowing builders to build on the protocol but sign up if it isn't fixed will become a huge wall most average users won't be able to get around.
- My first post on Lens🥳