My fellow retards,
In the early days of bitcoin, long foregone, bitcoiners would take the forums and state how bitcoin has value because it is going to upend certain industries. They would often suggest remittences as an industry that bitcoin would consume. They would cite figures that showed how inefficient that ecosystem is, and then they would state simply how bitcoin overcame those inefficiencies.
A few things to note. First is that a lot of the early bitcoiners had no background in finance. They didn’t understand interbanking systems and how correspondence works. They don’t understand the necessary liquidity to perform the function of global remittences. Nonetheless two things are certain, in retrospect:
Bitcoin did essentially nothing to the global remittance market
Bitcoin has been wildly successful.
What’s the takeaway? You don’t have to be right to be right. Early bitcoiners were looking for legacy systems which were easy targets for bitcoin to overtake. The store of value argument wasn’t nearly as prevalent in those early days. Few people thought (or maybe believed enough to say) that bitcoin’s mere existence gives it value. It doesn’t have to do anything else. It doesn’t have to beat any industries. It just needs to keep the promised inflation schedule which is known and predictable.
Humans like predictability. Humans like simplicity and stability. The general public doesn’t need to know everything the phonon protocol will be used for. Some seemingly obvious use cases will not play out. Perhaps it’s best to maintain the mindset that this is a system for free and private transactions. No need need to complicate anything beyond that. A system which provides nothing more than that has value.
Phonon DAO is ready to be whatever the world needs.
Tips to phonongod.eth will be invested in bounties that advance the Phonon project.
Hatemail to phonongod@protonmail.com will be scathingly considered.
Targets for the marketcap of PHONON DAO remain:
$1b by Q2 2022, $12b by EOY.
On the high end, $300b marketcap in 3 years.