I’m becoming more bullish on crypto, in particular the long-term value of Bitcoin and the shorter-term value of blockchain infrastructure for content creators.
First, the only potential point-of-failure for independent intellectuals is payment processing. Profitable indie thinkers outside of institutions are almost completely cancel-proof; the only exception being if popular protest convinces payment processors you’re too risky. If Visa or Mastercard tell Patreon or Gumroad you’re too hot to handle, then you could be screwed.
Though this has not been a real threat for anyone except the biggest and most unhinged content creators such as Alex Jones, political fashions today can change very quickly.
There are possible futures in which this problem suddenly threatens even small-timers. This factor alone means that independent intellectuals need to at least start exploring alternative payment infrastructures, on the off chance that mainstream payment processors are suddenly captured.
Second, increasingly I want to go long on Bitcoin, especially as an inflation-hedge asset. I’m not going to make the case right now, I just think that A) there are and will continue to be a lot of political tailwinds with inflationary implications, B) Bitcoin is better than gold as an inflation hedge and this will be increasingly realized, especially as Millenials and Gen Z’ers get older, and C) there is going to be a ton of institutional money moving into Bitcoin over the next decade, I think.
Thus, due to the downside political risk of mainstream payment infrastructure and the potentially asymmetrical upside of Bitcoin in coming years—I personally think it’s time to start allocating more energy, time, and resources into crypto infrastructure.
It also seems to me, anecdotally and subjectively, that early-stage crypto applications for creators are sufficiently validated that now is the time for more of us to start taking them seriously.
Currently exploring non-fungible tokens
I was recently talking with Kenny Rowe of the Dalten Collective about how I could allow my audience to own limited-edition, “signed” mp3s (of the podcast) or PDFs (of blog posts)—using non-fungible tokens (NFTs). Then these copies be traded on a marketplace such as OpenSea.
We are pretty sure this is doable, but we’re not sure about the best way to do it.
Does anyone out there know the most effective and efficient way to do this?
Please let me know. Whether it’s just a little quick input or you’re potentially interested in working with us, we’d love to hear from you.
I’ll certainly keep everyone up to date on my experiments, via this blog.