Did you read the "The Wonders of Web3" by Tim Ferriss, Chris Dixon and Naval Ravikant ?
Happy November everyone!
I'm sure you must have read more things related to web3 and I assume that you continue reading daily to become a successful long-term investor.
You will never change your life until you change something you do daily. The secret of your success is found in your daily routine
I will put my hands up and say I still really don't understand Web3 basics. However, I'm happy now because daily reading is my new habit and I read more and more about web3 every single day mainly from web2 sources. In a few years, I will not need to leave web3 and completely ignore web2 sources.
Today, I thought I would share some interesting pieces from the recent (28th October) Tim Ferriss Show called "The Wonders of Web3"where Tim interviewed the general partner at Andreessen Horowitz Chris Dixon and co-founder and chairman of AngelList Naval Ravikant. Mainly I will try to relate this podcast to our Hive network.
If we look at where the great fortunes are made in human history, they're always made on the frontier. The frontier is the place where you make money. Naval knows the current frontier is crypto. I can tell you that more than 95% of the people don't even play in the current frontier. That means we're all going to make it. Crypto is a collective positive-sum game and individual infinite game.
Today it feels like the frontiers on the internet and even on the internet, the frontier is within Web3 and crypto because it’s sort of the least regulated the most decentralized, the most permissionless, 24x7x365 markets that are self-funding, hackers from all around the world can participate.
Anyone in the world are can get involved in Crypto and you don't need a visa or passport.
The beauty of web3 is, for the first time, all the data is actually open. The data is literally living in the blockchain or in distributed systems, but it's secured. It's actually secured far better than these corporations can secure our data.
This means public blockchain like Hive is more secure than Meta (Facebook).
Satoshi Nakamoto may end up being the richest person who ever lived and could have pulled it off completely anon.
Next Joe Rogen can be anon. It's very possible he will be someone from Hive.
All the smartest people in Silicon Valley seem to be looking from their nine-to-five jobs into 24×7 Web3 and figuring out how to participate. Every company that I’m involved with that’s not a Web3 company calls me and asks me about a token or a Web3 angle. Obviously, some of it is just to make money. But some of it is this appeal of open source, open platforms, portable data, user privacy, user control, keys, and community-owned and generated networks.
I'm also trying to figure out how to turn my side hustle crypto into the main hustle and I'm in no rush because I'm in it for the long haul.
Email is a web2 app. LeoFinance is web3 app. An earlier version of emails had a terrible user experience but with innovation, it becomes much much easier to use. We just have to understand how early we're with Web3.
Web3 basically says, “Okay, we can now run this network through the people who have invested into the network and they can invest with money. They can invest with resources or they can invest with proof of work, which is sort of the most robust way to do it while keeping it decentralized.” But I think, this may of lead us into, we’re probably getting to the point where we should define what we mean by Web3.
Chris Dixon's definition of Web3
It’s an internet owned by users and builders orchestrated with tokens. This new concept of a token is the kind of the key concept of Web3.
Hive can plug into ETH or ADA etc
One of the reasons why the Web3 revolution is going to be so non-linear and so unexpected and so fast is because open code means these applications plug into each other like LEGO blocks. You go buy a LEGO for your kids. Well, it connects to every LEGO piece that your kid already owns.
Instagram makes money from you. Hive makes money for you. It's a blessing to be part of the Hive network which empowers creators all around the world.
The owners of Spotify are getting far richer than the creators and the podcasters on Spotify and the musicians on Spotify.
But in Web3, we created this innovation with DeFi actually called automated market makers where you can just do it through code. Now, once you’ve done that in code and most famous company is Uniswap, which is of course an Andressen investment. So congratulations Chris.
If I knew this earlier, I would have invested early with Uniswap. I have no control over my past. Happy that I'm reading more and more now, my daily inputs are compounding and I'm sure I will find a gem in Crypto soon by just reading more.
Actually, if you prefer listening then this podcast is 2.5 hours long. Reading is faster than listening for sure. And I hope you will go ahead and read this podcast transcript from the legend Tim Ferriss.
And Thank you for reading my little post.
Don't forget to hit that upvote button and leave a comment. Thank you and I truly appreciate your support. I'm grateful to be part of our crypto, Hive, and LeoFinance community. Today is Day number 17 of my personal 365 days of writing challenge.
Twitter: Twitter.com/NathanMars7 Telegram: nathanmars7
