Crypto Club 2021

Intro

By Luciano DeAngelo

The Narrative of College:

Step 1: Go to school

Step 2: Get good grades

Step 3: Go to college

Step 4: Get good grades at college

Step 5: Get a good job

Step 6: Live Happily Ever After

Why build this narrative?

Purpose of school - Learn how to learn

Purpose of college - build a network, pay for an experience

What school is used for: teach standards, discipline and how to communicate

What college is used for: teach specializations and how to build consensus through bureaucracy

• There is no such thing as a “job”, only work that needs to be done
• Most people don’t know what work needs to be done or how to get it done so these systems are used to get people to do the work that needs to be done
• However, in the information age, this is changing. Everyone is now able to figure out what work needs to be done and how to do it.

How do we build systems that better facilitate these things?

Democratization was the first step decentralization/distribution is the next.

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These networks will allow us to empower and reward creators and communities in a way we have never seen before.

What work needs to be done?

We are here to play games with each other, have fun, and love. We accomplish this by creating experiences that help us enjoy life. How do we build systems to better facilitate these experiences?

• Once we do the work that “needs” to be done we can do the work that we want to do (create fun games + experiences in general).
• Creating better systems that facilitate the creation of better, more fair, more fun experiences can be just as fun as creating the experiences themselves but ultimately it creates an experience for yourself and *hopefully* everyone else.

What is money and why do we need it?

Money is a reciprocal to value.

• When you create value how do you capture the fruits of you labor?
• How do you reward someone for creating something valuable?

But money is also more than just a reciprocal to value, it’s also a tool for asset allocation. We use money to allocate resources to the best ideas. You are rewarded for allocating your capital to the things that bring society the most value. The earlier you allocate to the best ideas the more you are rewarded.

However, we need to incentivize participation over speculation. We need to reward creators who participate by allowing them to capture a piece value they create for the network of community.

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Building consensus around truth

Most individuals prioritize consensus over truth which is why government works. Bureaucratic systems which are meant to facilitate building consensus are inefficient. We need a system that allows all humans to participate in the process of building consensus in a way thats censorship resistant, permissionless and effective.

• Governments build consensus through coercion.
• Free markets allow humans to build consensus around truth.
• Money allows us to have skin in the game to build consensus around truth which in turn provides value and you are rewarded for creating that value.

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Restructuring our system of incentives around reputation

Money → Participation

Power → Moderation/Curation

Status → Reputation

Contributing through participation earns you a role as moderator/curator which helps you build your reputation.

As your reputation grows so do your opportunities. When participants “game” the system to grow reputation the whole network benefits.