Joel tries to position his two shows as crypto news and commentary for the everyman. When he first heard about bitcoin and bitcoin mining in 2012, the concept didn’t resonate with him. The idea of mining with a computer seemed asinine, and he paid it little attention.
It wasn’t until a conversation with a friend in 2017 that he really understood the transformative potential of the blockchain, an experience which reminded him of encountering the internet in 1995.
This reminded Thomas of a technique he teaches in his “Future Like a Boss Course” called ‘attractionary futuristics’. This involves trying to identify high-probability, high-impact developments in the future and building towards them today.
Thomas then asked Joel when he thinks major retailers like Amazon or Walmart will start accepting Bitcoin. Joel was surprised they haven’t done so already, especially given the fact that El Salvador now accepts it as legal tender, but he suspects we’ll be in the early stages of more widespread adoption in five or six years.
Joel takes a dim view of financial institutions like banks and thinks they’ll start accepting payments in cryptocurrencies when they have no other choice. He does think that day is coming, though, and Thomas speculated that as soon as 2030 there could be mortgages or loans being denominated in cryptoassets.
Continue reading… “Futurati Podcast Ep. 56: Joel Comm on blockchain, NFTs, and cryptoassets.”
Thomas notes that much of what drove the early development of cryptocurrency technology were philosophical libertarians with a penchant for writing code. Today, many of those same people have driven the move into non-fungible tokens (NFTs) and the metaverse. Joel derided those who lack the vision to see the potential of these technologies as being the same people who thought Jeff Bezos was a fool for selling books out of his garage.