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"Upstream" with Erik Torenberg cover image

E54: Naval Ravikant and Balaji Srinivasan on Why History Points to Crypto

"Upstream" with Erik Torenberg

NOTE

Fairness through Distribution

New cryptocurrencies are adopting the 'fair coin model' by prioritizing wide distribution over traditional fundraising. This approach involves mechanisms such as airdrops, aiming to give coins directly to users, thereby democratizing access and potentially increasing their value through widespread utilization. This contrasts sharply with historical methods of wealth distribution, which often favor a select few based on ancestral claims. The current system, exemplified by the Federal Reserve's practices, tends to benefit banks disproportionately before trickling down to the economy. Blockchain technology presents an opportunity to explore and implement more equitable distribution methods, challenging existing economic disparities.

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