Dear Journalists,
We appreciate your interest in this revolutionary technology that, you seem to agree with, will change the world.
After watching last nights interview of Dominik Schiener by your German colleague Mr. Lanz, it´s clear that we need to talk. This shouldn't come as a surprise to you. This has been a long time coming, yesterday was just the final straw. And it´s not about IOTA, this happens with any crypto you talk about. We find it mind boggling that smart journalists such as yourselves can not wrap your head around what makes this so revolutionary, that you can´t be bothered to get some simple facts right and that you clearly don´t understand what the most newsworthy part of the story is.
I´m not talking about mining or the fact that you can´t comprehend why you "can´t touch the coins". I know it makes for nice talk show banter and this is why you usually spend most of the time talking/writing about this (yuuuge processing power, yuuuge electricity consumption). Please understand that the real paradigm shift of crypto and DLT tech goes much deeper and means nothing short of a radical change to the way we do business.
A protocol project, like Ethereum or IOTA, is not a startup/for-profit/corporation. Full stop. It is not owned by the founders. They do not own shares in it, they do not have a profit incentive in the traditional sense. That´s why it´s called a paradigm shift. It´s much, much bigger than creating the next <INSERT UNICORN NAME HERE>. Since you asked: Now, in the new world, it´s all about network effects. It´s about creating something that is owned and operated by the commons and can be accessed and used by all. It´s about creating something yuuuge (see there is your keyword, now you can run with the real story) that provides a service or utility that is so valuable to so many people around the world that the founders and everyone else participating in the network are still rewarded with a large financial gain.
Just imagine what it would be like if you could own a stake of 0,1% of the global telephone network. How valuable would that be? I know, you will say it´s not possible to own a share of that. But that´s exactly how it works with crypto and that´s exactly why this will be so disruptive. Wouldn´t you agree that this is a much more interesting story then talking about how much energy mining wastes? And wouldn´t you agree that building such a new "telephone network" is much bigger then covering a startup inventing the next fax machine (a reference to the next <INSERT UNICORN NAME HERE> mentioned above)? Joel Monegro described this to the point in Fat Protocols.
And you know what? This is just one tiny angle of this. I don´t want to bore you, I know you have a lot of other really, really important stories to cover, so I will leave it at this one example. If I peaked your curiosity and should you need help understanding more aspects of the true impact of this tech you are welcome to read up on some of the links I have embedded in this letter. Or you can always ask anybody on Reddit. And I do mean anybody. We´re all happy to help. We can´t shut up talking about crypto when somebody asks us. Even if no ones asks us. We are all Dan´s.
Why don´t you try it sometimes, you might still learn a thing or two and you will be better at doing your job.
Sincerely,
We, the people passionate about crypto and DLT.
P.S.: I know you like short and sweet, so here is one more quickie by Naval Ravikant
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