#Bitcoin Investing On A COSMIC Scale – (Chris Coney & Juan Villaverde) WCSS:020
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So start us off here, this whole conversation is thanks to the creation of Starlink. So, what is Starlink and why is it a big deal in general? Then we’ll extend it to crypto.
For the benefit of the viewers that don’t know, can you give your description of Metcalfe’s law? Then we can apply that to crypto as well in combination with Starlink.
So when we get a bit over excited and say that crypto is going to empower everyone on the entire planet including impoverished people in third world countries, we forget to point out that not all 7 billion people we are going to empower with crypto have Internet access.
So ultimately this is why Starlink is such a hum dinger. It’s a brand new communications network that was intended to be global at the design stage.
The problem I personally have with this topic is getting into much detail as to what the impact is going to be, simply because once people are empowered, what they do as a result is anyone’s guess.
I’ve seen how naturally innovative people are when they are empowered, and that is what I expect to happen when you give countries like Africa and India access to Starlink and DeFi.
I suppose they will use all the financial instruments that we already know and love but it will be on a much bigger scale simply due to Metcalfe’s law.
What kinds of businesses will be possible in a post-Starlink world?
Being a YouTuber / Social influencer
Direct to consumer e-commerce (handmade goods)
eBay for regular people
We take all these for granted but many people have yet to experience them.
What about the opportunities for big businesses?
Any blockchain node can reach any other blockchain node no matter what the on-planet infrastructure
We could have off-grid data centers built next to hydro plants with a starlink connection and they’re good to go.
Now the bad news is that Starlink can’t simply offer service in any country it chooses. They have to be granted a licence by each national government.
First, this seems like a crazy thing considering it’s a satellite network, so this is such an artificial barrier
Some countries are just not going to accept such an empowering technology (like North Korea).
I don’t see a way around that since Starlink is a proprietary and permissioned network.
Could we see some kind of open source competitor? Maybe.
Starlink is still in beta
Approx 50m US homes only have 1 broadband ISP with 25 Mb max speed or no ISP at all.
Amazon asked the FCC to reject Starlink plan because it can’t compete, SpaceX says. Source: https://arstechnica.com/tech-policy/2021/09/spacex-slams-amazons-obstructionist-ploy-to-block-starlink-upgrade-plan/
“Amazon’s Kuiper Systems subsidiary plans to eventually launch low Earth orbit satellites to compete against SpaceX’s Starlink division. But while SpaceX is providing beta service to over 100,000 customers from over 1,700 satellites, Amazon has said it won’t start launching any satellites until at least 2023.”