Thread · 2 tweets · 7 Apr 2023

That's an interesting point but I'm not as confident as you are that transaction costs will keep dropping. They will only drop if the system isn't captured by intermediaries who benefit from taxing them. See what happened with advertising, app stores, etc.

We *could* (and should!) be driving transaction costs down, but for that to work we need to eliminate intermediaries, liberate infrastructure, and be uncompromising with capture-resistance!