Another good analysis. As for the "First Step Dilemma", folks will solve it in the same way they solve other everyday-life Catch-22s: iteratively. Just like the person with no experience who relies on references, trustworthy folks will start off by providing trust services to people they know and who know them.
Sry for being a Gloomy Gus, but big corps will always have a huge advantage - particularly if they're the first one that takes off in a certain sector. I don't quite know why, but ordinary folks tend to trust "big" and "standardized."
Great points. Sad but true.
Thanks. And yes, it is sad but true. Thankfully, there are "New Frontiers" in tech - we're in one now! - that gives the little folks a much less tilted playing field.
In a very real way, the "cryptocurrency frontier" is a lot like a frontier town destined to become a big city. We're like the pioneers and early settlers, and we've put our stamp on this "town" In a generation or so, we'll enjoy the wry experience of seeing a bunch of suits using our words! They prolly won't live up to 'em, but they sure will pay a lot of lip service.
Yes definitely:)