source avatarMike Chan | Deep Ventures 🤘

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In startups, there’s a distinction between vitamins and painkillers. Vitamins are nice-to-haves that generally make life better, and painkillers are must-haves that solve an urgent problem. For a long time, crypto has looked like a vitamin - something people are curious about, a playground for developers and traders, a portfolio enhancer for investors. But think about why some of the most popular cryptocurrencies were spawned. Bitcoin was launched in response to the 2008 financial crisis, when centralized governments bailed out banks and debased their currencies. Ethereum was devised after Vitalik got his Siphon Life spell taken away from him in World of Warcraft, fueling his mission against centralized services. Stablecoins were created for quick cross-border settlement without middlemen taking out huge fees. When the system breaks - when money printer goes BRRRRR for wars and financial crises, banks freeze withdrawals, or users are censored - crypto will be painkiller to solve these problems.

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