The Unconstrained vs Constrained Visions for Crypto

This article, A Crypto Narrative with PMF, examines two distinct ideological frameworks within crypto. Rather than advocating for either position, I aim to illuminate the assumptions that shape each perspective. By understanding these contrasting visions, you can better evaluate your own beliefs about crypto’s purpose and potential.

Unconstrained Vision

• We must build a new financial system from scratch.

• The unrealized market has to meet us where we're at, adopt our tech, and our morally superior principles.

• Traditional financial institutions are fundamentally broken and beyond reform.

• Decentralization is a moral imperative, not just a technological preference.

• Code is law - human governance and intervention should be minimized.

• Privacy and self-sovereignty are non-negotiable rights in the digital economy.

• Crypto will inevitably replace fiat currencies as people recognize their inherent value.

• Regulatory compliance should be optional or built into protocols, not imposed externally.

• Success means creating parallel systems that eventually make traditional finance obsolete.

Constrained Vision

• Crypto is dead unless we actively pursue mass adoption,

• We must take the world as it is today as a given and adapt to the needs of the realized market.

• Regulatory compliance is necessary for mainstream adoption and longevity.

• User experience must match or exceed traditional finance to drive adoption.

• Incremental improvement of existing systems is more realistic than revolution.

• Security and stability are prerequisites for growth and should be prioritized.

• Partnerships with traditional institutions can accelerate adoption and integration.

• Education and accessibility are critical to expanding beyond crypto-native users.

• Success means becoming seamlessly integrated into the existing financial ecosystem.

Conclusion

These contrasting visions reflect fundamental philosophical differences about progress and transformation. The unconstrained vision seeks comprehensive reconstruction; the constrained vision favors incremental adaptation. Understanding these frameworks illuminates the ongoing tensions within crypto discourse.

Footnote: Framework adapted from Thomas Sowell’s 1987 book “A Conflict of Visions,” which proposes that political disagreements stem from different assumptions about human nature.