I agree with the PoV concept, but elites are coming around to crypto now that they realize dollars will be the foundation for DeFi globally, as DeFi requires stablecoins, and USDC/Tether/DAI are all backed by dollars or dollar equivalent assets.
Vietnam was not a guerrilla war. The North Vietnamese launched a traditional mechanized assault, and the US chose not to provide either financial or air support.
Vietnam had both 3rd-gen and 4th-gen (guerilla) warfare tactics and 4th-gen played a large role for the Viet Cong; it was a hybrid of both generations and was in many ways/fights a guerilla war.
the US persisted for a long time in large part motivated by embarrassment should they lose (the CIA admitted this in leaked papers). after dumping tons of resources and men into it they finally conceded and left.
some examples:
In the South, the Viet Cong fought a classic guerrilla war:
-Decentralized, non-uniformed fighters
-Small unit ambushes, sabotage, and hit-and-run attacks
-Blending into civilian populations
-Undermining local governance
-Using terrain (jungles, tunnels) for cover and strategic movement
Guerilla Tactics:
-Ambushes and hit-and-run attacks against patrols, convoys, and outposts
-Booby traps and landmines (e.g., punji sticks, improvised explosive devices)
-Sabotage of infrastructure, bridges, and logistics
-Nighttime raids to demoralize enemy and dominate rural control
-Sniper attacks from concealed jungle positions
Purpose: Avoid conventional engagement, survive superior firepower, and control territory invisibly.
Population Embedding:
Used by: Viet Cong and Norther Vietnam
-VC fighters blended into civilian populations, often living in villages
-Used local support networks for intelligence, shelter, and supplies
-Civilians were coerced or ideologically aligned, creating a dual-purpose village force
-VC often executed collaborators to maintain fear-based control
I think you’re missing one of the most important regimes that is not there with defi that does exist with fiat: the legal system and ability to enforce contracts. The American banking system provides all sorts of consumer protections that simply don’t exist with crypto because it’s inherently extra governmental. If I buy a product from someone in Japan and they never send it, I can usually get a bank to report the charges as fraudulent and take action against the non-sender. If I send them a fraction of a bitcoin to do the same what protections do I have? None. The trustless, extra regulatory aspect of defi is its strength but also a glaring weakness (along with its simple impracticality) that I think doom it to large scale irrelevance for the foreseeable future.
Amazing post.
thanks man
You established elsewhere that violence monopolies beget peace. What does it mean if crypto undermines US violence monopoly as you outline here?
I agree with the PoV concept, but elites are coming around to crypto now that they realize dollars will be the foundation for DeFi globally, as DeFi requires stablecoins, and USDC/Tether/DAI are all backed by dollars or dollar equivalent assets.
Vietnam was not a guerrilla war. The North Vietnamese launched a traditional mechanized assault, and the US chose not to provide either financial or air support.
Vietnam had both 3rd-gen and 4th-gen (guerilla) warfare tactics and 4th-gen played a large role for the Viet Cong; it was a hybrid of both generations and was in many ways/fights a guerilla war.
the US persisted for a long time in large part motivated by embarrassment should they lose (the CIA admitted this in leaked papers). after dumping tons of resources and men into it they finally conceded and left.
some examples:
In the South, the Viet Cong fought a classic guerrilla war:
-Decentralized, non-uniformed fighters
-Small unit ambushes, sabotage, and hit-and-run attacks
-Blending into civilian populations
-Undermining local governance
-Using terrain (jungles, tunnels) for cover and strategic movement
Guerilla Tactics:
-Ambushes and hit-and-run attacks against patrols, convoys, and outposts
-Booby traps and landmines (e.g., punji sticks, improvised explosive devices)
-Sabotage of infrastructure, bridges, and logistics
-Nighttime raids to demoralize enemy and dominate rural control
-Sniper attacks from concealed jungle positions
Purpose: Avoid conventional engagement, survive superior firepower, and control territory invisibly.
Population Embedding:
Used by: Viet Cong and Norther Vietnam
-VC fighters blended into civilian populations, often living in villages
-Used local support networks for intelligence, shelter, and supplies
-Civilians were coerced or ideologically aligned, creating a dual-purpose village force
-VC often executed collaborators to maintain fear-based control
I think you’re missing one of the most important regimes that is not there with defi that does exist with fiat: the legal system and ability to enforce contracts. The American banking system provides all sorts of consumer protections that simply don’t exist with crypto because it’s inherently extra governmental. If I buy a product from someone in Japan and they never send it, I can usually get a bank to report the charges as fraudulent and take action against the non-sender. If I send them a fraction of a bitcoin to do the same what protections do I have? None. The trustless, extra regulatory aspect of defi is its strength but also a glaring weakness (along with its simple impracticality) that I think doom it to large scale irrelevance for the foreseeable future.