Basically a litmus test will be when a gigantic brothel in Europe or a European country’s Caribbean district does a very public but permissionless capital raise, gets filled by retail, and pays dividends while shares being actively traded permissionlessly.
Thats when you’ll know the floodgates are open. Just given how much unwanted attention and publicity that will generate.
To me, its surprising it hasnt happened yet but I think now it is just a matter of time. Many services will take a second look when ownership by address is still concealed. Most crypto platforms do not offer that yet for shares/assets issued on their platform (ie. Monero has no ability to have fungible assets traded on it). Lightning Network has a theoretical but limited ability to do this. Bitcoin will have a greater ability to do this after its current inprogress upgrade goes live (taproot, schnorr) but not a complete solution out of the box even then.
You don't generally need to raise capital for sex work, and the problem there is having a physical location that will be raided if it's illegal.
To me, the important litmus test is when bitcoin gets definitively linked to a specific terrorist incident. Now, terrorism in the West is mostly out of fashion, except US rightwing extremists, because it's hard to have a death toll that anyone would notice over COVID, but that's not to say it won't happen in the future.
So the interesting thing about the chosen example is that the brothels already operate compliantly enough in a regulated environment but those environments typically are marginalizing them in a variety of ways such as with zoning and exchange listings.
There is definitely room for price discovery in that industry from an environment with free floating shares. It only takes an enterpriser getting a little greedy or an existing shareholder bundling up their stake in a fund.
Capital formation in the crypto markets rivals VC’s fiat activity, but it is mostly crypto native purchasers for crypto native infrastructure. The systems do work for trusted centralized physical establishments, and the regulatory environments typically just require notice in the state's register. Those societies are comfortable with private sector exchanges being the gatekeepers in how people raise capital and plan exits, and have not factored in the reality where they are completely circumvented and marginalized industries grow, compliantly, and very quickly.
Basically a litmus test will be when a gigantic brothel in Europe or a European country’s Caribbean district does a very public but permissionless capital raise, gets filled by retail, and pays dividends while shares being actively traded permissionlessly.
Thats when you’ll know the floodgates are open. Just given how much unwanted attention and publicity that will generate.
To me, its surprising it hasnt happened yet but I think now it is just a matter of time. Many services will take a second look when ownership by address is still concealed. Most crypto platforms do not offer that yet for shares/assets issued on their platform (ie. Monero has no ability to have fungible assets traded on it). Lightning Network has a theoretical but limited ability to do this. Bitcoin will have a greater ability to do this after its current inprogress upgrade goes live (taproot, schnorr) but not a complete solution out of the box even then.