Breaking Down the Fight Between Bitcoin and Web 3

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 9 January 2022

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This episode is sponsored by Nexo, Abra and FTX US. This week’s Long Reads Sunday features a reading of David Z. Morris’ “What Jack Dorsey’s Beef With ‘Web 3′ Is Really About” Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW - Nexo is a powerful, all-in-one crypto platform where you can securely store your crypto. Invest, borrow, exchange and earn up to 17% APR on Bitcoin and 20+ other top coins. Insured for $375M. Audited in real-time by Armanino. Rated excellent on Trustpilot. Get started today at nexo.io. - Abra is proud to sponsor The Breakdown. Join 1M+ users and Conquer Crypto with Abra, a simple and secure app where you can trade 110+ cryptocurrencies, get 0% interest loans using crypto as collateral, and earn interest with up to 14% APY on stablecoins and 8.15% APY on Bitcoin. Visit Abra.com to get started. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - “The Breakdown '' is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and Michele Musso, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Time” by OBOY. Image credit: Bloomberg/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:14.9	The breakdown is sponsored by nexo.io, Abra, and FTX, and produced and distributed by CoinDesk.
0:23.0	What's going on, guys? It is Sunday, January 9th, and that means it's time for Long
0:29.2	Reads Sunday. And we are back with a fun one to kick things off. First, though, if you are
0:35.7	enjoying this show, please go give it a rating, a review.
0:40.5	It's super, super important for helping grow the thing as crazy as that sounds. And if you want to get
0:46.2	deeper in conversation with other breakdown listeners, check out the Breakers Discord.
0:51.7	The link is in the show notes, or you can find it at bit.le slash breakdown pod.
0:57.4	And last up, a disclosure. In addition to them being a sponsor, I also work with FTX.
1:04.2	So today, for the first true Longreed Sunday of 2022, we are going back to the end of 2021 in a big, big kerfuffle
1:14.1	that started with Jack Dorsey and Chris Dixon, Jack Dorsey, of course, being the now
1:19.5	former CEO of Twitter and the current CEO of Square, and Chris Dixon being a managing
1:25.1	partner focused on cryptocurrency at A16Z.
1:29.1	To use the internet parlance, Jack woke up and chose violence over and over again.
1:35.7	And the question at heart is really this idea of Web3 and the incentives that underpin it
1:41.9	and whether it can actually make the change that it promises.
1:46.4	David Morris wrote a piece called what Jack Dorsey's Beef with Web3 is really about,
1:51.5	and I think it's a pretty awesome primer for this conversation.
1:55.4	Now, David's subtitle kind of gives you a sense of the flavor of his take,
1:59.6	and that's The Bitcoin-loving CEO's feud
2:02.5	with VCs is just the latest round of a fight that has been raging for nearly a decade,
	...

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