The Bitcoin v Crypto War with Udi Wertheimer, Crypto Cobain, Alex Gladstein & Allen Farrington - WBD405

Mr Obnoxious

Peter McCormack

Technology, News, Politics, Money, Investing, Finance, Bitcoin

4.8 • 2.7K Ratings

🗓️ 4 October 2021

⏱️ 131 minutes

🔗️ Recording | iTunes | RSS

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Summary

Location: Remotely
Date: Wednesday 29th September
Company/project: Independent, Independent, Human Rights Foundation & Baillie Gifford
Role: N/A, N/A, Chief Strategy Officer & Investment Manager

The narrative around altcoins is constantly changing. However, one thing that remains consistent is that they almost always promise to 'improve upon Bitcoin' in one way or another. More often than not, this is improved layer one scalability, lower transaction costs or enhanced programmability.

While many of these projects can offer faster and cheaper throughput and smart contracts, they come at the cost of the most fundamentally important aspects of Bitcoin; security, decentralisation and censorship resistance.

Bitcoin maximalists often cite these reasons as to why all projects outside of Bitcoin are doomed to fail, but the market seems to think differently. Over short time frames, many of these altcoins can outperform Bitcoin and the opportunity to make quick gains draws in large amounts of retail investment regardless of premines, lack of product-market fit or whether a project is, in fact, meaningfully decentralised or not.

Bitcoin is designed to be the hardest money the world has ever known and to demonetise the state. To achieve this, it moves slowly, protecting its core principles at all costs. In stark contrast to this, Altcoins operate on a model similar to Silicon Valley, move fast and break things.

With growing concerns over a state-level regulatory crackdown on 'crypto', decentralisation is paramount. Bitcoin's decentralisation means it can survive almost any attack, but could altcoins survive without being meaningfully decentralised?

In this interview, I talk to Allen Farrington, Crypto Cobain, Udi Wertheimer, and Alex Gladstein. We discuss tokens and securities, scalability vs decentralisation, nation-state resistance, and building on Bitcoin.

Transcript

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0:00.0	On a long enough timeline, every single social, political, etc. pressure is going to be applied to test the strength of these systems and anything that's not strong enough will be
0:13.7	erased. Hello there from Miami, how are you all doing? I've left Nashville. I had such a
0:20.2	great time there, such an amazing city, but it's so cool to be back in
0:23.6	Miami I'm out here for the Human Rights Foundation's Freedom Forum so I do want to
0:27.8	give a big shout out to Alex Gladsstein who is also part of today's show but
0:31.6	just a big shout out and thanks to him for inviting
0:33.7	me to this incredible event and for everything he does for Bitcoin. Anyway,
0:37.9	welcome to the What Bitcoin did podcast which is brought to you by
0:40.5	Gemini, the only place I am using for buying Bitcoin. I'm your host
0:44.0	Peter McCormack and today I've got a massive show I've got Alan Farringdon
0:47.1	crypto-obeane, Udi Wertheimer, Alex Glazstein, all on because we're going to be
0:51.9	discussing the role of Bitcoin and Alt coins.
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	...

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