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The Breakdown

What Future Are We Building Bitcoin For?

The Breakdown

Blockworks

Investing, Business

4.8786 Ratings

🗓️ 2 August 2020

⏱️ 12 minutes

🧾️ Download transcript

Summary

Bitcoin started as a rebellious, anti-establishment technology. In many parts of the world, and for many people, it remains exactly that.  At the same time, however, there is a wave of traditionalists and institutional players moving into the space.  Are they buying into the revolution, or are they trying to capture value while fitting the disruption into a box that maintains the current power structure they lead?  Those are the key questions explored by Meltem Demirors in her new essay “Unintended Architecture.” The piece is our selection for this week’s “Long Reads Sunday.”

Transcript

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0:00.0

Welcome back to The Breakdown with me, NLW.

0:08.2

It's a daily podcast on macro, Bitcoin, and the big-picture power shifts remaking our world.

0:15.2

The breakdown is sponsored by crypto.com, BitStamp, and nexo.io, and produced and distributed by CoinDesk.

0:24.8

What's going on, guys? It is Sunday, August 2nd, and that means it's time for Long

0:30.2

Reads Sunday. For this Long Read, I've chosen a recent post by Meltem DeMirers, and really,

0:37.3

I think the theme here is asking an important

0:40.3

question which can get lost really easily, especially in the swirl of excitement around

0:45.9

price action, like we've had this past week. And that question is simply, what is the future

0:51.7

that we're trying to build Bitcoin for? How do we want the future that

0:56.2

we are building this whole new system to enable to be different from the one that we live in now?

1:02.7

How do we design in such a way that we avoid the traps and the capture that happened in the

1:07.7

system, the things that made us want to build this different alternative

1:11.2

in the first place. Some of these questions seem obvious, but they're actually incredibly

1:15.2

difficult, especially as more capital flows into the space, as more power aligns with the space.

1:21.8

Those things can be good, but you also have to understand, we have to understand, that with that power and with that

1:28.8

new capital comes the possibility of capture and co-optation and basically a continuation of

1:35.4

exactly the same power structure that we have now. It's a great little post and I hope you

1:40.9

enjoy it. Unintended Architecture. What we desire is what we build is what we

1:46.5

become. Recently, I've been taking little moments to explore a different side of New York, the city I've

1:51.9

called home for the last six years. When you see a city empty of people, you begin to understand the

1:56.8

importance of architecture. You get to see the bones of the city, and you begin to understand

2:00.9

what gives the flow of people shape, rhythm, and energy. You see, what we imagine becomes what we

...

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