Episode notes
“What I care about isn’t that Bitcoin succeeds, or that Ethereum succeeds, or that any specific project succeeds. What I care about is separating money from state; the entire financial system being built on market principles instead of coercion.”
— Erik Voorhees
Location: Remotely
Date: Tuesday 16th November
Project: Human Rights Foundation & ShapeShift
Role: Chief Strategy Officer & CEO, Founder
The schism between Bitcoin maximalists, and those who champion altcoins, is a feature of the ecosystem. The arguments are well worn. However, the history of the debate has largely been regarded as toxic.
Maximalists tend to believe that, at best, ‘altcoins’ are inferior iterations of Bitcoin that involve a compromise, usually greater centralization in favour of larger transaction capacity. The compounding issue is that the majority of these tokens are scams, efforts to rug pull ignorant retail investors. Either way, altcoins are neither aligned to, nor on a trajectory to align with, Bitcoin.
Altcoin advocates point to the rapid innovation happening in the space, where the TradFi is being disrupted in real-time. This is whilst the promise of Bitcoin being a foundational layer for DeFi remains just that, a promise.
In this interview, I discuss the ideological differences between Bitcoin and altcoins with Erik Voorhees & Alex Gladstein. We discuss the importance of Bitcoin, monetary policies, the political science of blockchains, and consensus & coercion.
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WBD425 - Show Notes
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