Cryptocurrency and Ea Theory Moves to Proof Stake

Haseeb Qureshi (@hosseeb), managing partner at Dragonfly Capital, joins Erik for an episode of our Web3 series. Takeaways:

- This bear market is driven by macro factors rather than endogenous ones.

- It turns out crypto is in fact correlated with other assets, largely because in 2020 institutions started buying crypto.

- Projects searching for yield in a yield-starved environment drove growth in crypto. That may change with rising interest rates.

- Adoption will drive the next chapter of crypto. Gaming and NFTs will lead the way.

- Sometimes boring, stable governance is best. ETH has that today. It’s like Manhattan — it’s old and kind of pricey, but it’s the most important place that things are happening today.

- Governments could ban Bitcoin, but they haven’t, likely because it’s not actually all that threatening to them.

- Blockchains are like cities. They each have their own unique and vibrant cultures.

- More decentralization is not always better in practice.

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