Bankless

67 - The Altcoin Slayer | Eric Wall

May 31, 2021
Eric Wall, CIO of Arcane Assets, is a renowned crypto thinker known for his contrarian insights. In this conversation, he discusses the evolution of crypto, emphasizing the importance of flexible thinking beyond tribal loyalties. He explores 'trustlessness' in digital currencies and draws intriguing parallels with biological systems. Wall critiques Bitcoin's limitations and applauds Ethereum's innovations, advocating for a more inclusive understanding of cryptocurrency. His journey reflects a deep engagement with decentralized finance and the transformative potential of these technologies.
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INSIGHT

Crypto as Digital Biology

  • Bitcoin resembles a primitive life form like a mushroom, consuming energy and providing censorship resistance.
  • Cryptocurrencies are in an evolutionary competition, stealing features from each other like in a digital Hunger Games.
ADVICE

Crypto Darwin Awards

  • Award a Darwin Award to crypto projects with central points of failure.
  • Centralization is bad.
ANECDOTE

The Altcoin Slayer's Exile

  • Eric Wall, initially embraced by Bitcoiners as the "altcoin slayer", was later shunned for praising Ethereum's layer-two solutions.
  • This experience led him to question the tribalism within the Bitcoin community.
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