Bankless 24 - Exploring the Frontier | Erik Voorhees
Aug 3, 2020
Join Erik Voorhees, CEO of Shapeshift and a crypto pioneer, as he navigates the bankless frontier. He shares his journey in cryptocurrency since 2011 and champions self-sovereignty over fiat. Discussing the fallacies of Bitcoin maximalism, he delves into the implications of national debt on fiat currencies. Erik explores the clash between central planning and capitalism, highlighting cryptocurrencies as viable alternatives. He also anticipates upcoming trends and price predictions for Ethereum and Bitcoin, offering insights on transitioning to a decentralized financial future.
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Early Bitcoin Adoption
- Erik Voorhees joined Bitcoin in May 2011 when its price was $5 and the market cap was $50 million.
- Despite the seemingly delusional nature of Bitcoin's potential back then, he recognized its potential to become a new financial system.
Crypto's Growing Diversity
- Crypto's user base has diversified significantly since its early days, moving beyond engineers and libertarians.
- This broader adoption contributes to crypto's strength and camouflage, making it harder to suppress.
Separation of Money and State
- Tying money to a nation-state is dangerous, similar to controlling mathematics or language.
- Crypto, like Bitcoin, enables borderless money, detaching it from national boundaries.