Unchained Dragonfly Capital on Why Ethereum Is So Far in the Lead - Ep.153
Jan 7, 2020
Haseeb Qureshi, managing partner at Dragonfly Capital and former professional poker player, and Alex Pack, founding partner with a venture capital background, delve into the cryptocurrency landscape. They discuss why Ethereum leads the smart contract race and the challenges facing protocols like Bitcoin. Haseeb draws parallels between poker and crypto trading, emphasizing risk management. They also analyze the influence of the Libra project on investments, the future of Bitcoin as a store of value, and the potential decline of traditional banking in favor of decentralized finance.
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Poker and Crypto
- Haseeb Qureshi's path to crypto started with professional poker at 16, similar to young crypto traders today.
- He sees poker as a hustle for smart people avoiding the beaten path, much like crypto now.
Crypto's Real-World Use Cases
- Alex Pack's interest in crypto grew after seeing its real-world applications in Asia, where many are underbanked.
- Witnessing crypto solving problems for these users highlighted its potential beyond Western affluent circles.
Crypto Investing vs. Traditional VC
- Crypto investment differs greatly from traditional VC due to the dynamic nature of the asset class and value accrual to protocols.
- It's too early to predict long-term market behavior, requiring investors to remain flexible and adaptable.