The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC Crypto Roundtable: How Will US Elections Impact Crypto? Why Will Trump Lean Into Crypto in 2024? Should FTX Investors Have Known About SBF? Will Opensea Ever Be Worth $13BN Again? Will NFTs Come Back with Kyle Samani and Nick Tomaino
Jan 8, 2024
Kyle Samani, co-founder of Multicoin Capital, and Nick Tomaino, founder of 1confirmation, dive into the intersection of crypto and politics ahead of the 2024 elections. They discuss the aftermath of the FTX scandal, questioning if investors should have seen the red flags. The guests ponder whether Trump’s potential impact on crypto could lead to legislative cronyism and explore the future of NFTs and the shifting landscape of investment motivations within the crypto realm. A lively debate on the evolution from speculation to sustainable economic empowerment ensues.
AI Snips
Chapters
Transcript
Episode notes
Crypto Speculation: A Double-Edged Sword
- Crypto speculation is positive because it empowers those disenfranchised by traditional systems.
- Excessive speculation, driven by greed, can be detrimental, as seen with FTX, Luna/Terra, and 3AC.
Crypto Shilling: A New Form of Tribalism
- Shilling, like tribalism, is human nature, seen in countries and religions, often leading to conflict.
- Crypto shilling, while potentially toxic in excess, can reduce real-world violence by shifting tribalism to economic incentives.
Solana's Criticism: Lack of Novelty
- Solana receives criticism due to tribalism and being perceived as a threat to Ethereum.
- It lacks unique social innovation, primarily offering faster, cheaper transactions and copying Ethereum's features.