The "What is Money?" Show

An Inquiry into Decentralization with Erik Voorhees (WiM083)

Dec 2, 2021

02:07:41

Creator website

AI Summary

Highlights

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Shapeshift is transitioning to a completely open-source platform and decentralizing its governance model through the FOX token.

Decentralized organizations like Shapeshift eliminate bureaucratic hurdles associated with traditional hiring practices by offering voluntary contractual arrangements and enforcing accountability through smart contracts.

Decentralized Autonomous Organizations (DAOs) empower individuals by providing a transparent, fair, and accountable decision-making process, fostering innovation and competition in various industries.

Deep dives

Shapeshift's Evolution and Decentralization

Shapeshift started in 2014 as a non-custodial exchange for digital assets, allowing users to trade one asset for another without creating an account or undergoing KYC. However, in 2018, regulatory concerns led to the implementation of KYC and the loss of a majority of customers. In recent years, with the rise of decentralized finance (DeFi), the non-custodial exchange model has resurfaced. Shapeshift integrated decentralized exchanges (DEXes) into its platform, but most were limited to Ethereum-based assets. With the launch of Thorchain, an interoperable DEX, Shapeshift was able to decentralize its entire trading platform and remove KYC requirements. The company is currently in the process of decentralizing its corporate structure, dissolving the Shapeshift corporation and shifting to a decentralized governance model enforced through the FOX token. This decentralization journey is ongoing, but the aim is to fully decentralize Shapeshift.

Decentralized Exchange

02:37

Bitcoin Maximism

03:25

Is Bitcoin Market Proven?

02:41

Introduction

5min

The Purpose of Decentralization

5min

Is Etherium Decentralized?

4min

Is the Dow Hak of a Theorium a Proof of Decentralization?

5min

Code Is Law, Right?

2min

Is Bicoin Hard Forked?

4min

Is Eath a Cryptocurrency System or a Bitcoin?

2min

Is Bitcoin Market Proven?

3min

Decentralized Exchange

3min

10.

Can the Government Shut Down Decentralized Exchanges?

2min

11.

Etherium Corp Development Team - Could They Stop the Decentralized Exchanges?

2min

12.

The Social Contract Is More Divisible Than on Bit Coin

2min

13.

Etherium and Cryptocurrency Are Competing for Just One Market

3min

14.

The Problem Is the Ultra Sound Money Narrative

5min

15.

The Store of Value Function of Money

3min

16.

Is Bitcoin the Greatest Investment of All Time?

2min

17.

Is the Lightning Network a New Asset Class?

3min

18.

Is the Theorium More Decentralized Than Bicoin?

2min

19.

I'm Not Sure if It's Custodial or Not.

2min

20.

Nidig - The Most Important Bit Coin in the 20th Century

4min

21.

The Rise of Decentralized Exchanges in Shapeshift

3min

22.

The Shapeshift Platform Is Going to Zero, Right?

2min

23.

How to Decentralize the Work of a Company

4min

24.

Is It Still Sheepshift?

2min

25.

Cryptocurrency and Censorship Resistance

3min

26.

Is There a Way to Decentralize Cryptocurrencies?

2min

27.

Ido Maker

3min

28.

Decentralization

2min

29.

How Does the Voting Work?

3min

30.

Decentralization Is a Trend, Isn't It?

5min

31.

Politicians in Cryptocurrencies?

3min

32.

Is It Open Source or Public?

2min

33.

Uni Swap

2min

34.

Is There a Generating Problem With Fox Tokens?

3min

35.

What Should We Do About This?

3min

36.

Is Everything That Isn't Bitcoin a Scam?

2min

37.

Is Ascam a Scam?

2min

38.

Bitcoin

3min

39.

Bitcoin Maximism

3min

40.

What Is the Utility Value of Ethereum?

3min

41.

Is There a Utility of Etheorium?

2min

42.

Is the Issue of the NFT on Bitcoin?

2min

43.

Cryptocurrency

3min

44.

Decentralized Social Media, Et Cetera?

2min

45.

Is There So Much Like Potato Chipped Content Out There?

2min

46.

Bicoin and the Sheepshift

2min

Erik Voorhees joins me to explore the nature of decentralization.

Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/

GUEST
Erik’s Twitter: https://twitter.com/ErikVoorhees
Erik’s Company: https://shapeshift.com/

PODCAST
Podcast Website: https://whatismoneypodcast.com/
Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400
Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1
RSS Feed: https://feeds.simplecast.com/MLdpYXYI
Transcript:

OUTLINE
00:00:00 “What is Money?” Intro
00:00:08 How Do We Determine Decentralization?
00:06:09 Decentralization is Solely for Censorship-Resistance?
00:09:24 Does Ethereum’s Pre-mine Prohibit its Decentralization?
00:13:08 The Ethereum Post-DAO Hack Fork
00:17:57 “Code Is Law”
00:22:07 Ethereum Is Not Money; It Is Liquid Venture Capital
00:26:50 Is Ethereum Market-Proven?
00:28:33 Is Decentralized Exchange a Valid Use Case?
00:35:43 The Indivisibility of the Bitcoin Social Layer
00:37:57 What is the Total Addressable Market for Ethereum?
00:41:00 The “Ultra-Sound Money” Narrative
00:46:33 The Store of Value Marketplace Dynamics
00:51:30 Is Lightning Network Decentralized?
00:56:53 NYDIG
00:58:00 What is Shapeshift?
01:04:22 Where is Shapeshift on the Path to Decentralization?
01:10:14 What are Decentralized Autonomous Organizations (DAOs)?
01:15:45 Current Law Does Not Contemplate the Existence of DAOs
01:19:10 Are Other Organizations Pursuing the Path of Decentralization?
01:23:09 The Governance Model of Shapeshift DAO
01:27:21 Why Not Build All DAOs on Bitcoin?
01:30:55 The Non-Coercive Politics of Decentralized Protocols
01:38:40 ICOs and Self-Regulation
01:43:19 Can Self-Regulation Work in Practice?
01:52:30 What is the Utility Value of Ethereum?
01:59:23 What is the Endgame of Bitcoin and Decentralization?

SOCIAL
Breedlove Twitter: https://twitter.com/Breedlove22
WiM? Twitter: https://twitter.com/WhatisMoneyShow
LinkedIn: https://www.linkedin.com/in/breedlove22/
Instagram: https://www.instagram.com/breedlove_22/
TikTok: https://www.tiktok.com/@breedlove22?lang=en
All My Current Work: https://linktr.ee/breedlove22

WRITTEN WORK
Medium: https://breedlove22.medium.com/
Substack: https://breedlove22.substack.com/

WAYS TO CONTRIBUTE
Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7
Sats via Strike: https://strike.me/breedlove22
Sats via Tippin.me: https://tippin.me/@Breedlove22
Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove
Dollars via Venmo: https://venmo.com/code?user_id=1784359925317632528
The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=true

RECOMMENDED BUSINESSES
Worldclass Bitcoin Financial Services: https://nydig.com/
Join Me At Bitcoin 2022 (10% off if paying with fiat, or discount code BREEDLOVE for Bitcoin): https://www.tixr.com/groups/bitcoinconference/events/bitcoin-2022-26217
Put your Bitcoin to work. Earn up to 6% interest back on Bitcoin with Tantra: https://bit.ly/3CFcOmg
Automatic Recurring Bitcoin Buying: https://www.swanbitcoin.com/breedlove/
Buy Bitcoin in a Tax-Advantaged Account: https://www.daim.io/robert-breedlove/
Home Delivered Organic Grass-Fed Beef (Spend $159+ for 4 lbs. free): https://truorganicbeef.com/discount/BREEDLOVE22

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

The "What is Money?" Show

An Inquiry into Decentralization with Erik Voorhees (WiM083)

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Shapeshift's Evolution and Decentralization

Shapeshift becoming open source and governed by token holders

The elimination of bureaucratic hurdles in decentralized organizations

The power of decentralized organizations and their potential impact

Challenges and controversies in the decentralization movement

Decentralized Exchange

Bitcoin Maximism

Is Bitcoin Market Proven?

Get the Snipd
podcast app

AI-powered
podcast player

Discover
highlights

Save any
moment

Share
& Export

AI-powered
podcast player

Discover
highlights

The "What is Money?" Show

An Inquiry into Decentralization with Erik Voorhees (WiM083)

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Shapeshift's Evolution and Decentralization

Shapeshift becoming open source and governed by token holders

The elimination of bureaucratic hurdles in decentralized organizations

The power of decentralized organizations and their potential impact

Challenges and controversies in the decentralization movement

Decentralized Exchange

Bitcoin Maximism

Is Bitcoin Market Proven?

Get the Snipdpodcast app

AI-poweredpodcast player

Discoverhighlights

Save anymoment

Share& Export

AI-poweredpodcast player

Discoverhighlights

Get the Snipd
podcast app

AI-powered
podcast player

Discover
highlights

Save any
moment

Share
& Export

AI-powered
podcast player

Discover
highlights