Bankless 112 - Into the Funtier | Packy McCormick
17 snips
Apr 4, 2022 
Packy McCormick, writer of "Not Boring" and investor at Not Boring Capital, dives into the playful side of crypto. He discusses the balance between fun and financial gain in the world of NFTs and Web3. Their conversation explores the evolving nature of cryptocurrencies like Bitcoin and Ethereum, igniting debates on their societal impacts. Packy also shares insights on the importance of community and practical usage over mere investment hype, while examining how social status dynamics shape online behaviors and the future of decentralized platforms.
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Packy's Bitcoin Regret
- Packy bought 38 Bitcoin at $100 each in 2013 after reading a Fred Wilson blog post.
- He later sold them for $150 each after a night out, regretting the decision ever since.
Renewed Interest
- Packy's interest in crypto was reignited by the emergence of real-world use cases built on Ethereum.
- NFTs and DeFi demonstrated the potential of a user-owned internet.
Ethereum as Internet Equity
- Packy views Ethereum as an investment and compares it to owning shares in the internet itself.
- Demand for ETH grows with Web3 adoption while its supply decreases and value accrues to holders.
