When Shift Happens Podcast

chevron_right

E124: Ethereum Founder reveals why ETH has FAILED (and his solution to it)

Jun 6, 2025

Guest

Gavin Wood

Gavin Wood, co-founder of Ethereum and creator of Polkadot, candidly discusses why he believes cryptocurrency has faltered in its mission. He critiques Ethereum's Layer 2 approach and the proliferation of meme coins as distractions. Wood emphasizes the importance of self-custody and accountability in decentralized systems. He explores innovative governance models in blockchain and reflects on the need for fresh ideas to avert past mistakes. Lastly, he shares insights on balancing happiness with curiosity in both life and the crypto industry.

02:53:58

forum

Ask episode

web_stories

AI Snips

view_agenda

Chapters

menu_book

Books

auto_awesome

Transcript

info_circle

Episode notes

insights

INSIGHT

Polkadot vs Ethereum Vision

Polkadot's parachains were designed to outperform Ethereum by focusing on utility and sovereignty of chains.
Ethereum turning into mainly a Layer 1 roll-up host compromises its original product vision.

insights

INSIGHT

Crypto Assimilation Problem

Crypto has partially failed by assimilating into the establishment it was meant to challenge.
This transition signals a loss of original cypherpunk ideals and decentralization.

volunteer_activism

ADVICE

Value Utility Over Free Incentives

Pay fees willingly if the crypto product makes your financial life significantly simpler.
Ease of use and utility outweigh token farming and zero fees in user value.

Get the Snipd Podcast app to discover more snips from this episode

Building a Community and the Importance of Subscribing

01:27 • 2min

chevron_right

Navigating Crypto Cashback and Trust

03:20 • 8min

chevron_right

Emphasizing Self-Custody and Financial Sovereignty in Crypto

11:21 • 3min

chevron_right

The Importance of Self-Sovereignty and Accountability in Society

14:29 • 2min

chevron_right

Challenging Authority: The Road to Self-Sovereignty

16:02 • 23min

chevron_right

Rethinking Governance in Blockchain

39:29 • 11min

chevron_right

Swiss Voting Culture and Decentralized Governance

50:05 • 17min

chevron_right

Navigating Leadership in the Crypto World

01:06:42 • 21min

chevron_right

The Evolving Landscape of Currency

01:27:16 • 6min

chevron_right

Navigating Tech and Marketing Dynamics

01:33:41 • 16min

chevron_right

Exploring Ethereum and Polkadot: Parachains vs Layer 2 Solutions

01:49:37 • 31min

chevron_right

Navigating Challenges in Crypto Leadership

02:20:51 • 16min

chevron_right

The Paradoxes of Wealth and Well-Being

02:36:59 • 15min

chevron_right

The Pursuit of Happiness Through Curiosity and Fun

02:52:10 • 2min

chevron_right

The bitcoin standard

Saifedean Ammous

The Bitcoin Standard analyzes the historical context to the rise of Bitcoin, the economic properties that have allowed it to grow quickly, and its likely economic, political, and social implications. The book takes the reader on an engaging journey through the history of technologies performing the functions of money, from primitive systems to modern government debt. It explains the operation of Bitcoin as a decentralized, distributed piece of software that converts electricity and processing power into indisputably accurate records, allowing users to perform traditional monetary functions without relying on authorities or physical infrastructure. The book also explores common questions surrounding Bitcoin and its potential as a store of value and a network for final settlement of large payments, challenging government monopolies and offering a vision of money extricated from politics and borders.

The 48 laws of power

Robert Greene

In 'The 48 Laws of Power', Robert Greene and Joost Elffers synthesize three thousand years of the history of power into 48 laws. These laws are derived from the philosophies of Machiavelli, Sun Tzu, and Carl Von Clausewitz, as well as the lives of influential figures such as Henry Kissinger and P.T. Barnum. The book provides tactics, concepts, and lessons on how to achieve and maintain power, emphasizing prudence, confidence, and self-preservation. Each law is illustrated with historical examples and is designed to help readers understand and navigate the dynamics of power in various aspects of life, including work, social hierarchies, and politics.

Gavin Wood, co-founder of Ethereum, reveals why he believes crypto has fundamentally failed its original mission.

The man who helped build the world's second-largest cryptocurrency doesn't hold back about what went wrong.

From Ethereum's controversial Layer 2 approach to the rise of meaningless meme coins, Gavin explains how the industry lost its way.

__________________________________

PARTNERS

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST is a global financial platform that enables users to manage and spend stablecoins and cryptocurrencies using a Visa Card or Apple Pay. Available in over 100 countries: https://kastfinance.app.link/SHIFT

🔓 Trezor is the safest cold storage wallets for crypto security and financial independence.Buy your Trezor Wallet (use PROMO Code from the video for a 10% discount): https://trezor.io/?transaction_id=1026f18ed46409e495c6db4bff90ab&offer_id=133&affiliate_id=35356

🌱 Bitwise Asset Management is the crypto specialist asset manager with more than $10 billion client assets and more than 30 crypto solutions across ETFs, index funds, alpha strategies, staking, and more.https://bitwiseinvestments.com/

💧Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed to make digital asset ownership fast, private, secure, and accessible.https://sui.io/

🔘 Mantle Network enhances dApp development with Ethereum's security, low fees, and quick transactions through innovative layer-2 technology. Users can stake ETH for mETH, contributing to a transparent, community-driven ecosystem governed by $MNT token holders, fostering innovation and collaboration.https://www.mantle.xyz

★ Forza! is Coinsilium's Gibraltar-based Bitcoin treasury company. Coinsilium’s shares are traded on the Aquis Stock Exchange (AQUIS:COIN) and on the OTCQB in the US (OTCQB:CINGF). Find out more at https://www.coinsilium.com/

__________________________________

FOLLOW GAVIN WOOD

• Twitter: https://x.com/gavofyork

• Instagram: https://www.instagram.com/official.gavofyork

• LinkedIn: https://www.linkedin.com/in/gavin-wood-88843316/

• Website: https://gavwood.com/

__________________________________

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor.

Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

#Entrepreneurship #Crypto #news

__________________________________

0:00 Introduction

1:32 Please Subscribe

1:59 Partnerships

2:40 Spending Crypto with Kast

6:26 Stablecoins Are Just Banks

7:26 Regulation Destroys Web3 Vision

11:20 Self Custody with Trezor

14:27 Self-Sovereignty or Societal Collapse

15:59 Why I Stopped Trusting Systems

18:46 Attaining Self-Sovereignty

24:33 Rethinking the Social Contract

27:27 Network States Need Territory

33:09 Can Networks Work Together?

39:28 Why Blockchain Governance Is Broken

45:41 DAOs Are Just Better Governments

53:10 Turning Greed Into Alignment

56:07 Polkadot’s Mixed Governance Results

58:25 Polkadot’s Transparency Problem

1:11:57 From CEO To Architect

1:13:21 Defining Good for Polkadot

1:14:56 Letting Go Of Control

1:23:53 Polkadot Without Gavin Wood

1:26:58 Bitcoin as Digital Gold

1:31:44 Bitcoin: Swiss Bank In Pocket

1:33:33 Does Best Tech Always Win?

1:49:51 Ethereum L2s vs Polkadot Parachains

2:04:34 Multi-Core Elastic Scaling

2:10:08 JAM vs. Ethereum Explained

2:20:51 Is JAM Good For Polkadot?

2:22:33 Ethereum’s Layer Two Mistake

2:24:48 The L2 Power Grab

2:26:25 Has Crypto Failed?

2:32:02 Rebuilding Crypto’s Core Ethos

2:36:51 The Mixed Blessing Of Wealth

2:45:35 Dealing With Injustice

2:52:10 Curiosity Fuels Joyful Living

2:53:27 Concluding Remarks

Home Top podcasts Popular guests