Supply Shock Bitcoin Ossification Is a Threat to Its Survival | Eli Ben-Sasson
Jul 22, 2025
Eli Ben-Sasson, Co-founder of StarkWare, dives deep into the crossroads of Bitcoin and Ethereum. He discusses the limitations of Bitcoin’s structure, arguing that a lack of flexibility threatens its innovation potential. Eli champions the integration of zero-knowledge proofs to enhance Bitcoin's scalability while preserving its core principles. He also explores the cultural tensions within the Bitcoin community, the need for more experimentation, and the implications of governance challenges. This conversation offers a fresh perspective on Bitcoin's future in the evolving crypto landscape.
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Early zk-tech Hope on Bitcoin
- Eli Ben-Sasson shared that he and others were naive in 2013 about deploying zk-tech on Bitcoin.
- He revealed that political and technical dynamics have prevented such innovations on Bitcoin so far.
Bitcoin's Asset vs. Usability
- Bitcoin's value as an asset is well established but is mostly accessed by the wealthy through third parties.
- Everyday users struggle to self-custody Bitcoin due to cost and usability barriers.
Ethereum's Societal Contribution
- Ethereum pioneered smart contracts demonstrating immense societal benefits through experimentation.
- Eli respects Ethereum's innovation and rejects the narrative it's a scam or failure.