Invest Like The Best
Episode 58 Hash Power – Part 3
Invest Like The Best

Episode 58: Hash Power – Part 3

Hash Power – Part 3

With various investors and players in crypto as our guides, we cover regulation and storage of cryptos, forking in blockchains, and the need for increased security in cryptos.

This episode is brought to you by:

Fidelity Investments. Fidelity is a company that is constantly researching and experimenting with emerging technologies, like crypto assets and blockchain, to improve the lives of their customers. Fidelity provides a comprehensive set of products and services to individual investors, employers, and financial advisory firms.

[00:00:05] – Intro to episode 3 and what to expect

[00:04:00] – Olaf Carlson-Wee, founder of Polychain, on how the funding and investing in cryptocurrencies could easily get out of hand

[00:05:00] – How people are creating holding companies to fund cryptocurrencies protocols

[00:06:45] – Decentralized Autonomous Organization (DAO) and how they will replace the aforementioned holding companies

[00:08:32] – Could fully decentralized organizations replace other more traditional organizational structures, even outside of cryptocurrency

[00:09:59] – How can DAO’s impact everyday lives

[00:12:39] – Why your skills and accomplishments will become more important than who you are or where you are from

[00:16:09] – Naval Ravikant, CEO of Angellist, on the way humans cooperate and build new entities

[00:17:51] – When people will demand oversight and regulation over cryptocurrency

[00:20:42] – Peter Van Valkenburg, Director of Research at Coincenter on the current state of regulation

[00:26:06] – Jameson Lopp on security needed to protect your cryptocurrency

[00:27:51] – Ari Paul, co-founder of Blocktower, on how nail polish is used to protect their crypto wallet

[00:30:03] – Juan Benet explains the Filecoin Protocol

[00:35:52] – Muneeb Ali, co-founder of Blockstack, on how his team is planning to provide basic tools that will allow the broader developer community to build apps that the cryptocurrency population will use

[00:38:01] – Comparing blockstack to the analogy of creating a city

[00:40:17] – How the blockstack token fits into everything

[00:43:15] – Fred Ehrsam, co-founder of Coinbase, on forking in blockchains

[00:47:52] – Naval Ravikant on how the idea of work will change in the future, and how that change helped to produce the idea of a blockchain in the first place

[00:49:31] – Why curiosity should govern what you do in life

[00:53:22] – Naval’s framework for making money

Hash Power – Part 3

Introduction

Patrick
In episodes one and two of Hash Power, we explored blocking technology and cryptocurrency investing. In this episode, we discussed the current and potential future states of the crypto world. We cover new forms of cooperation, regulation, security and storage and why blockchains allow systems to evolve at such a rapid pace. Be sure to listen until the end where we close with some advice about conducting ourselves in a new world where creativity reigns and repetitive jobs disappear, a trend that may only accelerate thanks to blockchain technologies and cryptocurrencies.

Patrick
As I said in the first two episodes of Hash Power, nothing that you hear in this episode is investment advice. If you plan on deploying capital into crypto assets, you should spend months reading and exploring the topic first and consider the risks carefully. This past Thursday, as a result of this deep dive into cryptocurrencies, I had the chance to sit and have dinner with a group of investors and engineers who are leading blockchain development. This movement sometimes inspires an almost religious fervor in its supporters, and while I could sense passion in the discussion, what I noticed most was how deeply each and every person there had thought through the potential issues facing blockchain in the future. No one there had any doubt that the impact of this new technology will prove immense, but I was impressed with the realism and pragmatism on display. There were lively back-and-forth debates about complicated topics like blockchain governance, developer compensation, emergent technologies, and the velocity of cryptocurrencies and how it might affect their value. This movement is full of brilliant engineers, cryptographers, investors, economists and thinkers, but if what I saw Thursday was any indication, it's also filled with new leaders. I've been blown away by the people you've heard so far in Hash Power and by those you'll hear from for the first time today. We hinted at how innovation in blockchain may happen faster than elsewhere. This is because of two phenomena, funding and forking.

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