Read on Twitter
I'm declaring a truce on #bitcoin 
. The global governance response to the COVID pandemic has been atrocious and exposed the fact that a large swath of the political class is criminal. People are dying, families are suffering, and very few governments were prepared.
1/
. The global governance response to the COVID pandemic has been atrocious and exposed the fact that a large swath of the political class is criminal. People are dying, families are suffering, and very few governments were prepared.1/
I am an #ethereum maximalist. I have spent the past six years of my career helping to establish the Ethereum ecosystem because I believed that a general purpose compute layer for blockchain systems would enable a new wave of innovation for this technology.
2/
2/
We've come a long way as an ecosystem. #bitcoin maximalists kick, scream, and FUD the ETH community for a plethora of reasons. The irony is that in the earliest days of BTC, many of those same voices were clamoring for revolutionary use cases using blockchain technology.
3/
maximalists kick, scream, and FUD the ETH community for a plethora of reasons. The irony is that in the earliest days of BTC, many of those same voices were clamoring for revolutionary use cases using blockchain technology.3/
I don't think that Ethereum is undeserving of critiques - it's got flaws. Every technology on the planet has flaws and deserves robust discussion and discourse. However one of the core tenets of this revolution is permissionless innovation.
4/
4/
It's through many experiments that we find value and new ways for peoples to find meaning in their lives. Coming back to COVID and Governments: we could have had a more effective response. Our leaders lied to us by saying don't wear masks, and then changed course much later.
5/
5/
This is just one example of a terrible mistake in the lack of preparedness of our systems. As a result, society has to bare a tremendous burden. The printing machine go BRRRRR meme was funny, but underneath it all it is very terrifying.
6/
6/
We're still in the early innings of the impact and fallout from COVID as well as the fiscal response to COVID.
7/
7/
Bitcoin, for better or for worse, has a hardline, conservative stance with a fixed supply cap, an extremely limited scripting language and a focus on pure Proof of Work consensus.
I do not believe these design choices are fruitful grounds for a robust experimentation.
8/
I do not believe these design choices are fruitful grounds for a robust experimentation.
8/
What I do believe they will prove to be extremely valuable for the future of society.
Today's legacy markets are in complete and utter disarray. Down is up, and up is down. Government is unrestrained and printing money at unprecedented pace.
9/
Today's legacy markets are in complete and utter disarray. Down is up, and up is down. Government is unrestrained and printing money at unprecedented pace.
9/
I have long said "blockchains have geopolitical consequences" and I believe this to be true more than I ever have before.
In a regime driven by corruption, the only solution is more freedom. Freedom of expression, freedom of money.
10/
In a regime driven by corruption, the only solution is more freedom. Freedom of expression, freedom of money.
10/
#Bitcoin represents a Schelling point on a different way for society to organize its resources. A digitally native, globally distributed, democratic means of creating value.
11/
represents a Schelling point on a different way for society to organize its resources. A digitally native, globally distributed, democratic means of creating value. 11/
Our post COVID world is going to be different than the one we were living in prior to the pandemic. Can you remember a time before cell phones? Before the internet? Before Twitter or Instagram? You probably can, but it's a picture that fades over time.
12/
12/
Similarly our pre COVID universe will look completely different to the disruption that is ahead of us.
#bitcoin's 21mm fixed cap represents one stake in the ground in the future of money. Ethereum presents an alternative path.
13/
#bitcoin
's 21mm fixed cap represents one stake in the ground in the future of money. Ethereum presents an alternative path. 13/
Things like $AMPL, $YAM or $BASED are bleeding edge, high risk experiments which users should recognize can backfire very quickly, but they are incredibly fascinating to watch.
One thing is clear. Human civilization will only have more technology as time progresses.
14/
One thing is clear. Human civilization will only have more technology as time progresses.
14/
Web3 is a growth industry that will swallow old, inefficient, bureaucratic, unfair systems with new, digital, trust minimized, censorship-resistant egalitarian ones. It won't be perfect (it never is) and there will be booms and busts along the journey.
15/
15/
We are all in this together. There's no going backward. Earlier this year @pmarca said "It's Time to Build" ( https://a16z.com/2020/04/18/its-time-to-build/) and I can't agree more.
Let's build web3 to be a growth engine for the betterment of our global society.
fin/
Let's build web3 to be a growth engine for the betterment of our global society.
fin/
