Cryptocurrency Protocols
topic on 2 shows · 5 statements across 4 episodes
the Startup Ideas Podcast 
the a16z Podcast
5 statements about Cryptocurrency Protocols, every show
Demirors: Every crypto protocol other than Bitcoin has centralized leadership
“Every other protocol has a central organizing entity. It has leaders, it has rulers, it has kings, it has monarchs, right? And they're all men. It has monarchs. Bitcoin is the only thing that doesn't have that structure, right?”
Carlson-Wee: Polychain invests exclusively in crypto protocols, not company equity
“So Polychain is an investment fund that invests exclusively in cryptocurrency protocols. We do not invest in the equity of private or public companies at all.”
Carlson-Wee: Almost no live crypto protocol has formal governance
“And right now, in pretty much every live system, there isn't a clear governance model. There's no formalization around how decisions are made or executed.”
Armstrong: Crypto won't have one dominant protocol, but several competing standards
“I think, ah, you know, now I think of it as a slightly different mental model, so it's not TCP IP that's one protocol to rule them all. There's gonna be a couple of these, you know, like Visa, MasterCard, Discover, or GIF, JPEG, PNG, if you wanna use an intern…”
Liu: Quasi-religious devotion was necessary to keep crypto alive
“There are a number of, I mean, it's almost religious how people kind of feel about their particular protocol or their sort of, or their project which in a way has been necessary in order to breathe life into the space and to keep it going from in 2008 until wh…”