Prediction Held up AI assessment confidence: 95% certainty 3/5 debate potential 2/5

Tang: Bitcoin and Ethereum will coexist and serve distinct use cases

Eric Tang · 759: He Shares How He Built His Company On Top of Cryptocurrency Ethereum and Why · Aug 22, 2017 · at 10:14

Livepeer co-founder Eric Tang discusses whether new smart-contract blockchains will render earlier networks obsolete.

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“I think all of these blockchains will exist, will coexist. So it's not like Ethereum is going to exist and Bitcoin is going to go away. My personal belief is that Bitcoin has its use case, and so does Ethereum.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

More from Eric Tang

Assertion Contradicted
Tang: Livepeer is the only dApp video streaming solution in 2017
“If you are Creating a decentralized application, and you want to add video streaming to the application, there is right now really no solution to do that, because all the video streaming solutions are centralized solutions, and we are kind of, we're kind of th…”
Eric Tang Aug 22, 2017 ▶ 4:21 759: He Shares How He Built His Company On Top of Cryptocurrency Ethereum and Why
Insight
Tang: Governments can easily block centralized video services like Wowza
“If you want to build in video streaming into those applications you would have to use something like LiveSphere. Versus, wow, you couldn't use Wowza. Yeah, because the government will be able to figure out the IP of Lauza and block the service.”
Eric Tang Aug 22, 2017 ▶ 5:11 759: He Shares How He Built His Company On Top of Cryptocurrency Ethereum and Why
Insight
Tang: Token incentives align users to evangelize and grow network value
“The whole idea of the blockchain is that the participants are actually the stakeholders, right? So in a traditional application, if you use something like Facebook live, you know, you are used, you are a user of Facebook live, but that's it, right? As much as …”
Eric Tang Aug 22, 2017 ▶ 6:02 759: He Shares How He Built His Company On Top of Cryptocurrency Ethereum and Why
Insight
Tang: Bitcoin forks will fail because miners lack incentives to switch
“The reason they will not they will not be successful is because the Bitcoin blockchain now is so big that there are so many miners on the network that there is essentially no incentive for them to switch to a much smaller, newer network.”
Eric Tang Aug 22, 2017 ▶ 9:21 759: He Shares How He Built His Company On Top of Cryptocurrency Ethereum and Why
Insight
Tang: Excess mining capacity lowers decentralized infrastructure prices and drives adoption
“If you're spending up a bunch of miners, you're actually providing a lot of computation resources To the network. So for a network that works, that has the right incentives in place the network will leverage the access capacity that you provide to the network …”
Eric Tang Aug 22, 2017 ▶ 13:46 759: He Shares How He Built His Company On Top of Cryptocurrency Ethereum and Why
Insight
Tang: Crypto needs marketers to translate technical complexity for mainstream adoption
“In order for crypto to reach the mainstream, there's actually a huge need for people who are able to translate the complex complexity into simple languages. So for people who are native marketers, people like you, right? So there's a huge need for that skill.”
Eric Tang Aug 22, 2017 ▶ 16:10 759: He Shares How He Built His Company On Top of Cryptocurrency Ethereum and Why
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