Garg: Privacy tokens like Monero have real utility unlike speculative ICO tokens
Avichal Garg · Crypto Investors - Linda Xie and Avichal Garg · Y Combinator · May 2, 2018 · at 6:47
Electric Capital managing partner Avichal Garg discusses crypto token utility and real-world usage on the Y Combinator podcast.
0:00 / 0:17exact quote · 17.9s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“I think private, privacy tokens are actually a thing. Like if you talk to a lot of people, hey, if XYZ thing went away, would you care about it? They're like, yeah, it would be kind of unfortunate if that went away, or I'd lose a lot of money because I was in the ICO. And then you talk to people and you say, well, would you miss it if Monero went away? And they're like, oh man, that would be really terrible, because I actually use Monero to do something.”
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 Avichal Garg
Garg: The biggest crypto winners will likely re-centralize in Silicon Valley
“I think you could have the inspiration for ideas come from underserved markets, but I wouldn't be surprised if the really big winners in crypto actually sort of re-centralize around Silicon Valley.”
Garg: ICOs are essentially a gambling use case
“In some sense ICOs are kind of the gaming use case, right? It's kind of like a gambling, it's a gambling use case, right? And like, that's actually kind of what's happening is people are just gambling as real money.”
Garg: Mainstream dApp adoption is probably 7 to 10 years away
“I think it's probably like seven to 10 years out for most of these. I think we're really, really early in most of these cases.”
Garg (2018): US regulators have been measured and smart about crypto
“I actually think the US government Has been really, really smart about this and pretty measured and sophisticated, because I think they understand there's a lot of potential for innovation here and a lot of value to be created and they don't want to crush that…”
Garg: The biggest risk in crypto is state adoption for surveillance
“I think the bigger and scarier potential risk is that governments fully embrace crypto in the wrong way.”
Garg: Crypto will go mainstream via invisible blockchain infrastructure
“At some point in like the next five years, it's not going to be that you're a crypto company, it's that you offer some value to the people who use your product, and it just so happens that you sit on top of blockchain, or you use crypto economics, or whatever …”