[AUDIENCE] Hi Andreas. I will try to not fan-boy out here.
[Laughter] Quick question. I’m in the space since 2016. Since the last influx [of new people in] 2017,
I feel like there was a movement [of debate]… about Bitcoin versus Ethereum. I personally appreciate their differences.
I like them both individually for what they are. However, I feel there is this very antagonistic [attitude],
“My crypto is better than your crypto because…” I don’t think that is healthy for the ecosystem,
and you have spoken [positively about] Ethereum… for certain reasons, as well as
pro-Bitcoin for certain reasons. I want to ask you about how you envision them
potentially working together symbiotically? Do you feel this antagonism might
be hurting the crypto community? [ANDREAS] That is a great question. I think this
is a natural consequence of human behavior. We are tribal in nature.
We will create in-groups and out-groups. Then, as soon as our in-group becomes
successful, those who thrive on being… the underdog create an inner in-group, and call
the [broader] in-group heretics for not following… the “true vision” of the founder-messiah. Whatever, right? The revolution has barely succeeded
when the counter-revolution arises from within. We have seen that happen in Bitcoin and Ethereum. The funny thing is, each wave has barely started
before it finds another wave right on its back. The Ethereum maximalists will say,
“The Flippening is happening!” “We will do everything Bitcoin does, only better.”
Then somebody comes up behind them and says, “EOS!” [Laughter] “Where did you come from?”
“We are the next Ethereum.” “Huh? We’re trying to beat-” The cycle repeats. “You are not representing the true vision of Bitcoin.
We will represent the true vision with Bitcoin Cash!” And what is happening in a month?
Oh, there is an even truer “true vision”… that will fork off the true vision. [Laughter] [Applause] I have no problem with any of this. This is natural.
This is a process of mutation, fragmentation, bifurcation, and consolidation that is part of evolution. It is wonderful that we have in a dynamic, vibrant, and
ideologically motivated open-source environment… where people can try out new ideas. If I don’t like the way you have [implemented] the
idea we worked on together, I will pick up my ball… and go start my own game. In open-source, we can have lots of balls
and games going on at the same time. Even better, we can learn from anything that
somebody else invents, and apply it ourselves. If we have the vision, flexibility of thought, openness
to new ideas, and the ability to overcome doctrinaire. If we are ossify in our positions, we lose out. Then the question is, what happens next? When does
this [arguing] stop? I will tell you exactly when it stops. Within this room, there are factions:
Bitcoin weirdos, Ethereum weirdos, Bitcoin Cash weirdos, EOS weirdos… there might
be some Tron people here, I don’t know. [Laughter] There is a lot of variety in here. But here is the news:
to everyone outside, we are all just the same weirdos. [Laughter] [Applause] When it comes to the banks and the ‘very serious’
economists who think they are saving the world… from “terrorism” and “money laundering,” to regulate
“for your own good,” applying all of their protectionist, instincts to nanny you into safety, to make sure you
do not succumb to the temptation of free expression.. or anything like that. To them, we are all weirdos. Not just weirdos. To them,
we are dangerous, radical, perverse, terrorist weirdos… who decided that laws and regulations don’t matter. [To them], we will destroy the order and
goodness of society if we have our way. What happens next? At some point, a backlash
comes that will not discriminate between… “Oh no, we are just a virtual machine for
smart contracts that is Turing-complete.” They will say, “Weirdo! Get him!” [Laughter]
They will try to round up all of the weirdos. They will attack any system that tries to deviate from
the orthodoxy of carefully regulated financial systems… which, most importantly,
allow for their parasitic behaviors. We will suddenly have a “Kum ba yah” moment where we
re-unite in brotherhood around our [shared] weirdness, and realize once again that there is an enemy here. It is a parasitic system which dominates
the lives of 99% of the human population. We just want to do something different. We want to have
a choice. For that [aspiration], we will be ostracized. We will be called names, like “terrorists,”
“drug dealers,” “pedophiles,” “pornographers.” [People] in this room [will be accused of]
using “the anonymous dark web money.” They will not discriminate, so we will come together
and see moments of coalition when we are attacked. Just like with any population.
If you want world peace, then hope for aliens. [Laughter] That is the only way… [ANDREAS] Store-of-value or medium-of-exchange.
First of all, this is a Bitcoin-only question. Among other things, we [should be thinking about] the
idea that crypto is more than just money applications. There are plenty of [cryptocurrencies]
where the primary application is not money. We need to keep that in mind when we [become]
too focused on our side of the tribe, right? That is how you [create] schisms [in religions]. Do you know anything about religions
in the United States? Probably not. When I first arrived there, I found all of these
churches that were called [something like]… the United Seventh-Day Reformed Secondary Methodists
of Evangelical Post-Modern Protestants. [Laughter] I say, “I have never heard of this one. Tell me more!”
[Laughter] Inevitably, you hear a story like this: “Well, you know how there were two fishes and
five loaves [that Jesus blessed for His disciples]?” “In 1783, some heretics in our church decided that
it was actually five fishes and two loaves of bread.” “That is when we had a schism from the
non United Seventh-Day Reformed Secondary.. Methodists of Evangelical Post-Modern Protestants,
and we found the true path.” [Laughter] I would ask, “Is that really an important position
of doctrine? I mean, how big is your church?” “There are only six hundred of us throughout the
United States, but at least we have found the truth.” “So what happens to everybody else?”
“Oh, well, they go to hell!” [Laughter] Can we not do that in crypto? Can we not?
Because to everybody on the outside, it sounds like we are all on the same side.
“You are those weird people with the blockchains.” They don’t know the difference between [us].
If you try to give them a doctrinal approach… I am tired of these doctrinal questions about
what is the correct or true ‘Church of Bitcoin.’ Is it a store-of-value or a medium-of-exchange?
Maybe it is different for me than it is for you. Maybe today it is one thing, then different tomorrow.
In the end, who cares? Try both. See which one works. To all of the people outside, we are all
just the blockchain weirdos. [Laughter] [Imagine] siting down with someone who asks, “I heard
you are involved in ‘blockchain.’ What do you do?” You say, “I am involved in Ethereum Classic.” Of course, as you know,” (they don’t) “Ethereum Classic
is the one that maintains the immutability principle… after the reentrancy bug of TheDAO.” “We are also committed to proof-of-work because
after all, as you know,” (they don’t) “proof-of-stake… suffers from the nothing-at-stake problem,
as expressed in Casper the Friendly Ghost, which will collapse the entire heretical cryptocurrency
that tries to call itself ‘Ethereum.'” [Laughter] [Applause] And your friend asks, “Is that a blockchain?” [Laughter]
“Yes, it is a blockchain… but the *right* one!” [Laughter] I will not play those games. Thank you!