ฝัง
- เผยแพร่เมื่อ 9 มิ.ย. 2024
- Crypto creates an “incentive vortex” that is destined to take over everything, according to the investment firm’s founder and CIO.
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Polychain Capital founder and CIO Olaf Carlson-Wee has been through every single bubble in crypto history, from Bitcoin’s rise past the single digits in 2012 to the ICO craze of 2017 to 2021’s NFT mania, and he says his main thesis about crypto has remained consistent since the beginning. That is, that crypto constitutes an “incentive vortex” that will replace the world’s preoccupation with country-backed currencies.
Carlson-Wee, who was the first employee at Coinbase, joins Unchained to discuss the significance of the launch of spot Bitcoin ETFs, how he successfully navigated all the industry blow-ups in 2022, the challenges of balancing incentives for early adopters versus new users, why EigenLayer is so significant, why Worldcoin’s distribution strategy is a “disaster,” and the strange places that the intersection between crypto and AI could take us.
Show highlights:
🔹Why Olaf sees the current market as the cusp of another bull run and how his thesis has remained consistent since 2011
🔹How the launch of spot Bitcoin ETFs marks a significant milestone
🔹Why criticisms of the crypto space are really criticisms of money in general
🔹The fundamental differences between Web3 and Web2 apps and why they matter
🔹The importance of fair token distribution in enhancing the value of Web3 projects
🔹When Olaf expects Bitcoin to replace legacy financial systems
🔹The areas and technologies Olaf and his fund are keen to invest in
🔹Why Olaf thinks a modular blockchain architecture is superior to a monolithic one in the long term
🔹How EigenLayer is innovating to enable new types of applications and whether it competes with Celestia
🔹How Polychain managed to avoid being hurt by the major market blowups of 2022, including Terra and FTX
🔹The evolution of the space from an ideologically driven to a more pragmatic approach
🔹The significance of incentive design in crypto ecosystems and the trade-offs involved in system design
🔹Olaf’s perspective on the recent rise of points systems
🔹The growth of privacy-focused crypto projects and the potential for private blockchains to become the norm
🔹Why he thinks Worldcoin’s distribution strategy is a “disaster”
🔹Olaf’s interest in the intersection of AI and crypto and potential developments in this area
🔹His bullish outlook on SocialFi and Web3 gaming
Thank you to our sponsors!
➡️Popcorn Network
Guest:
⭐️ Olaf Carlson-Wee, founder and CIO of Polychain Capital
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Time Stamps:
00:00 Introduction
01:34 Anticipating the next bull market
06:30 Spotlight on Bitcoin ETFs
13:19 Unveiling the differences of Web3 apps
26:55 Polychain’s new funds and investment focus
31:28 Modular vs. monolithic blockchain architectures
35:03 Exploring EigenLayer and Celestia
40:36 Navigating the bear market of 2022
48:47 The role of stablecoins in today's market
50:32 Navigating U.S. regulation in crypto
52:31 The evolving ethos of crypto
55:21 The rise of Bitcoin Ordinals
58:22 The dynamics of cryptoeconomics
1:05:03 The state of privacy in crypto
1:06:48 Assessing Worldcoin's challenges
1:08:52 Spotlight on Blast
1:09:33 Crypto meets AI: exploring the intersection
1:13:21 The future of SocialFi and gaming in Web3
_______________________________________________________
#bitcoin #ethereum #crypto #cryptocurrencies
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![Wolfram Physics Project: Working Session Wednesday, Apr. 29, 2020 [Finding Black Hole Structures]](http://i.ytimg.com/vi/SbDzqlOLIZA/mqdefault.jpg)
Honestly very rarely someone come across as genius... This guy is truly one
Olaf is always 100% on the ball. love his podcasts
I am a huge Olaf fan - he provides great insight about Bitcoin.
that was one of the most rational takes on crypto
What a great one! Thank you! 👍
wonderful interview
great show, love olaf podcasts
Great insightful honesty❤
Really excellent interview. First time watching this genius, he seems very genuine.
great interview
1:17:11 cool to see him mention Bittensor. Great interview!
its on polychain portfolio already
good to hear someone say they dont get blast. cheers.
1:06:52. Icp is working on encryption on chain. Huge revolution.
OMG! I want to create a clip on Olaf's explanation of money to share on LinkedIn. Please enable the clip feature.
He was one of the first in Cosmos and polychain run a delegator node
Laura is an incredible resource.
I heard him talking about Bitcoin in 2014 but didn't pay much attention at the time. I still regret that!
@1:15:38 approach to single game and single studios, so is IMX a no too then? or imx more infra than studio? seems beam et al more the studio and imx more infra, but maybe its poly zkevm is infra, IMX studio? I own IMX but not beam. have been equivocating on beam.
Great chat! Olaf, what kind of glasses are those 🔥 Anyone know?
@49:50 unclear if he is talking about synthetix per se?
"where you are not like tracking it through a synthetic um you know pricefeed" ??? seems like he is talking about say a synthetix but with unclear phraseology?
@laura you talked about Olaf back at LP... i don't get what you mean, a former employer?
Web Stack. 👽🧠💥♾️
👀
A high signal to noise podcast
The sas sounds like chainlink
When will you interview Steven Nerayoff to set the record straight about DAO hack and ETHgate?
Ya, ex-employee’s are never disgruntled or lie about their previous place of employment. It wouldn’t set anything straight… It’s one person.
"Prices are up"? :o
Yeah Man stop x50 leverage
Fiat money is backed up by a taxation apparatus, law enforcement agencies, and ultimately, a military (government created money). Taxation is what gives money value in the 1st place. You NEED it to pay your taxes. Subsequently, fiat money gains value because banks lend it, and you NEED it to pay the interest back (bank created money). Finally, fiat money derives value from net exports. The higher your next exports, the more valuable the currency.
No crypto has these.
They ARE assests, just not money, don't compare them to money.
@1:10:52 Onlyfans type AI chat models sounds like the Lush AI Modeling Agency project that just launched.
Bittensor $TAO 🤤
Meanwhile... Pulse Chain and HEX = 100% flawless up-time. Hmmmm, Richard Heart was Right!
This Olaf VC scum secret idol is Richard Heart but hes to gay to admit it.
There's no value in anything other than bitcoin. A lot of mental gymnastics here to justify otherwise.
Cope sir
Snail Mail should be gone! Makes zero sense for people to send anything via paper haha :)