An Inquiry into Decentralization with Erik Voorhees (WiM083)

Erik Voorhees joins me to explore the nature of decentralization. Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/ GUEST Erik’s Twitter: https://twitter.com/ErikVoorhees Erik’s Company: https://shapeshift.com/ PODCAST Podcast Website: https://whatismoneypodcast.com/ Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400 Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1 RSS Feed: https://feeds.simplecast.com/MLdpYXYI Transcript: OUTLINE 00:00:00 “What is Money?” Intro 00:00:08 How Do We Determine Decentralization? 00:06:09 Decentralization is Solely for Censorship-Resistance? 00:09:24 Does Ethereum’s Pre-mine Prohibit its Decentralization? 00:13:08 The Ethereum Post-DAO Hack Fork 00:17:57 “Code Is Law” 00:22:07 Ethereum Is Not Money; It Is Liquid Venture Capital 00:26:50 Is Ethereum Market-Proven? 00:28:33 Is Decentralized Exchange a Valid Use Case? 00:35:43 The Indivisibility of the Bitcoin Social Layer 00:37:57 What is the Total Addressable Market for Ethereum? 00:41:00 The “Ultra-Sound Money” Narrative 00:46:33 The Store of Value Marketplace Dynamics 00:51:30 Is Lightning Network Decentralized? 00:56:53 NYDIG 00:58:00 What is Shapeshift? 01:04:22 Where is Shapeshift on the Path to Decentralization? 01:10:14 What are Decentralized Autonomous Organizations (DAOs)? 01:15:45 Current Law Does Not Contemplate the Existence of DAOs 01:19:10 Are Other Organizations Pursuing the Path of Decentralization? 01:23:09 The Governance Model of Shapeshift DAO 01:27:21 Why Not Build All DAOs on Bitcoin? 01:30:55 The Non-Coercive Politics of Decentralized Protocols 01:38:40 ICOs and Self-Regulation 01:43:19 Can Self-Regulation Work in Practice? 01:52:30 What is the Utility Value of Ethereum? 01:59:23 What is the Endgame of Bitcoin and Decentralization? SOCIAL Breedlove Twitter: https://twitter.com/Breedlove22 WiM? Twitter: https://twitter.com/WhatisMoneyShow LinkedIn: https://www.linkedin.com/in/breedlove22/ Instagram: https://www.instagram.com/breedlove_22/ TikTok: https://www.tiktok.com/@breedlove22?lang=en All My Current Work: https://linktr.ee/breedlove22​ WRITTEN WORK Medium: https://breedlove22.medium.com/ Substack: https://breedlove22.substack.com/ WAYS TO CONTRIBUTE Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Sats via Strike: https://strike.me/breedlove22 Sats via Tippin.me: https://tippin.me/@Breedlove22 Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove Dollars via Venmo: https://venmo.com/code?user_id=1784359925317632528 The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=true RECOMMENDED BUSINESSES Worldclass Bitcoin Financial Services: https://nydig.com/ Join Me At Bitcoin 2022 (10% off if paying with fiat, or discount code BREEDLOVE for Bitcoin): https://www.tixr.com/groups/bitcoinconference/events/bitcoin-2022-26217 Put your Bitcoin to work. Earn up to 6% interest back on Bitcoin with Tantra: https://bit.ly/3CFcOmg Automatic Recurring Bitcoin Buying: https://www.swanbitcoin.com/breedlove/ Buy Bitcoin in a Tax-Advantaged Account: https://www.daim.io/robert-breedlove/ Home Delivered Organic Grass-Fed Beef (Spend $159+ for 4 lbs. free): https://truorganicbeef.com/discount/BREEDLOVE22