Bitcoin and Everything Else

I love the idea of web3. It makes a ton of sense. The main problem is we are early. Solana is still technically in beta. Ethereum is the leader, but its gas fees are absurdly high.

Web3 coins face an uphill battle. Balancing processing power, fees and decentralization is hard. As you improve each, more and more becomes possible. Making quick changes generally requires centralization as large changes create infighting.

Bitcoin was the best use case for crypto. That’s not saying anything bad on web3, because web3 incorporates thousands (probably millions) of use cases. The opportunity is huge. However, as these use cases continue to emerge, new competitors will keep rising.

For better or worse, web3 is in a much more dynamic space than Bitcoin is. To me, this brings significantly more risk to any web3 company than Bitcoin has.