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0 sats \ 3 replies \ @gunson 8 Apr 2022 \ on: Paypal Co-Founder Peter Thiel - Bitcoin Keynote - Bitcoin 2022 Conference bitcoin
Rumble link in case they shutdown Bitcoin Magazine’s YT channel again: https://rumble.com/v10648s-paypal-co-founder-peter-thiel-bitcoin-keynote-bitcoin-2022-conference.html
I think Thiel has the right intuition, but it doesn’t seem like he’s done enough work to understand Bitcoin. He reasons too much from analogies, which is why he makes the cringe categorisation of Ethereum as a payment network (not even Ethereum people really think this - isn’t it a world conputer or something?).
I liked the commentary afterwards. Mark Moss corrected this egregious error by pointing out that Bitcoin was store of wealth and a payments network.
Why do these billionaires never get an expert to give input on their presentations?
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Its funny because Thiel has admitted recently that his biggest vision failure in last 10 years was undervaluing bitcoin and not buying more of it.
Yet...he continues to do so.....
There is this persistent narrative that keeps being pushed that: BTC = Settlement Layer / ETH = Application Layer. This is failure understandable from a 2018 view of the world, but it should be clear to all that the failures of ETH are whats collapsing that vision. Meanwhile the successes of BTC keep pushing it forward
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bitcoin is the settlement layer and Lightning ⚡️ is the app layer.
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