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What Bitcoin Did #90 The Ethics of Investing in Tokens with Chris Burniske

Published on March 29th, 2019 by DSholla

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“If we are trying to take Bitcoin mainstream, that means the vast majority of users will not be educated about the merits of Bitcoin, they just won’t care, they will actually be turned away if they feel like they have this screaming mob asking why the hell they are using this other asset.” — Chris Burniske

Interview location: New York

Interview date: Monday 25th March, 2019

Company: Placeholder

Role: Partner

One of the most interesting debates in the cryptocurrency industry is whether there is a valid use for a blockchain outside of Bitcoin and whether there is a market for a broad range of crypto assets. Despite the many scams, there are projects with honest intentions of building new business models and economies.

Are the maximalists right? Should all focus and attention be on Bitcoin, or in a free market should we embrace entrepreneurs who wish to innovate? It is indeed a topic which splits people.

While I sympathise with the views of maximalists who time and time again have seen projects come and go, attempting to use blockchain like some magical component for a new industry. I also maintain a healthy curiosity.

Will any of these projects exist with meaningful use in ten years? Will Bitcoin be the only successful use of a blockchain? I struggle to find a binary answer, but I do not support the berating of anyone open to new ideas.

In this interview I discuss these issues with Chris Burniske, the author of Cryptoassets - An Innovate Investors Guide to Bitcoin and Beyond. Chris is a Bitcoiner, but he is also an investor in, and his view is that we are at the start of a new industry for programmable money and crypto assets. We discuss why Chris is bullish on Bitcoin, why he believes in a market for tokens, the ethics of value extraction and dealing with the pressure of maximalists.

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