151 - Why Are We Here? with Erik Voorhees

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Jan 2, 2023

Erik Voorhees, a crypto veteran and outspoken advocate for open systems, shares his insights after his well-known debate with SBF. He reflects on the fallout from the FTX collapse, discussing accountability and responsibility in the crypto space. The conversation dives into the uniqueness of current market cycles, the necessity of preserving crypto's core principles, and the philosophical foundations of separating money from state control. With thoughts on maintaining innovation amid challenges, Voorhees drives home the importance of staying engaged in the crypto revolution.

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ADVICE

Focus on the Positive

Don't feel responsible for others' bad actions, focus on highlighting the good.
Promote virtuous projects built on sound principles.

INSIGHT

Principles over Personalities

Interviewing key figures helps the community understand different perspectives.
Focusing on the structures they build is more important than personalities.

ANECDOTE

SBF Debate Reflections

Erik Voorhees reflects on the SBF debate and FTX collapse.
He had no prior knowledge of the fraud and emphasizes the surreal experience.

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✨ DEBRIEF | Unpacking the Episode: https://shows.banklesshq.com/p/debrief-erik-voorhees-why-are-we-here

------ Erik Voorhees is a crypto veteran of veterans. He’s one of the greatest advocates of open and permissionless systems that we have in this space.

In this episode we talk about his legendary debate with SBF—this is the first time we’ve caught up with him since. What are his reflections now? We also dive into how this bull/bear cycle is similar and different from previous ones, how do we preserve crypto’s core principles, and most importantly—why are we here? Why crypto? Why now? Why stay?

Erik doesn’t waste a word in this episode. Happy New Year everyone. Let’s keep building.

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------ Topics Covered

0:00 Intro 6:17 Where Did Crypto Go Wrong? 8:43 Crypto Labels 12:30 Responsibility 14:26 Accountability 18:19 FTX Collapse From Erik’s POV 24:05 SBF’s Headspace 28:45 Potential Alternative Realities 30:50 SBF’s D.C. Relationship 34:47 Was this Cycle Unique? 38:58 Lessons From Past Cycles 43:36 Learning Through the Pain? 48:33 Why is Individual Empowerment Correct? 50:20 Coordination & Order 54:26 Power 1:02:22 The U.S. Constitution 1:07:13 Code Enforcement 1:08:07 Why Are We Here? 1:09:49 Baked-In Crypto Principles 1:13:03 Perserving Core Crypto Values 1:16:48 Is Erik Radical? 1:21:44 Will Crypto Ever Go Mainstream? 1:25:53 Cycle Common Denominators 1:28:19 Bear Market Advice 1:29:31 Erik’s Bull Market Forcast 1:32:00 Action Items & Disclaimers

------ Resources:

SBF vs Erik Voorhees episode https://youtu.be/Ytaa_5liwMA

A Response to SBF and Principled Crypto Regulation https://www.moneyandstate.com/blog/response-to-sbf

Sophistry and the Savior https://www.moneyandstate.com/blog/sophistry-and-the-savior

24 - Exploring the Frontier | Erik Voorhees https://youtu.be/rLsOHOvUOpM

----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures