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First, Haseeb Qureshi was a Texas Hold’em poker player. Then Haseeb learned how to code and worked as a software engineer for Airbnb. He went down the crypto rabbithole and is now the managing partner at Dragonfly Capital, as well as an accomplished writer and coder.
He recently published an article titled Blockchains are Cities, expanding on a mental model for understanding the crypto landscape from a high level perspective. We brought Haseeb back onto the Bankless Podcast to dive into this metaphor, which explains how cities (and blockchains) scale.
We also explore the question of the decade: Will we live in a multi-chain world, or will there be “one chain to rule them all”?
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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
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Wow this was extremely valuable for me! I've always appreciated when Vitalik speaks on the analogy of blockchains and cities, but this discussion really pushed it to another level for me. I really enjoyed how everyone had thoughtful discussion with (in my opinion) just the right amount of pushback on each other's theories to facilitate further discussion.
I'm fascinated to see how the Bankless theory that Ethereum will become the chain for chains plays out now that Haseeb has pushed back on the idea that long term economic security is the primary driving force behind choosing a blockchain to "open up shop on."
Previously, It was clear as day to me that Ethereum would 'win' because it has the strongest security/ownership rights. To use a Bankless example, you wouldn't open a business in Disneyland, even though it's great, because there are zero ownership assurances. However, Haseeb has made me question this theory more. While I would still argue that Ethereum will 'win' and become a titan of finance and culture in the future, I no longer believe it is entirely because of the immense security Ethereum provides, but instead a slightly more subtle blend of value propositions (that is admittedly still heavily weighted towards security). Overall, it doesn't change my investing strategy now (just buy more ETH), but I think it IS an important distinction to make when considering the future of Ethereum and the development of various competitors or substitutes that attempt to take activity away from Ethereum.
Great