Public crowdfunding still suffers from a tragedy of the commons problem. Everyone will want the benefit of the crowdfunded efforts but is incentivized to sit on the sidelines and hope others chip in. Fred Ehrsam More Quotes by Fred Ehrsam More Quotes From Fred Ehrsam Everything will be tokenized and connected by a blockchain one day. Fred Ehrsam willeverythingdayone-day Forks often arise from differences of opinion in the direction of a project. And tokens are increasingly a mechanism for voting on changes to their protocols. Since the point of a fork is to try a new path, the new fork may not want to port all of the prior holders opposed to trying the new path the fork was created to take. Fred Ehrsam newvotingopinionpath While it may seem scarier in the earlier days, I think ultimately the blockchain creates a safer world. Fred Ehrsam blockchaindaysthinkworld If you are going to store your e-wallet on your own server, don't keep your e-wallet on your desktop, and make sure you use encryption. If you lose your computer, your bitcoins are lost forever. Fred Ehrsam loseyourownyou AIs are only as good as the data they are trained on. And while many of the tech giants working on AI, like Google and Facebook, have open-sourced some of their algorithms, they hold back most of their data. Fred Ehrsam aibackgooddata Ethereum has taken what was a four-function calculator of a programming language in Bitcoin and turned it into a full-fledged computer. Fred Ehrsam programmingbitcoinlanguagetaken When you drill down, blockchains are really a shared version of reality everyone agrees on. So whether it's a fully immersive VR experience, augmented reality, or even Bitcoin or Ethereum in the physical world as a shared ledger for our 'real world,' we'll increasingly trust blockchains as our basis for reality. Fred Ehrsam youtrustexperienceworld As with early internet startups, some token models don't make sense. For every 1 huge hit, there will be 3 minor successes and 100 failures, so we shouldn't be surprised when some fail. Fred Ehrsam sensesomewillinternet For the foreseeable future, I'm all about building blockchain-based decentralized services. Fred Ehrsam decentralizedaboutfuturebuilding Ethereum will be a first-class citizen on Coinbase. Fred Ehrsam coinbaseethereumcitizenwill To create an open protocol which helps coordinate resources towards a common goal, the resources need to be known at some level in the same way a lot of of data on the web needs to be public for it to be traversable and useful. Fred Ehrsam needcreatedataway AIs trained on open data are more likely to be neutral and trustworthy instead of biased by the interests of the corporation who created and trained them. Fred Ehrsam openmorewhodata OpenAI is doing important work by releasing tools which promote AI to be developed in the open. Compute power is largely produced by NVIDIA and Intel and still relatively expensive but openly purchasable. Blockchains may be the key final ingredient by providing massive pools of open training data. Fred Ehrsam aitrainingpowerwork Blockchains are digital organisms. As organisms evolve through changes in their DNA, blockchain protocols evolve through changes in their code. And like biological organisms, the most adaptive blockchains will be the ones that survive and thrive. Fred Ehrsam survivewilllikedigital Private funding was one of the first methods used when MIT funded Bitcoin core developers Gavin Andresen, Wladimir van der Laan, and Cory Fields in 2015. Fred Ehrsam firstbitcoinusedfields The self-driving car revolution was kicked off by The 'DARPA' Grand Challenge to make an autonomous car traverse 132 mi. of a desert. Fred Ehrsam challengedesertcarrevolution Scaling is multidimensional. Different methods address different things. Fred Ehrsam thingsdifferent-thingsdifferent Working on a token is similar to working on a startup: higher risk and lower initial impact but higher upside potential. How core protocol work is best funded beyond the initial Ethereum Foundation endowment is an open question, but likely further out. Fred Ehrsam bestfoundationimpactwork Not having sub-governance would be like anyone who owns USD being able to walk into a Google shareholder meeting and voting without owning Google stock just because Google shares happen to be denominated in USD. Fred Ehrsam meetingjust-becausewalkvoting Ethereum may make monetary policy decisions like, 'Let's do 1% inflation to support the ongoing development of the Ethereum protocol.' A token built on Ethereum might want to do the same. Fred Ehrsam likesupportdevelopmentwant
