Since the last influx of new people in 2017, I feel like there was a movement of debate about Bitcoin versus Ethereum. I want to ask you about how you envision them potentially working together symbiotically?

[AUDIENCE] Hi Andreas. I will try to not fan-boy out here. [Laughter] Quick question. I'm in the space since 2016. Since the last influx [of new people in] 2017, I feel like there was a movement [of debate]... about Bitcoin versus Ethereum. I personally appreciate their differences. I like them both individually for what they are. However, I feel there is this very antagonistic [attitude], "My crypto is better than your crypto because..." I don't think that is healthy for the ecosystem, and you have spoken [positively about] Ethereum... for certain reasons, as well as pro-Bitcoin for certain reasons. I want to ask you about how you envision them potentially working together symbiotically? Do you feel this antagonism might be hurting the crypto community? [ANDREAS] That is a great question. I think this is a natural consequence of human behavior. We are tribal in nature. We will create in-groups and out-groups. Then, as soon as our in-group becomes successful, those who thrive on being... the underdog create an inner in-group, and call the [broader] in-group heretics for not following... the "true vision" of the founder-messiah. Whatever, right? The revolution has barely succeeded when the counter-revolution arises from within. We have seen that happen in Bitcoin and Ethereum. The funny thing is, each wave has barely started before it finds another wave right on its back. The Ethereum maximalists will say, "The Flippening is happening!" "We will do everything Bitcoin does, only better." Then somebody comes up behind them and says, "EOS!" [Laughter] "Where did you come from?" "We are the next Ethereum." "Huh? We're trying to beat-" The cycle repeats. "You are not representing the true vision of Bitcoin. We will represent the true vision with Bitcoin Cash!" And what is happening in a month? Oh, there is an even truer "true vision"... that will fork off the true vision. [Laughter] [Applause] I have no problem with any of this. This is natural. This is a process of mutation, fragmentation, bifurcation, and consolidation that is part of evolution. It is wonderful that we have in a dynamic, vibrant, and ideologically motivated open-source environment... where people can try out new ideas. If I don't like the way you have [implemented] the idea we worked on together, I will pick up my ball... and go start my own game. In open-source, we can have lots of balls and games going on at the same time. Even better, we can learn from anything that somebody else invents, and apply it ourselves. If we have the vision, flexibility of thought, openness to new ideas, and the ability to overcome doctrinaire. If we are ossify in our positions, we lose out. Then the question is, what happens next? When does this [arguing] stop?

We are all just the same weirdos

I will tell you exactly when it stops. Within this room, there are factions: Bitcoin weirdos, Ethereum weirdos, Bitcoin Cash weirdos, EOS weirdos... there might be some Tron people here, I don't know. [Laughter] There is a lot of variety in here. But here is the news: to everyone outside, we are all just the same weirdos. [Laughter] [Applause] When it comes to the banks and the 'very serious' economists who think they are saving the world... from "terrorism" and "money laundering," to regulate "for your own good," applying all of their protectionist, instincts to nanny you into safety, to make sure you do not succumb to the temptation of free expression.. or anything like that. To them, we are all weirdos. Not just weirdos. To them, we are dangerous, radical, perverse, terrorist weirdos... who decided that laws and regulations don't matter. [To them], we will destroy the order and goodness of society if we have our way. What happens next? At some point, a backlash comes that will not discriminate between... "Oh no, we are just a virtual machine for smart contracts that is Turing-complete." They will say, "Weirdo! Get him!" [Laughter] They will try to round up all of the weirdos. They will attack any system that tries to deviate from the orthodoxy of carefully regulated financial systems... which, most importantly, allow for their parasitic behaviors. We will suddenly have a "Kum ba yah" moment where we re-unite in brotherhood around our [shared] weirdness, and realize once again that there is an enemy here. It is a parasitic system which dominates the lives of 99% of the human population. We just want to do something different. We want to have a choice. For that [aspiration], we will be ostracized. We will be called names, like "terrorists," "drug dealers," "pedophiles," "pornographers." [People] in this room [will be accused of] using "the anonymous dark web money." They will not discriminate, so we will come together and see moments of coalition when we are attacked. Just like with any population. If you want world peace, then hope for aliens.

Store-of-value or medium-of-exchange

[Laughter] That is the only way... [ANDREAS] Store-of-value or medium-of-exchange. First of all, this is a Bitcoin-only question. Among other things, we [should be thinking about] the idea that crypto is more than just money applications. There are plenty of [cryptocurrencies] where the primary application is not money. We need to keep that in mind when we [become] too focused on our side of the tribe, right? That is how you [create] schisms [in religions]. Do you know anything about religions in the United States? Probably not. When I first arrived there, I found all of these churches that were called [something like]... the United Seventh-Day Reformed Secondary Methodists of Evangelical Post-Modern Protestants. [Laughter] I say, "I have never heard of this one. Tell me more!" [Laughter] Inevitably, you hear a story like this: "Well, you know how there were two fishes and five loaves [that Jesus blessed for His disciples]?" "In 1783, some heretics in our church decided that it was actually five fishes and two loaves of bread." "That is when we had a schism from the non United Seventh-Day Reformed Secondary.. Methodists of Evangelical Post-Modern Protestants, and we found the true path." [Laughter] I would ask, "Is that really an important position of doctrine? I mean, how big is your church?" "There are only six hundred of us throughout the United States, but at least we have found the truth." "So what happens to everybody else?" "Oh, well, they go to hell!" [Laughter] Can we not do that in crypto? Can we not? Because to everybody on the outside, it sounds like we are all on the same side. "You are those weird people with the blockchains." They don't know the difference between [us]. If you try to give them a doctrinal approach... I am tired of these doctrinal questions about what is the correct or true 'Church of Bitcoin.' Is it a store-of-value or a medium-of-exchange? Maybe it is different for me than it is for you. Maybe today it is one thing, then different tomorrow. In the end, who cares? Try both.

To all of the people outside, we are all just the blockchain weirdos

See which one works. To all of the people outside, we are all just the blockchain weirdos. [Laughter] [Imagine] siting down with someone who asks, "I heard you are involved in 'blockchain.' What do you do?" You say, "I am involved in Ethereum Classic." Of course, as you know," (they don't) "Ethereum Classic is the one that maintains the immutability principle... after the reentrancy bug of TheDAO." "We are also committed to proof-of-work because after all, as you know," (they don't) "proof-of-stake... suffers from the nothing-at-stake problem, as expressed in Casper the Friendly Ghost, which will collapse the entire heretical cryptocurrency that tries to call itself 'Ethereum.'" [Laughter] [Applause] And your friend asks, "Is that a blockchain?" [Laughter] "Yes, it is a blockchain... but the *right* one!" [Laughter] I will not play those games. Thank you!