Jason is getting quite a lot of flak for this…but he’s not wrong? Bitcoin is not great for transactions It’s not great for smart contracts The user experience is still intimidating for most And Bitcoin isn’t capturing the public’s imagination any more This last point is key, because in the absence of the utility and demand drivers above, it’s the only thing that can drive value But if not everyone believes, then it doesn’t work Bitcoin is now simply a sentimental play - people who got in early like it, new entrants and rationalists do not There is good news, though The good news is that there is much life beyond Bitcoin, and this is why I am still excited about ‘crypto’ as an asset class And by ‘crypto’ I mean Ethereum Bitcoin was the idea, Ethereum is the execution