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Earlier quoted context omitted.
I don't understand this question. Why do you think Bitcoin is inflatable as such?
Because I don't see any reason why Bitcoin can't be a fractional-reserve asset.
tl;dr - A16Z is reclassifying themselves as an "investment advisor", which will allow them to make riskier bets (crypto, real estate, etc). They'll still invest in startups like any other VC firm.
A totally n00b question. Isn't VC the person with the money, so they are more in control. While an "investment advisor" is just advising or suggesting where the money can be put for maximum returns like an investment advisor in banks? So, presumably less in control. I don't understand why a title change was needed. Any technical or legal reasons?
This classification, in turn, also limits what an entity with a VC status can ultimately do and invest in.
In this case, a16z has ambitions that outstrip the limited definition of VC in the eyes of the SEC. Under their new classification, they still have the monies as an 'investment advisor' but aren't hamstrung on what they can invest in. It will, however, change the way they will be required to operate due to new regulations that come with the investment advisor classification.
Related, an article from the NVCA on the subject from December. [0]
Of everyone I follow it seems it’s only a16z still believes in crypto.
A phrase from each of the first four paragraphs. Is this parody, or just pandering cliche?
Of everyone I follow it seems it’s only a16z still believes in crypto.
A16Z’s unapologetic bet on cryptocurrency and blockchain companies is big for the industry. As crypto heats up again and blockchain 3.0 projects emerge (Cosmos, Polkadot, Ethereum Proof of Stake) VC will help legitimize the industry.
Can you provide a single problem where the right solution space is blockchain? Ive thought about this a good amount, and cannot come up with a single use case where current established centralized technology is not a better solution.
Skepticism might be warranted, but it should be noted by now that decentralized finance has a place in the present and future of our planet and it's not going away. I strongly encourage technologists to keep an open mind and do in depth research into the space. Yes, 2017 was over-hyped. The tech was not mature then, and while it has matured some since then, there's still quite a ways to go. Bitcoin Lightning network…
Some interesting players in the defi space: https://compound.finance/ https://makerdao.com/en/ https://dydx.exchange/ https://0x.org/
Earlier quoted context omitted.
Can you provide a single problem where the right solution space is blockchain? Ive thought about this a good amount, and cannot come up with a single use case where current established centralized technology is not a better solution.
Synaptic Health Alliance has a good use case for using blockchain technology to share a directory of healthcare providers across multiple organizations while avoiding the free rider problem. https://www.synaptichealthalliance.com
Of everyone I follow it seems it’s only a16z still believes in crypto.
Earlier quoted context omitted.
Because I don't see any reason why Bitcoin can't be a fractional-reserve asset.
You can have fractional-reserve only because the public cannot see any difference between money from M0 and M1. In crypto the public uses M0 directly. For now at least. There are some M1 constructs - at MtGox there were 'codes' redeemable for bitcoins, but they are not transferable between exchanges.
Hey, the public also use bank notes with unique serial numbers. That has no bearing at all on institutions who hold your assets for you, as they don’t generally let you audit them.