Uber angel investor stirs Bitcoin debate with 'build a better Bitcoin' remark

3 months ago

A exertion capitalist who backed ridesharing app Uber successful its aboriginal days has sparked backlash from the Bitcoin assemblage aft claiming Bitcoin volition inevitably beryllium replaced by thing better.

“Bitcoin has been a fantastic game, but with a mates elephantine players cornering the market, the timing is close to “build a amended Bitcoin” — restarting the game,” salient angel capitalist and net entrepreneur Jason Calacanis told his 981,600 X followers connected March 15.

Calacanis, an aboriginal capitalist successful Bitcoin-related companies similar online trading level Robinhood and Bitcoin startup Keza, said, “All exertion gets replaced implicit time… and Bitcoin volition beryllium nary different.”

Opportunity presents for Bitcoin layer-2 projects

Bitcoin (BTC) co-founders and executives were speedy to propulsion back, arguing that Bitcoin volition not beryllium replaced, though there’s inactive country for a ascendant layer-2 protocol to look connected apical of the Bitcoin network.

Swan Bitcoin co-founder Brady Swenson said, “Winning protocols don’t get replaced; they are built upon.”

“Bitcoin volition ne'er beryllium replaced arsenic a protocol for worth transfer. The contention is inactive connected for the winning 2nd furniture protocol,” Swenson said.

Swan’s different co-founder, Cory Klippsten, said, “Bitcoin is simply a technological gyration changing each industries, not pursuing the adoption curve of a azygous exertion similar an iPad.”

Echoing a akin sentiment, Lightspark CEO David Markus said, “What it lacks successful functionality tin beryllium built connected L2s.”

“Trying to physique a amended Bitcoin is simply a fool’s errand.”

Meanwhile, ShapeShift CEO Eric Voorhees said Bitcoin’s limitations tin beryllium solved “on different chains.”

The bigger Bitcoin grows, the “less likely” it is to beryllium replaced

Many successful the manufacture person emphasized the importance of layer-2s for Bitcoin, arsenic they supply usage cases that the Bitcoin web cannot support, specified arsenic deploying astute contracts.

However, Muneeb Ali, co-founder of Stacks, precocious told Cointelegraph that much than two-thirds of existing Bitcoin layer-2 projects volition not beryllium wrong 3 years arsenic their archetypal excitement volition fade.

Bitcoin advocator Wayne Vaughan said radical wrongly presume Bitcoin is easy replaceable due to the fact that they spot it arsenic conscionable an asset, application, oregon platform.

“I deliberation of Bitcoin arsenic a network. The larger the web gets, the little apt it is for thing other to regenerate it,” Vaughan said successful a March 15 X post.

Strive Funds CEO Matt Cole said, “There volition not beryllium a “better” Bitcoin. I bash deliberation we volition get occasional alt seasons of ever diminishing spot that volition proceed to marque insiders money. Most radical volition extremity up with little Bitcoin by going to that casino.”

This is not the archetypal clip that Calacanis’ comments person caused statement successful the crypto industry.

In June 2020, Calacanis said that astir each of the crypto projects astir the world are nether the power of “unqualified idiots” oregon “grifters” with below-average skills.

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