VC Firm Partner: “The ‘Crypto’ Industry Will Be Cleaned Up By The Successful Bitcoin Industry”

Marty Bent, founder of media company TFTC and also a partner at Bitcoin-focused venture capital firm Ten31, said on Sunday (November 27, 2022) that the “crypto” industry will be wiped out by a successful bitcoin industry. “

According to Bitcoin magazine, this is how Ten31, named after the birthday of the Bitcoin white paper (issued by Satoshi Nakamoto on October 31, 2008), describes itself:

A leading investment platform exclusively focused on investing in the Bitcoin ecosystem… Support for emerging companies built on top of the Bitcoin network… Value-added partner with resources and network to support development… Management fees focused on Bitcoin core and Lightning developers.

Anyway, early today, Bent, took to Twitter to report:

The “crypto” industry will be wiped out by a successful bitcoin industry. This year’s silver lining has been the clear distinction between bitcoin and ‘crypto’. Now is the time to double down and harden the tools that will bring the P2P digital money system to the world.

A @BtcpayServer at home and at work… A @COLDCARD a purse in every sock… A gaggle @Whatsminer_MBT ‘s next to every closed gas well… A @SamouraiWallet , @bluewalletio or @MuunWallet on every phone… When the Bitcoin P2P economy hits a certain threshold, the opportunity cost of playing silly games with shitcoins will be too high.

On November 22, 2022, Michael Saylor, co-founder and executive chairman of business intelligence software company MicroStrategy Inc. (Nasdaq: MSTR ), made comments stating that he believes that Bitcoin should be judged on its own and not synonymous with cryptocurrency.

Saylor was responding to a November 21, 2022 NBC News article (by Joshua Hendrickson, associate professor of economics at the University of Mississippi) about how Bitcoin can get a bad reputation as a result of scams. bad actors in the crypto industry. That article said:

What this history reveals is that what is commonly known as crypto is distinctly different from both the cypherpunk vision that inspired Bitcoin’s creation and the developments in and around Bitcoin itself over the past decade. While Bitcoin was created to be a censorship-resistant, insecure form of digital money, cryptocurrency has become a space dominated by get-rich-quick schemes. Whatever this cryptocurrency industry is, most Bitcoiners and bitcoiners want no part of it.

This prompted the former MicroStrategy CEO to tweet the following to his 2.8 million followers:

On November 11, 2022, cryptocurrency analyst William Clemente III, co-founder of boutique digital asset research firm Reflexivity Research, Canadian firm Coinkite Inc. by explained why COLDCARD is his favorite Bitcoin hardware wallet.

Coinkite’s COLDCARD cryptocurrency isn’t a wallet – it’s a Bitcoin-only hardware wallet “built by cypherpunks”.

High security seems to be a key feature of COLDCARD, especially the COLDCARD Mk4 in its latest form, which includes dual secure elements (from two different vendors), verifiable source code (available on GitHub), and true air-gap (it claims “Full Life A signing-only device (hardware wallet) with the option of never being connected to a computer for the duration of the period).

Anyway, here’s what Clemente had to say to his over 669,000 Twitter followers:

He continued:

Not sure if there’s something wrong with Defter or Trezor, just prefer Coldcard because you have air space from your computer. Not saying that everyone needs this level of security… Multisig is of course an option for those looking for a hardware device that can just keep it that way.

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