The Rhyme of Linux and Bitcoin

Foreign [Applause] Doesn't repeat itself but it does Rhyme A lot right from the perspective of Someone in the IT industry Um yeah so so when we look at the Industry of people who use money is much Bigger than the IT industry uh but there Is definitely a rhyming here right so we Had Uh OG Linux people OG software people Who are like no that's not how software Is built Right all right very much the that's not How money it works right Governments issue money whatever you're Doing and that's not money right just a Sort of axiomatic that's not how money Works people this isn't money uh Response to bitcoin is very much there We had the gray beards going yeah that's A toy it's not real Unix right here's The cool thing Linux never got an answer To the question of how do I trust randos On the internet To write my software we never had a good Answer to that we still don't you know What happened Um we just became good enough that you Couldn't ignore it anymore and so people Started to go huh well in theory yeah I Can call up Microsoft and get an answer In practice that never actually works So

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What am I paying for like why why am I Doing that why didn't I just run Linux Um you know people's Comfort levels Adopted over time because if something Has always been around you trust it in a Way that you don't if you saw it come Into existence so that that just takes a Generation that's your 25 years right There Um but the other thing that happens is If you just can incrementally get better Every day then the use cases pile up and Eventually you get this Bolus of people who are like you know I use it and it's fine and then people Hear about that and it keeps coming back You know it it never dies it's still There it's slowly increasing more people Are using it more people find it useful For different things it's getting these Different niches and It becomes part of the landscape and That is definitely definitely the story That you know I I you know the Bitcoin Is on and there'll be ups and downs Um we didn't have the same rate of Scammers in the space that I've you know That in the length space so we had them But not nowhere near as many as the Bitcoins Bitcoin space and hence these You know the crypto space law scammers There are just absolutely ridiculous Um and so there are definitely unique Challenges and perhaps this is part of

The fact that you know we're dealing With rather than a small technical Specialty we're dealing with the Marketplace of everybody who uses money Which is just about everyone if you Stick around for long enough then you Know uh the your moment will come Um and as I said like so so in in 99 we Had but right towards the end of The dot combo you could put Linux in Your press release and your price would Go up the same way we had Long Island Blockchain and things like that it was Exactly the same thing I forgot about That that was great yeah right the same Story you could do it and you're saying I was just the hype was just ridiculous And the downside to The Hangover to that Was like you know It's dead it's all weeds it's all Terrible right so uh we had that Um but then you then you pretty much if You survive and you just continue to Accrete value and you know you're more Useful and more useful and more useful Then uh it in for uh for Linux it was Really the 2008 GFC when people went we Can no longer afford to do what we were Doing we're desperate Um and they were forced into this Decision to go oh actually this isn't so Bad right so you were there ready to Catch it but it wasn't just you know There was an external event right

Um and perhaps we're seeing the same Thing here but it doesn't a difference To you know as a day-to-day Behavior Does make a difference keep improving Bitcoin keep making it more useful keep Building infrastructure keep doing that And you can control the timing of when The you know the crisis or whatever Happens that makes people look at you Again Um but perhaps that perhaps it is a Requirement perhaps the existing system Has to shake a bit for people to get Shaken off and go huh maybe this isn't Working so well Um maybe I do need this and then they Get there and they go oh actually this Is way better than I thought right so Um that's quite possible that exactly The same thing will happen to bitcoin

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