E124: Ethereum Founder reveals why ETH has FAILED (and his solution to it)

Gavin Wood, co-founder of Ethereum, reveals why he believes crypto has fundamentally failed its original mission. The man who helped build the world's second-largest cryptocurrency doesn't hold back about what went wrong.From Ethereum's controversial Layer 2 approach to the rise of meaningless meme coins, Gavin explains how the industry lost its way. __________________________________PARTNERS🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/💳 KAST is a global financial platform that enables users to manage and spend stablecoins and cryptocurrencies using a Visa Card or Apple Pay. Available in over 100 countries: https://kastfinance.app.link/SHIFT🔓 Trezor is the safest cold storage wallets for crypto security and financial independence.Buy your Trezor Wallet (use PROMO Code from the video for a 10% discount): https://trezor.io/?transaction_id=1026f18ed46409e495c6db4bff90ab&offer_id=133&affiliate_id=35356🌱 Bitwise Asset Management is the crypto specialist asset manager with more than $10 billion client assets and more than 30 crypto solutions across ETFs, index funds, alpha strategies, staking, and more.https://bitwiseinvestments.com/💧Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed to make digital asset ownership fast, private, secure, and accessible.https://sui.io/🔘 Mantle Network enhances dApp development with Ethereum's security, low fees, and quick transactions through innovative layer-2 technology. Users can stake ETH for mETH, contributing to a transparent, community-driven ecosystem governed by $MNT token holders, fostering innovation and collaboration.https://www.mantle.xyz★ Forza! is Coinsilium's Gibraltar-based Bitcoin treasury company. Coinsilium’s shares are traded on the Aquis Stock Exchange (AQUIS:COIN) and on the OTCQB in the US (OTCQB:CINGF). Find out more at https://www.coinsilium.com/__________________________________FOLLOW GAVIN WOOD• Twitter: https://x.com/gavofyork• Instagram: https://www.instagram.com/official.gavofyork• LinkedIn: https://www.linkedin.com/in/gavin-wood-88843316/• Website: https://gavwood.com/__________________________________DISCLAIMERThe info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor.Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.#Entrepreneurship #Crypto #news __________________________________0:00 Introduction 1:32 Please Subscribe1:59 Partnerships2:40 Spending Crypto with Kast6:26 Stablecoins Are Just Banks7:26 Regulation Destroys Web3 Vision11:20 Self Custody with Trezor 14:27 Self-Sovereignty or Societal Collapse15:59 Why I Stopped Trusting Systems18:46 Attaining Self-Sovereignty24:33 Rethinking the Social Contract27:27 Network States Need Territory33:09 Can Networks Work Together?39:28 Why Blockchain Governance Is Broken45:41 DAOs Are Just Better Governments53:10 Turning Greed Into Alignment56:07 Polkadot’s Mixed Governance Results58:25 Polkadot’s Transparency Problem1:11:57 From CEO To Architect1:13:21 Defining Good for Polkadot1:14:56 Letting Go Of Control1:23:53 Polkadot Without Gavin Wood1:26:58 Bitcoin as Digital Gold1:31:44 Bitcoin: Swiss Bank In Pocket1:33:33 Does Best Tech Always Win?1:49:51 Ethereum L2s vs Polkadot Parachains2:04:34 Multi-Core Elastic Scaling2:10:08 JAM vs. Ethereum Explained2:20:51 Is JAM Good For Polkadot?2:22:33 Ethereum’s Layer Two Mistake2:24:48 The L2 Power Grab2:26:25 Has Crypto Failed?2:32:02 Rebuilding Crypto’s Core Ethos2:36:51 The Mixed Blessing Of Wealth2:45:35 Dealing With Injustice2:52:10 Curiosity Fuels Joyful Living2:53:27 Concluding Remarks