The Most Important Thing Podcast Ep. 3: “The Veteran Episode” ft. legendary web3 buidler Trevor Koverko🎙
InterStellars,
The show notes for yet another episode of The Most Important Thing Podcast are here!
Please join NFT3 Founder and Lead Initiator Dylan Dewdney, NFT3 Lead Narrator Shashwat Eternal and special guest Trevor Koverko, legendary early Bitcoiner + Ethereum early Supporter as well as Founder in the web3 space.
With Dylan and Trevor cumulatively having multiple decades of experience in the space, this conversation naturally veered towards longevity, survival, and long term orientations. Some of the ideas we touched on were:
- Bull or bear — Everything returns to the benefits of blockchain long-term
- Our podcast is more philosophy based than technology or speculation based — for better or for worse!
- Dylan found out about Trevor from Polymath days — long ago.
- Trevor used to be a hockey player in the NHL before becoming a Founder!
Being around for a long time in a space as edgy as cryptocurrency is a function of curiosity as well as courage
- Trevor made his first BTC investment on ebay in 2010!
- Trevor exited that same early BTC to invest in the Ethereum crowdsale in 2016
- Polymath began from the capital he amassed through these early wins in crypto, focusing this time on building and bringing value to the entire space which is now called web3
- Early ETH builders went on to go and build amazing things: Cardano, ConsenSys, Polkadot
- Long term holding is the ONLY way to see who is “in it for the tech”
- The reason to join a movement in Trevor’s words: when you see smart people you respect enter a space en masse, you should stop ignoring it
- Toronto was a hotbed for BTC and Crypto in the early days. A LOT of innovation came from Toronto (including Ethereum)
- For two folks from Toronto, it’s bittersweet to see crypto go entirely global: top projects coming from South Africa, Australia, India and so forth. It speaks to the core values of decentralisation, as well as brings the joy of seeing the movement grow
- There was a time early on when BTC maxis thought BTC was all we needed!
Making the tech as invisible as possible is going to be the tipping point for web3 mass adoption
- Tribalism in web3 has two sides: it’s a little harmful because of the infighting, sure — BUT it also shows that the people building in this space care, are passionate, and is healthy long-term since it makes the free market evolve quicker
- Channeling the tribal energy into real governance would be a significant sign of progress in the space (not just builders but participation as well)
- Tokens also amplify the tribalism in web3 as well, but again, it just means people are simply more invested
- First principles are where we must begin, specially in a space like web3
- There’s a thin and sharp line between skin in the game and incentive
- Razor: Do you have research that created a conviction that you are following with getting skin in the game by investing? Or have you first bought a token and are hence blinded by the incentive of wanting it to go up, not really having looked into the underlying principles?
web3 is currently still in the infrastructure layer, transitioning now into the protocol layer
- dApps will be the next layer when all the building blocks are robust enough and advanced enough
- Smart talent is still laser focused on building the infrastructure that’s going to enable decentralised dApps
- Timescale wise: we’re still at the protocol phase, the plumbing phase if you will!😝
- Some things to think about when it comes to mass adoption: safety, ease of use, network capacity, security
- Is web3 having its 1999 moment?
- web3 builders cannot take their eyes off decentralisation: THIS is the main problem with FTX
- Crypto-native builders are needed — not aliens to the underlying philosophy of cryptocurrency which is and always was decentralisation and sovereignty for the individual empowered by technology
The ending quote for this podcast is actually by Trevor himself: “The bear market is like a hangover: embrace the hangover!”
🎯Parting advice from Trevor: do tactical cleanup, embrace the hangover, focus on survival but strategically be aggressive as well — this cohort of builders and investors is going to have the highest returns when the tide rolls back in. Cheers!
Without further ado, here’s Episode 3:
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