MemCast
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Era 1 (2009‑2017): Bitcoin proved that sound money can exist without a state
  • The first eight years of crypto were a proof‑of‑concept that a decentralized, scarce digital asset could function as money.
  • Bitcoin’s security model, limited supply, and global accessibility demonstrated that trust can be algorithmic rather than institutional.
  • This era laid the groundwork for a new monetary paradigm, showing that a stateless currency could survive market cycles and attacks.
  • Balaji sees Bitcoin’s success as the essential foundation for all later crypto developments.
Balaji SrinivasanNetwork State Podcast00:33:20

Supporting quotes

The first 8 years proved Bitcoin would work. Balaji Srinivasan
Then the next 8 years proved that programmability would work, including scalability. Balaji Srinivasan

From this concept

The Three Eras of Crypto

Balaji breaks crypto's evolution into three eight-year periods: Bitcoin proving sound money, Ethereum delivering programmable money, and an upcoming privacy-first era driven by zero-knowledge technology.

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