Mobile was Internet 2.0. It changed everything. Crypto is Internet 3.0.

Crypto today is a libertarian paradise. If you send your money to the wrong place, it's gone. If you send it to a merchant and don't receive the goods, you have no recourse. This is cash. Treat it as such.

For merchants, it is an amazing opportunity. Compared to Paypal, crypto has no credit card fees, no charge backs, no 'Oops, we decided to hold your cash for 3-12 months while we investigate something we can't disclose.'

It's clear to me now that Ethereum is the new currency of the Internet. It's way ahead of where Paypal was in its day, and it's much more exciting to its customers than Paypal ever was.

I was one of the early folks at eBay, and by 1999, it was completely overrun by consultants from McKinsey, Bain, and BCG. It went from being a cool, fun startup to an MBA factory.

Any ICO going forward that doesn't use a 'Ticketmaster-style' queueing engine is clearly trying to ruin the ecosystem.