Qiao believes that now is the best time to turn to cryptocurrency.
Compiled & Edited by: Deep Tide TechFlow
Guest: Qiao Wang, @alliancedao Customer Support
Host: Imran Khan, @alliancedao Support Founder
Podcast Source: Good Game Podcast
Original Title: The Golden Age of Crypto | EP 65
Broadcast Date: November 15, 2024
Background Information
At the beginning of the podcast, Imran and Qiao reviewed their conversation from 2017 or 2018, discussing when the "final boss" would appear. Imran believes they seem to have defeated this "final boss," which is the situation where the president fully supports cryptocurrency. Nevertheless, Qiao expressed caution, stating that one should not be complacent, as there are still some members of Congress opposing crypto products.
Imran further shared his current mindset, stating that he feels excited every day and no longer checks his phone or market dynamics. He mentioned that he hadn't felt this excitement in the past two years, while Qiao noted his concern about market volatility, especially missing the opportunity to buy Tesla on election night. They discussed how, in a bull market, many assets rise, which can confuse investors and make decision-making difficult.
Peanut and Trump's Victory
Qiao and Imran explored the reasons for the listing of "Peanut" on Binance. Imran shared information he learned from a major exchange, pointing out that Binance is adjusting its market positioning from infrastructure to undervalued new tokens, aiming to allow users to gain wealth in the future. He mentioned that although "Peanut" initially had a market cap of $15 million, its potential is significant, similar to the previous "Neiro," which quickly reached a market cap of $1 billion after listing.
Qiao further recalled their discussion from six months ago, believing that many centralized exchanges listing high liquidity market cap (FDV) tokens have led to users losing money after the tokens are listed, which ultimately affects the exchanges' own interests. Imran agreed with this view, believing that Binance's strategic adjustment is correct and that other exchanges are likely to follow this trend.
When discussing his portfolio, Imran jokingly mentioned that 95% of his investments are meme tokens, while Qiao expressed dissatisfaction, believing such a portfolio is unwise. The two also discussed AI-related tokens, with Imran admitting he is not very familiar with some of the projects.
AI Tokens
Imran stated that he believes now is a critical moment for the development of AI tokens, which are forming an independent subcategory, similar to cultural coins or animal coins. He is confident that AI tokens will perform quite strongly in the market.
Qiao mentioned the speculative nature of some tokens, believing that many tokens are essentially "pump coins." Imran agreed, stating that if a token is not a pump coin, it might just be a joke. He noted that while these tokens may be seen as speculative, if they can survive the market's tests, they have undergone "battle testing" and are therefore worth investing in.
Qiao raised a question, expressing confusion as to why exchanges do not list gold-related tokens, as gold is a highly liquid asset.
Imran explained that it might be because gold is more suitable for futures contracts (perps) rather than tokens. They discussed different AI tokens, with Qiao observing that some tokens have high trading volumes, believing that centralized exchanges should prioritize listing these more liquid tokens.
“DAOS.fun may be the next hot trend”
Imran mentioned that DAOS.fun could become the next hot trend. He recalled noticing this project early on but did not pay much attention at the time. He mentioned some projects he observed, such as Luna, Virtual Goat, and Far Coin, and shared some insights, although he emphasized that this is not investment advice.
Imran believes that projects like DAOS.fun may become the next wave, comparing it to early Crypto Punks, recalling how interest in NFTs gradually increased. He noted that AI 16 Z's market cap once reached $100 million but then fell back to between $10 million and $15 million, which makes him optimistic about DAOS.fun's future.
Qiao further confirmed Imran's point, asking if he meant DAO tokens as a new trend. Imran confirmed this, emphasizing that DAOS.fun as a platform is becoming an incubator and has a very strong team behind it.
AI16Z's High-Level Dynamics
Imran shared some high-level dynamics regarding AI16Z. He mentioned his communication with Shah, a key figure behind AI16Z. They recently had a conference call or Twitter space discussion with Miao and Bao from Dao Zafan, where Imran raised many questions as he felt confused about the future developments in this field.
Imran mentioned some high-level insights. He believes that the automation of AI robots is not yet mature and expects significant progress in the next two to four months, at which point these robots will be able to autonomously control their private keys and trade on crypto networks.
He also emphasized that the members of the AI16Z team have strong research backgrounds in both AI and cryptocurrency. He observed that many founders have a skill set of about 70% cryptocurrency knowledge and 30% AI knowledge. He stated that if they cannot answer AI-related questions, it indicates a lack of understanding in this area. Therefore, Imran believes that the skill set of the AI16Z team is very appropriate, possibly being 70% AI and 30% cryptocurrency or 60% and 40%, which is the right direction for building an excellent AI crypto startup.
What Changes Will Happen After Trump's Victory?
Qiao suggested that everyone is concerned about what changes will occur after the new president is elected. He believes this topic is the most pressing issue in people's minds.
Imran expressed his view that discussions about cryptocurrency over the past decade have mainly focused on the concept of the "final boss," and now it seems they have defeated this "final boss," which is a president who supports cryptocurrency. He mentioned that although there are still opponents of crypto products in Congress and the Senate, they have made significant progress overall.
He noted that recent regulatory changes have made it easier to launch tokens in the U.S., which will help founders focus more on product development rather than spending too much time on complex governance structures. Imran believes this is a positive change for founders, as they can better concentrate on user needs and product development.
Qiao agreed but also cautioned against being overly complacent, expressing concern about whether they have truly seen the "final boss." Imran acknowledged that this caution is reasonable but pointed out that some large institutions, like BlackRock, are actively investing in Bitcoin, indicating that the market is changing. He also mentioned Trump's recent ICO project, which, although it raised little funding, is still an interesting phenomenon.
Finally, Imran believes that Trump's election will have a positive impact on founders, even though uncertainties remain in the market. Qiao wanted to learn more about the specific impacts Trump's election might have on founders.
Shift in Market Atmosphere
Qiao emphasized that the most important change currently is the government's attitude towards cryptocurrency founders becoming more welcoming, which is crucial for the sharp decline in the number of crypto-based startups in the U.S. over the past three years. According to their data, this ratio has dropped from 80% to 20%. He mentioned that the political environment has a significant impact on crypto entrepreneurship, and on election night, he stated that the fate of U.S. cryptocurrency would be decided that day.
Qiao believes that the new government will restore confidence in founders who previously hesitated to start businesses in the crypto space due to political attacks, especially among founders in the San Francisco Bay Area. Over the past few years, the entrepreneurial atmosphere in San Francisco has shifted from crypto to AI, with many crypto hacker houses now occupied by AI entrepreneurs.
Imran further elaborated on this, mentioning a conversation with their chief engineer, Carter. Carter is active in many AI groups in San Francisco and found that crypto hacker houses have almost lost their popularity, with AI developers dominating these spaces. He inquired whether there were any ongoing crypto projects but found that apart from a few highly technical projects, ordinary crypto entrepreneurs have nearly disappeared.
Qiao also pointed out that many startups they support have abandoned their products over the past two years, most of which are located in San Francisco. He believes that this phenomenon is driven by immense pressure from peers. He gave an example of a founder who called him before transitioning, expressing that her friends were developing projects that could change the world, while she was working on "speculative" or "casino" type products, which made her feel very frustrated.
The U.S. Will Become the Center of Cryptocurrency Again
Qiao and Imran discussed the potential impact of the new government on the cryptocurrency industry, particularly the possibility of the U.S. re-establishing itself as a center for cryptocurrency.
Qiao expressed confidence that within the next four years, the U.S., especially New York, will re-establish itself as a global cryptocurrency center. He believes that domestic founders will be more open to developing cryptocurrency, while international founders will also be more likely to come to the U.S. to start businesses.
Qiao also mentioned that if Trump could fire Gary Gensler on the first day and appoint a Treasury Secretary who is friendly to cryptocurrency, it would bring positive changes to the crypto industry. He looks forward to a series of new legislations regarding stablecoins, securities laws, token issuance, and crowdfunding, all of which would help promote the development of new application scenarios. Although these changes may take time, he believes the effects will be seen quickly.
Imran then mentioned the issue of "Choke Point 2.0," noting that there is still a lack of suitable banking infrastructure, making it difficult for founders to open crypto accounts. They are often forced to use banking service applications like Mercury, which have certain limitations on the types of products they can support. During the application process, they must treat it as a fintech application rather than a crypto application, which creates many obstacles for crypto entrepreneurs.
Imran pointed out that due to these issues, most products tend to lean towards speculation and gambling, causing some potential founders in Silicon Valley to lose interest in developing non-speculative products. He believes this creates a vicious cycle, leading to a predominance of gambling-related content in the market, further affecting the reputation of the crypto industry.
Finally, Imran stated that with the clarification of the regulatory framework, more regulatory clarity is expected to emerge in the coming year, which could bring new opportunities for the crypto industry.
Now is the Best Time to Turn to Cryptocurrency
Qiao and Imran expressed optimism about the cryptocurrency industry in the coming years. Qiao emphasized that their startups have suffered from government crackdowns and faced many challenges over the past few years, which makes him excited about the arrival of the new government. He believes that now is the best time to turn to cryptocurrency, and he is confident and even excited about it.
Imran mentioned the concept of "luck," emphasizing that for founders, the key is to work in the right direction, regardless of the current environment. As long as they continue to build in this field, good results will eventually follow. He believes this is an important moment, not just for the two of them, but for all founders in the crypto space.
Imran referred to it as "the golden age of cryptocurrency," predicting that the next four to five years will be a highly influential period, during which some unprecedented new business models may emerge.
Crowdfunding and the Tokenization of New Things
Qiao mentioned that they have accepted a batch of startups centered around the concept of crowdfunding into the next incubation cycle, particularly ideas about cross-border crowdfunding and the tokenization of new things. He pointed out that in the past, crowdfunding mainly focused on popular projects, such as tokenized memes, but in reality, there are many other things that can be tokenized. Therefore, against the backdrop of regulatory changes, they have made significant investments in these emerging startups.
Imran further added that almost any project with substantial content can be crowdfunded. He is optimistic about the new batch of founders they have accepted, believing this will allow more users who have not previously engaged with cryptocurrency to enter the field. This positive view on crowdfunding and tokenization reflects their confidence in the future development of cryptocurrency and their desire to attract new users through innovation.
Perception and Popularization of Cryptocurrency
Imran expressed a desire to change the external perception of cryptocurrency, pointing out that when working with some founders, he found that many traditional industries hold negative attitudes towards cryptocurrency. For example, the gaming industry, creator art communities, and sports teams have expressed aversion to cryptocurrency. He believes this opposition reflects a gap between the crypto circle and other industries.
Qiao provided a counterexample, mentioning that he noticed the OKX brand logo on Manchester City's jersey while watching the Premier League, indicating that some sports teams are beginning to collaborate with cryptocurrency brands. Although Imran believes that brand collaboration is different from the actual use of crypto products, Qiao pointed out that if they want to tokenize sports teams, these teams need to have an open attitude towards cryptocurrency.
Imran acknowledged this viewpoint, considering it a good first step, and mentioned that as the regulatory environment changes, more similar innovative products may emerge. He is excited about the potential of future crypto products and mentioned relevant developments from Coinbase, suggesting that the cryptocurrency industry is moving forward. This conversation reflects their expectations for the popularization and acceptance of cryptocurrency, as well as their desire to improve the industry's image through collaboration and innovation.
Coinbase Developments
Qiao mentioned that he managed his parents' retirement investment portfolio by purchasing Coinbase stock at $160 per share two weeks before the election. Now, the stock price has exceeded $300, which has led his parents to start believing that he has made a lot of money in cryptocurrency.
Imran also shared a similar experience, stating that he had suggested investing his mother's retirement funds in Coinbase and mentioned that they had previously discussed how Coinbase would outperform Bitcoin. Qiao further joked that now Imran's mother also believes he has become wealthy.
Imran humorously recounted how his mother asked why Coinbase's price hadn't risen after Trump's election. He explained that the market is closed at night, and one cannot expect to see price changes immediately after the election. This interaction shows their understanding and response to the volatility of the cryptocurrency market.
At the end of the conversation, they discussed investors' expectations for the upcoming presidential inauguration. Imran believes this has become a market consensus, with many waiting for this moment to decide whether to sell Coinbase stock.
Qiao suggested not to sell at least before the inauguration, reflecting their attention to market dynamics and their judgment on future trends.
Future Predictions for Tech Stocks
Qiao mentioned that he is waiting for Jack Miller to provide an analysis of macroeconomic indicators. Jack Miller recently expressed an optimistic view on tech stocks in an interview, which is good news for Bitcoin's development.
Qiao believes that the economic situation is good, with no signs of recession, and that Trump's policies will help economic recovery, which is a positive signal for the next three to six months.
However, Qiao also mentioned concerns about inflation in the medium term, believing that this issue needs to be closely monitored next year. He suggested that investing in commodities might be a good choice in the face of inflation risks.
The Relationship Between Inflation and Commodity Investment
Qiao discussed his investment in copper, believing that copper is an effective tool against inflation. He mentioned that copper is an investment in the growing demand for AI data centers, as these data centers require more power. Qiao believes that copper can serve not only as a hedge against inflation but is also closely related to the long-term trend of AI.
Imran inquired whether, apart from holding AI stocks, copper is the best way to invest in AI. Qiao agreed and further mentioned uranium as an investment choice for building nuclear power plants.
When discussing energy stocks, Qiao mentioned that he had researched them a few months ago but did not find strong investment opportunities in energy stocks, especially in utility companies. He pointed out that digital companies are mostly government-supported and regulated, so he is cautious about these stocks.
Reflections on American Politics
Imran delved into his views on the current state of American politics and society. He reflected on the wars and economic challenges he has experienced throughout his life, expressing concerns about the future, particularly regarding employment, wage growth, and rising living costs. He mentioned that this situation makes him feel as if he is forever trapped in debt.
Imran also mentioned that he had considered moving to another country in search of a more organized and efficient environment to create a better future for his children. However, he resonated with JD Vance's perspective, which emphasizes the "America First" ideology and opposition to endless wars. He believes that Vance's upbringing and the lives of ordinary Americans share many similarities, making his views more persuasive.
Imran feels conflicted about the future, pondering whether America has entered a new phase that can build a better society for millennials and Generation Z, or if it is all just a facade, with traditional powers still controlling the world in pursuit of global dominance.
Expectations for a New America
Qiao expressed his support for JD Vance, considering him a trustworthy leader, and mentioned that his views on Trump have also changed over the past period. They both feel optimistic about the ideas of small government and deregulation, believing this will lead to higher efficiency and better governance.
Imran expressed dissatisfaction with the current political system, particularly concerns about conflicts of interest. He mentioned that many government officials have ties to large corporations, which undermines the public's voice and power. He quoted Elon Musk's viewpoint, emphasizing the need for regulation to start from the grassroots level, rather than allowing those who frequently switch roles between government and corporations to manage.
Qiao and Imran both hope to see a new political direction that can break the old elite system and create a more transparent and efficient government. Their expectations for the future focus on leaders who can achieve economic reform, reduce deficits, and improve governance structures.
Predictions for Future Politics
Imran mentioned that millennials and Generation Z (especially young leaders like JD Vance and Vivek) are gradually reclaiming power. He believes that JD Vance's role as Vice President could pave the way for his future presidential campaign.
Qiao also expressed optimism about the future political landscape, mentioning that Vivek might run for president in 2028. They are both excited about the rise of young leaders and believe this will bring new changes and opportunities to the U.S.
When discussing the influence of Indians in global politics, Imran humorously noted the increasing influence of Indians in the UK, even mentioning the achievements of some Indian-origin politicians. They discussed the historical relationship between India and the UK and acknowledged India's rise in the economic and technological fields.
Emerging Crypto Applications and Products
- Imran asked Qiao about his experiences with cryptocurrency, shifting the discussion to crypto products, indicating their interest in future technological and financial innovations. Overall, this conversation showcased their positive outlook on future politics and the potential changes brought by the younger generation of leaders.
Development of Tribe.run
- Imran and Qiao discussed emerging crypto applications and products, particularly a platform called "Tribe.run." Imran expressed his interest in this application, viewing it as an innovation over existing social media platforms like Facebook and Friend.tech.
Token System: Users purchase interactions with creators through tokens instead of traditional keys. This approach allows users to participate more flexibly rather than relying solely on high key prices.
Limited Interactions: The platform has a mechanism that allows the first 12 token holders to chat with creators immediately, increasing the uniqueness and scarcity of interactions.
On-Demand Questions: Users can choose to pay a fee to ask questions instead of having to purchase tokens to participate in interactions.
Fractional Tokens: Users can purchase parts of tokens, making participation easier, especially for those who are unwilling or unable to afford the full token price.
Imran believes that the platform's experiment on Solana is a fresh attempt and has already attracted a loyal user base. He is optimistic about the product's future, believing it has the potential to gain more attention and usage.
Qiao mentioned that he had used the application but was dissatisfied with his experience due to an update that prevented him from sending messages. They also reminisced about their interactions during price competitions, with Imran noting that Qiao stopped using the application after he won the competition.
Features of the "Defined" Mobile Application
- Imran introduced a new application he has been using recently—the DeFi Mobile App—and stated that he now relies entirely on this app to find new tokens and trading data. He mentioned that this app provides significant convenience when using cryptocurrency.
Features of the DeFi Mobile App:
Comprehensive Data Access: Imran emphasized that this app is very effective in finding and analyzing new tokens, meeting his needs for conducting crypto transactions on mobile devices.
User Feedback: Imran mentioned his previous negative review of another app (Deck Screener) and noted that he received feedback from the audience, leading him to decide not to criticize that app directly anymore. This shows his respect for user opinions and willingness to adjust his expression.
Imran's shift indicates his exploration of emerging applications and focus on user experience, reflecting the rapidly evolving dynamics of the crypto space and changing user demands. Overall, his positive evaluation of the DeFi Mobile App demonstrates his openness to new technologies and tools, as well as his determination to find better solutions in cryptocurrency trading.
How to Turn $100,000 into $10 Million
- Imran and Qiao discussed strategies for turning $100,000 into $10 million. Imran proposed several methods, while Qiao expressed skepticism about the difficulty of achieving this goal.
Imran's Strategies:
Deep Dive into New Tokens: Imran emphasized that to succeed in the cryptocurrency market, one must be fully committed. He mentioned that there are many new tokens ("shitters") that can rapidly appreciate in a short time, so constant market monitoring is necessary.
Utilizing Information and Intuition: He mentioned using tools (like Pump Pro) to track new tokens and make purchasing decisions based on market trends and the "meme" of the tokens. He believes intuition is crucial when selecting tokens.
Phased Investment:
Short-Term High-Risk Investments: Look for smaller market cap tokens and sell them once their market cap reaches a certain level.
Long-Term Stable Investments: Once profits are made, shift to investing in larger, relatively stable tokens. For example, he mentioned some tokens with market caps between $8 million and $9 million that have the potential for further growth.
Pay Attention to Market Noise: Imran believes that while there is a lot of noise in the market, it also means that meme token investments become easier, as overlooked opportunities can be found.
Qiao's Perspective:
Qiao expressed skepticism about the feasibility of turning $100,000 into $10 million. He believes that achieving this goal requires full-time commitment and the development of good intuition. He mentioned:
High-Risk Investments: One could invest all $100,000 in smaller market cap tokens, hoping their prices increase tenfold, thus turning $100,000 into $1 million.
Shifting to Large Market Cap Tokens: Once reaching $1 million in assets, it would be necessary to participate in larger market cap tokens (over $100 million), as investment opportunities in small market cap tokens would decrease.
Current Status of NFTs and Their Communities
Imran's Perspective:
Optimism for Ricardios: Imran expressed strong optimism for the Ricardios community, calling it "a cult." He believes that strong NFT communities often exhibit loyalty and cohesion similar to "cults."
Market Trends:
Imran mentioned some projects he considers to have strong NFT communities, such as Pudgy Penguins and Crypto Punks. He believes these projects hold significant positions in the NFT market.
He noted that Morad has an NFT list that may include other noteworthy projects.
Views on Malaysia: Imran believes Malaysia is currently one of the strongest NFT projects, with many other projects being derivatives based on Malaysia. He mentioned participating in several Telegram groups and observing that many projects are developing around Malaysia.
Comparison of Ethereum and Solana: Imran pointed out that the speculative capital for NFTs is currently distributed about 70% on Solana and 30% on Ethereum. He believes that acquiring speculative capital for NFT projects is relatively difficult and involves higher risks.
Specific Projects:
He mentioned some NFT projects based on SPX 6900, as well as the Proto Gremlins project related to Harry Potter.
Additionally, he mentioned some traditional NFT projects, such as Crypto Punks and Pudgy Penguins, which still have a strong influence in the NFT market.
Qiao's Perspective:
- Qiao holds a relatively conservative view on the NFT market, mentioning some thoughts on price predictions. He hinted that the market may experience volatility and mentioned his plans to purchase a Cybertruck, which could influence his investment decisions.
Year-End Price Predictions
Imran's Perspective
Bitcoin Predictions: Imran expressed strong optimism for Bitcoin's future, betting $500 that Bitcoin will exceed $100,000 by 2026. He believes this is a "simple bet" and is confident that this goal could be achieved in the near future.
Market Dynamics: He mentioned that recently large investors (like Taylor) have invested significant amounts (around $200 million) into Bitcoin, indicating growing market confidence in Bitcoin.
Views on Ethereum: Although Imran is optimistic about Bitcoin's prospects, he expressed uncertainty about the future prices of Ethereum and Solana. He believes the future of these two projects depends on various factors, including technological advancements and market demand.
Qiao's Perspective
Optimism for Bitcoin: Qiao also holds an optimistic view on Bitcoin's short-term performance, even suggesting that Bitcoin might break $100,000 as soon as next month or next week.
Focus on Ethereum: Qiao mentioned Ethereum's technology and ecosystem, but he believes Ethereum lacks some key developers and builders, which could impact its future development.
Outlook for Ethereum 3.0
- Imran and Qiao delved into the dynamics of the cryptocurrency market, particularly the future trends of Bitcoin and Ethereum, as well as their personal experiences in the investment process.
Imran's Perspective:
Bitcoin Predictions:
- Imran is optimistic about the future of Bitcoin, betting $500 that Bitcoin will exceed $100,000 by 2026. He believes this bet is relatively simple and is confident in Bitcoin's significant upward potential in the future.
Market Dynamics:
- He mentioned that recently large investors (like Taylor) have invested $200 million into Bitcoin, indicating that market confidence in Bitcoin is increasing, which may drive its price up.
Views on Ethereum:
- Despite his optimism for Bitcoin, Imran expressed uncertainty about the future of Ethereum and Solana. He believes the performance of these two projects will be influenced by various factors, including technological advancements and market demand.
Qiao's Perspective:
Optimism for Bitcoin:
- Qiao is also optimistic about Bitcoin's short-term performance, believing it may break $100,000 as soon as next month or next week, showing his confidence in the market.
Focus on Ethereum:
- Qiao mentioned the technology and ecosystem of Ethereum but pointed out that Ethereum lacks some key developers and builders, which may impact its future development.
Personal Investment Experiences:
Purchase of Cybertruck:
- The two shared their experiences of purchasing the Cybertruck. Imran expressed feeling deceived during the purchase process as the price dropped shortly after. In contrast, Qiao felt satisfied with his choice but regretted not purchasing Cyber Bees, reflecting their different experiences and feelings in investment decisions.
Is ETH Making a Comeback?
Qiao's Perspective:
Execution Capability: Qiao emphasized that the future of Ethereum depends on how well it executes its existing plans. He referenced Justin Drick's viewpoint, questioning whether there is consensus within the team.
Historical Performance: He pointed out that Ethereum has failed to execute quickly over the past decade, putting it at a disadvantage in market competition.
Imran's Perspective:
Network Effects: Imran mentioned that the Ethereum Virtual Machine (EVM) still has strong network effects, with about 60% to 70% of developers still building on EVM, which makes him optimistic about Ethereum's future.
Execution Challenges: He agreed with Qiao's view that Ethereum is slow to roll out new features and needs to ensure consensus among all parties to effectively drive project development.
Philosophical Differences:
- Comparison of Ethereum and Solana: Qiao and Imran discussed the fundamental philosophical differences between Ethereum and Solana. Solana advocates for a "move fast and break things" approach, while Ethereum takes a more conservative stance, focusing on stability and security.
Other Discussions:
Research Orientation: Imran mentioned Ethereum's emphasis on research and community feedback, stressing the need to establish multiple feedback loops and engage in debates to drive better decision-making.
Vitalik's Article: Imran referenced an article by Vitalik Buterin discussing the concepts of prediction markets and information finance, indicating the Ethereum community's efforts to explore new ideas and technologies.
Vitalik's Article - "From Prediction Markets to Information Finance"
- Qiao and Imran discussed Vitalik Buterin's article "From Prediction Markets to Information Finance" and expressed some views on Vitalik's perspectives on products.
Qiao's Perspective:
- Disconnection from Users: Qiao believes that Vitalik's understanding of the market seems disconnected from the actual needs of users. He mentioned that while he respects Vitalik's views, his insights may not be close enough to user needs in product development.
Imran's Perspective:
- Respect but Disagreement: Imran expressed respect for Vitalik, acknowledging that his contributions and viewpoints in technology are valuable. However, he believes that in product development, Vitalik should empower actual product developers more and refrain from excessive speculation.
Core of the Discussion:
- Separation of Product and Technology: Both agreed that while Vitalik's technical insights are profound, true product developers understand user needs and market dynamics better when it comes to product design and market demand.
Year-End Predictions for ETH and Solana
- Imran posed a question, asking for predictions on the future of Ethereum and Solana, hinting at their thoughts on the competition and development potential of these two blockchain platforms.
Qiao's Predictions:
Solana: He mentioned that Solana's price could reach $420.
Ethereum: Qiao predicted that Ethereum's price would reach $3,314.
Bitcoin: He expects Bitcoin's price to reach $96,000.
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