By Bitcoin 雜誌 - 1 年前 - 閱讀時間：5 分鐘
風險投資的未來在於投資 Bitcoin-只有公司
Among the plethora of investors in the crypto world, there is a niche that shares common visions and strategies. They are the Bitcoin-only venture capitalists.
“The smartest people in the world are working on Bitcoin, they’re not working on some other project,” 邁克·賈木茲 告訴 Bitcoin Magazine. “They’re not working on altcoins or selling real estate in a metaverse fantasy land. Your medical records are not going onto some other thing masquerading as a blockchain. We view these as ridiculous and completely uninvestable ideas.”
Jarmuz 是一家名為 閃電創投, whose peculiarity is that it focuses its investments solely on companies that develop products and services on bitcoin and no other cryptocurrency.
“The 21st century digital economy is being built on Bitcoin-native companies,” added 麥克沙恩, a venture partner at Lightning Ventures and employee at BTC Inc, which operates Bitcoin Magazine. “We invest in best-in-class Bitcoin founders who deliver focused, and differentiated, value to humanity. We are determined to return a multiple to our investors through Bitcoin companies that strive to make a positive impact on the world.”
And Lightning Ventures is not alone, but rather part of a growing niche, that of Bitcoin-only venture capitalists (VCs).
加密對沖基金的衰落
去年，在牛市的高峰期，加密貨幣 VC 佔據了頭條，湧入 的美元33億元 into crypto/blockchain/Web3 projects and startups. This golden age was very short-lived, as this year's market crash also claimed illustrious victims in the world of hedge funds: one in particular was 三箭資本，在無法償還超過 670 億美元的貸款後於去年 XNUMX 月違約。
這種突然的收益和崩潰對於風險投資基金來說並不常見， 傳統上以 10 年的時間範圍進行投資，而不是僅僅幾個月的視野。 然而，當賭注押在憑空發行代幣的項目上時，一旦這些項目在熱情的浪潮中升值，將投資活動轉變為投機的誘惑就會非常強烈——當市場逆轉時，就有被燒毀的風險課程。
低時間偏好
The crypto hedge funds demonstrated the mentality of the short term — the opposite of that shared by VCs who believe in Bitcoin's long-term success, investing in those companies that, without issuing useless tokens invented on the spot, try to develop services that bring real value to the market.
“Early-stage Bitcoin startup or angel investing is definitely a low time preference choice,” Jarmuz specified. “Many ‘crypto’ projects choose to issue unlicensed, unregistered securities, in exchange for equity but you don’t end up with quality investors. What happens is that investors dump those ‘tokens’ or equity the minute they can. With our Lightning Ventures’ thesis and Bitcoin-only investments, we are committed for the life of the company and are not concerned with selling ‘tokens’ the moment we can. When we invest in a company, we back it and support it throughout its entire life cycle.”
在同一頁上是 克里斯托弗·卡利科特 of 特拉梅爾風險投資夥伴或 TVP，他表示，通過產生代幣來吸引客戶的項目融資想法不僅是短期觀點的症狀，而且也不符合風險投資基金的典型激勵措施。
“投資這些代幣，”Calicott 說，是真正發展公司並取得最大成功的根本利益錯位。 投資者實際上變成了試圖在最佳時機平倉的投機者。”
Moreover, while there used to be a feeling that it was difficult to build on Bitcoin — and so many moved to other cryptocurrencies — today things are changing:
"Bitcoin is becoming a platform and entrepreneurs are starting to realize that,” Calicott continued. “There’s blood in the streets being brought by the crypto industry, but despite this, there are now more entrepreneurs willing to build services on Bitcoin than ever before. We see ourselves as long-term investors. We are trying to make smart bets on companies that we think can usher a whole new global monetary order on a solid standard: Bitcoin“
克服過時的系統
A new monetary standard, a global store of value, a peer-to-peer payment method that renders the big traditional players obsolete. Whichever way you look at it, Bitcoin offers a vision of the future that completely overturns the paradigms to which we are accustomed: the idea of inflation necessary for growth, that of macro-economic control by states and central banks, that of having to entrust the management of savings and digital payments to intermediaries.
Is the old way of seeing things compatible with the Bitcoin future? According to 自我死亡資本的網站， 它不是。
“為了讓新系統蓬勃發展，帶來豐富、機會和可及性，舊系統必須自我毀滅，”根據這家風險投資公司的網站，其首席執行官是 傑夫·布斯，《明天的代價》的作者。 “要做到這一點，就需要一個‘自我投降和過渡’的階段。”
確認視圖是 尼科·勒楚加 和 安迪皮特, 都是 Ego Death 的普通合夥人。
"The traditional system is already self destructing," they explained. “Banking systems fail billions of people around the world — it is very evident in emerging markets but even in Western countries. Meanwhile, the Visa and Mastercard duopoly holds back innovation and opportunity so as competition arises — including through the Lightning Network, providing very fast and low-cost transactions — they are already in the process of self-destructing.”
閃電網絡也被視為支付遊戲規則的改變者 奧列格·米哈爾斯基 of 風投創投，因為正如他所說，“幾乎即時的結算和非常有限的交易對手風險是閃電網絡的一個特點，它可以很好地減少傳統的支付管理費用並降低法定鐵路中存在的交易對手風險。”
"For the digital economy to grow,” added Mikhalsky, “we need a native digital currency that has two features: velocity and the ability to make micro-transactions. We believe Bitcoin and Lightning will become the global monetary and payment standards. Some aspects of the Lightning Network adoption spectrum are yet to be explored: we see some adoption in video games, digital content monetisation, but there are other use cases such as machine-to-machine payments and micro-transactions for energy."
More And More Bitcoin-Only Startups
Contrary to what one might think, in a year when the market collapsed dramatically, the world of Bitcoin-only startups has experienced very indicative growth. As confirmed by all VCs surveyed for this article, the number of companies focused exclusively on Bitcoin has grown significantly over the past year. It is plausible to think that when the Pandora's box of the crypto world was discovered, at that point, entrepreneurs realized that it was wiser to focus on the one technology whose fundamentals have never stopped strengthening since the beginning.
朱利安·利尼格首席執行官 瑞萊 — a Swiss startup which allows users to buy and sell bitcoin in a non-custodial way — emphasized that future growth.
“In the long run, it is less risky to invest in Bitcoin-only startups than in crypto startups: investors see Bitcoin-focused companies as more profitable and a more sustainable business model,” he explained. “With Bitcoin-only VCs, we are 100% aligned. They see the future in 10 years, they understand where we are going, they understand that all the experiments that are happening on other blockchains will end up on Bitcoin“
這是 Federico Rivi 的客座帖子。 所表達的意見完全是他們自己的，不一定反映 BTC Inc 或 Bitcoin 雜誌。
原始來源： Bitcoin 雜誌