On the 10th birthday of the Bitcoin network, Arjun Balaji, founder and managing partner at Shomei Capital, explains why doesn't worry too much about potential bugs in the code such as there was last fall, why we'll see improved scalability, privacy and fungibility in the top cryptocurrency in 2019, and why he believes the Lightning Network will foster more developer activity on Bitcoin.  He also explains his view that governance tokens and token curated registries will be less popular than they were in 2018 and how such systems further entrench existing power structures. We look at the different waves of crypto funds, how they'll differentiate themselves during the crypto winter, and why we'll see some consolidation in that sector. Plus, he explains why long-term, value from security tokens will be captured by underwriters and why it's unclear who are the right investors for security tokens. Thank you to our sponsor! CipherTrace: https://ciphertrace.com/unconfirmed Episode links: Arjun's crypto theses for 2019: https://medium.com/@arjunblj/crypto-theses-for-2019-dd20cb7f9895 CVE bug in Bitcoin caught last fall: https://www.coindesk.com/the-latest-bitcoin-bug-was-so-bad-developers-kept-its-full-details-a-secret