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How Belief in Bitcoin Built a $3.3B Crypto CompanyㅣKonstantin Richter, Blockdaemon
@ EO
05/03/25
Takeaways
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Konstantin Richter
05/03/25
@ EO
As a founder, I need to switch off my logical brain at times because I'm working on a problem that nobody else sees.
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Konstantin Richter
05/03/25
@ EO
Blockdaemon now manages 250,000 nodes, demonstrating the importance of holding onto ideas that others deem bad.
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Konstantin Richter
05/03/25
@ EO
Blockdaemon is a leading institutional gateway connecting financial institutions to blockchains and the Web3 ecosystem, with 70% of the top 500 companies in crypto as customers.
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Konstantin Richter
05/03/25
@ EO
I was inspired by the fall of the Berlin Wall, realizing the need for incorruptible systems to establish truth in society.
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Konstantin Richter
05/03/25
@ EO
Bitcoin emerged as a response to the 2008 financial crisis, aiming to take control of money away from banks and create a transparent and fair system accessible to everyone.
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Konstantin Richter
05/03/25
@ EO
I wanted to contribute to Bitcoin because I know how to build and scale software companies and corral capital to address succinct problems.
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Konstantin Richter
05/03/25
@ EO
I saw a gap in the market for tools to run Ethereum nodes efficiently, which would enable institutions to engage with blockchain technology.
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Konstantin Richter
05/03/25
@ EO
The resilient part of being a founder is to continue working on a problem while others tell you it’s not worth solving, and I had to put everything I have into Blockdaemon without a clear promise of a better market environment, just to make it last as long as possible.
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Konstantin Richter
05/03/25
@ EO
I believed in a world where there would be 100,000 nodes run by institutions by 2020, even when people laughed at me.
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Konstantin Richter
05/03/25
@ EO
As an entrepreneur, your job is to find resources where others can't and keep your team motivated even when the situation looks bleak.
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Konstantin Richter
05/03/25
@ EO
During the second crypto winter, we had to make hard choices, including letting go of team members, to ensure operational efficiency.
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Konstantin Richter
05/03/25
@ EO
Crypto, when done correctly, is the antithesis to scamming; it's fully transparent and traceable, making it the most scam-resilient system at its core.
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Konstantin Richter
05/03/25
@ EO
Institutions began engaging with Blockdaemon only after they became part of our governance, which built their confidence in our operations.
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Konstantin Richter
05/03/25
@ EO
The landscape of crypto in the US is rapidly changing, with more enterprises launching services for their customers around cryptocurrency.
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Konstantin Richter
05/03/25
@ EO
In a complicated world, transparency and efficiency are essential for fair governance and are not just luxuries but requirements.
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Konstantin Richter
05/03/25
@ EO
We're witnessing a golden age for cryptocurrencies, transitioning from being the underdog to becoming a standard in the industry.