Bitcoin's Global Impact and Regulatory Challenges

In this seventh installment of the Why Bitcoin Now series, Meltem Demirors, the chief strategy officer at Coinshares, and Lyn Alden, the founder of Lyn Alden Investment Strategy, discuss the state of Bitcoin since June, amidst the presidential election – which takes place on the date of publication of the show -- and a global pandemic. Topics discussed include:

• the significance of bitcoin staying above $10k for over three months
• why the pandemic has created the conditions for which Bitcoin was designed
• how the markets may react to a Trump or Biden win
• why they believe, no matter which party wins, there will be massive deficits and a money-printing debt spiral
• why other countries see opportunities to erode the supremacy of the US dollar
• why Bitcoin has shown that it’s possible to have money without state
• how the current record unemployment and massive stimulus efforts during the pandemic have impacted Bitcoin
• the increasing interest in Bitcoin from traditional investors
• the IMF’s recent call for a “New Bretton Woods moment”  and how it may impact crypto
• China’s DCEP central bank digital currency and the effects it may have on increasing China’s trade leverage
• why the pandemic has made clear the importance of bringing more Bitcoin mining onshore
• whether or not Bitcoin will be able to remedy growing wealth inequality
• why privacy/encryption will be the main issue Bitcoiners need to watch from the coming administration

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Crypto.com: https://www.crypto.com

Episode links: 

Lyn Alden: https://twitter.com/LynAldenContact

Lyn Alden Investment Strategy: lynalden.com

Meltem Demirors: https://twitter.com/Melt_Dem

Coinshares: https://www.coinshares.com/

Lyn’s post on how the economy and stock market perform under Democratic vs. Republican presidents: https://www.lynalden.com/presidential-elections/

US stimulus spending: https://datalab.usaspending.gov/federal-covid-funding/#section-tracking

IMF New Bretton Woods speech: https://www.imf.org/en/News/Articles/2020/10/15/sp101520-a-new-bretton-woods-moment

Stocks in a bubble: https://www.longtermtrends.net/sp500-price-earnings-shiller-pe-ratio/

Meltem on the financialization of internet infrastructure: https://medium.com/coinshares/the-financialization-of-compute-connectivity-66beaffe7501

BitOoda report on Bitcoin mining: https://bitooda.medium.com/bitcoin-mining-hashrate-and-power-analysis-bitooda-research-ebc25f5650bf

Bloomberg wealth report: https://www.bloomberg.com/news/articles/2020-10-08/top-50-richest-people-in-the-us-are-worth-as-much-as-poorest-165-million

Cash app’s Bitcoin sales: https://www.theblockcrypto.com/linked/74001/square-q2-bitcoin-cash-app

JPMorgan research note on Bitcoin: https://fortune.com/2020/10/26/jp-morgan-chase-bitcoin-predictions-analyst-jpm-cryptocurrency/

https://twitter.com/DTAPCAP/status/1319703750450302980?s=20

Forbes interview with Daniel Masters of Coinshares: https://www.forbes.com/sites/michaeldelcastillo/2020/10/24/jp-morgan-veteran-daniel-masters-explains-how-blockchain-will-end-commercial-banks/#77ec4f6a6bdd

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