Bitcoin Is a Hedge Against the Federal Reserve Going Crazy

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The idea of Bitcoin being a hedge for inflation didn't necessarily end up being true so far anyway. Stanley Druckenmiller, who famously broke the Bank of England in the early 90s, said he never understood the value proposition of Bitcoin. The price of Bitcoin did not inflate in the way that you'd want as a hedge. If it goes to that place, we got a lot of bigger problems than just the minus black.

Trung & Bilal discuss Balaji's $1m Bitcoin bet, the banking crisis, Ryan Reynolds business empire, Trung’s meme going super viral and GPT-4.

Timestamps:

(00:00:00) - Intro
(00:04:11) - Meme of the Week
(00:08:50) - The Backstory to Trung’s Tweet
(00:11:31) - How a meme goes viral
(00:13:11) - Balaji's Background
(00:15:28) - Balaji's $1m Bitcoin Bet
(00:16:55) - Banking Crisis Explained
(00:21:57) - SVB Post-Mortem
(00:27:03) - Infinite Money Printing Back?
(00:32:36) - Swap Lines Explained
(00:36:32) - Trung's take on Balaji’s Argument
(00:41:28) - Bilal’s take on Balaji’s Argument
(00:47:54) - Doing it for the meme?
(00:50:28) - Hyperbitcoinization?
(00:53:29) - Ryan Reynolds Business Empire
(00:55:30) - Van Wilder
(00:57:06) - Deadpool and Aviation Gin
(00:59:39) - Fastvertising
(01:01:08) - Mint Mobile and MVNO Businesses
(01:04:38) - Wrexham F.C.
(01:07:26) - Bearly A.I. Plug
(01:08:00) - GPT-3 vs GPT-4
(01:09:17 ) - Microsoft Copilot

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Every week, Jack Butcher, Bilal Zaidi & Trung Phan discuss what they're finding on the edges of the internet + the latest in business, technology and memes.

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