We Study Billionaires - The Investor’s Podcast Network BTC068: Bitcoin Exchange & Mining Policy Incentives w/ Magdalena Gronowska (Bitcoin Podcast)
Mar 9, 2022
Magdalena Gronowska, an expert in Bitcoin and former Supreme Court bankruptcy inspector, dives into her unique journey in the cryptocurrency world. She shares insights on the dramatic QuadrigaCX exchange collapse and its lessons on financial sovereignty. Magdalena discusses how Canadian events have shifted perspectives on self-sovereignty and highlights her involvement with the 1st regulated Bitcoin fund in North America. Additionally, she examines economic incentives for policymakers and reflects on innovative approaches to Bitcoin mining.
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Bitcoin Beginnings
- Magdalena Gronowska's Bitcoin journey started with the "number go up" phenomenon in 2017.
- She experienced losses in Quadriga and ICOs, highlighting the risks of early Bitcoin investing.
Quadriga Collapse
- As a court-appointed inspector, Gronowska oversaw the Quadriga exchange collapse, a $215 million loss affecting 76,000 victims.
- The CEO's fraudulent activities, including fake trading and embezzlement, led to the exchange's downfall.
Exchange Risk
- Keep only what you're comfortable losing on exchanges to minimize risk.
- Diversify across reputable exchanges if you're an active trader.