SLP281 Cory Klippsten - Bitcoin Is For Everyone, Swan Bitcoin $1B run rate, Bitcoiner Ventures, Elon’s mistakes
Jun 2, 2021
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Cory Klippsten, CEO of Swan Bitcoin, discusses various topics including teaching newcoiners, growing the auto-stacking movement, Bitcoin Ventures, and Elon Musk's mistakes.
Auto stacking and dollar cost averaging are crucial in Bitcoin investing to accumulate steadily and take advantage of bear market opportunities.
Bitcoin education and adoption efforts aim to counter exclusivity narratives and showcase the global adoption of the cryptocurrency.
Thorough research, humility, and avoiding pontificating on topics one doesn't fully understand are crucial, as demonstrated by the criticism towards Elon Musk and Nassim Taleb.
Deep dives
The Importance of Auto Stacking and Dollar Cost Averaging
One of the main points discussed in the podcast is the significance of auto stacking and dollar cost averaging in Bitcoin investing. The speaker emphasizes that it is crucial to have an automatic recurring purchase plan during both bull and bear markets. This approach allows individuals to accumulate Bitcoin steadily and take advantage of bear market opportunities. Auto stacking is described as a bear market product that is designed to match fiat inflows and facilitate regular Bitcoin purchases. The strategy of starting with a lump sum investment and then setting up automatic recurring purchases is recommended for new coiners to minimize their regret and uncertainty.
Bitcoin Education and the Mission to Drive Adoption
The podcast highlights the importance of Bitcoin education and the mission to drive adoption. The guests emphasize that Bitcoin is for everyone and aim to counter narratives that portray Bitcoin as being exclusive to specific groups. To promote this idea, the podcast guests discuss an ongoing effort to record videos featuring a diverse range of people, including celebrities, athletes, grandmas, and Bitcoin enthusiasts from around the world. The objective is to highlight the human face of Bitcoin and showcase the global adoption of the cryptocurrency. Bitcoin companies, such as Swan Bitcoin, are also mentioned as playing a role in spreading awareness and education about Bitcoin.
Criticism of Elon Musk and Nassim Taleb's Views on Bitcoin
The podcast addresses the criticism towards Elon Musk and Nassim Taleb regarding their views on Bitcoin. The speaker expresses disappointment in Elon Musk's tweets and actions, specifically referring to his erroneous claims about Bitcoin's energy consumption and his decision to halt Tesla's acceptance of Bitcoin as payment. The podcast also mentions the criticism aimed at Nassim Taleb for his changing opinions on Bitcoin and his recent participation in a Bitcoin SV conference. The importance of conducting thorough research, being humble, and avoiding pontificating on topics one doesn't fully understand is emphasized in light of these examples.
Bitcoin-Related Companies Poised for Success in the Next Bull Run
The next Bitcoin bull run, predicted to occur around 2024, is expected to bring forth the rise of companies focusing on payments and culturally related products. Bitcoin is seen as a cultural movement that will surpass the popularity of previous trends like crossfit, paleo, quantified self, and carnivore diets. The potential for Bitcoin-related products and services is already evident with the growing demand for Bitcoin personal trainers and the success of platforms like Bitcoinerjobs.co. As the Bitcoin ecosystem continues to expand, more companies are expected to emerge and thrive, attracting top talent and significant investment.
Bitcoin-Only Startups and the Importance of Bitcoin Ventures
Bitcoin-only startups, comparable to top Silicon Valley-backed companies, are gaining traction and raising larger funding rounds. Bitcoin Ventures, an angelist syndicate, aims to support Bitcoin-only startups in the consumer-facing space. The syndicate invests in companies with well-known founders and popular products or services. Though Bitcoin entrepreneurship still requires navigating challenges, including the availability of Bitcoin-only jobs, more individuals are willing to take a pay cut for the opportunity to work in the Bitcoin industry. Bitcoin Ventures provides a platform for investors to contribute to Bitcoin-only startups, with check sizes typically ranging from $1,000 to $50,000 per investment. The syndicate's goal is to expand into a committed capital fund while keeping the syndicate alive.