EP. 22: Meet the Mallers: Early Bitcoin Days and Strike's Origins
May 20, 2024
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Jack Mallers, Dylan Lieteau, Bill Mallers Jr., and Brooke Mallers reminisce about early Bitcoin days. Topics include rejection from Bitcoin companies, Strike's origins, market trends, Bitcoin's reaction to Public's Bank of China news, family dynamics, banking restrictions in the cannabis industry, peer-to-peer gambling innovation, Bitcoin's impact on financial markets, and exploring de-dollarization.
Bitcoin symbolizes generational wealth transfer and financial immortality.
De-Dollarization post-2008 crisis threatens US bond market stability.
Bitcoin's market reaction to China's QE highlights its role as a hedge against monetary debasement.
Deep dives
Significance of Bitcoin as a Store of Value
Bitcoin serves as a representation of the time and energy invested in generating wealth, providing a way to store and pass on the value of one's life's work to future generations, creating the closest semblance of living forever through a financial instrument.
Impact of De-Dollarization on the US Bond Market
De-Dollarization has likely begun post the 2008 financial crisis, reflecting a loss of trust in the US dollar. Its effects on the US bond market may gradually erode its stability, leading to increased sovereign debt monetization.
Bitcoin's Role in Monetary Debasement
Bitcoin's market reaction to China's QE intended to rescue the commercial real estate sector demonstrates its position as a hedge against monetary debasement. Slow de-dollarization has likely commenced, shifting focus towards preserving wealth in alternative stores of value.
Impact of Bitcoin on US Treasury Market Stability
While Bitcoin's increasing market cap may pose long-term challenges to the US bond market, a sudden collapse is unlikely. Any upheaval would potentially prompt sovereign debt monetization rather than an outright collapse.
Gradual De-Dollarization as a Slow Process
De-Dollarization began post the 2008 financial crisis and is an ongoing gradual process rather than an instant collapse event. It slowly challenges the USD's dominance as the global reserve currency.
Influence of Recent Monetary Policies on Bitcoin's Value
The market's response to China's monetary policies indicates Bitcoin's role as a hedge against currency devaluation, fueling speculation about its potential growth trajectory and the ongoing evolution of global monetary systems.
This week, Jack Mallers, Dylan Lieteau, and Bill Mallers Jr. share a look into the Mallers' history as Brooke Mallers, also known as @Bitcoinmom, joins the discussion. The hosts reminisce about the early days of their Bitcoin journey, including Jack's numerous rejections from Bitcoin companies and his initial ideas for Strike. Furthermore, Bill breaks down the latest market trends, while Jack shares insights on Bitcoin’s reaction to the Public’s Bank of China news.
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