CD133: BITWISE BITCOIN ETF WITH HONG KIM - COFOUNDER AND CTO
May 15, 2024
auto_awesome
Guest Hong Kim, Co-founder and CTO of Bitwise Investments, discusses the challenges and timeline of working on a Bitcoin ETF. They reflect on the community impact, funding open source contributors, and the success of the debut. The conversation explores competitive strategies, commitment to success, supporting open-source projects, and navigating custody challenges in the ETF market.
Bitwise Bitcoin ETF provides a new paradigm for open-source support in the crypto space.
Transparency and accountability in the Bitwise ETF model set a standard for the industry.
Bitcoin's uniqueness compared to traditional assets like gold is highlighted for investors.
ETFs can broaden Bitcoin ownership, fostering public awareness and institutional adoption.
E-cash offers revolutionary privacy features, allowing selective information disclosure for user empowerment.
Deep dives
Bitcoin ETF as an Investment Vehicle
Bitcoin ETFs are discussed as an investment opportunity, contrasting Bitcoin to traditional assets like gold. The podcast highlights the importance of understanding Bitcoin's unique qualities. Bitwise ETF is recommended as an entry point for new investors interested in exposure to Bitcoin.
Supporting Open Source Contributions
Bitwise's commitment to donate 10% of profits to open source contributors is praised as a significant contribution to the Bitcoin community. This transparent and long-term commitment is seen as a model for other ETF providers to follow, emphasizing the importance of giving back to the ecosystem.
Transparency in Proof of Reserves
Bitwise's initiative in making their addresses public and providing proof of reserves is lauded as a demonstration of accountability and trustworthiness in the Bitcoin space. The podcast discusses how this transparency sets Bitwise apart and emphasizes the benefits of public auditability in the digital asset realm.
Differentiating Bitcoin from Gold
The discussion touches on the distinction between Bitcoin and gold, highlighting Bitcoin's superior features such as public auditability. The podcast challenges the misconception of treating Bitcoin like gold and underscores the importance of understanding and showcasing Bitcoin's unique advantages.
Future Prospects and Impact of the Bitcoin ETF
The podcast delves into the future potential of Bitcoin ETFs in terms of institutional adoption and individual investment access. It underscores the transformative impact that ETFs can have in opening up Bitcoin ownership to a broader audience and the significance of ongoing efforts to promote public awareness and adoption.
E-cash Advantages in Privacy and Customization
E-cash, a digitally native asset like Bitcoin, offers a revolutionary platform for private and customizable financial transactions, catering to varying user preferences in disclosure and privacy. In contrast to past systems like public digital channels, E-cash provides a ground-breaking solution with cryptographic privacy assurances. This critical tool empowers users to selectively reveal specific information, leading to a necessary evolution in the digital privacy discourse.
The Importance of User Options and Financial Privacy
Hong emphasizes the significance of offering a diverse range of options to users, enabling them to choose how they interact with the world. By presenting multiple alternatives, such as E-cash for varying sat thresholds, individuals can opt for suitable levels of privacy and disclosure. The progression towards a world of diverse options brings flexibility and empowers users to make choices that align with their preferences, enhancing financial privacy and customization.
Encouraging Financial Privacy Advocacy and Progress
Hong underscores the urgency of advocating for financial privacy advancements and user-controlled money principles. There is a shared commitment to caring for the entire digital stack, including software, mining, communication channels like Noster, and privacy-focused custodial services like E-cash. The collaborative effort aims to drive progress before encountering heightened resistance, realizing the vision of comprehensive financial privacy and user empowerment.
Closing Remarks on Future Collaboration and Progress
Hong expresses excitement for future collaborations and ongoing progress initiatives. The commitment to regularly update on ETF developments every six months highlights a dedicated approach to advancing financial privacy and user empowerment. The shared ethos of staying humble and stacking sats resonates as a unifying theme, fostering a community-driven effort towards continual growth and advancement.
support dispatch: https://citadeldispatch.com/donate EPISODE: 133 BLOCK: 843588 PRICE: 1540 sats per dollar TOPICS: exchange traded funds changed the paradigm, supporting open source, embracing transparency
