Equity How many lives does bitcoin have?
Jun 23, 2021
The hosts dive into the recent turbulence in cryptocurrency prices, particularly Bitcoin's dips. They discuss China's impact on the crypto ecosystem and the ongoing NFT craze. The conversation touches on the paradox of Coinbase's centralized leadership advocating for decentralization. Additionally, they explore the future of currency with Ethereum's shift to proof of stake and the potential of decentralized autonomous organizations (DAOs) in shaping the landscape of remote work and open-source projects.
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Taxi Driver's Ethereum Enthusiasm
- In 2017, a taxi driver excitedly told Danny about learning to use a terminal for Ethereum.
- This anecdote highlights the demand-driven nature of the 2017 crypto wave.
Supply-Driven Sell-Off
- This crypto sell-off seems supply-driven, mainly due to China's crackdown on crypto mining.
- China's regulations have taken about 80% of crypto mining capacity offline.
Good News for PC Gamers
- Reduced demand for GPUs is good news for PC gamers.
- Crypto companies were buying up GPU supply, but prices are now declining.