This Week in Startups China moves crypto mining to US + Overtime’s Dan Porter on GenZ basketball league & network | E1235
Jun 22, 2021
Dan Porter, CEO of Overtime, is on a mission to revolutionize youth sports. He discusses Overtime Elite, a groundbreaking basketball league allowing 16-18-year-olds to earn up to $500K, redefining pathways to professional sports. Porter highlights the league's focus on competition, support, and education for aspiring athletes. He also dives into the influence of digital media and how platforms like YouTube and Twitch expand the reach of sports to Gen Z. Meanwhile, he touches on the recent migration of cryptocurrency mining from China to the U.S. and its implications for digital currencies.
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Crypto Crash Factors
- The recent crypto dip and Bitcoin crash were predictable due to several factors.
- These include people returning to normal life after the pandemic, the end of stimulus checks, and less time spent obsessing over crypto.
Bitcoin Regulation
- China's crackdown on Bitcoin mining is achievable through law enforcement and taxation.
- This disproves the naive belief that Bitcoin is entirely resistant to government control.
China's Bitcoin Strategy
- China's crackdown on Bitcoin mining might be related to their plan to launch a digital currency.
- They may also aim to destabilize the US by strengthening US miners and devaluing the USD.