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14 episodes with chris burniske
6 episodes with chris burniske
3 episodes with chris burniske
3 episodes with chris burniske
2 episodes with chris burniske
2 episodes with chris burniske
3 episodes with chris burniske
2 episodes with chris burniske
3 episodes with chris burniske
In this episode, Chris Burniske and Ryan Watkins join us to explore the evolving relationship between applications and infrastructure in crypto's value accrual balance. They dissect the current state of infrastructure premiums, examine how ETFs are reshaping market dynamics, and discuss the emerging opportunities in DeFi and AI integration. Thanks for tuning in! - - Follow Chris: https://x.com/cburniske?lang=en Follow Ryan: https://x.com/ryanwatkins_ Follow Nick: https://x.com/nickwh8te Follow Mike: https://x.com/MikeIppolito_ Follow Expansion: https://x.com/ExpansionPod_ Subscribe on YouTube: https://www.youtube.com/@expansionpod Subscribe on Apple: http://apple.co/4bGKYYM Subscribe on Spotify: http://spoti.fi/3Vaubq1 Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- The Aggregation Summit, organized by Polygon Labs, is happening in Bangkok, Thailand, November 10-11, 2024 Learn more and get your early bird tickets now at https://www.agglayer.dev -- Timestamps: (00:00) - Introduction (02:27) - Applications vs Blockchains (28:47) - Value Accrual End Game (43:32) - Aggregation Summit Ad (44:16) - Impact of ETFs (1:03:16) - Crypto's AI Intersection - - Disclaimer Expansion was kickstarted by a grant from the Celestia Foundation. Nothing said on Expansion is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Rex, Jon, and our guests may hold positions in the companies, funds, or projects discussed.
In this episode, Austin chats with Chris Burniske and Joel Monegro from Placeholder, a cryptocurrency venture capital firm. They delve into the firm's unique approach to investments, combining venture capital structures with public market practices. The conversation covers the formation of Placeholder, their investment strategies focusing on long-term holds, and how they developed conviction in Solana. Chris and Joel discuss the importance of managing valuations, the role of market cycles, and the importance of decentralized exchanges (DEXs) in crypto market structures. They also offer advice for entrepreneurs on fundraising and selecting the right investors. DISCLAIMERThe content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor. Solana Foundation Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers' own personal opinions and do not reflect the opinions of any entities.
The crypto market is reeling from a massive selloff, with the total market cap plunging below $2 trillion and over $500 billion evaporating since Friday. Bitcoin has crashed to under $50,000, its lowest point since mid-February, while altcoins face even steeper declines. Amidst this turmoil, Robinhood halts 24-hour trading, Chris Burniske maintains an optimistic $1,000 price target for Solana, and speculation swirls around Ripple's new stablecoin and its potential impact on the SEC lawsuit. Meanwhile, the Miladycraft Minecraft server continues to blend gaming with social commentary, and Elon Musk's cryptic message ignites fresh speculation in the crypto community. HOW CAN SUPPORT? SUBSCRIBE: RARE BITS PODCAST WATCH: RAREBITS LIVE YOUTUBE READ: RARE BITS SUBSTACK Follow on X: BEATBROKER RARE BITS LIVE GET SOME MERCH RARE BITS GEAR:RARE BITS MERCH
Today on the Ether we have Saga hosting a discussion on the integrated modular stack. You'll hear from Micah Kulish, Nick White, Chris Burniske, Jin Kwon, and more! Recorded on February 27th 2024. Make sure to check out the newest tracks from Finn and the RAC FM gang over at ImaginetheSmell.org! The majority of the music at the end of these spaces can be found streaming over on Spotify, and the rest of the streaming platforms. Thank you to everyone in the community who supports TerraSpaces.
In this episode of Bankless Takes, Ryan and David discuss the incredibly valuable investing wisdom from Chris Burniske, restaking summer…what's the impact to ETH, and Vitalik's end of my childhood post. ------
Chris Burniske and two proponents of each approach discuss their different characteristics and relative benefits, and what will drive the next crypto bull cycle.Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.In this episode of Unchained, Anatoly Yakovenko, co-founder of Solana Labs, Nick White, COO at Celestia, and Chris Burniske, partner at VC firm Placeholder discuss the differences between modular and monolithic, or integrated, blockchains, with Solana epitomizing the monolithic approach and Celestia the modular one. They all agree that both approaches have their merits and will likely coexist, but argue each lends itself to specific use cases and developer preferences. They also discuss what will drive the next crypto bull cycle, and each gives their best predictions for a specific development in the crypto industry in the next few years.Show highlights | Chris's explanation of the modular vs. monolithic approach in blockchainsWhat drove Anatoly to prioritize speed in Solana's architecture and its impact on the networkWhat Celestia is and how it represents the first modular blockchain networkWhether developers and users will gravitate more towards modular or monolithic blockchainsHow Solana, as one of the fastest blockchains, is gearing up to handle massive usage and scalabilityWhy Chris views Celestia as a frontrunner in the data availability sectorHow Nick perceives the philosophical similarities and executional differences between Celestia and SolanaWhether there's potential for Solana to transition into a modular blockchain in the futureWhy Chris believes that the Solana Virtual Machine (SVM) might surpass the Ethereum Virtual Machine (EVM) in user adoptionWhat challenges Bitcoin faces in developing actual Layer 2 solutions, especially considering its "doomers storage" issueWhat could drive the next crypto bull marketTop predictions for 2024 and beyond Anatoly's perspective on how a significant hack could pose a serious setback for the entire industryThank you to our sponsors! Arbitrum Foundation | Popcorn Network | iTrustCapitalGuests | Anatoly Yakovenko, cofounder of Solana LabsChris Burniske, partner at PlaceholderNick White, COO at Celestia LabsLinks | Modular vs. monolithicAlchemy: Modular vs. Monolithic BlockchainsVisa: Monolithic vs. modular blockchainChris Burniske's tweet on modular vs monolithic“The horrific inefficiencies of monolithic blockchains” by polynyaBlockworks: A spicy salvo launched in the monolithic vs modular debateUnchained: What Is the Blockchain Trilemma?CelestiaCelestia's explanation of modular blockchainsData availabilityData availability samplingAn introduction to sovereign rollupsSpot Bitcoin ETF:Unchained: Why The Spot Bitcoin ETF Is a Big DealDeciding on Bitcoin: Should New Investors Jump In Now or Wait for an ETF?Ledger ConnectKit incidentUnchained: Ledger Library Compromised, Causing Confusion and Panic in Crypto CommunityUnchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
In this episode of Unchained, Anatoly Yakovenko, co-founder of Solana Labs, Nick White, COO at Celestia, and Chris Burniske, partner at VC firm Placeholder discuss the differences between modular and monolithic, or integrated, blockchains, with Solana epitomizing the monolithic approach and Celestia the modular one. They all agree that both approaches have their merits and will likely coexist, but argue each lends itself to specific use cases and developer preferences.They also discuss what will drive the next crypto bull cycle, and each gives their best predictions for a specific development in the crypto industry in the next few years. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: Chris's explanation of the modular vs. monolithic approach in blockchains What drove Anatoly to prioritize speed in Solana's architecture and its impact on the network What Celestia is and how it represents the first modular blockchain network Whether developers and users will gravitate more towards modular or monolithic blockchains How Solana, as one of the fastest blockchains, is gearing up to handle massive usage and scalability Why Chris views Celestia as a frontrunner in the data availability sector How Nick perceives the philosophical similarities and executional differences between Celestia and Solana Whether there's potential for Solana to transition into a modular blockchain in the future Why Chris believes that the Solana Virtual Machine (SVM) might surpass the Ethereum Virtual Machine (EVM) in user adoption What challenges Bitcoin faces in developing actual Layer 2 solutions, especially considering its "doomers storage" issue What could drive the next crypto bull market Top predictions for 2024 and beyond Anatoly's perspective on how a significant hack could pose a serious setback for the entire industry Thank you to our sponsors! Arbitrum Foundation Popcorn Network iTrustCapital Guests: Anatoly Yakovenko, cofounder of Solana Labs Previous appearances on Unchained: Anatoly Yakovenko on Solana's Astounding Recovery and Its Future Plans Will Solana Be the Execution Layer and Ethereum the Settlement Layer? Can Solana Seize Marketshare From Ethereum With Serum? Anatoly Yakovenko on Why Solana Is Building the SAGA Chris Burniske, partner at Placeholder Previous appearances on Unchained: Two VCs on Why This Is the Perfect Time to Invest in Crypto 2022 in Review + How Cobie and Chris Burniske Are Playing the New Year Cobie and Chris Burniske on How to Navigate a Crypto Bear Market How To Value A Crypto Asset Nick White, COO at Celestia Labs Links Modular vs. monolithic Alchemy: Modular vs. Monolithic Blockchains Visa: Monolithic vs. modular blockchain Chris Burniske's tweet on modular vs monolithic “The horrific inefficiencies of monolithic blockchains” by polynya Blockworks: A spicy salvo launched in the monolithic vs modular debate Unchained: What Is the Blockchain Trilemma? Celestia Celestia's explanation of modular blockchains Data availability Data availability sampling An introduction to sovereign rollups Spot Bitcoin ETF: Unchained: Why The Spot Bitcoin ETF Is a Big Deal Deciding on Bitcoin: Should New Investors Jump In Now or Wait for an ETF? Ledger ConnectKit incident Unchained: Ledger Library Compromised, Causing Confusion and Panic in Crypto Community Learn more about your ad choices. Visit megaphone.fm/adchoices
In this episode of Unchained, Anatoly Yakovenko, co-founder of Solana Labs, Nick White, COO at Celestia, and Chris Burniske, partner at VC firm Placeholder discuss the differences between modular and monolithic, or integrated, blockchains, with Solana epitomizing the monolithic approach and Celestia the modular one. They all agree that both approaches have their merits and will likely coexist, but argue each lends itself to specific use cases and developer preferences.They also discuss what will drive the next crypto bull cycle, and each gives their best predictions for a specific development in the crypto industry in the next few years. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: Chris's explanation of the modular vs. monolithic approach in blockchains What drove Anatoly to prioritize speed in Solana's architecture and its impact on the network What Celestia is and how it represents the first modular blockchain network Whether developers and users will gravitate more towards modular or monolithic blockchains How Solana, as one of the fastest blockchains, is gearing up to handle massive usage and scalability Why Chris views Celestia as a frontrunner in the data availability sector How Nick perceives the philosophical similarities and executional differences between Celestia and Solana Whether there's potential for Solana to transition into a modular blockchain in the future Why Chris believes that the Solana Virtual Machine (SVM) might surpass the Ethereum Virtual Machine (EVM) in user adoption What challenges Bitcoin faces in developing actual Layer 2 solutions, especially considering its "doomers storage" issue What could drive the next crypto bull market Top predictions for 2024 and beyond Anatoly's perspective on how a significant hack could pose a serious setback for the entire industry Thank you to our sponsors! Arbitrum Foundation Popcorn Network iTrustCapital Guests: Anatoly Yakovenko, cofounder of Solana Labs Previous appearances on Unchained: Anatoly Yakovenko on Solana's Astounding Recovery and Its Future Plans Will Solana Be the Execution Layer and Ethereum the Settlement Layer? Can Solana Seize Marketshare From Ethereum With Serum? Anatoly Yakovenko on Why Solana Is Building the SAGA Chris Burniske, partner at Placeholder Previous appearances on Unchained: Two VCs on Why This Is the Perfect Time to Invest in Crypto 2022 in Review + How Cobie and Chris Burniske Are Playing the New Year Cobie and Chris Burniske on How to Navigate a Crypto Bear Market How To Value A Crypto Asset Nick White, COO at Celestia Labs Links Modular vs. monolithic Alchemy: Modular vs. Monolithic Blockchains Visa: Monolithic vs. modular blockchain Chris Burniske's tweet on modular vs monolithic “The horrific inefficiencies of monolithic blockchains” by polynya Blockworks: A spicy salvo launched in the monolithic vs modular debate Unchained: What Is the Blockchain Trilemma? Celestia Celestia's explanation of modular blockchains Data availability Data availability sampling An introduction to sovereign rollups Spot Bitcoin ETF: Unchained: Why The Spot Bitcoin ETF Is a Big Deal Deciding on Bitcoin: Should New Investors Jump In Now or Wait for an ETF? Ledger ConnectKit incident Unchained: Ledger Library Compromised, Causing Confusion and Panic in Crypto Community Learn more about your ad choices. Visit megaphone.fm/adchoices
In a brand new format, we discuss everything about Solana. From David's experience at the Solana Breakpoint conference, Solana vs Ethereum, and a mildly heated exchange with Chris Burniske, we try to wrap our heads around the big question: What does SOL look like in the upcoming Bull Market? How should we feel about it?
How do experienced crypto investors analyze and adapt their strategies over time? Get insights from Chris Burniske, partner at Placeholder VC, on the firm's journey investing in crypto networks. From Bitcoin's early days to Ethereum's rise and now Solana, Chris explains their evolving philosophy. He shares thoughtful perspectives on building founder relationships, managing liquidity, evaluating growth vs. value, and more. For investors interested in understanding crypto networks, this episode provides an insider's view on crypto venture investing. Join the conversation! Show Notes Placeholder Socials Chris's Twitter Tommy's Twitter Follow Delphi Digital Website: https://members.delphidigital.io/home Twitter: https://twitter.com/Delphi_Digital Youtube: https://www.youtube.com/@Delphi_Digital Disclosures Disclosures: This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token. Delphi's transparency page can be viewed here. Keywords Venture Capital, Crypto Investing, Bitcoin, Ethereum, Solana, Liquidity Events, Founder Relationships, Network Effects, Growth Strategy, Placeholder, Value Strategy, Blockchain, Crypto exchange, Digital assets, Decentralization, Crypto regulation, Crypto investing, Web3, Metaverse, NFTs, DeFi, Cryptocurrency adoption, Future of money, Financial freedom
Joel Monegro, co-founder of Placeholder, joins us to discuss Solana's compounding advantage. Joel is a crypto OG, a prolific writer (wrote The Fat Protocol Thesis in 2016) and co-founded Placeholder with Chris Burniske. In this episode, we cover Joel's Solana thesis, upcoming infrastructure consolidation, app-specific L2 use cases, Joel's updated thoughts on The Fat Protocol Thesis, finding your investment edge and more! - - Join us at DAS (Digital Asset Summit) in London this March! DAS is the #1 institutional conference in crypto, hosted by Blockworks. Use the link below to learn more, and use LIGHTSPEED20 to get 20% off your ticket! Sign up now because the price goes up every month. See you there! Learn more + get your ticket here: https://blockworks.co/event/digital-asset-summit-2024-london/home - - Timestamps (00:00) Introduction (01:20) Ethereum vs Solana: Two Design Approaches (09:45) Solana Pre and Post FTX (15:30) A Consolidation of Infrastructure (23:24) DAS London Plug (24:33) The Fat Protocol Thesis (39:01) Investment Philosophies & Application-Specific L2s (45:07) Joel's Path to Venture Capital (53:24) How to Improve Your Writing (59:57) Finding Your Investment Edge (01:04:42) Rapid Fire - - Follow Joel: https://twitter.com/jmonegro Follow Mert: https://twitter.com/0xMert_ Follow Garrett: https://twitter.com/GarrettHarper_ Follow Lightspeed: https://twitter.com/Lightspeedpodhq Subscribe on YouTube: https://bit.ly/43o3Syk Subscribe on Apple: https://apple.co/3OhiXgV Subscribe on Spotify: https://spoti.fi/3OkF7PD Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - Resources Placeholder https://www.placeholder.vc/ Ethereum and Solana by Joel https://www.placeholder.vc/blog/2023/10/10/ethereum-and-solana The Fat Protocol Thesis by Joel https://www.usv.com/writing/2016/08/fat-protocols/ Joel's Website https://monegro.org/work/2018/2/1/fat-protocols Carlota Perez https://www.amazon.com/Technological-Revolutions-Financial-Capital-Dynamics/dp/1843763311 - - Disclaimers: Lightspeed was kickstarted by a grant from the Solana Foundation. Nothing said on Lightspeed is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mert, Garrett and our guests may hold positions in the companies, funds, or projects discussed.
Despite the doom and gloom, Placeholder VC partners Chris Burniske and Joel Monegro are highly bullish on the present moment. “We're all going to look back on this period and remember it as fondly as we remember ‘18 and ‘19,” Monegro tells Laura Shin. The two long-term investors explain why the confluence of macroeconomic factors and crypto-native (and AI) innovations make this the ideal time to invest in a Web3 future. They cut their teeth on Bitcoin, they grew up with Ethereum; hear what they think is next. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: why Chris says crypto's four-year cycle will likely play out once again the role of interest rates in asset valuation whether the crypto industry has learned its lessons from the “crypto carnage” of 2022 whether there's a future for KYC'd DeFi when failing in crypto should be considered a crime, as in the Do Kwon case what could happen with the rate hikes and how the macroeconomic environment affects the markets how the ruling in the Ripple case impacts the development of new crypto companies and user adoption whether Joel felt relieved by the ruling, considering Placeholder has invested in many tokens that were named as securities by the SEC what Joel thinks of the new crypto bill in Congress and how he wishes that smart contracts were used to self-regulate the industry what Joel and Chris think of the delicate situations of crypto giants such as Binance and DCG whether the fat protocol thesis still holds up and whether it colors Placeholder's current investment thesis why most of the Layer 1s will become rollups, according to Chris why Chris is bullish on Solana, despite the massive collapse in value following the FTX debacle how NFTs will play a significant role in “establishing the provenance of content” whether AI agents will become crypto power users Thank you to our sponsors! Crypto.com Arbitrum Foundation TOKEN2049 Guests: Chris Burniske, partner at Placeholder VC Previous appearance on Unchained: 2022 in Review + How Cobie and Chris Burniske Are Playing the New Year Cobie and Chris Burniske on How to Navigate a Crypto Bear Market How To Value A Crypto Asset Joel Monegro, partner at Placeholder VC. Placeholder's Joel Monegro on the Fat Protocols Thesis Links Fat Protocols by Joel Monegro The Blockchain Application Stack by Joel Monegro Decred Thesis by Joel Monegro and Chris Burniske WSJ: Binance Lays Off Over 1,000 Employees Binance Cuts Back Employee Benefits, Citing Decline in Profit CoinDesk: Unpacking the Latest Lummis-Gillibrand Bill Draft Reuters: US SEC accepts six spot bitcoin ETF proposals for review Learn more about your ad choices. Visit megaphone.fm/adchoices
Despite the doom and gloom, Placeholder VC partners Chris Burniske and Joel Monegro are highly bullish on the present moment. “We're all going to look back on this period and remember it as fondly as we remember ‘18 and ‘19,” Monegro tells Laura Shin. The two long-term investors explain why the confluence of macroeconomic factors and crypto-native (and AI) innovations make this the ideal time to invest in a Web3 future. They cut their teeth on Bitcoin, they grew up with Ethereum; hear what they think is next. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: why Chris says crypto's four-year cycle will likely play out once again the role of interest rates in asset valuation whether the crypto industry has learned its lessons from the “crypto carnage” of 2022 whether there's a future for KYC'd DeFi when failing in crypto should be considered a crime, as in the Do Kwon case what could happen with the rate hikes and how the macroeconomic environment affects the markets how the ruling in the Ripple case impacts the development of new crypto companies and user adoption whether Joel felt relieved by the ruling, considering Placeholder has invested in many tokens that were named as securities by the SEC what Joel thinks of the new crypto bill in Congress and how he wishes that smart contracts were used to self-regulate the industry what Joel and Chris think of the delicate situations of crypto giants such as Binance and DCG whether the fat protocol thesis still holds up and whether it colors Placeholder's current investment thesis why most of the Layer 1s will become rollups, according to Chris why Chris is bullish on Solana, despite the massive collapse in value following the FTX debacle how NFTs will play a significant role in “establishing the provenance of content” whether AI agents will become crypto power users Thank you to our sponsors! Crypto.com Arbitrum Foundation TOKEN2049 Guests: Chris Burniske, partner at Placeholder VC Previous appearance on Unchained: 2022 in Review + How Cobie and Chris Burniske Are Playing the New Year Cobie and Chris Burniske on How to Navigate a Crypto Bear Market How To Value A Crypto Asset Joel Monegro, partner at Placeholder VC. Placeholder's Joel Monegro on the Fat Protocols Thesis Links Fat Protocols by Joel Monegro The Blockchain Application Stack by Joel Monegro Decred Thesis by Joel Monegro and Chris Burniske WSJ: Binance Lays Off Over 1,000 Employees Binance Cuts Back Employee Benefits, Citing Decline in Profit CoinDesk: Unpacking the Latest Lummis-Gillibrand Bill Draft Reuters: US SEC accepts six spot bitcoin ETF proposals for review Learn more about your ad choices. Visit megaphone.fm/adchoices
We are pleased to bring you the second edition of the ARK Crypto Brainstorm; a quarterly conversation between a rotating group of experts in the crypto space, The ARK Crypto Brainstorm is published through the For Your Innovation podcast channels and aims to be an informative and in-depth conversation on the current state of the ever-changing crypto landscape with experts offering diverse viewpoints. In the second edition of the ARK Crypto Brainstorm, ARK Crypto Lead Yassine Elmandjra and ARK CEO and CIO Cathie Wood hosted 7 leaders in the crypto space including: Lyn Alden, macroeconomic investor with expertise in Bitcoin, is leading the conversation on the regional banking crisis and the Fed's decision-making amidst continued macro uncertainty. Jeremy Allaire, CEO of Circle, the largest regulated stablecoin issuer, has successfully navigated the banking crisis while demonstrating a commitment to openness and transparency. Paul Grewal, Chief Legal Officer at Coinbase, is at the forefront of advocating for greater regulatory clarity in the US and emphasizes the importance of creating an environment for crypto to flourish. Caitlin Long, CEO and Founder of Custodia, is dedicated to building a regulatory compliant bridge between the traditional US financial system and cryptoassets. Angie Dalton, CEO of Signum Capital, has built a strong relationship with US regulators, working with startups and protocols to outline a regulatory compliant path for operating in the US. Chris Burniske, a partner at Placeholder Ventures, has highlighted the resilience of crypto fundamentals and why this is a compelling time to be an investor despite the uncertainty. Michael Sonnenshein, CEO of Grayscale, is trailblazing the path to a US Bitcoin ETF approval, questioning some of the assumptions made by the SEC in its decision-making. Key Points From This Episode: 04:47 Paul and Cathie discuss the current state of the regulatory landscape surrounding cryptocurrencies 09:48 Lyn Alden provides a historical perspective on regulation 18:57 What Jeremy is hearing from his recent trips to Washington DC on crypto regulation 22:22 The potential for a Bitcoin ETF, and Grayscale's relationship with the SEC 27:41 How the FTX collapse may have set the industry back in the eyes of the US government 34:38 Michael Sonenshein's optimistic point of view on regulators idea of crypto 40:06 Caitlin's view that regulators are unwilling to make progress in passing significant regulation in the next few years 49:36 Chris compares digital assets to water 50:13 Cathie and Yassine transition the conversation to the Regional Banking Crisis 58:35 Caitlin highlights the inherent illiquidity many banks currently have and what problems that might cause 1:04:56 Lyn offers her end game scenario if the Fed continues to be hawkish 1:13:22 Chris highlights the clear differences between the banking system and cryptocurrencies like Bitcoin and Ethereum 1:20:42 Coinbase's latest product launches including Wallet and Base 1:24:20 How Bitcoin has responded to the recent regional bank crises 1:27:33 We go around the horn and ask: What would our guests like to see happen this year?
✨ DEBRIEF | Unpacking the episode: https://shows.banklesshq.com/p/debrief-chris-burniske ------ ✨ COLLECTIBLES | Collect this episode: https://collectibles.bankless.com/mint ------ Chris Burniske is Co-Founder of Placeholder VC, author of “Crypto-Assets,” and mentor to both David and Ryan. This is Chris's third appearance on Bankless. He was first on three years ago for episode #20! Investing in waves. Are we talking about surfing? Are we talking about capital deployment? The answer is yes. In today's episode, Chris unpacks why he uses the term “trashy” to describe many 2022 projects (and their founders), why crypto is like surfing and how you catch a good wave, his rules for staying sober during bull and bear markets (hint: don't fall in love with your coconuts), and finally his bull case for Solana. ------
This episode of Unchained looks back on a tumultuous year for the cryptocurrency industry in 2022. Significant events such as the bankruptcies of FTX, Three Arrows Capital, Celsius, Voyager, BlockFi, and the collapse of Terra/LUNA, led to billions being lost due to market plunges and also due to numerous hacks. This year also brought the Ethereum Merge, one of the most awaited events in crypto's short history. Amidst the turmoil, true believers like Chris Burniske saw a silver lining, while the crypto community watched for the further fallout of this year's crypto contagion to play out. Thank you to our sponsors! Crypto.com Chainalysis Minima DeFi Saver DAO attacker revealed: Exclusive: Crypto's Biggest Whodunnit: Who Was Behind the 2016 DAO Attack on Ethereum? Exclusive: Austrian Programmer And Ex Crypto CEO Likely Stole $11 Billion Of Ether Ukraine War: How Ukraine Is Leveraging Crypto in Its Fight Against Russia - Unchained Podcast The Chopping Block: In 'the First Crypto War,' How Should the Money Be Spent? - Unchained Podcast Ukraine Has Received $150 Million in Crypto. Here's How It Is Being Used - Unchained Podcast Hacks and exploits: Bridge Hacks Have Caused ~$1 Billion in Losses. Here's Why Bridge Security Is Tricky - Unchained Podcast Terra collapse: Did Someone Deliberately Attack Terra/Luna to Kick off a Death Spiral? - Unchained Podcast Why Terra Collapsed and Whether an Algo Stablecoin Can Ever Succeed - Unchained Podcast The Chopping Block: Kevin Zhou on Why He Knew Terra Would Crash - Unchained Podcast The 5 Biggest Lessons From Terra/Luna's Collapse, According to Tascha Che - Unchained Podcast Bankruptcies - 3AC, Celsius and Voyager: Why Possible Insolvencies by Celsius and 3AC Could Spell Disaster for Crypto - Ep. 364 - Unchained Podcast The Chopping Block: Here's What Was So Bad About Three Arrows Capital - Ep. 368 - Unchained Podcast Three Crypto Bankruptcies: 3AC, Celsius and Voyager. What Happens Now?- Ep. 374 - Unchained Podcast Tornado Cash: Tornado Cash Sanctioned. Did the Government Overstep Its Bounds? - Ep. 384 - Unchained Podcast The Chopping Block: Did OFAC Overstep by Sanctioning Tornado Cash? - Ep. 386 - Unchained Podcast Is TRM Labs Blocking Addresses From DeFi Protocols? Ari Redbord Says No - Ep.387 - Unchained Podcast Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant? - Ep. 390 - Unchained Podcast The Chopping Block: Why DeFi May Be Over-Complying With Tornado Cash Sanctions - Ep. 392 - Unchained Podcast The Merge: With the Merge, Will Ethereum Take Over Bitcoin's Title as Digital Gold? - Ep. 389 - Unchained Podcast Arthur Hayes, Former Ethereum Skeptic, on Why the Merge Makes Him Bullish on ETH - Ep. 393 - Unchained Podcast Preston Van Loon on Ethereum's Merge and His Lawsuit Against Treasury- Ep.394 - Unchained Podcast Did the Merge Make Ethereum ‘the Most Secure Blockchain in the World'? – Ep. 397 Do Kwon comes on Unchained: Do Kwon of Terra: ‘It Was Never Really About Money or Fame or Success' – Ep. 408 NFT royalties: The Chopping Block: Two on Two Debate: NFT Royalty Throwdown! - Ep. 409 - Unchained Podcast Are NFT Royalties the Way? How to Build a Sustainable Creator Economy - Ep. 414 - Unchained Podcast FTX Collapse: The Chopping Block: FTX: The Biggest Collapse in the History of Crypto? - Ep. 418 - Unchained Podcast Erik Voorhees and Cobie on Why FTX Loaned Out Customers' Assets - Ep. 419 - Unchained Podcast Will FTX Customers Ever Recover Their Assets? Two Insolvency Experts Weigh In - Ep. 420 - Unchained Podcast The Chopping Block: Why Lenders Didn't Liquidate Alameda When It Was Underwater - Ep. 421 - Unchained Podcast Did the Bahamian Government Direct SBF and Gary Wang to Hack FTX? - Ep. 422 - Unchained Podcast Jesse Powell and Kevin Zhou on How FTX and Alameda Lost $10 Billion - Ep. 423 - Unchained Podcast The Chopping Block on FTX/Alameda: Is Sam Bankman-Fried 'Crypto Kanye'? - Ep. 424 - Unchained Podcast Learn more about your ad choices. Visit megaphone.fm/adchoices
This episode of Unchained looks back on a tumultuous year for the cryptocurrency industry in 2022. Significant events such as the bankruptcies of FTX, Three Arrows Capital, Celsius, Voyager, BlockFi, and the collapse of Terra/LUNA, led to billions being lost due to market plunges and also due to numerous hacks. This year also brought the Ethereum Merge, one of the most awaited events in crypto's short history. Amidst the turmoil, true believers like Chris Burniske saw a silver lining, while the crypto community watched for the further fallout of this year's crypto contagion to play out. Thank you to our sponsors! Crypto.com Chainalysis Minima DeFi Saver DAO attacker revealed: Exclusive: Crypto's Biggest Whodunnit: Who Was Behind the 2016 DAO Attack on Ethereum? Exclusive: Austrian Programmer And Ex Crypto CEO Likely Stole $11 Billion Of Ether Ukraine War: How Ukraine Is Leveraging Crypto in Its Fight Against Russia - Unchained Podcast The Chopping Block: In 'the First Crypto War,' How Should the Money Be Spent? - Unchained Podcast Ukraine Has Received $150 Million in Crypto. Here's How It Is Being Used - Unchained Podcast Hacks and exploits: Bridge Hacks Have Caused ~$1 Billion in Losses. Here's Why Bridge Security Is Tricky - Unchained Podcast Terra collapse: Did Someone Deliberately Attack Terra/Luna to Kick off a Death Spiral? - Unchained Podcast Why Terra Collapsed and Whether an Algo Stablecoin Can Ever Succeed - Unchained Podcast The Chopping Block: Kevin Zhou on Why He Knew Terra Would Crash - Unchained Podcast The 5 Biggest Lessons From Terra/Luna's Collapse, According to Tascha Che - Unchained Podcast Bankruptcies - 3AC, Celsius and Voyager: Why Possible Insolvencies by Celsius and 3AC Could Spell Disaster for Crypto - Ep. 364 - Unchained Podcast The Chopping Block: Here's What Was So Bad About Three Arrows Capital - Ep. 368 - Unchained Podcast Three Crypto Bankruptcies: 3AC, Celsius and Voyager. What Happens Now?- Ep. 374 - Unchained Podcast Tornado Cash: Tornado Cash Sanctioned. Did the Government Overstep Its Bounds? - Ep. 384 - Unchained Podcast The Chopping Block: Did OFAC Overstep by Sanctioning Tornado Cash? - Ep. 386 - Unchained Podcast Is TRM Labs Blocking Addresses From DeFi Protocols? Ari Redbord Says No - Ep.387 - Unchained Podcast Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant? - Ep. 390 - Unchained Podcast The Chopping Block: Why DeFi May Be Over-Complying With Tornado Cash Sanctions - Ep. 392 - Unchained Podcast The Merge: With the Merge, Will Ethereum Take Over Bitcoin's Title as Digital Gold? - Ep. 389 - Unchained Podcast Arthur Hayes, Former Ethereum Skeptic, on Why the Merge Makes Him Bullish on ETH - Ep. 393 - Unchained Podcast Preston Van Loon on Ethereum's Merge and His Lawsuit Against Treasury- Ep.394 - Unchained Podcast Did the Merge Make Ethereum ‘the Most Secure Blockchain in the World'? – Ep. 397 Do Kwon comes on Unchained: Do Kwon of Terra: ‘It Was Never Really About Money or Fame or Success' – Ep. 408 NFT royalties: The Chopping Block: Two on Two Debate: NFT Royalty Throwdown! - Ep. 409 - Unchained Podcast Are NFT Royalties the Way? How to Build a Sustainable Creator Economy - Ep. 414 - Unchained Podcast FTX Collapse: The Chopping Block: FTX: The Biggest Collapse in the History of Crypto? - Ep. 418 - Unchained Podcast Erik Voorhees and Cobie on Why FTX Loaned Out Customers' Assets - Ep. 419 - Unchained Podcast Will FTX Customers Ever Recover Their Assets? Two Insolvency Experts Weigh In - Ep. 420 - Unchained Podcast The Chopping Block: Why Lenders Didn't Liquidate Alameda When It Was Underwater - Ep. 421 - Unchained Podcast Did the Bahamian Government Direct SBF and Gary Wang to Hack FTX? - Ep. 422 - Unchained Podcast Jesse Powell and Kevin Zhou on How FTX and Alameda Lost $10 Billion - Ep. 423 - Unchained Podcast The Chopping Block on FTX/Alameda: Is Sam Bankman-Fried 'Crypto Kanye'? - Ep. 424 - Unchained Podcast Learn more about your ad choices. Visit megaphone.fm/adchoices
What a year. Cobie, crypto investor and host of UpOnly, and Chris Burniske, partner at Placeholder Ventures, sift through 2022's rubble for clues as to what lies ahead in 2023. The two bright lights of Crypto Twitter weigh in on SBF's fraud, how to succeed through the bear market, and what remains promising despite the gloom and doom. Show highlights: why 2022 is “the hangover of 2021” why this year's big meltdowns were different and dispiriting why it was actually a year to remind us of why we're all here how the underlying protocols didn't skip a beat how to survive the bear market what Chris feels guilty about in the wake of Alameda's collapse why Cobie hopes SBF spends life in jail whether people will actually use decentralized alternatives – or if banking-like relationships will prevail what Chris sees as the 2023 version of proof-of-stake in 2017 why Cobie thinks bitcoin is an area of opportunity over the next few years whether the multichain thesis (“Solunavax”) will ever rise again whether the contagion is over if disgraced figureheads deserve a second chance a lightning round lookback on 2022 Thank you to our sponsors! Crypto.com Chainalysis Minima DeFi Saver Guests: Cobie: Twitter Substack UpOnly Previous appearances on Unchained: Erik Voorhees and Cobie on Why FTX Loaned Out Customers' Assets Cobie and Chris Burniske on How to Navigate a Crypto Bear Market Chris: Twitter Placeholder VC Previous appearances on Unchained: Chris Burniske: A Blank Slate of State Chris Burniske of Placeholder on the Downsides of ICOs The year in crypto: FTX Unchained: CFTC and SEC File Damning Complaints Against Sam Bankman-Fried and FTX Former FTX CEO Sam Bankman-Fried Arrested Amid US Indictment FTX Bankruptcy Overseer Says Company's Collapse Is Worst He's Ever Seen Terra: CoinDesk: The Fall of Terra: A Timeline of the Meteoric Rise and Crash of UST and LUNA Three Arrows Capital CNBC's full interview with Three Arrows Capital's Kyle Davies on the downfall of the defunct crypto hedge fund CoinDesk: Three Arrows Capital Files for Bankruptcy in New York Tied to British Virgin Islands Proceeding DeCrypt: Bankrupt Three Arrows Capital Owes $3.5B to Creditors, Including $2.3B to Genesis Binance Unchained: Binance Passes Withdrawal ‘Stress Test' After $3B in Daily Outflows Forbes: Kevin O'Leary Points Finger At Binance For FTX Crash In Senate Testimony Silvergate The Block: Silvergate CEO seeks to reassure investors over crypto contagion The Financial Times: Silvergate: from tiny local lender to bank behind the crypto boom Genesis/DCG: Unchained: Genesis Warns of Bankruptcy If Funding Plans Fail: Report On-chain Analysts ID 432 GBTC Addresses After Grayscale Says No to Proof-of-Reserves Learn more about your ad choices. Visit megaphone.fm/adchoices
Gm, Gm all! It's a bear market, fud is all around us, crypto market is down, Solana is down, NFT's are mostly sideways, but still tons to go over. I've been debating the idea of how we move the space forward and have actually come around to the Web 3 narrative and think we should all get behind it. Why? It rebrands crypto, gives a much more positive connotation and also puts together all these different factions of crypto communities giving us one big central idea to push. All the different communities and coins and protocols are too much and the infighting does nothing. I normally cover what's the biggest fud, and it's the internal fighting. It's Eth vs BTC, it's Eth vs Sol, it's Solana NFT projects bickering about royalties. It's actually the biggest users and biggest bulls that aren't doing themselves any favors. I think a lot of these discussions aren't meant for the public and are boring af. A lot of this is arguing about the wires that power the internet, not the beautiful applications of the innovation that we can cheer on. I don't know how we go about changing this, but we gotta start with ourselves and choosing positivity over fud. Solana is a positive add to the web 3 space, and we need to be promoting digital assets that are fun and can be wholly owned and secured. * Solana Price - We're sitting at $12.19, we had a high of $14.70 and dumped to $11.70. The crazy part about this is that I can't even tell you why. It got scary on the lows, we recovered, but you know everyone is out there calling for sub $10. * Sol/Eth - nothing burger - sitting at .0100, still down bad.* NFT News - Mara's minted out yesterday, strong community and dope art from Near, Knittables are minting today and it looks like they are having some issues with the mint page being down. I gotta bring up the Trump drop. He dropped his trading cards and it was a smash. On Polygon. 45,000 individual pieces and they 10x'd before dropping. How do you bring about mass adoption? Bring in the niche communities and show them they can make money. Maga hit a 10x. They are a powerful community with 45 million votes for Trump as president. A former president (whether you like him and his politics aside) launched an NFT project and you're not bullish on the space? Come on! The way it was done was smart, it was a digital trading collectible. Easy to digest, pay $99, use a credit card if you want, and you get a digital card. Whether they will be able to actually find their wallet is yet to be determined. This proves that the more that we can simplify the wording, narrative, process, the better off we are. Growth is growth. * Defi news - Drift Protocol version 2 is live to everyone. I tested it out and it's clean AF. I think we need more of these and hope to see them succeed. I also got red pilled on Lifinity and their Flare NFT project as well as their defi protocol. I love everything about this, lock up your NFT for 6 months, earn yourself some tokens, lock those tokens, earn more. Also while you do that you are earning some of the revenue of the defi protocol. So it's not actually a ponzi, it's distributing profits. The team seems solid, community has been super welcoming. I also have to bring up some conversations that Toly has been having. He's been advocating for building out a CEX on Solana. I don't really know how this would work, but the idea would be something like a centralized organization having all reserves and addresses on chain so that you never have another FTX. I could see this being huge because the centralized experience is generally so much better. I watch Toly's Twitter debates like an avid sports fan that doesn't fully understand the sport, like it's rugby or something but it's my college so I'm rooting regardless. One of the main guys at Orca actually chimed in saying this is something they will do. Bullish. I tried pinging him in MonkeDao's Defi channel in Discord but haven't heard anything back. They also discussed this on the Unchained Podcast in the Episode with Cobie and Chris Burniske. * The quicky of the current thing - Trump, Polygon, multichain, L1's even profitable, NFT smart contracts being open sourced or siloed to Magic Eden, bear market, Bitcoin development, boredom, DCA. * Best FUD - I think that everyone's fudding, but everyone is just downbad. I think the biggest fud is people leaving the space because it's just not as fun. We're going to be down for a while, find some areas you can contribute to and add something positive. Or just DCA and work. Another thing I've been thinking about is how I'm going to actually use the Solana Phone. They start shipping Q1 and I'm an iPhone guy. I'm ready to upgrade my phone and debating getting a new iPhone or just going 100% Solana. I'll probably keep the iPhone because I don't want to have those green messages in the group chat and ruin it for everyone when someone likes a post. But we'll see. Anyways, this is Thomas Bahamas bringing you an okay recap of the week in Solana. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thomasbahamas.substack.com
What a year. Cobie, crypto investor and host of UpOnly, and Chris Burniske, partner at Placeholder Ventures, sift through 2022's rubble for clues as to what lies ahead in 2023. The two bright lights of Crypto Twitter weigh in on SBF's fraud, how to succeed through the bear market, and what remains promising despite the gloom and doom. Show highlights: why 2022 is “the hangover of 2021” why this year's big meltdowns were different and dispiriting why it was actually a year to remind us of why we're all here how the underlying protocols didn't skip a beat how to survive the bear market what Chris feels guilty about in the wake of Alameda's collapse why Cobie hopes SBF spends life in jail whether people will actually use decentralized alternatives – or if banking-like relationships will prevail what Chris sees as the 2023 version of proof-of-stake in 2017 why Cobie thinks bitcoin is an area of opportunity over the next few years whether the multichain thesis (“Solunavax”) will ever rise again whether the contagion is over if disgraced figureheads deserve a second chance a lightning round lookback on 2022 Thank you to our sponsors! Crypto.com Chainalysis Minima DeFi Saver Guests: Cobie: Twitter Substack UpOnly Previous appearances on Unchained: Erik Voorhees and Cobie on Why FTX Loaned Out Customers' Assets Cobie and Chris Burniske on How to Navigate a Crypto Bear Market Chris: Twitter Placeholder VC Previous appearances on Unchained: Chris Burniske: A Blank Slate of State Chris Burniske of Placeholder on the Downsides of ICOs The year in crypto: FTX Unchained: CFTC and SEC File Damning Complaints Against Sam Bankman-Fried and FTX Former FTX CEO Sam Bankman-Fried Arrested Amid US Indictment FTX Bankruptcy Overseer Says Company's Collapse Is Worst He's Ever Seen Terra: CoinDesk: The Fall of Terra: A Timeline of the Meteoric Rise and Crash of UST and LUNA Three Arrows Capital CNBC's full interview with Three Arrows Capital's Kyle Davies on the downfall of the defunct crypto hedge fund CoinDesk: Three Arrows Capital Files for Bankruptcy in New York Tied to British Virgin Islands Proceeding DeCrypt: Bankrupt Three Arrows Capital Owes $3.5B to Creditors, Including $2.3B to Genesis Binance Unchained: Binance Passes Withdrawal ‘Stress Test' After $3B in Daily Outflows Forbes: Kevin O'Leary Points Finger At Binance For FTX Crash In Senate Testimony Silvergate The Block: Silvergate CEO seeks to reassure investors over crypto contagion The Financial Times: Silvergate: from tiny local lender to bank behind the crypto boom Genesis/DCG: Unchained: Genesis Warns of Bankruptcy If Funding Plans Fail: Report On-chain Analysts ID 432 GBTC Addresses After Grayscale Says No to Proof-of-Reserves Learn more about your ad choices. Visit megaphone.fm/adchoices
Season 2 | Episode 6 In this episode of Bell Curve, Chris Burniske and Fernando Martinelli join us to discuss how to build sustainable, value-accruing protocols. We start with this simple question and dive deep into the mechanics behind token value accrual. The group discusses DAO capital allocation, evolving fee markets, the efficacy of airdrops, rewarding labor vs capital, the problem with a fixed token supply and more! - - Timestamps: (00:00) Intro: Pre-Interview (02:28) Balancer: Self-Sustaining Infrastructure (11:55) Hyperscaling (18:24) How Will Fee Markets Evolve? (31:58) Capital Allocation Decisions (40:48) “Reserve Ad” (43:12) Airdrops, Identity Solutions and Rewarding Labor (59:46) Pushback Against VCs & Insider Allocations (1:06:27) Moving Away From A Fixed Token Supply (1:12:13) Returning Capital To Token/Shareholders (1:16:51) Building Moats In Crypto (1:24:41) Recap: Post-Interview - - Follow Chris: https://twitter.com/cburniske Follow Fernando: https://twitter.com/fcmartinelli?lang=en Follow Mike: https://twitter.com/MikeIppolito_ Follow Jason: https://twitter.com/JasonYanowitz Subscribe on YouTube: https://bit.ly/3R1D1D9 Subscribe on Apple: https://apple.co/3pQTfmD Subscribe on Spotify: https://spoti.fi/3cpKZXH - - Resources: Placeholder https://www.placeholder.vc/ Balancer https://balancer.fi/ Dan's UNI-chain thread https://twitter.com/delitzer/status/1575497730343899136?lang=en Chris's tweet on VC preferential access https://twitter.com/cburniske/status/1602181852776878086 The Original Sin https://www.placeholder.vc/blog/2021/4/1/the-original-sin - - Reserve Protocol aims to protect consumers from the effects of high inflation and hopes to one day eradicate it. It's a self-service, permissionless factory where anyone can build, deploy and govern their own asset-backed stablecoins (RTokens), which can be integrated within DeFi and real-world commerce. The Reserve App is a user-friendly way for ordinary people to buy RSV stablecoin with their local currencies and use them locally. More info at https://reserve.org/ - - Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.
In this episode of Empire, Anatoly Yakovenko and Ben Sparango join us to discuss Solana's future in the aftermath of FTX. SBF and FTX were core investors and contributors to the Solana ecosystem. How did Solana get so intertwined with FTX? How bad was Solana damaged as a result? How will Solana recover? These are just a few of the questions we explore. We then dive into Solana's roadmap and discuss Solana's new local fee market, network outages, decentralization worries, monolithic chains vs rollups, the Solana mobile stack and more. This is the go-to podcast for all Solana fans and skeptics! - - Timestamps: (00:00) Introduction (01:18) How Did Solana Get So Intertwined With FTX? (11:20) How Important Was SBF To Solana's Growth? (17:36) Fallout From Reliance On FTX (20:05) Did You See This Coming? (25:07) What Exchanges Got Wrong & Alameda's 10% SOL Stake (29:58) FTX Impact On Solana Apps & Developers (33:30) Where Does Solana Go From Here? (42:13) Solana's Fee Markets & Decentralization Questions (46:16) Solving Solana's Network Outages (57:38) Monolithic Blockchains, Layer 2s & New Learnings (1:07:10) Economic Sustainability (1:10:30) Avalanche vs Cosmos, Who's Solana's Main Competitor? (1:14:59) The Importance Of Business Development (1:19:18) Google Partnership & The Solana Phone - - Follow Anatoly: https://twitter.com/aeyakovenko Follow Ben: https://twitter.com/bennybitcoins Follow Jason: https://twitter.com/JasonYanowitz Follow Santi: https://twitter.com/santiagoroel Follow Empire: https://twitter.com/theempirepod Subscribe on YouTube: https://tinyurl.com/4fdhhb2j Subscribe on Apple: https://tinyurl.com/mv4frfv7 Subscribe on Spotify: https://tinyurl.com/wbaypprw Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Circle's USDC has quickly become one of the most trusted and widely used stablecoins because of its composability, stability and reserve transparency. As a seamless, trusted digital currency, USDC is a zero-to-one opportunity for the global financial system. Check out their Transparency Hub at http://empirepodcast.link/circle that outlines everything from links to USDC weekly reserve reports, monthly attestations, and blog posts written by their executive team highlighting how and why USDC was built the way it is. - - Resources Break Solana website https://break.solana.com/ Chris Burniske's thread on Solana https://twitter.com/cburniske/status/1590455521307660290 Anatoly and Dankrad debate https://bit.ly/3Umky4T Solana events webpage https://solana.com/events Solana Twitter account https://twitter.com/solana The Solana Podcast https://bit.ly/3FgMAdS - - Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
Erik Voorhees, founder of ShapeShift, and Jordan Fish, aka Cobie, crypto investor and host of UpOnly, talk about the collapse of FTX. Show highlights: the links between FTX and Alameda what kickstarted the blowup of FTX why Erik and Cobie think that Bankman-Fried's behavior was “sociopathic” why the $10 billion hole is so shocking to Cobie considering the advantages that FTX had as a company whether this would have ever happened if the prices hadn't plummeted in the bear market the tension between advocates of privacy and those who want to limit criminal activity why Erik believes that SBF's donations to both political parties are bribery whether regulators can prevent an exchange from collapsing whether Changpeng Zhao did a better job at investigating FTX than anyone at the SEC the likelihood that this will result in criminal charges how blockchain technology is the solution to the problem of centralized exchanges doing things in the dark Tether's decision to freeze USDT owned by FTX Erik's response to Bitcoin maximalists who say FTX was caused by altcoins whether it is a mistake for exchanges to issue their own tokens how big the contagion could be in the industry why nobody should leave a significant amount of their net worth in a centralized exchange Erik's message to regulators whether SBF was aligned with the values and the ethos of crypto Thank you to our sponsors! Crypto.com Ava Labs DeFi Saver Erik: Twitter ShapeShift Previous Unchained episodes: Why ShapeShift's Erik Voorhees Thinks Toxic Bitcoin Maximalism Is Bullshit Shapeshift's Erik Voorhees on How Crypto Will Separate Money and State Cobie: Twitter Substack UpOnly Previous Unchained episodes: Cobie and Chris Burniske on How to Navigate a Crypto Bear Market Episode Links Previous coverage of Unchained: Sam Bankman-Fried on How to Prevent the Next Terra and 3AC The Chopping Block: FTX: The Biggest Collapse in the History of Crypto? FTX Collapse: FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall SBF's video talking to regulators Unchained coverage: FTX May File for Bankruptcy After Binance Walks Off the Deal FTX Needs $8B to Meet Investor Withdrawals: Report Tron Founder Justin Sun Says He Is Working With FTX on a Solution US DOJ Joins SEC and CFTC Probe of FTX FTX-Issued Wrapped Solana Tokens Could Add to DeFi Contagion: wBTC Creator Sequoia Capital Writes Off $214M FTX Investment to Zero Binance's dropped deal with FTX CZ's announcement SBF's announcement Binance's merkle-tree proof-of-reserves Unchained coverage: Binance Set to Buy FTX Amid Liquidity Crisis SBF's Net Worth Plummets 94% In One Day: Report There are Rumors that Alameda Went Down With 3AC in Q2 Alameda Owes More Than $30M in DeFi Debt Coinbase and Genesis Declare No Exposure to Collapsing FTX Binance Might Have Triggered a Liquidity Crisis as FTX's Main Wallet Lost 290K ETH in Two Days Binance to Liquidate Millions Worth of its FTX's Token Holdings FTX's Stablecoin Reserves Hit One-Year Low Alameda's Balance Sheet Sparks Controversy Crypto regulation Industry Leaders Debate How to Regulate DeFi Bankless debate between SBF and Erik Voorhees
Erik Voorhees, founder of ShapeShift, and Jordan Fish, aka Cobie, crypto investor and host of UpOnly, talk about the collapse of FTX. Show highlights: the links between FTX and Alameda what kickstarted the blowup of FTX why Erik and Cobie think that Bankman-Fried's behavior was “sociopathic” why the $10 billion hole is so shocking to Cobie considering the advantages that FTX had as a company whether this would have ever happened if the prices hadn't plummeted in the bear market the tension between advocates of privacy and those who want to limit criminal activity why Erik believes that SBF's donations to both political parties are bribery whether regulators can prevent an exchange from collapsing whether Changpeng Zhao did a better job at investigating FTX than anyone at the SEC the likelihood that this will result in criminal charges how blockchain technology is the solution to the problem of centralized exchanges doing things in the dark Tether's decision to freeze USDT owned by FTX Erik's response to Bitcoin maximalists who say FTX was caused by altcoins whether it is a mistake for exchanges to issue their own tokens how big the contagion could be in the industry why nobody should leave a significant amount of their net worth in a centralized exchange Erik's message to regulators whether SBF was aligned with the values and the ethos of crypto Thank you to our sponsors! Crypto.com Ava Labs DeFi Saver Erik: Twitter ShapeShift Previous Unchained episodes: Why ShapeShift's Erik Voorhees Thinks Toxic Bitcoin Maximalism Is Bullshit Shapeshift's Erik Voorhees on How Crypto Will Separate Money and State Cobie: Twitter Substack UpOnly Previous Unchained episodes: Cobie and Chris Burniske on How to Navigate a Crypto Bear Market Episode Links Previous coverage of Unchained: Sam Bankman-Fried on How to Prevent the Next Terra and 3AC The Chopping Block: FTX: The Biggest Collapse in the History of Crypto? FTX Collapse: FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall SBF's video talking to regulators Unchained coverage: FTX May File for Bankruptcy After Binance Walks Off the Deal FTX Needs $8B to Meet Investor Withdrawals: Report Tron Founder Justin Sun Says He Is Working With FTX on a Solution US DOJ Joins SEC and CFTC Probe of FTX FTX-Issued Wrapped Solana Tokens Could Add to DeFi Contagion: wBTC Creator Sequoia Capital Writes Off $214M FTX Investment to Zero Binance's dropped deal with FTX CZ's announcement SBF's announcement Binance's merkle-tree proof-of-reserves Unchained coverage: Binance Set to Buy FTX Amid Liquidity Crisis SBF's Net Worth Plummets 94% In One Day: Report There are Rumors that Alameda Went Down With 3AC in Q2 Alameda Owes More Than $30M in DeFi Debt Coinbase and Genesis Declare No Exposure to Collapsing FTX Binance Might Have Triggered a Liquidity Crisis as FTX's Main Wallet Lost 290K ETH in Two Days Binance to Liquidate Millions Worth of its FTX's Token Holdings FTX's Stablecoin Reserves Hit One-Year Low Alameda's Balance Sheet Sparks Controversy Crypto regulation Industry Leaders Debate How to Regulate DeFi Bankless debate between SBF and Erik Voorhees Learn more about your ad choices. Visit megaphone.fm/adchoices
In this episode of Empire's Weekly Roundup, we discuss Reddit embracing NFTs, Apple's new NFT policy, the future of stablecoins (FedCoin?), Elon's Twitter takeover and more. Tune in for the spiciest stories and takes of the week! - - Timestamps: (00:00) Intro (02:41) Tech Stocks, VR & Elon Twitter Takeover (14:25) Apple's NFT Announcement, Bullish? (23:17) Reddit Brings NFTs To $3M+ Users (29:33) What Makes Crypto Special (36:57) FTX Stablecoin Rumors & FedCoin Talk (48:14) Solana Virtual Machine Alpha - - Follow Santi: https://twitter.com/santiagoroel Follow Garrett: https://twitter.com/G_C_Harp Follow Empire: https://twitter.com/theempirepod Subscribe on YouTube: https://tinyurl.com/4fdhhb2j Subscribe on Apple: https://tinyurl.com/mv4frfv7 Subscribe on Spotify: https://tinyurl.com/wbaypprw Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Circle's USDC has quickly become one of the most trusted and widely used stablecoins because of its composability, stability and reserve transparency. As a seamless, trusted digital currency, USDC is a zero-to-one opportunity for the global financial system. Check out their Transparency Hub at http://empirepodcast.link/circle that outlines everything from links to USDC weekly reserve reports, monthly attestations, and blog posts written by their executive team highlighting how and why USDC was built the way it is. - - Resources Vibe Bio Empire Podcast https://spoti.fi/3FnQ2Uk Nudge (book) https://amzn.to/3DbVzuJ Matt Levine's crypto manifesto https://www.bloomberg.com/features/2022-the-crypto-story/ Chris Burniske's tweet on the SVM https://twitter.com/cburniske/status/1585346624574083072 - - Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
Nori lives at the intersection of climate and crypto, attempt to build a global commodities market for carbon removal on the blockchain. And while we've discussed carbon removal at length on the podcast, we've spent less time exploring how we're using crypto to determine a reference price for carbon. So, what does Nori look like under the hood? How can we use the blockchain as a tool to get the world's atmospheric carbon balance back to 300 parts per million? Chris Burniske is Partner at Placeholder VC, a venture capital firm that invests in decentralized networks and Web3 services, including Filecoin, Polkadot, and Nori. On this episode of Reversing Climate Change, Chris joins Ross and Nori CEO Paul Gambill to explain what differentiates our market-based system for valuing CO2 from other climate tech projects. Chris and Paul discuss the potential to build a world of complex financial instruments around Nori and describe what market mechanisms one might use to create depth around the pricing of carbon-backed assets. Listen in to understand how Nori might evolve to become a DAO and learn what distinguishes our approach from companies making advanced market commitments to carbon removal. Connect with Nori Purchase Nori Carbon Removals Nori's website Nori on Twitter Join Nori's Discord to hang out with other fans of the podcast and Nori Check out our other podcast, Carbon Removal Newsroom Carbon Removal Memes on Twitter Carbon Removal Memes on Instagram Resources Placeholder VC Chris on Twitter WeatherXM Vera The Gold Standard Frontier Group Uniswap ‘Isomorphism in DAO Governance' by Mario Laul --- Send in a voice message: https://anchor.fm/reversingclimatechange/message Support this podcast: https://anchor.fm/reversingclimatechange/support
Hasu, strategic advisor to Lido, and Tarun Chitra, founder of Gauntlet, explain everything about staked ETH, aka stETH, how it should be priced, Lido's market dominance, and much more. Show highlights: the role of Lido, what stETH is, and what its benefits are whether Ethereum's lack of delegated proof of stake contributes to the need for stETH why stETH is not mispriced and why it doesn't necessarily have to be worth 1 ETH the inherent risks associated with stETH how there was not enough liquidity to handle all the liquidations, especially in automated vaults on, for instance, Instadapp how automated market makers work and what Curve's amplification factor is whether 3AC and Celsius had a significant impact on the stETH/ETH “de-peg” how does the Merge affect the liquidity of stETH Hasu's and Tarun's level of confidence that the Merge will happen this year and whether it will be a success what will happen to the price of stETH after the redemptions are enabled why Lido has achieved such a level of dominance how Lido decreases the cost of staking and helps improve the security of the Ethereum blockchain whether there is going to be a “winner take all” in the liquid staking derivatives market how liquidity fragmentation can cause the system to blow up why LDO tokenholders might not have the same incentives as ETH tokenholders what is Lido's new dual governance model and what is it trying to achieve whether Lido should self limit its market dominance how Lido coordinates validators and the role of the LDO token in this coordination what are the lessons to be learned from the stETH situation how governance is a liability to DeFi protocols Thank you to our sponsors! Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021 Ava Labs: https://www.avax.network/ Oasis: https://oasisprotocol.org/grant-programs?utm_source=unchained&utm_medium=partnership&utm_campaign=podcast-oasis-grants-program EPISODE LINKS Hasu: Twitter: https://twitter.com/hasufl Uncommon Core Podcast: http://uncommoncore.co/podcast/ Tarun: Twitter: https://twitter.com/tarunchitra stETH Lido's explanation: https://twitter.com/LidoFinance/status/1535184472546889735?s=20&t=oQeB1uj7HG7Y4he-0gbcLg Lido's explanation #2: https://twitter.com/LidoFinance/status/1536756933054676992?s=20&t=oQeB1uj7HG7Y4he-0gbcLg Hasu's thread #1: https://twitter.com/hasufl/status/1524717773959700481?s=20&t=oQeB1uj7HG7Y4he-0gbcLg Hasu's thread #2: https://twitter.com/hasufl/status/1525427069198508033?s=20&t=oQeB1uj7HG7Y4he-0gbcLg Tarun's take: https://twitter.com/tarunchitra/status/1538775828573609985?s=20&t=oQeB1uj7HG7Y4he-0gbcLg Tarun's paper: Why Stake when you can borrow: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3629988 Lido Self-limit?: https://twitter.com/LidoFinance/status/1540258690942615555?s=20&t=sJU5C5xo5litEJrZZDaWNQ Hasu on Lido's dual governance proposal: https://twitter.com/hasufl/status/1540652075352313857?s=20&t=sJU5C5xo5litEJrZZDaWNQ Lido's two phase voting scheme :https://blog.lido.fi/moving-to-two-phase-voting/ Previous Unchained Coverage on DAO governance: Solend and Bancor Drama: Did These DAOs Violate the Ethos of Crypto?: https://unchainedpodcast.com/solend-and-bancor-drama-did-these-daos-violate-the-ethos-of-crypto-ep-366/ Bear Market: Insolvency of crypto lenders: 3AC: https://blockworks.co/three-arrows-capital-brink-default-owes-voyager-657m/ Celsius: https://www.theblock.co/linked/151522/crypto-lending-firm-celsius-pauses-withdrawals-and-transfers-citing-market-conditions Celsius possible bankruptcy: https://www.theblock.co/linked/154100/crypto-lender-celsius-hires-more-advisors-ahead-of-possible-bankruptcy-wsj Previous Unchained Coverage: Why Possible Insolvencies by Celsius and 3AC Could Spell Disaster for Crypto: https://unchainedpodcast.com/why-possible-insolvencies-by-celsius-and-3ac-could-spell-disaster-for-crypto/ Cobie and Chris Burniske on How to Navigate a Crypto Bear Market: https://unchainedpodcast.com/cobie-and-chris-burniske-on-how-to-navigate-a-crypto-bear-market-ep-354/
Hasu, strategic advisor to Lido, and Tarun Chitra, founder of Gauntlet, explain everything about staked ETH, aka stETH, how it should be priced, Lido's market dominance, and much more. Show highlights: the role of Lido, what stETH is, and what its benefits are whether Ethereum's lack of delegated proof of stake contributes to the need for stETH why stETH is not mispriced and why it doesn't necessarily have to be worth 1 ETH the inherent risks associated with stETH how there was not enough liquidity to handle all the liquidations, especially in automated vaults on, for instance, Instadapp how automated market makers work and what Curve's amplification factor is whether 3AC and Celsius had a significant impact on the stETH/ETH “de-peg” how does the Merge affect the liquidity of stETH Hasu's and Tarun's level of confidence that the Merge will happen this year and whether it will be a success what will happen to the price of stETH after the redemptions are enabled why Lido has achieved such a level of dominance how Lido decreases the cost of staking and helps improve the security of the Ethereum blockchain whether there is going to be a “winner take all” in the liquid staking derivatives market how liquidity fragmentation can cause the system to blow up why LDO tokenholders might not have the same incentives as ETH tokenholders what is Lido's new dual governance model and what is it trying to achieve whether Lido should self limit its market dominance how Lido coordinates validators and the role of the LDO token in this coordination what are the lessons to be learned from the stETH situation how governance is a liability to DeFi protocols Thank you to our sponsors! Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021 Ava Labs: https://www.avax.network/ Oasis: https://oasisprotocol.org/grant-programs?utm_source=unchained&utm_medium=partnership&utm_campaign=podcast-oasis-grants-program EPISODE LINKS Hasu: Twitter: https://twitter.com/hasufl Uncommon Core Podcast: http://uncommoncore.co/podcast/ Tarun: Twitter: https://twitter.com/tarunchitra stETH Lido's explanation: https://twitter.com/LidoFinance/status/1535184472546889735?s=20&t=oQeB1uj7HG7Y4he-0gbcLg Lido's explanation #2: https://twitter.com/LidoFinance/status/1536756933054676992?s=20&t=oQeB1uj7HG7Y4he-0gbcLg Hasu's thread #1: https://twitter.com/hasufl/status/1524717773959700481?s=20&t=oQeB1uj7HG7Y4he-0gbcLg Hasu's thread #2: https://twitter.com/hasufl/status/1525427069198508033?s=20&t=oQeB1uj7HG7Y4he-0gbcLg Tarun's take: https://twitter.com/tarunchitra/status/1538775828573609985?s=20&t=oQeB1uj7HG7Y4he-0gbcLg Tarun's paper: Why Stake when you can borrow: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3629988 Lido Self-limit?: https://twitter.com/LidoFinance/status/1540258690942615555?s=20&t=sJU5C5xo5litEJrZZDaWNQ Hasu on Lido's dual governance proposal: https://twitter.com/hasufl/status/1540652075352313857?s=20&t=sJU5C5xo5litEJrZZDaWNQ Lido's two phase voting scheme :https://blog.lido.fi/moving-to-two-phase-voting/ Previous Unchained Coverage on DAO governance: Solend and Bancor Drama: Did These DAOs Violate the Ethos of Crypto?: https://unchainedpodcast.com/solend-and-bancor-drama-did-these-daos-violate-the-ethos-of-crypto-ep-366/ Bear Market: Insolvency of crypto lenders: 3AC: https://blockworks.co/three-arrows-capital-brink-default-owes-voyager-657m/ Celsius: https://www.theblock.co/linked/151522/crypto-lending-firm-celsius-pauses-withdrawals-and-transfers-citing-market-conditions Celsius possible bankruptcy: https://www.theblock.co/linked/154100/crypto-lender-celsius-hires-more-advisors-ahead-of-possible-bankruptcy-wsj Previous Unchained Coverage: Why Possible Insolvencies by Celsius and 3AC Could Spell Disaster for Crypto: https://unchainedpodcast.com/why-possible-insolvencies-by-celsius-and-3ac-could-spell-disaster-for-crypto/ Cobie and Chris Burniske on How to Navigate a Crypto Bear Market: https://unchainedpodcast.com/cobie-and-chris-burniske-on-how-to-navigate-a-crypto-bear-market-ep-354/
Shaun Maguire and Michelle Bailhe, partners at Sequoia, discuss their long term view and thesis about crypto, what do they look for to invest in a crypto project, the takeaways from the blowup of Terra, the insolvency of crypto companies, and much more. Show highlights: what is Sequoia's long term view and thesis about the crypto industry how different our lives will look in 20 years from now due to blockchain technology how Sequoia had to adapt to invest in this new asset class and what are the similarities and differences with investing in traditional startups when a product or service on the internet should be offered in a decentralized or centralized way how Sequoia decides whether to invest in the entity behind a project or in the tokens whether having venture capitalists involved at all goes against the ethos of decentralization why Shaun believes that Ethereum proved that decentralization can be achieved even when you start being centralized whether people underestimate the value that VCs can add to a project why Shaun believes that Solana is moving towards decentralization Sequoia's thesis about privacy in crypto and the potential of zero-knowledge proofs how Michelle sees the macroeconomic environment impacting crypto and whether this cycle is different from the previous ones the importance of product market fit in crypto projects what crypto projects should be focusing on and the business model they should be pursuing the main takeaways of the Terra collapse and how it was a major setback for algo stablecoins how crypto founders should always do the right thing even though there is no clear regulation whether SBF is the Berkshire Hathaway of crypto today the lessons to be learned from the potential insolvency of some crypto lenders and investment firms how demand for blockspace will keep increasing and whether a single blockchain could supply all that space the future of the metaverse and how it can be defined Michelle's mental model for crypto and the phases for achieving worldwide adoption Thank you to our sponsors! Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021 Beefy Finance: https://beefy.finance/ Ava Labs: https://www.avax.network/ EPISODE LINKS Shaun Maguire: Twitter: https://www.twitter.com/shaunmmaguire Sequoia Profile: https://www.sequoiacap.com/people/shaun-maguire/ Michelle: Twitter: https://twitter.com/michellebailhe Sequoia Profile: https://www.sequoiacap.com/people/michelle-bailhe/ Michelle's investment thesis: https://www.sequoiacap.com/article/ask-not-wen-moon-ask-why-moon/ Bear Market: Michelle's Twitter thread: https://twitter.com/michellebailhe/status/1526373378516365312?s=20&t=c7vdmdg2mnQ34rsAGIm0lg Insolvency of crypto lenders: Voyager: https://www.coindesk.com/business/2022/06/22/voyager-digital-requests-loan-repayment-from-3ac-considers-issuing-default-notice/ BlockFi: https://decrypt.co/103422/blockfi-secures-250-million-line-of-credit-from-ftx Celsius: https://www.theblock.co/linked/151522/crypto-lending-firm-celsius-pauses-withdrawals-and-transfers-citing-market-conditions Celsius possible bankruptcy: https://www.theblock.co/linked/154100/crypto-lender-celsius-hires-more-advisors-ahead-of-possible-bankruptcy-wsj Previous Unchained Coverage: Why Possible Insolvencies by Celsius and 3AC Could Spell Disaster for Crypto: https://unchainedpodcast.com/why-possible-insolvencies-by-celsius-and-3ac-could-spell-disaster-for-crypto/ Cobie and Chris Burniske on How to Navigate a Crypto Bear Market: https://unchainedpodcast.com/cobie-and-chris-burniske-on-how-to-navigate-a-crypto-bear-market-ep-354/ Terra Shaun's take on stablecoins: https://twitter.com/shaunmmaguire/status/1524420727968976898?s=20&t=26DylQ2_YbW36Y4ZMwxVFw Previous Unchained Coverage: Kevin Zhou on the risk of UST's death spiral: https://unchainedpodcast.com/heres-why-usdn-de-pegged-from-the-dollar-and-why-ust-might-too/ The Legal and Regulatory Fallout From Terra's Collapse: Who Will Pay?: https://unchainedpodcast.com/the-legal-and-regulatory-fallout-from-terras-collapse-who-will-pay-ep-363/ The Chopping Block: Does the New Terra Have Any Chance?: https://unchainedpodcast.com/the-chopping-block-does-the-new-terra-have-any-chance/ Why Terra Collapsed and Whether an Algo Stablecoin Can Ever Succeed: https://unchainedpodcast.com/why-terra-collapsed-and-whether-an-algo-stablecoin-can-ever-succeed/ The 5 Biggest Lessons From Terra/Luna's Collapse, According to Tascha Che: https://unchainedpodcast.com/the-5-biggest-lessons-from-terra-lunas-collapse-according-to-tascha-che/
Shaun Maguire and Michelle Bailhe, partners at Sequoia, discuss their long term view and thesis about crypto, what do they look for to invest in a crypto project, the takeaways from the blowup of Terra, the insolvency of crypto companies, and much more. Show highlights: what is Sequoia's long term view and thesis about the crypto industry how different our lives will look in 20 years from now due to blockchain technology how Sequoia had to adapt to invest in this new asset class and what are the similarities and differences with investing in traditional startups when a product or service on the internet should be offered in a decentralized or centralized way how Sequoia decides whether to invest in the entity behind a project or in the tokens whether having venture capitalists involved at all goes against the ethos of decentralization why Shaun believes that Ethereum proved that decentralization can be achieved even when you start being centralized whether people underestimate the value that VCs can add to a project why Shaun believes that Solana is moving towards decentralization Sequoia's thesis about privacy in crypto and the potential of zero-knowledge proofs how Michelle sees the macroeconomic environment impacting crypto and whether this cycle is different from the previous ones the importance of product market fit in crypto projects what crypto projects should be focusing on and the business model they should be pursuing the main takeaways of the Terra collapse and how it was a major setback for algo stablecoins how crypto founders should always do the right thing even though there is no clear regulation whether SBF is the Berkshire Hathaway of crypto today the lessons to be learned from the potential insolvency of some crypto lenders and investment firms how demand for blockspace will keep increasing and whether a single blockchain could supply all that space the future of the metaverse and how it can be defined Michelle's mental model for crypto and the phases for achieving worldwide adoption Thank you to our sponsors! Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021 Beefy Finance: https://beefy.finance/ Ava Labs: https://www.avax.network/ EPISODE LINKS Shaun Maguire: Twitter: https://www.twitter.com/shaunmmaguire Sequoia Profile: https://www.sequoiacap.com/people/shaun-maguire/ Michelle: Twitter: https://twitter.com/michellebailhe Sequoia Profile: https://www.sequoiacap.com/people/michelle-bailhe/ Michelle's investment thesis: https://www.sequoiacap.com/article/ask-not-wen-moon-ask-why-moon/ Bear Market: Michelle's Twitter thread: https://twitter.com/michellebailhe/status/1526373378516365312?s=20&t=c7vdmdg2mnQ34rsAGIm0lg Insolvency of crypto lenders: Voyager: https://www.coindesk.com/business/2022/06/22/voyager-digital-requests-loan-repayment-from-3ac-considers-issuing-default-notice/ BlockFi: https://decrypt.co/103422/blockfi-secures-250-million-line-of-credit-from-ftx Celsius: https://www.theblock.co/linked/151522/crypto-lending-firm-celsius-pauses-withdrawals-and-transfers-citing-market-conditions Celsius possible bankruptcy: https://www.theblock.co/linked/154100/crypto-lender-celsius-hires-more-advisors-ahead-of-possible-bankruptcy-wsj Previous Unchained Coverage: Why Possible Insolvencies by Celsius and 3AC Could Spell Disaster for Crypto: https://unchainedpodcast.com/why-possible-insolvencies-by-celsius-and-3ac-could-spell-disaster-for-crypto/ Cobie and Chris Burniske on How to Navigate a Crypto Bear Market: https://unchainedpodcast.com/cobie-and-chris-burniske-on-how-to-navigate-a-crypto-bear-market-ep-354/ Terra Shaun's take on stablecoins: https://twitter.com/shaunmmaguire/status/1524420727968976898?s=20&t=26DylQ2_YbW36Y4ZMwxVFw Previous Unchained Coverage: Kevin Zhou on the risk of UST's death spiral: https://unchainedpodcast.com/heres-why-usdn-de-pegged-from-the-dollar-and-why-ust-might-too/ The Legal and Regulatory Fallout From Terra's Collapse: Who Will Pay?: https://unchainedpodcast.com/the-legal-and-regulatory-fallout-from-terras-collapse-who-will-pay-ep-363/ The Chopping Block: Does the New Terra Have Any Chance?: https://unchainedpodcast.com/the-chopping-block-does-the-new-terra-have-any-chance/ Why Terra Collapsed and Whether an Algo Stablecoin Can Ever Succeed: https://unchainedpodcast.com/why-terra-collapsed-and-whether-an-algo-stablecoin-can-ever-succeed/ The 5 Biggest Lessons From Terra/Luna's Collapse, According to Tascha Che: https://unchainedpodcast.com/the-5-biggest-lessons-from-terra-lunas-collapse-according-to-tascha-che/
Cobie, co-founder of Lido and UpOnlyTv, and Chris Burniske, partner at Placeholder Ventures, talk about surviving a crypto bear market, the Terra collapse, lessons they've learned from their mistakes, and much more. Show highlights: whether Chris and Cobie think crypto is in a bear market why Chris says these are the times to buy what effect the Terra debacle will have on the crypto industry why Chris was expecting UST to blow up why Chris thinks there is going to be another massive liquidation event whether an algo stablecoin could work why bear markets are sometimes a good thing how USDT was stress tested and proved its resilience how macro is affecting the crypto space and what the role of the Fed is when will we see the bottom of this bear market how meme coins are the symptoms of a broken system why this crypto cycle is different whether regulations are helping VCs rather than the retail investors why risky assets are the ones that could increase 10,000x whether the future of crypto is multichain or not how developers signal what ecosystem is going to win in the next expansion cycle whether Cobie thinks staking is dying how Chris judges market bottoms and tops what lessons Cobie and Chris have learned from their mistakes what innovations will catalyze the next bull cycle what needs to happen in the future for crypto to succeed Thank you to our sponsors! Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021 Cross River Bank: https://crossriver.com/crypto Beefy Finance: https://beefy.finance Episode Links Cobie Twitter: https://twitter.com/cobie UpOnlyTv: https://uponly.tv/ Substack: https://cobie.substack.com/ L1 trading: https://cobie.substack.com/p/trading-the-metagame?s=r Death of staking: https://cobie.substack.com/p/apecoin-and-the-death-of-staking?s=r Token unlocks: https://cobie.substack.com/p/on-the-meme-of-market-caps-and-unlocks?s=r Cycle Tweets: Why “the next cycle” reasoning scares him https://twitter.com/cobie/status/1524965475813568512 What projects will survive the bear https://twitter.com/cobie/status/1469253171885318146 His call to “buy” on March 12 2020 https://twitter.com/cobie/status/1238282793244860417 Which VCs will win https://twitter.com/cobie/status/1515667977118826500 Chris Burniske LinkedIn https://www.linkedin.com/in/burniske/ Twitter https://twitter.com/cburniske Previous Unchained episode https://unchainedpodcast.com/chris-burniske-a-blank-slate-of-state/ https://unchainedpodcast.com/chris-burniske-of-placeholder-on-the-downsides-of-icos/ https://unchainedpodcast.com/want-to-diversify-your-portfolio-try-bitcoin-say-arks-chris-burniske-and-coinbases-adam-white/ https://unchainedpodcast.com/how-to-value-a-crypto-asset/ Cycle Tweets Feb 2022 bear call https://twitter.com/cburniske/status/1495468570708426754 March 2022 bear call https://twitter.com/cburniske/status/1523021991619428352 November 2021 top call https://twitter.com/cburniske/status/1457884538806308868 DCA advice https://twitter.com/cburniske/status/1525906152881459200 https://twitter.com/cburniske/status/1500593438433021952 What could knock the market further down https://twitter.com/cburniske/status/1525157945079496705 https://twitter.com/cburniske/status/1524260987787902978 2017 ATH calls https://twitter.com/cburniske/status/1524838447784947712 https://twitter.com/cburniske/status/1524524188366635008 Trying to time the bottom https://twitter.com/cburniske/status/1523573129431240710 Chris x Cobie Luna https://twitter.com/cburniske/status/1524280637431164929 Feeling sorry for people who have lost $ https://twitter.com/cburniske/status/1524267901456248832 Bear Market Content Dragonfly https://medium.com/dragonfly-research/to-all-dragonfly-founders-and-friends-1a65e68093d4 Sequoia advice https://twitter.com/michellebailhe/status/1526373376142348288 Arthur Hayes buying BTC at $20K in wake of Terra https://entrepreneurshandbook.co/luna-brothers-inc-712ec5abe199 Financial comeuppance https://cryptohayes.medium.com/annihilation-4effdaf3c73f Paradigm (surviving crypto cycles) https://www.paradigm.xyz/2021/03/surviving-crypto-cycles Zhu Su on being a better role model for retail https://twitter.com/zhusu/status/1525045033216397312 Nick Tomaino on stopping relentless shilling https://twitter.com/NTmoney/status/1525234408910987264 Lot's of talk about “suicide” in context of LUNA https://bitcoinist.com/luna-investors-suicidal-after-cryptos-collapse/ Helping smaller LUNA wallets first https://twitter.com/VitalikButerin/status/1525561624974700545 Punk6529 on surviving the bear market https://twitter.com/punk6529/status/1525565876711444484 Ian from Syndicate DAO on previous cycles https://twitter.com/ianDAOs/status/1524613312582799360 Best website for looking at token performance https://cryptorank.io/performance Chris Burniske: Twitter: https://twitter.com/cburniske Placeholder VC: https://www.placeholder.vc/ Previous Unchained Coverage on Terra Nic Carter, Erik Voorhees, and Eric Wall on the collapse of UST https://unchainedpodcast.com/why-terra-collapsed-and-whether-an-algo-stablecoin-can-ever-succeed/ Do Kwon on backing UST with BTC https://unchainedpodcast.com/do-kwon-is-backing-ust-with-bitcoin-and-heres-what-else-he-is-building/ Kevin Zhou on the risk of UST's death spiral https://unchainedpodcast.com/heres-why-usdn-depegged-from-the-dollar-and-why-ust-might-too/ Jon Wu on how Terra got depegged: https://unchainedpodcast.com/did-someone-deliberately-attack-terra-luna-to-kick-off-a-death-spiral/ Do Kwon on The Chopping Block https://www.youtube.com/watch?v=0xl8u7-KVwM
Cobie, co-founder of Lido and UpOnlyTv, and Chris Burniske, partner at Placeholder Ventures, talk about surviving a crypto bear market, the Terra collapse, lessons they've learned from their mistakes, and much more. Show highlights: whether Chris and Cobie think crypto is in a bear market why Chris says these are the times to buy what effect the Terra debacle will have on the crypto industry why Chris was expecting UST to blow up why Chris thinks there is going to be another massive liquidation event whether an algo stablecoin could work why bear markets are sometimes a good thing how USDT was stress tested and proved its resilience how macro is affecting the crypto space and what the role of the Fed is when will we see the bottom of this bear market how meme coins are the symptoms of a broken system why this crypto cycle is different whether regulations are helping VCs rather than the retail investors why risky assets are the ones that could increase 10,000x whether the future of crypto is multichain or not how developers signal what ecosystem is going to win in the next expansion cycle whether Cobie thinks staking is dying how Chris judges market bottoms and tops what lessons Cobie and Chris have learned from their mistakes what innovations will catalyze the next bull cycle what needs to happen in the future for crypto to succeed Thank you to our sponsors! Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021 Cross River Bank: https://crossriver.com/crypto Beefy Finance: https://beefy.finance Episode Links Cobie Twitter: https://twitter.com/cobie UpOnlyTv: https://uponly.tv/ Substack: https://cobie.substack.com/ L1 trading: https://cobie.substack.com/p/trading-the-metagame?s=r Death of staking: https://cobie.substack.com/p/apecoin-and-the-death-of-staking?s=r Token unlocks: https://cobie.substack.com/p/on-the-meme-of-market-caps-and-unlocks?s=r Cycle Tweets: Why “the next cycle” reasoning scares him https://twitter.com/cobie/status/1524965475813568512 What projects will survive the bear https://twitter.com/cobie/status/1469253171885318146 His call to “buy” on March 12 2020 https://twitter.com/cobie/status/1238282793244860417 Which VCs will win https://twitter.com/cobie/status/1515667977118826500 Chris Burniske LinkedIn https://www.linkedin.com/in/burniske/ Twitter https://twitter.com/cburniske Previous Unchained episode https://unchainedpodcast.com/chris-burniske-a-blank-slate-of-state/ https://unchainedpodcast.com/chris-burniske-of-placeholder-on-the-downsides-of-icos/ https://unchainedpodcast.com/want-to-diversify-your-portfolio-try-bitcoin-say-arks-chris-burniske-and-coinbases-adam-white/ https://unchainedpodcast.com/how-to-value-a-crypto-asset/ Cycle Tweets Feb 2022 bear call https://twitter.com/cburniske/status/1495468570708426754 March 2022 bear call https://twitter.com/cburniske/status/1523021991619428352 November 2021 top call https://twitter.com/cburniske/status/1457884538806308868 DCA advice https://twitter.com/cburniske/status/1525906152881459200 https://twitter.com/cburniske/status/1500593438433021952 What could knock the market further down https://twitter.com/cburniske/status/1525157945079496705 https://twitter.com/cburniske/status/1524260987787902978 2017 ATH calls https://twitter.com/cburniske/status/1524838447784947712 https://twitter.com/cburniske/status/1524524188366635008 Trying to time the bottom https://twitter.com/cburniske/status/1523573129431240710 Chris x Cobie Luna https://twitter.com/cburniske/status/1524280637431164929 Feeling sorry for people who have lost $ https://twitter.com/cburniske/status/1524267901456248832 Bear Market Content Dragonfly https://medium.com/dragonfly-research/to-all-dragonfly-founders-and-friends-1a65e68093d4 Sequoia advice https://twitter.com/michellebailhe/status/1526373376142348288 Arthur Hayes buying BTC at $20K in wake of Terra https://entrepreneurshandbook.co/luna-brothers-inc-712ec5abe199 Financial comeuppance https://cryptohayes.medium.com/annihilation-4effdaf3c73f Paradigm (surviving crypto cycles) https://www.paradigm.xyz/2021/03/surviving-crypto-cycles Zhu Su on being a better role model for retail https://twitter.com/zhusu/status/1525045033216397312 Nick Tomaino on stopping relentless shilling https://twitter.com/NTmoney/status/1525234408910987264 Lot's of talk about “suicide” in context of LUNA https://bitcoinist.com/luna-investors-suicidal-after-cryptos-collapse/ Helping smaller LUNA wallets first https://twitter.com/VitalikButerin/status/1525561624974700545 Punk6529 on surviving the bear market https://twitter.com/punk6529/status/1525565876711444484 Ian from Syndicate DAO on previous cycles https://twitter.com/ianDAOs/status/1524613312582799360 Best website for looking at token performance https://cryptorank.io/performance Chris Burniske: Twitter: https://twitter.com/cburniske Placeholder VC: https://www.placeholder.vc/ Previous Unchained Coverage on Terra Nic Carter, Erik Voorhees, and Eric Wall on the collapse of UST https://unchainedpodcast.com/why-terra-collapsed-and-whether-an-algo-stablecoin-can-ever-succeed/ Do Kwon on backing UST with BTC https://unchainedpodcast.com/do-kwon-is-backing-ust-with-bitcoin-and-heres-what-else-he-is-building/ Kevin Zhou on the risk of UST's death spiral https://unchainedpodcast.com/heres-why-usdn-depegged-from-the-dollar-and-why-ust-might-too/ Jon Wu on how Terra got depegged: https://unchainedpodcast.com/did-someone-deliberately-attack-terra-luna-to-kick-off-a-death-spiral/ Do Kwon on The Chopping Block https://www.youtube.com/watch?v=0xl8u7-KVwM
This episode is sponsored by Nexo, Arculus, FTX US and MELD.com. On this edition of “Long Reads Sunday," NLW reads three threads: Justin Kan on why NFTs are a better business model for games RAC on what NFT skeptics should know Chris Burniske on the 2022 crypto outlook - Nexo is a powerful, all-in-one crypto platform where you can securely store your crypto. Invest, borrow, exchange and earn up to 18% APR on Bitcoin and 20+ other top coins. Insured for $375M. Audited in real-time by Armanino. Rated excellent on Trustpilot. Get started today at nexo.io. - Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer, and more secure solution to store, send, receive, buy, and swap your crypto. Buy now at getarculus.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - MELD is building the first-ever decentralized, non-custodial crypto to fiat lending and borrowing solution that will allow its users to lend and borrow both crypto and fiat currencies seamlessly. Users can stake MELD directly on the MELDapp, which will allow for governance voting for new protocol improvements, insuring the protocol, and earning up to 15% APY in MELD rewards. Start using MELD today at app.meld.com. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Vision” by OBOY. Image credit: Paul Yeung/Bloomberg via Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
A sample of the most interesting threads from Crypto Twitter. This episode is sponsored by Nexo, Arculus, FTX US and MELD.com.On this edition of “Long Reads Sunday," NLW reads three threads:Justin Kan on why NFTs are a better business model for games RAC on what NFT skeptics should know Chris Burniske on the 2022 crypto outlook -Nexo is a powerful, all-in-one crypto platform where you can securely store your crypto. Invest, borrow, exchange and earn up to 18% APR on Bitcoin and 20+ other top coins. Insured for $375M. Audited in real-time by Armanino. Rated excellent on Trustpilot. Get started today at nexo.io.-Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer, and more secure solution to store, send, receive, buy, and swap your crypto. Buy now at getarculus.com.-FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today.-MELD is building the first-ever decentralized, non-custodial crypto to fiat lending and borrowing solution that will allow its users to lend and borrow both crypto and fiat currencies seamlessly. Users can stake MELD directly on the MELDapp, which will allow for governance voting for new protocol improvements, insuring the protocol, and earning up to 15% APY in MELD rewards. Start using MELD today at app.meld.com.-“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Vision” by OBOY. Image credit: Paul Yeung/Bloomberg via Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
In our 6th episode, our co-founder Ori (@oritheorca) welcomes Placeholder Partner Chris Burniske (@cburniske) onto the show to talk about what they've each learned about how to structure a fair, human-centered fundraise.
Bankless Podcast Notes Key Takeaways Price in the future today – the future is closer than you think.Institutions keep looking backwards to support their investments rather than towards the future. Retail investors could be rewarded for their forward-thinking approachMany industries are approaching a sweet spot in their innovation S-curveARK predicts $100 trillion dollars will be globally committed to innovation in the next 5-10 yearsMost investors have never seen exponential growth – creates an “allergic reaction” to innovationARK invests in 5 main tech categories: Genomics, Artificial Intelligence, Robotics, Energy Storage, and BlockchainCrypto is symptomatic of an imminent explosion in innovationDue to the open-source nature of crypto, the wealth of data accumulated can be incredibly valuable to growth assessment and adoptionIt's politically neutral, transcends borders, and is a new mechanism for global economic activityCrypto's openness and competitiveness drives down costs which entices private sectors to adapt for increased profitability with the removal of banks from business processesWith open networks, you can not hide inefficiencies“Follow the developers”– Cathie WoodWhile Cathie references the rapid utilization of Ethereum in the NFT marketplace in this quote, this is a great thing to observe in all innovation spaces“Ethereum is a new capitol coordination system, which is a powerful lens”– Chris BurniskeEther can guarantee a yield and risk-free rate through proof of stakeCathie will be studying earnings season closely to understand if banks are searching elsewhere for untraditional yields like cryptoCathie, Yassine, and Chris also give their thoughts on what's next in the world of CryptoRead the full notes @ podcastnotes.orgCathie Wood is Founder, CEO and CIO of Ark Invest, the investment management firm specializing in disruptive sectors. Yassine Elmandjra is an analyst at Ark, and Chris Burniske is the former blockchain lead at Ark and is now a partner at Placeholder VC. We're incredibly excited to bring Cathie on the podcast for her industry-leading insights and perspective on the innovative investing space. The thesis is simple: invest in the future. As a society, we are entering a new age of exponential and unprecedented growth, afforded by compounding technological advancements and a turning point of innovation. Ark Invest is poised to capitalize on these opportunities and has eyed cryptoassets as an important vehicle for this substantial, societal change. Dive in and learn about Wright's Law, managing haters, Ark's thoughts on the triple point asset, and DeFi. ✨ GET THE EXCLUSIVE DEBRIEF ✨ https://shows.banklesshq.com/p/exclusive-debrief-investing-in-the ------
Cathie Wood is Founder, CEO and CIO of Ark Invest, the investment management firm specializing in disruptive sectors. Yassine Elmandjra is an analyst at Ark, and Chris Burniske is the former blockchain lead at Ark and is now a partner at Placeholder VC. We're incredibly excited to bring Cathie on the podcast for her industry-leading insights and perspective on the innovative investing space. The thesis is simple: invest in the future. As a society, we are entering a new age of exponential and unprecedented growth, afforded by compounding technological advancements and a turning point of innovation. Ark Invest is poised to capitalize on these opportunities and has eyed cryptoassets as an important vehicle for this substantial, societal change. Dive in and learn about Wright's Law, managing haters, Ark's thoughts on the triple point asset, and DeFi. ✨ GET THE EXCLUSIVE DEBRIEF ✨ https://shows.banklesshq.com/p/exclusive-debrief-investing-in-the ------
DeFi Dad is a decentralized finance educator, investor and super-user who, in 2017, fell deep into the crypto rabbit hole after reading Chris Burniske's Cryptoassets and listening to countless episodes of Laura Shin's Unchained Podcast. Later that year, he saved invested $600 to attend Ethereal San Francisco, and by July 2018, DeFi Dad was working full-time in Ethereum. -- Our "OG Fan" NFT is here! There will only ever be one of this version... and you can be the owner! https://opensea.io/collection/show-me-the-crypto/ -- Follow DeFi Dad on Twitter: @DeFi_Dad Check out DeFi Dad's "DeFi for Beginners" YouTube Playlist: https://youtube.com/playlist?list=PLNzMl-Xdbc4Z6C-BEEvvzTACtPGpc9Mdd -- Follow us on the socials: Twitter: @showcrypto TikTok: @showmethecrypto Instagram: @showmethecryptopodcast
Chris Burniske is a co-founder of Placeholder, a New York venture firm that specializes in cryptoassets, and co-author of the book, Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond. He joins us to talk about crypto's past, and the implications that has for its future. ––– LUKKA Lukka Prime is crypto asset pricing data aligned to accounting standards like GAAP and IFRS. Lukka Prime Pricing Data is the pricing source used by S&P Dow Jones Indices' for their new cryptocurrency indices. Lukka Prime is the world's first fair market value pricing source for crypto assets and the best option for all post-trade reporting needs. Visit lukka.tech/empire to learn more. ––– Get unparalleled access to the greatest minds in macro at Blockworks' three day, executive summit in Bretton Woods. August 11 - 13. Apply to attend today! https://blockworks.co/brettonwoods/empire --- Empire is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like Empire, visit http://blockworks.co/podcasts. Follow me on Twitter @JasonYanowitz and let me know what you thought of the show!
Joel Monegro is a partner at Placeholder VC, where he invests in decentralized networks and companies that democratize data, wealth, and power. ------
With the value of all bitcoins issued surpassing the $1T mark for the first time, independent registered investment advisor Tyrone Ross digs into the seemingly ubiquitous, yet dubious metric. In this episode we explore more illuminating alternatives including “free float market cap”, “realized capitalization,” “MVRV, stock-to-flow,” network value to transactions ratio” and more.A message from Tyrone:The greatest number of people living in poverty are children, we need to change that. If you can, get involved and give back to NoKidHungry.org. Love and Light. I appreciate you!Resources: Cryptoassets by Chris Burniske and Jack TatarCoinMetrics State of the Network NewsletterPlan B's 'stock-to-flow'Willy Woo's NVT
My guest today is Chris Burniske, Co-founder of Placeholder, a New York venture capital firm that specializes in crypto-assets. Prior to Placeholder, Chris pioneered ARK Investment Management's Next Generation Internet strategy, leading the firm to become the first public fund manager to invest in bitcoin. Our wide-ranging conversation covers Satoshi Nakamoto & and try to understand why they decided to leave the crypto-space, what is the flow state and how to master it, ZCash and their unique privacy features, and how Ethereum’s perception within crypto evolved over time and the ignorance of Bitcoin maximalists. I hope you enjoy and learn from this conversation as much as I did. --- ELECTRONEUM Electroneum, has gained widespread adoption providing a mobile-first payment solution to the world's unbanked, attracting more than 4M users worldwide in less than three years. They have since launched a new freelance marketplace, AnyTask.com, which is providing thousands of freelancers the opportunity to sell their services to buyers globally, without the need of a bank account. Learn more at Electroneum.com. ––– This podcast is powered by BlockWorks Group. For exclusive content and events that provide insights into the crypto and blockchain space, visit them at https://blockworksgroup.io
My guest today is Chris Burniske, Co-founder of Placeholder, a New York venture capital firm that specializes in crypto-assets. Prior to Placeholder, Chris pioneered ARK Investment Management's Next Generation Internet strategy, leading the firm to become the first public fund manager to invest in bitcoin. Our wide-ranging conversation covers Satoshi Nakamoto & and try to understand why they decided to leave the crypto-space, what is the flow state and how to master it, ZCash and their unique privacy features, and how Ethereum’s perception within crypto evolved over time and the ignorance of Bitcoin maximalists. I hope you enjoy and learn from this conversation as much as I did. --- ELECTRONEUM Electroneum, has gained widespread adoption providing a mobile-first payment solution to the world's unbanked, attracting more than 4M users worldwide in less than three years. They have since launched a new freelance marketplace, AnyTask.com, which is providing thousands of freelancers the opportunity to sell their services to buyers globally, without the need of a bank account. Learn more at Electroneum.com. ––– This podcast is powered by BlockWorks Group. For exclusive content and events that provide insights into the crypto and blockchain space, visit them at https://blockworksgroup.io
Learn about the history and value of bitcoin. Have you ever wanted to learn about bitcoin? Whether you’re interested in getting creative with your investments or you’d just like to expand your financial knowledge, Cryptoassets (2017) is the book for you! By charting the history, value, and usage of bitcoin, Cryptoassets can provide you with an actionable guide for investing in bitcoin. *** Do you want more free audiobook summaries like this? Download our app for free at QuickRead.com/App and get access to hundreds of free book and audiobook summaries.
Episode: #20 July 6, 2020 We sit down in this episode with Chris Burniske to talk about crypto, DeFi, and the Ethereum opportunity. Why are we here? How will crypto make the world better? Where are we going next? Oh...and is ETH money? Chris has the incredible ability to drill deep into intricate analysis one moment then zoom out across history to tell us what is means for the future of humanity. Enjoy this conversation with our favorite crypto analyst-philosopher. We cover: Evolution of token valuations Fixing the inequality of capital Is DeFi a better system for the world? Balancer as a case study Have his views on governance changed? Tribalism! The reason we're here Going west toward the Infinite Whitespace The Ethereum opportunity! Bullish ETH? Chris's next book Join us next Monday for a fresh episode! ----- Tools from our sponsors to go bankless: Rocket Dollar - tax shelter your crypto ($50 w/ "BANKLESS") Ramp - the fiat onramp for DeFi (mention Bankless!) Monolith - holy grail of bankless Visa cards Aave - money lego for lending & borrowing ----- Resources discussed: Read our favorite writings by Chris: A Superior Financial System The Likely Fate of Ethereum Killers Protocols As Minimally Extractive Coordinators Value Capture & Quantification: Cryptocapital vs Cryptocommodities Cryptonetworks Are Not Companies Follow Chris on Twitter Listen to Chris Read "A Blank State of Slate" Check out Crypto Assets Book ----- Episode Actions: Read our favorite articles from Chris (see above) Listen to episode 4 on ETH as a Triple Point Asset Subscribe to State of the Nation on YouTube! Also...subscribe to Bankless YouTube to watch State of the Nation every Tuesday. ----- Chris Burniske is a partner at Placeholder, a New York venture firm that invests in decentralized information networks. Prior to Placeholder, he co-authored, Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond, and spearheaded ARK Investment Management’s crypto efforts, including its 2015 bitcoin investment. His commentary has been featured on national media outlets, including the Wall Street Journal, New York Times, Financial Times, and Bloomberg. Twitter @cburniske. ----- Subscribe to podcast on iTunes | Spotify | YouTube | RSS Feed Leave a review on iTunes Share the episode with someone you know! ----- Don't stop at the podcast! Subscribe to the Bankless newsletter program Watch Bankless shows and tutorials on YouTube Visit official Bankless website for resources Follow Bankless on Twitter Follow Ryan on Twitter Follow David on Twitter ----- Not financial or tax advice. This podcast is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Do your own research.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
For complete show notes and for the full premium experience with video, visit our YouTube channel at CryptoNewsAlerts.net Placeholder Capital partner Chris Burniske says he believes a new Bitcoin bull cycle will bring the BTC price to at least $50,000. Burniske says the prediction is designed to account for Bitcoin’s historic pattern of posting diminishing returns for each subsequent bull run. “Why Bitcoin $50,000? As discussed in May 2019, if BTC is half as volatile in this cycle as it was in the last, we would still expect it to cross $50K and $1 trillion in network value. $1 trillion has been a long time coming for this macro-asset.”
Interview location : Hawaii Interview date : Tuesday 28th April, 2020 Company : Place Holder Role : Managing Partner Placeholder is a crypto venture capital partnership based in New York City with over $150 million in committed capital under management. Placeholder believes cryptonetworks will change the structure of global markets to counteract global inequality by decentralizing access to data, wealth and power. https://www.placeholder.vc If you enjoy Decred in Depth you can help support the show by : - Subscribing - Share the show and episodes with your family and friends Decred is an autonomous digital currency. With a hybrid consensus system, it is built to be a decentralized, sustainable, and self-ruling currency where stakeholders make the rules. Join the Decred community! Decred: https://decred.org Twitter: https://twitter.com/decredproject Reddit: https://www.reddit.com/r/decred Facebook : https://www.facebook.com/decredproject
Our guest for this week's episode is Nic Carter, Partner at Castle Island Ventures and Cofounder of Coinmetrics.io. In this episode, we dive deep into some of Nic's current cryptocurrency obsessions. We start off covering the history of Bitcoin's predecessors, leading to an interesting realization that the crypto industry today may be forgetting the lessons drawn from previous attempts to create a private money. We then shift the conversation to stablecoins and the implications of their continued growth. In doing so, we highlight that stablecoins today are virtually no different than reserve-backed currencies of the past. We end the conversation on an interesting theory that, contrary to popular belief, crypto may actually be good for the dollar. We explore different cases of dollarization and the heterogenous mechanisms by which they've emerged. Tune in for all of that and more! “Bitcoin is sufficiently decentralized so far that it's avoided this kind of key man risk – the ability for the government to raid the offices of someone somewhere and shut the system down.” “You could store a billion dollars' worth of Bitcoin in a single unit public-private key pair. This allows for extremely strong ownership, especially in countries where the banking system doesn't work very well.” Key Points From This Episode: How Nic became Fidelity's crypto analyst after a brainstorm with former ARK analyst Chris Burniske. Bitcoin's most underappreciated property: ‘auditability' The birth of Coinmetrics Anonymity, reliability, and the distinction between digital cash and electronic money. Bitcoin is the culmination of disparate prior technologies. A history of Bitcoin's ideological predecessors: E-Gold and Liberty Reserve. The fundamental role centralization played in Bitcoins predecessors' downfalls. The appeal of fiat-backed stablecoins. Why it is unlikely that Ethereum will unseat Bitcoin, and Libra's loud ploy to overthrow centralized currency. Dollarization: benefits, adoption patterns, and how successful iterations are bottom up. Why crypto is potentially good for the dollar due to the dollar's desirability. How credibility, not just technology, affects the adoption of new payment systems. The benefits of seedless mobile wallet setups.
In this essay, Chris Burniske of Placeholder Capital talks about what kind of world crypto entrepreneurs are creating and want to be creating with the systems they build. He talks about different kinds of values, the dangers of only pursuing market values, and why crypto has a unique opportunity now to recalibrate those market values and incorporate more of the societal virtues we hold dear. Then he dives into which values he hopes to imbue into crypto networks and how that informs his thinking as a VC in the space. Thank you to our sponsors! CipherTrace: https://ciphertrace.com Crypto.com: https://crypto.com/ Kraken: https://www.kraken.com
In this essay, Chris Burniske of Placeholder Capital talks about what kind of world crypto entrepreneurs are creating and want to be creating with the systems they build. He talks about different kinds of values, the dangers of only pursuing market values, and why crypto has a unique opportunity now to recalibrate those market values and incorporate more of the societal virtues we hold dear. Then he dives into which values he hopes to imbue into crypto networks and how that informs his thinking as a VC in the space. Thank you to our sponsors! CipherTrace: https://ciphertrace.com Crypto.com: https://crypto.com/ Kraken: https://www.kraken.com
On the EthHub Weekly Recap we cover topics from the EthHub Weekly Newsletter. In this episode we discuss the impending Istanbul hard fork, Eric’s “Ultimate Guide to ENS Names”, RBC is rumored to be launched a crypto exchange, Maker’s Multi-Collateral Dai launches, Compound raises $25mn in Series A round, UMA develops an actual shitcoin in SF and Chris Burniske’s thread on ETH as a SoV and money. Support our show by donating funds to ethhub.eth! Buy EthHub Merch Get on the email list at ethhub.substack.com
On the EthHub Weekly Recap we cover topics from the EthHub Weekly Newsletter. In this episode we discuss our time at DevCon 5, CFTC chairman says ETH is a commodity, Bermuda accepts USDC for taxes, China starts to embrace blockchain, Vitalik writes a lot of eth2 research posts, Maker gives multi-collateral Dai a launch date, Uniswap and Plasma Group team up, Istanbul fork on December 4th and Chris Burniske’s post on “Ethereum killers”. Support our show! Buy EthHub Merch Get on the email list at ethhub.substack.com
Hunter Horsley, cofounder and CEO of Bitwise Asset Management, and Matt Hougan, global head of research at Bitwise, describe their vision for Bitwise, its current funds and indices, as well as how it handles things like forks and airdrops. Then they give their reaction to and interpretation of the SEC disapproval of their Bitcoin ETF proposal, as well as what their focus will be now to try to get a Bitcoin ETF approved. We also discuss their general thesis around how the crypto space will develop, whether or not indices and funds around the top 100 assets will ever make sense, their ideas on how to value these networks and whether or not the company would ever try to compete in the DeFi space. Plus, don't miss our conversation on Bitcoin IRAs. Thank you to our sponsors! Crypto.com: http://crypto.com/ Kraken: https://kraken.com CipherTrace: https://ciphertrace.com/unchained Episode links: Bitwise: https://www.bitwiseinvestments.com/ Hunter Horsley: https://twitter.com/HHorsley Matt Hougan: https://twitter.com/Matt_Hougan Unchained interview with Spencer Bogart: https://unchainedpodcast.com/spencer-bogart-on-the-20-trillion-in-store-of-value-assets/ Bitwise 10 Private Fund fact sheet: https://static.bitwiseinvestments.com/FactSheet/bitwise10/Bitwise-10-Private-Index-Fund-Investor-Class-Fact-Sheet.pdf Bitwise 10 Offshore Index Fund: https://static.bitwiseinvestments.com/FactSheet/bitwise10-offshore/Bitwise-10-Index-Offshore-Fund-Investor-Fact-Sheet.pdf Grayscale Bitcoin Investment Trust: https://grayscale.co/bitcoin-trust/ Bitwise Ethereum Fund: https://static.bitwiseinvestments.com/FactSheet/ethereumFund/Bitwise-Ethereum-Fund-Investor-Class-Fact-Sheet.pdf SEC order disapproving the Bitwise Bitcoin ETF proposal: https://www.sec.gov/rules/sro/nysearca/2019/34-87267.pdf Matt on CNBC discussing the Bitcoin ETF proposal: https://twitter.com/CNBC/status/1181309471349526530?s=20 Bitstamp/BitMEX trading manipulation: https://twitter.com/DoveyWan/status/1129246233917382656 Jake Chervinsky’s tweet about how the SEC is unlikely to approve a Bitcoin ETF under Chair Jay Clayton: https://twitter.com/jchervinsky/status/1182149164177608704?s=20 Unchained interview with Jake: https://unchainedpodcast.com/all-things-crypto-regulation-with-jake-chervinsky/ SEC commissioner Hester Peirce’s dissent to the disapproval of the Winklevoss Bitcoin ETF: https://www.sec.gov/news/public-statement/peirce-dissent-34-83723 Van Eck’s withdrawal of the Bitcoin ETF proposal: https://www.coindesk.com/vaneck-solidx-withdraw-bitcoin-etf-proposal-from-sec-review Chris Burniske on how to value these networks: https://unchainedpodcast.com/how-to-value-a-crypto-asset/
Hunter Horsley, cofounder and CEO of Bitwise Asset Management, and Matt Hougan, global head of research at Bitwise, describe their vision for Bitwise, its current funds and indices, as well as how it handles things like forks and airdrops. Then they give their reaction to and interpretation of the SEC disapproval of their Bitcoin ETF proposal, as well as what their focus will be now to try to get a Bitcoin ETF approved. We also discuss their general thesis around how the crypto space will develop, whether or not indices and funds around the top 100 assets will ever make sense, their ideas on how to value these networks and whether or not the company would ever try to compete in the DeFi space. Plus, don't miss our conversation on Bitcoin IRAs. Thank you to our sponsors! Crypto.com: http://crypto.com/ Kraken: https://kraken.com CipherTrace: https://ciphertrace.com/unchained Episode links: Bitwise: https://www.bitwiseinvestments.com/ Hunter Horsley: https://twitter.com/HHorsley Matt Hougan: https://twitter.com/Matt_Hougan Unchained interview with Spencer Bogart: https://unchainedpodcast.com/spencer-bogart-on-the-20-trillion-in-store-of-value-assets/ Bitwise 10 Private Fund fact sheet: https://static.bitwiseinvestments.com/FactSheet/bitwise10/Bitwise-10-Private-Index-Fund-Investor-Class-Fact-Sheet.pdf Bitwise 10 Offshore Index Fund: https://static.bitwiseinvestments.com/FactSheet/bitwise10-offshore/Bitwise-10-Index-Offshore-Fund-Investor-Fact-Sheet.pdf Grayscale Bitcoin Investment Trust: https://grayscale.co/bitcoin-trust/ Bitwise Ethereum Fund: https://static.bitwiseinvestments.com/FactSheet/ethereumFund/Bitwise-Ethereum-Fund-Investor-Class-Fact-Sheet.pdf SEC order disapproving the Bitwise Bitcoin ETF proposal: https://www.sec.gov/rules/sro/nysearca/2019/34-87267.pdf Matt on CNBC discussing the Bitcoin ETF proposal: https://twitter.com/CNBC/status/1181309471349526530?s=20 Bitstamp/BitMEX trading manipulation: https://twitter.com/DoveyWan/status/1129246233917382656 Jake Chervinsky's tweet about how the SEC is unlikely to approve a Bitcoin ETF under Chair Jay Clayton: https://twitter.com/jchervinsky/status/1182149164177608704?s=20 Unchained interview with Jake: https://unchainedpodcast.com/all-things-crypto-regulation-with-jake-chervinsky/ SEC commissioner Hester Peirce's dissent to the disapproval of the Winklevoss Bitcoin ETF: https://www.sec.gov/news/public-statement/peirce-dissent-34-83723 Van Eck's withdrawal of the Bitcoin ETF proposal: https://www.coindesk.com/vaneck-solidx-withdraw-bitcoin-etf-proposal-from-sec-review Chris Burniske on how to value these networks: https://unchainedpodcast.com/how-to-value-a-crypto-asset/
Ryan interviews Chris Burniske, a partner at Placeholder. -----This episode is sponsored by Voyager, a fast and 100% commission-free app that lets you trade more than 20 top cryptocurrencies. Sign up at investvoyager.com/messari to earn $25 in free Bitcoin when you download the Voyager iOS app and create an account. -----If you enjoyed this conversation, share it with your colleagues & friends, rate, review, and subscribe.This podcast is presented by BlockWorks Group. For exclusive content and events that provide insights into the crypto and blockchain space, visit them at: https://www.blockworksgroup.io
On the EthHub Weekly Recap we cover topics from the EthHub Weekly Newsletter. In this episode we discuss EIP-2025 and thoughts on block reward funding, Anthony and Eric going to Berlin for DappCon and ETHBerlin, Circle moving to Bermuda for Poloniex, Microsoft to use Ethereum for machine learning, pooling cDai to earn interest with ERC-2212, Coinbase starts to educate users about DeFi with Maker CDPs and Chris Burniske’s new metic “Network Value to Token Value” in an attempt to value smart contract platforms. Support our show! Buy EthHub Merch Get on the email list at ethhub.substack.com
Chris Burniske is a partner at Placeholder VC, a crypto venture capital partnership based in New York City with over $150 million in committed capital under management. He is also the Co-Author of "Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond."
This time I have Tory Reiss, co-founder of the TrustToken Asset Tokenization Platform. Tory shares how their company was bootstrapped, raised capital from elite VCs and launched one of the biggest regulated stablecoins - the TrueUSD. Recently they also launched the TrueGBP. Tory and I talk about the ways in which you can use TrueUSD to easily transact internationally or to simply earn passive income with the interest-earning product of Nexo. Among many other things Tory also explains: How fiat-pegged stablecoins can replace traditional digital money; What sets TrueUSD apart from all other stablecoins; How to convert your USD into TUSD; What is the business model of TUSD; Why Tory sees MakerDAO and DAI as a partner instead of a competitor; How TUSD combats money laundering. This was a conversation that sparked me to think even more about the importance and stablecoins and how are accelerating the removal of existing financial borders. Tory's Contacts: https://www.trusttoken.com TrustToken - https://twitter.com/TrustToken Tory Reiss - https://twitter.com/theetory Evangelists who converted Tory into crypto: Satoshi Nakamoto and the Bitcoin White Paper Leaders Tory continues to learn from: Arjun Balaji, https://twitter.com/arjunblj “Cryptoassets The Innovative Investor's Guide to Bitcoin and Beyond” by Chris Burniske and Jack Tatar Feel free to message me, George, on Twitter @borderlessBTC Full Episode Transcript (01:52) George Manolov: Tory, I'm happy to have you today on the show. For everybody else; Tory Reiss is the co-founder of the TrustToken Tokenization Platform, which has been renowned for launching one of the biggest USD-backed stablecoins. But before we dive deeper into TrueUSD and the Trust Tokenization Platform, can you share a little bit about yourself, your personal professional path and how did you end up in the crypto space working on one of the biggest USD-backed stablecoins? (02:31) Tory Reiss: Absolutely. My background is a good example of that you don't have to stay in one area or define yourself too narrowly, because whatever you're really curious about, you can learn almost anything online. The Internet has made learning simple; you can be a lifelong learner. If you look at my path, I went to school in Chicago and, and my studies revolved around entrepreneurship, international studies, behavioral economics, and neuroscience. All these topics that really have nothing to do with finance whatsoever. I started my career in enterprise software. So, the first two companies I worked for were very focused on B2B enterprise software. The first being Microsoft, where I spent a good chunk of my early career. And the second being a startup in San Francisco called Lob that was also selling APIs to the Enterprise. I caught the crypto bug towards the end of college when I first started buying Bitcoin. Obviously once you have bitcoin, you follow the industry news over time. I saw how it was evolving and I was really excited about it, but I didn't really make the move into the crypto space or working in it full time until I saw what happened with Ethereum. In a way, the world was changing in terms of gaining a global compute layer or a global database layer that we could work on from virtually any country. It represented a paradigm shift in computing that I thought was very exciting, and particularly as it relates to finance. I'd always had a fascination with personal finance and financial technology. So, this company ended up being the perfect intersection of all those interests. We started working on what is now TrustToken in 2017 and then in 2018, we launched TrueUSD. (04:47) George Manolov: What was the thought process of starting a company that is to tokenize other assets? Did you first come up with; Hey, let's tokenize the US dollar? Walk me through that process of how did you come up with the idea. (05:06) Tory Reiss: It's a great question. At that time, when we saw what was happening with Ethereum and the ICO boom of 2017, what became apparent when we took a step back was that there was a new financial system emerging on the Blockchain. We saw exchanges, OTC desks, new forms of derivatives and lending products. We saw it cropping up everywhere. So, we did this exercise where we looked at traditional markets and tried to think of parallels in what would change in this new paradigm. The first thing we observed when we looked at Nasdaq or other traditional exchanges is that the majority of the value represented on those exchanges are hard assets such as real estate, commodities, etc. So, following that chain of thought, we thought, if Ethereum was going to be running the world's most important computations and many of those relate to financial services, there's going to be a need for a way to legally and technically represent real world assets on the Blockchain. And following that chain of logic, we thought what asset or what financial instrument which is the most well understood and widely adopted instrument in the world? And it was pretty clear at that time that it was the US dollar. We thought; this is going to be a great proof of concept, that if we can prove to the world this idea of representing a dollar on the Blockchain, then we could represent any asset. We saw it as a first step in just proving out the thesis that we could represent real world assets on the blockchain. (07:06) George Manolov: Alright. In terms of company building, what was the process? Because I know that you have raised capital from some of the top investors in Silicon Valley. So, did you first launch some sort of MVP? Did you have something prepared or in the running? or was it straight raising capital and then building it? (07:31) Tory Reiss: I think people should know that the reality of startups is way messier than they appear from the outside. This company started in a totally different space. We pivoted into Blockchain and it was very painful in the beginning. We didn't have many resources. Over a year ago, there was just five of us working away and we didn't really have a chance to have an MVP because as soon as our product would go live, it meant that basically anyone in the world could use it. So, we just put together all of the pieces, it was very much what I would call MacGyver, in the sense that we took a lot of toothpicks and bubble gum in the beginning, like a lot of manual processes and a lot of hard work behind the scenes to get our first version of TrueUSD out of the door. With that being said, the most important things are security and compliance. So, even if there were lots of manual processes for us on the backend in terms of how we interact with the banks or how we interact with our users, we still had to make sure that we had world class security and world class bank-grade compliance. We couldn't skimp on those, which was very tough. That was our biggest investment area early on. We started in the same way as most other startups; we were literally working out of the same house that we were living in. It was both office and where we lived. Once we had our product out of the door and we had traction, it then became a lot easier to raise capital. Today, we have thirty-one people, both here and in Asia, and a great office here in Selma. But it's not easy; you might be sleeping on a couch for a year or two before you actually get traction and have enough capital to move into your own space. (09:57) George Manolov: But then it's totally worth it, because you start building something big and TrueUSD is already quite big. If I'm not mistaken, it's the second largest USD-backed stablecoin after the notorious Tether. So, can you share a little more about TrueUSD? You say it's the most obvious asset to tokenize, but why so? What are the needs that TrueUSD solves and how do people use it? What deficiencies does TrueUSD solve? (10:41) Tory Reiss: That's another good question. At the time, we thought it was a great move because anyone anywhere in the world knows what a US dollar is, almost anywhere. I shouldn't say 100%, but most places in the world recognize and accept the US dollar. That was our logic at the time, that okay, if we tokenize that, then we don't have to explain what the token is, because it's essentially a dollar and people understand what a dollar is. What we only realized after, was that the product we created was far more useful than we originally imagined. The first use case for a USD-backed stablecoin was trading. Traders were using it because they could only trade crypto to crypto and they needed a stable store of value during volatile markets. Now, in the grand scheme of things, that's just a tiny use case. And by tiny, it's still a multi-billion-dollar market today. It's still about $3 billion in market, but it's still relatively small. What we've learned over time is that, the market beyond trading and beyond crypto is massive, because what we've actually created is a new payment rail. What's very important is that we've helped increase the velocity of money, the velocity of capital, and we've offered an alternative way to move value that's outside of the control of the traditional banking system. Traditional banks, which have been the gatekeepers for time immemorial, have been able to charge whatever fees they want on FX which is conversion between multiple currencies. Or if you want to move money internationally, they pretty much set the terms. But with TrueUSD, if you want to send money to anyone, anywhere in the world, you can do so in a matter of seconds and pay about 2 cents on average, which is the transaction fee on Ethereum. In many ways, it’s really a very powerful tool, because capital can now be moved more efficiently. If you're a lender, you can raise money in the US and deploy it in Indonesia the same day, that's never been possible. Or if you're doing remittances. The applications are so broad across financial services that we're now thinking much more broadly about how this technology can be applied. We're also going to be adding many more currencies to our offerings. And we think that this is just the start, currency is just the start. (13:40) George Manolov: That makes total sense. I've been thinking about the same thing, when a crypto equivalent of a currency, like a crypto US dollar, has so many advantages over the traditional US dollar. As you said, you can send it very cheaply and very fast locally and internationally. In regards to that train of thought, and specifically since you're saying you're going to be tokenizing more of the currencies out there, do you think that, in the not so distant future, fiat currencies will be essentially some sort of stablecoins on the Blockchain? (14:26) Tory Reiss: First off, one of the common confusions is when people say "the Blockchain". I think the reason why it's worth pointing that out is that, I think that there will be multiple blockchains, for better or for worse. J.P. Morgan, for example, has illustrated that their coin will be on a private blockchain. So, technically that's on, quote unquote, the Blockchain or a blockchain, but it's not a public blockchain. I do believe that public blockchains are better than private ones, because they solve a larger problem that J.P. Morgan's chain won't solve, which is the visibility of the data. Right now, it's actually an incredibly powerful thing to be able to have those transactions be public. The perfect version now is a public blockchain that allows some amount of privacy. So, for example, if we have a use case with Microsoft or with an SAP customer that relates to how their customers move money for receivables or payments to publishers, which are real use cases that are being explored right now, they want privacy for those transactions, but they're okay with it being public for scenarios that aren't related to their affairs. I think that's where things like Zero-Knowledge Proofs such as zk-SNARKs can become really useful, because you can then have some transactions that are private and maybe only visible to let's say a company and its audit partner, like Ernst and Young, and then have the majority of other transactions between the general public remain on a public blockchain. That way, we can all rely on a single chain, but use different technologies to adjust the level of privacy. And I think that's more of what the future looks like, rather than today where only a few people have access to that data and they typically can't be trusted. Unfortunately, that's what history has shown us. (16:35) George Manolov: That is very interesting. Would people still have any motive or incentive to use traditional currencies? Or what would it become the standard for all currencies, especially when Ethereum introduces zero knowledge proofs? (17:13) Tory Reiss: I guess I didn't answer the original question. I do think that it's inevitable that, if not Blockchain, a similar technology will be standardized. Most people don't realize that most cash today is already digital, and I think this is just improving upon it. The benefit of a blockchain is that it acts as a shared database; it's one of the few technologies that people can have faith in and use as a shared database. And for that reason, it might be the earliest adopted technology for digital cash. I do think that within this year or at least within the next few years, we will start to see sovereign nations issue their currency on a blockchain. I can't say if the whole world will go that direction, but I do believe that some governments are going to make that decision and I think it's going to happen. (18:29) George Manolov: When it comes to the use cases of TrueUSD, like you said, you didn't understand when you initially started the size of TrueUSD when it comes to payments, do you have such data or knowledge that people are already using TrueUSD for remittances or for other purposes outside of trading? Or do you think that today the main use case for TrueUSD is still trading? (19:04) Tory Reiss: The majority is still trading. However, we know for a fact that it's being used now for a number of other use cases. For example, we know that there are companies right now that are paying their employees payroll in TrueUSD, and it makes perfect sense why that would be, because more and more often it's common that a company is distributed, remote or has teams around the world and it's incredibly expensive for an employer to use traditional payroll providers to pay employees all around the world, especially if you're a smaller business. Let's say you only have 50 or 100 employees; you don't have the resources of a multinational corporation to have bank accounts in every single country where you have employees. Paying in TrueUSD costs nothing, it's super easy and wherever they are, they will be able to convert that TrueUSD back to something that has a utility. We're working on making sure that everyone can use their TrueUSD in whatever way they want, whether that's spending on products through a debit card, which we think is an obvious next step, investing, saving and earning interest, lending the money out and getting loans, we want all of those services to be available and already a lot of that is happening. Even if you look at Nexo which just launched a fantastic product where any user of TrueUSD can deposit their coins with their full liquidity and no lockup, but they earn six and a half percent interest, which blows away the Fed funds rate of two and a half percent that we have here in the United States. This is a long way of saying that these use cases are already happening, whether it's individuals using it just to save and store money or send it, or it’s businesses paying employees or using it for remittances. We know because we've talked to our customers that these are happening, but what matters to us is that they might be early adopters. We need to figure out how to build software and make it easier for entire industries to adopt the technology. That hasn't happened yet, but that's what we're working towards. (21:23) George Manolov: How does it work today? I mean, what if we have somebody who's now listening and realizes, Hey, I want to start paying my employees with TrueUSD because they're international, or maybe I want to convert some USD to TrueUSD and deposit it on Nexo to earn 6.5 instead of 2%. How can I get TrueUSD? (21:50) Tory Reiss: That's a great question. Today, the easiest way to get TrueUSD is probably using our app, if you have US dollars. There are two main ways to get it today, and this is something that we're actually investing heavily in and we want to make it ten or a hundred times easier to get TrueUSD. Today, if you go to app.trusttoken.com which is our secure web application, that's where you can take dollars and convert them into TrueUSD. You can purchase one for one, there're no fees. You simply send a wire, we have the easiest book purchase and redemption process in the industry, you verify your identity and then you can make a purchase or redeem and get your dollars out at one for one, that's with dollars. If you're using crypto; right now, we're traded on almost a hundred exchanges. So, any number of our partners is good. We obviously have the most volume and liquidity in finance, but we work very closely with many other exchanges and are constantly adding new partners in that regard as well. So, depending on how you want to make the change, those tend to be the best ways. Businesses tend to use OTC desks, and we work with about 15 different OTC desks, so we're supported almost everywhere. But we're working on expanding the ways you can get TrueUSD and make it even easier. (23:23) George Manolov: And anyone can get TrueUSD, alright? I mean, whether you're obviously in the States or not. Do you have certain limitations or can anyone just use the app? What was the website? (23:34) Tory Reiss: app.trusttoken.com (23:36) George Manolov: Right. Anyone can go there and basically you wire funds from your bank account, right? (23:43) Tory Reiss: That's right. So, it's anyone with a bank account anywhere in the world. You don't even necessarily have to have US dollars, you can send the money and have your bank convert it, and then use the app to buy TrueUSD. We'll be launching additional currencies and support for crypto and purchasing with other currencies. All of that is coming, it's all in the pipeline. (24:12) George Manolov: With that in mind, it would be curious to learn more about how do you compare TrustToken to other stablecoins, because there is a ton of them right there. At some point, I thought they're growing like mushrooms, everyone is starting his own stablecoin. Seriously, sometimes I don't understand to be honest with myself, why so many people are involved in this space? There are big and small players, how do you compare the TrustToken to other fiat-backed stablecoins, and then obviously as well to algorithmic stablecoins? (25:03) Tory Reiss: Algorithmic stablecoins, none of them have launched yet, but crypto-collateralized stablecoins, obviously the only player in the game today is Maker and Dai, which we think is awesome, we think it's a great project and a great team. We actually work with them very closely, they're adding multi-collateral support soon, and TrueUSD is going to be part of that bundle. So, there's actually a lot of collaboration there. In terms of fiat-backed, we've been able to win the fiat-backed market, it's still very much a competition and we admire most of the competitors that are in the market today which run really fantastic businesses. We are the only independent stablecoin in the world; we're the only one that is not owned or controlled by an exchange. And that's allowed us to invest really heavily in the user experience, but to do sell in a different way than our competitors. I think this is why the market has been choosing us. What I mean is that we tend to invest heavily in whatever's going to be best for the user, not relating to us, we don't have a platform, so we don't have a dog in the fight. We just want to make sure that they have the broadest range of services, wallets and exchanges. We're dedicated to maximizing the value that anyone holding TrueUSD can realize. Whereas many other tokens are trying to lock you into an ecosystem of their services, their exchange and things like that, because that's the only way that they make money. That's what's in their best interest. Whereas, everything we do is in our user's best interest. That's always what we're thinking of. So, that's really helped us differentiate so far. (27:09) George Manolov: Got It. And here comes another question, how do you make money then? (27:17) Tory Reiss: Great question. There're a couple of different ways by which we make money today. We do have a trading desk, and that's necessary when it comes to things like OTC trading or providing liquidity and things like that, that is one source. We are also developing relationships with other platforms - Nexo is actually a great example. There're so many partners and so many companies that are putting together crypto investments all around the world. It's important to us, that we only work with the top 1%, the best companies that we believe in and that we can endorse. And when we do, we want to affiliate revenue. This is a similar model to that of Mint.com and a lot of traditional players like Credit Karma who refer you to credit card companies or lending companies and then they earn a percentage of the return. So, we're setting up similar relationships with the companies that we work with and we plan to generate some affiliate revenue. Lastly, we make money on the float of the TrueUSD that we hold. We generate interest on the float. Those are the main methods today. We tend to think it's better that we're transparent than many other companies whose ways of making money are a little bit unclear and they maybe don't want the public to know. We want to make sure that we're well aligned with all of our customers. (28:59) George Manolov: I want to just get back to something that you mentioned earlier; you're actually thinking of exploring ways to cooperate with Dai. Intuitively, one would think that since Dai is a stable coin, they should be more of a competitor to you. So, could you talk to me a little about how do you see your relation to them? (29:25) Tory Reiss: We see them more as both a partner and a valuable part of the ecosystem. They appeal to different consumers than we do and they also allow for different use cases than we do. We might be the better choice if you’re a Forex company, a business that's doing remittances or an individual who actually want to hold US dollars, but doesn't have access to traditional US banking or a traditional US bank account or you know. However, if you're a consumer that likes the idea of holding a stable currency that's not tied to any government and that’s truly independent, similar to Bitcoin, but you want the stability, I think Maker is clearly the better choice in that regard. I look at myself as a consumer and I genuinely do use TrueUSD to generate returns on my dollars. But I actually also hold a balance of Dai, and there are certain instances where it makes sense to use it. So, we believe that two great projects are better for this space than one. That seems clear. (30:49) George Manolov: One second, sorry I'm thinking out loud here, but the Dai is essentially pegged to the US dollar today, right? Or that’s what they are aiming for. I know they had this problem of the Dai sometimes being traded for less than one dollar. So, they are discussing how they can solve this. So, it's still a dollar today, right? (31:20) Tory Reiss: That's right. The difference though is that it isn’t redeemable for the dollar. So, it might be pegged to the dollar, there are many currencies around the world that are pegged to the dollar, but that doesn't make them a dollar. The example I would give you is this; think like a CFO or a merchant, and if you need dollars to pay your suppliers and they only want to deal with dollars, you know it's not good enough to say, "Hey, I'll give you this instrument that is pegged to the dollar", they want to know it actually is a dollar. In the instance of TrueUSD, for all intents and purposes, it is a dollar like you have a legal claim on a dollar that is sitting in a bank account. There will always be one to one parity and we just launched a real time platform with the top 25 US accounting firms. This real-time dashboard shows you that every single TrueUSD is backed by one US dollar, one to one, and it shows that information in real time. So, you can go and look at the dashboard and see for yourself that you really are holding a US dollar. (32:39) George Manolov: I guess you introduced this because of the concern of the people who were asking, do you guys actually have the dollars? As it has been the question with Tether for a very long time. Does somebody guarantee or audit this? How does this work? (32:59) Tory Reiss: What I was just explaining is that. Previously, we had been posting PDFs of attestations, which is a form of an audit, performed by a third-party accounting partner where they would review the funds that we hold in all of the various escrow accounts or TrueUSD, and compare that to the number of tokens in circulation, and then they issue a report confirming that it was one to one. However, we recently - about less than 10 days ago - announced this new product and big innovation, which is that we are going to be launching a real-time dashboard, and it's built and managed by a third-party accounting firm that will show in real time that it’s one for one. So, instead of once a month seeing a report, you're going to actually see, minute to minute, that it's always one for one and you'll see it go up and go down as people purchase new tokens or redeem tokens for the underlying dollars, and you'll be able to see the reserves. (34:09) George Manolov: Got It. That's pretty cool and I look forward to it. Another topic that I would be curious to learn more, and would love to hear your thoughts about is money laundering. The whole crypto space basically has to rebuke the reputation of being a place where mostly criminals and people with nefarious activities are operating, and that these are the guys who are working with crypto. So, what is TrueUSD doing to make sure that it’s not used for money laundering? (34:58) Tory Reiss: Good question. The money laundering is something we take very seriously. We have a fantastic legal and compliance team, our head of compliance formally led compliance at Coinbase and she has been building a bank-grade, or to be totally honest with you, better than a bank-grade anti money laundering in KYC infrastructure and program. The reason we know it's better is because we work with a lot of banks and when we compare our programs, ours is actually more thorough than many of the banks we work with. Towards that end, we take our position very seriously in terms of that, the only way that someone can redeem TrueUSD, pull dollars out of the system or put dollars in, is if they pass our anti money laundering check. That's the first thing you interact with when you're in our app; you have to pass that identity verification. And as part of that process, we're looking for the telltale signs of money laundering. So, they're doing things like looking at the source of funds, what they want to use it for, the history of the company, who owns it and things like that. They're looking for any red flags and comparing against all of the national databases to ensure that we are maintaining a high standard. That is a big part of our program, but we're also working on some pretty revolutionary technology that's going to be doing a bit more of on-chain analytics to help identify money launderers that way. We're looking at both and we think that, that's really what the future looks like; using both traditional methods and on-chain methods to prevent money laundering. Because no one wants funds being used by terrorists to carry out attacks, or funds being used by criminal organizations. So, we take that very seriously. (37:09) George Manolov: I would actually be very excited and very curious to learn more about this technology that you are working on, because it really can be an overplayed issue, because there's been numerous reports of such vast amounts of money which has been laundered through the traditional banking system compared to the whole crypto market cap, that is just astounding. And I'm sure with what you said about the transparency, the publicity and the trackability of public blockchains, that over time such technologies will eventually be built, which will significantly decrease or make it even impossible for money laundering to happen at all. (38:08) Tory Reiss: I actually agree with you completely. I laugh when people tend to ask about, "Oh well, crypto is synonymous with money laundering", and the reason I find it funny is because people don't realize how much money laundering is happening in the traditional banking system, and a lot of it is even perpetrated or involves many of the banks that are supposed to be preventing it. When it comes to something like TrueUSD or a US dollar-backed stablecoin, the technology that's available is far superior for preventing criminals from using it. I actually think if I were a criminal, I would maybe look at using something like Monero or other similar coins. By the way, not to call out any of the privacy coins, because I think that's actually a very valuable service to society. But it's very different than something like TrueUSD. I think you'd be foolish to use TrueUSD or a similar fiat-backed stablecoin for money laundering, because your transactions are public and forever available to law enforcement, it would be a little bit silly. And we would cooperate with the appropriate authorities in case of an investigation, if it's within our jurisdiction, obviously. If a US law enforcement came to us, we would cooperate and we don't want our users to be thinking otherwise. We have their best interests in mind so we want to make sure that criminals, terrorists, etc. aren't able to use our technology towards their game. (40:07) George Manolov: That makes total sense. I'm looking at your website right now as we're speaking and I see that you’re planning, or your vision is to eventually be able to tokenize all kinds of different assets. From the traditional ones, such as currencies like you currently have the euro here, you also have gold and silver commodities. But you also have securities essentially; small businesses, stocks, bonds, and even crazy stuff such as movies, books, TV shows, music and patents. Can you share a bit on that? (40:58) Tory Reiss: Sure. The way we think of it is; a part of our responsibility is to evangelize the possibilities and the potential futures that are available when it comes to tokenization, which is really just another word that represents securitization, it's just securitization that is done on a blockchain. We obviously list all these different news cases and these assets, but we'd come to believe more and more that this market is going to start with small niche markets that are currently not being well served by the public equities and public markets and that ecosystem. I can name a few examples, but we think it all starts with these small niches and then build from there. I don't think that the consumers necessarily care that it's a security token or it's a stock, quote unquote, because all that really matters to them is that they're able to access the investments that they want. I think eventually if the technology is adopted, which I believe it will be by companies like Nasdaq and ICE, or the New York Stock Exchange, etc. The difference will be that anywhere in the world when people are attempting to make these investments, it's just going to be more affordable, faster, and there might even be portability, where they can carry their investments with them and they're not stuck with one exchange or another. I think that the future is exciting from a technologist standpoint and from a financial more democratization standpoint, in the sense that it'll be available to more people. But I don't think people need to know what technology is running on the backend. Our job is to make it so seamless that people don't even think about the technology behind it. (43:15) George Manolov: I imagine you will be working on commodities and currencies, or just currencies? (43:29) Tory Reiss: In the short term, we are very focused on currencies and potentially commodities. In the mid to long term, it's going to shift towards securities, that infrastructure is being built out as we speak, but I think it could be a number of years before it reaches mainstream adoption. (44:00) George Manolov: I Just want to take a quick break here from Tori and let you know that since this episode was recorded a couple of weeks back, the Trust Tokenization Platform has already released their second stablecoin, which is a TrueGBP, essentially bringing the British Sterling Pounds onto the blockchain as a stablecoin. This is the first ever project to bring the British Pound on the blockchain. So, if interested, definitely go and check this out on Google or on trusttoken.com (44:36) Back to the interview: With that in mind, I want to come to a few final questions that I have. In this talk, I love paying tribute to people who inspired our guests to enter the Crypto Space, to become excited about Bitcoin and Blockchain. So in that sense, is there any particular person, content creator or any particular thing that you read, which made you excited about crypto, blockchain space, and Bitcoin? (45:12) Tory Reiss: It might sound cliché at this point, but for me it was also Satoshi Nakamoto and the Bitcoin White Paper, which I randomly stumbled upon in college after somebody tweeted about it. It’s a masterpiece in terms of being a viral idea and viral concept that managed to transmit itself across millions of people, and I was one of these people. That really kicked off my journey. (45:51) George Manolov: The second question here is, who's the one person or a couple of people, that you follow today, that you read, listen, watch, or keep learning from, until this very day, people that you respect and that myself and our audience can learn from as well? (46:14) Tory Reiss: I'd highly recommend following Arjun Balaji; he's one of the best writers in the space and I think he does a great job in the sense that he shows both sides of many issues and his predictions are always really fascinating to follow. I also follow people in other spaces, but if you are just getting exposed to this space now, one of my favorite books to recommend to people is "Cryptoassets; The Innovative Investor's Guide to Bitcoin and Beyond", and that's by Chris Burniske and Jack Tatar. I love that book. For someone that is maybe an expert in the space, you might not learn a lot, but it does offer the perspective of an investor's lens for the space. And for those that are just getting started, I think it's one of the best introductions to the space. (47:13) George Manolov: I Haven't had the time to check it out, so I'll definitely do. I'm sure some of our listeners will. One more question I have here is, does a company or a crypto project come to mind which you want to succeed, because if it becomes successful it will have a positive impact on what you're doing at the Trust platform? (47:46) Tory Reiss: I mentioned them earlier, but I do think that Maker is one of those projects that has a huge impact and can have a huge influence on the security token space. Because if you think about it, any security token that we create can potentially be used as part of the multi-collateral for the new Dai. So, almost anyone can get leverage on their assets, which is a big deal. If you have a token that represents equity in your home, you can pull capital out using multi-collateral Dai. Not every country has access to home equity lines of credit or things like that. So, I think that's a very powerful innovation and I think that'll unlock a lot of value across hard assets once they're represented in a token form. (48:37) George Manolov: Finally, where can people learn more about you and about the Trust Tokenization Platform? Where can they follow you? (48:52) Tory Reiss: I'd love for you to check out trusttoken.com, we'd love to hear your thoughts. If you want to buy TrueUSD, it's app.trusttoken.com. For me personally, you can find me on Twitter. I'm not super active but I am responsive and that's “@Theetory”, feel free to shoot me a DM or a chat anytime. That's the best way to get in touch. (49:26) George Manolov: Awesome, Tory! Thanks again for your time. It was an exciting talk. There are definitely some valuable insights here. I look forward to seeing further developments in the Trust Tokenization Platform and maybe we can do this again after some time. (49:45) Tory Reiss: Yeah, I would love it.
Interview location: New YorkInterview date: Monday 25th March, 2019Company: PlaceholderRole: PartnerOne of the most interesting debates in the cryptocurrency industry is whether there is a valid use for a blockchain outside of Bitcoin and whether there is a market for a broad range of crypto assets. Despite the many scams, there are projects with honest intentions of building new business models and economies.Are the maximalists right? Should all focus and attention be on Bitcoin, or in a free market should we embrace entrepreneurs who wish to innovate? It is indeed a topic which splits people.While I sympathise with the views of maximalists who time and time again have seen projects come and go, attempting to use blockchain like some magical component for a new industry. I also maintain a healthy curiosity.Will any of these projects exist with meaningful use in ten years? Will Bitcoin be the only successful use of a blockchain? I struggle to find a binary answer, but I do not support the berating of anyone open to new ideas.In this interview I discuss these issues with Chris Burniske, the author of Cryptoassets - An Innovate Investors Guide to Bitcoin and Beyond. Chris is a Bitcoiner, but he is also an investor in, and his view is that we are at the start of a new industry for programmable money and crypto assets. We discuss why Chris is bullish on Bitcoin, why he believes in a market for tokens, the ethics of value extraction and dealing with the pressure of maximalists.-----If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:Become a Patron and get access to shows early or help contributeMake a tip:Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2SQR Codes: Bitcoin | Ethereum | Litecoin | Monero | ZCash | RipplecoinIf you do send a tip then please email me so that I can say thank youSubscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | TuneIn | RSS FeedLeave a review on iTunesShare the show and episodes with your friends and familySubscribe to the newsletter on my websiteFollow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTubeIf you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.
with Chris Burniske (@cburniske), Joel Monegro (@jmonegro), Denis Nazarov (@Iiterature), and Jesse Walden (@jessewldn) When designing cryptonetworks -- really, emerging economies -- how do we avoid some of the monetary and fiscal policy failings of "real-world" economies? Like not separating currency and capital, which accelerated and spread economic growth through the former... but also concentrated the latter into the hands of a few? Yet how can we empower users to access capital while also managing risk? If the promise of cryptonetworks is to better align incentives and value capture, then we can't make the same mistakes as we did in traditional economies. We also have the chance to do novel things not possible in the physical world, through software. So this episode of the a16z Podcast -- featuring voices from Placeholder VC and a16z Crypto -- goes deep into the nuances and mechanisms of cryptonetworks, tokens, and decentralized applications at every layer of the "stack". Chris Burniske (who has written a lot about financial modeling-influenced frameworks for analyzing crypto) and Joel Monegro (who has written about "fat protocols", and once managed the Digital Economy Department at the Ministry of Industry and Commerce of the Dominican Republic) of Placeholder VC discuss and debate all of the above -- and more! -- with a16z crypto's Denis Nazarov and Jesse Walden (co-founders of Mediachain, which was acquired by Spotify). Throughout the history of information technology, we've gone from hardware to software, and software to data. So what's next, what's the layer above data? The answer is governance -- which gives more people a way to participate in decision making around a given network -- but the answer for how to implement the best governance isn't so clear.
On the show today we welcome Chris Burniske of Placeholder, a venture capital firm that invests in cryptoassets. Chris is a friend and former colleague of ours at ARK Invest and he will be discussing all the latest developments in the crypto space as well filling us in on Placeholder's projects and founding ideas. Yassine Elmandjra (ARK analyst) is also here to help conduct the interview and further our probing of Chris' expertise. We aim to provide a review of the past year and get into the idea of defining a new economy before breaking down some of the key areas of interest relating to Bitcoin. Chris unpacks store of value and medium of exchange, what the future may look like, volatility and much more on the vanguard of the crypto world. The discussion turns to some other prominent cryptocurrencies before looking at regulation and global approaches to the growth of the cryptoassets. For all this and much more be sure to tune in! (Note: This episode was recorded 11/07/2018)
On the show today we welcome Chris Burniske of Placeholder, a venture capital firm that invests in cryptoassets. Chris is a friend and former colleague of ours at ARK Invest and he will be discussing all the latest developments in the crypto space as well filling us in on Placeholder’s projects and founding ideas. Yassine Elmandjra (ARK analyst) is also here to help conduct the interview and further our probing of Chris’ expertise. We aim to provide a review of the past year and get into the idea of defining a new economy before breaking down some of the key areas of interest relating to Bitcoin. Chris unpacks store of value and medium of exchange, what the future may look like, volatility and much more on the vanguard of the crypto world. The discussion turns to some other prominent cryptocurrencies before looking at regulation and global approaches to the growth of the cryptoassets. For all this and much more be sure to tune in! (Note: This episode was recorded 11/07/2018)
Welcome to FYI! ARK's podcast offers an intellectual discussion on recent developments across disruptive innovation—driven by research, news, controversies, companies, and technological breakthroughs. In every episode ARK and guests provide a unique perspective on how to best understand disruptive innovation. We shine light on research, reports, and expert opinions, with the goal to discuss what really matters and how to capture technologically enabled growth. Some of our first guests on this podcast include Horace Dediu, Chris Burniske, Ambassador Yossi Gal, Cathie Wood, and more. Please feel free to reach out to us with topic ideas and suggestions for podcast guest. We hope you enjoy the conversation!
Welcome to FYI! ARK’s podcast offers an intellectual discussion on recent developments across disruptive innovation—driven by research, news, controversies, companies, and technological breakthroughs. In every episode ARK and guests provide a unique perspective on how to best understand disruptive innovation. We shine light on research, reports, and expert opinions, with the goal to discuss what really matters and how to capture technologically enabled growth. Some of our first guests on this podcast include Horace Dediu, Chris Burniske, Ambassador Yossi Gal, Cathie Wood, and more. Please feel free to reach out to us with topic ideas and suggestions for podcast guest. We hope you enjoy the conversation!
This week, because I was busy with my TEDx talk and my book, I decided to do an episode in which I answer your questions. Thank you to everyone who submitted one, and I'm so sorry I didn't get to all your questions. In this episode, I talk about what's necessary to gain wider adoption, how I think the next bull run will manifest and how Bitcoin would behave in a serious financial crisis. Plus, I reveal which areas of the industry I think will blossom, and which areas I'm less optimistic about. I also answer what people who are just getting into the technology can do in the space, why the oracle problem is so challenging and how it can be resolved, and what the velocity problem is, and whether it applies especially to Ethereum. I also delve into privacy coins, whether or not the lower overall crypto market volatility we're seeing now will continue, and where this trend with stablecoins is going. There are a LOT of episode links -- be sure to check them out! Thank you to our sponsors! Altlending: https://altlending.com Blockdaemon: http://blockdaemon.com/unchained/ Episode links: Senate hearing on cryptocurrencies: https://www.c-span.org/video/?452837-1/senate-banking-panel-explores-cryptocurrencies-blockchains Tweets with me, Nouriel and Vitalik: https://twitter.com/laurashin/status/1050782831859752960 My conversation with Soona Amhaz of Token Daily about Nouriel Roubini on Unconfirmed: http://unconfirmed.libsyn.com/how-were-misusing-the-word-decentralization-ep041 Milken Institute panel featuring Nouriel Roubini: http://www.milkeninstitute.org/videos/view/cryptocurrencies-irrational-exuberance-or-brave-new-world Skeptics' Episodes: Preston Byrne & Angela Walch: http://unchainedpodcast.co/the-skeptics-episode-preston-byrne-and-angela-walch-on-what-the-industry-and-regulators-get-wrong-in-crypto Meltem Demirors & Jill Carlson: http://unchainedpodcast.co/episode-74 Singularity University episode discussing usbaility: http://unchainedpodcast.co/singularity-university-global-summit-how-do-we-get-consumer-adoption-ep83 My Forbes article on phone hijacking: https://www.forbes.com/sites/laurashin/2016/12/20/hackers-have-stolen-millions-of-dollars-in-bitcoin-using-only-phone-numbers/#2ada233b38ba USV blog post on apps and infrastructure: https://www.usv.com/blog/the-myth-of-the-infrastructure-phase CryptoKitties episode: http://unchainedpodcast.co/what-makes-a-cryptokitty-worth-140000-ep75 Token Foundry standards: https://blog.tokenfoundry.com/token-foundry-standards/ Civil: https://civil.co Forbes magazine feature on blockchain not Bitcoin, featuring Chain: https://www.forbes.com/sites/laurashin/2015/09/09/bitcoins-shared-ledger-technology-moneys-new-operating-system/#66bb2f4c7dd1 Recent episode with Barry Silbert: http://unchainedpodcast.co/barry-silbert-on-what-wall-street-says-privately-about-crypto-vs-what-it-says-publicly-ep87 Decentralized Finance series: 0x: http://unchainedpodcast.co/will-warren-of-0x-on-why-decentralized-exchanges-are-the-future Dharma: http://unchainedpodcast.co/nadav-hollander-on-how-dharma-could-create-new-forms-of-debt-ep80 Compound: http://unchainedpodcast.co/how-youll-earn-interest-on-your-crypto-with-compound-ep82 dYdX: http://unchainedpodcast.co/how-dydx-allows-you-to-take-a-short-position-in-one-token-ep86 Institutional money: The Information article on university endowments investing in crypto: https://www.theinformation.com/articles/harvard-stanford-mit-endowments-invest-in-crypto-funds Unchained episode with Tuur Demeester: http://unchainedpodcast.co/tuur-demeester-on-why-hes-a-bitcoin-maximalist-and-bearish-on-ethereum-ep81 Fortune article on Bakkt: http://fortune.com/longform/nyse-owner-bitcoin-exchange-startup/ Custody solutions: BitGo becomes a qualified custodian: https://www.coindesk.com/bitgo-receives-regulatory-approval-to-custody-crypto-assets/ Unchained episode with Mike Belshe of BitGo: http://unchainedpodcast.co/mike-belshe-on-what-bitgos-kingdom-trust-acquisition-means-for-crypto-and-how-security-will-develop-in-the-future Coinbase Custody opens: https://blog.coinbase.com/coinbase-custody-is-officially-open-for-business-182c297d65d9 Potential recession: Oslo Freedom Forum episode on uptake of bitcoin in Venezuela: http://unchainedpodcast.co/the-oslo-freedom-forum-in-new-york-why-decentralization-matters-ep85 Fortune article on Chainalysis: http://fortune.com/2018/10/10/can-the-whales-of-bitcoin-tank-the-market/?ref=tokendaily Trends I think will blossom: First Unchained episode with Kathryn Haun: http://unchainedpodcast.co/federal-prosecutor-kathryn-haun-on-how-criminals-use-bitcoin-and-how-she-catches-them Unchained episode with Chris Dixon of a16z crypto: http://unchainedpodcast.co/chris-dixon-on-how-trust-is-the-best-lego-block-ep70 Unchained episode with Zooko Wilcox of Zcash: http://unchainedpodcast.co/zcashs-zooko-wilcox-on-why-he-believes-privacy-coins-will-be-used-more-for-good-than-bad JPMorgan Chase using Zcash technology: https://www.forbes.com/sites/laurashin/2017/05/22/jpmorgan-chase-to-integrate-zcash-technology-to-its-enterprise-blockchain-platform/ Enterprise blockchains: NYT article I wrote on enterprise blockchains: https://www.nytimes.com/2018/06/27/business/dealbook/industries-blockchains-efficiency.html Oracles: Ether flash crash on GDAX: https://www.cnbc.com/2017/06/22/ethereum-price-crash-10-cents-gdax-exchange-after-multimillion-dollar-trade.html Medium article on oracles: https://www.cnbc.com/2017/06/22/ethereum-price-crash-10-cents-gdax-exchange-after-multimillion-dollar-trade.html Episode with Joey Krug of Augur: http://unchainedpodcast.co/joey-krug-on-how-augur-is-like-any-other-tool-ep79 Episode with Danny An of TrustToken: http://unchainedpodcast.co/harbor-and-trusttoken-on-why-they-dont-mind-being-unsexy-ep77 Velocity problem: Chris Burniske on how to value a crypto asset, on Unchained: http://unchainedpodcast.co/how-to-valuate-a-crypto-asset-s3e08 Ethereum post on reducing block reward: https://www.cnbc.com/2017/06/22/ethereum-price-crash-10-cents-gdax-exchange-after-multimillion-dollar-trade.html Privacy coins: Good post on Monero vs. Zcash: https://medium.com/digitalassetresearch/zec-best-in-class-privacy-in-a-public-blockchain-1df2a3728739 Episode on illicit use of cryptocurrencies: http://unchainedpodcast.co/how-widespread-is-money-laundering-in-crypto-ep72 Carlotta Perez book, Technological Revolutions and Financial Capital: http://www.carlotaperez.org/pubs?s=tf&l=en&a=technologicalrevolutionsandfinancialcapital Unchained episode on stablecoins: http://unchainedpodcast.co/why-its-so-hard-to-keep-stablecoins-stable Unconfirmed episode with Rune Christensen of MakerDAO: http://unconfirmed.libsyn.com/rune-christensen-of-makerdao-on-its-15-million-from-andreessen-horowitz-ep039 Unchained episode with Circle that describes their stablecoin: http://unchainedpodcast.co/circles-jeremy-allaire-and-sean-neville-on-why-crypto-will-be-bigger-than-the-web-ep71
This week, because I was busy with my TEDx talk and my book, I decided to do an episode in which I answer your questions. Thank you to everyone who submitted one, and I'm so sorry I didn't get to all your questions. In this episode, I talk about what's necessary to gain wider adoption, how I think the next bull run will manifest and how Bitcoin would behave in a serious financial crisis. Plus, I reveal which areas of the industry I think will blossom, and which areas I'm less optimistic about. I also answer what people who are just getting into the technology can do in the space, why the oracle problem is so challenging and how it can be resolved, and what the velocity problem is, and whether it applies especially to Ethereum. I also delve into privacy coins, whether or not the lower overall crypto market volatility we're seeing now will continue, and where this trend with stablecoins is going. There are a LOT of episode links -- be sure to check them out! Thank you to our sponsors! Altlending: https://altlending.com Blockdaemon: http://blockdaemon.com/unchained/ Episode links: Senate hearing on cryptocurrencies: https://www.c-span.org/video/?452837-1/senate-banking-panel-explores-cryptocurrencies-blockchains Tweets with me, Nouriel and Vitalik: https://twitter.com/laurashin/status/1050782831859752960 My conversation with Soona Amhaz of Token Daily about Nouriel Roubini on Unconfirmed: http://unconfirmed.libsyn.com/how-were-misusing-the-word-decentralization-ep041 Milken Institute panel featuring Nouriel Roubini: http://www.milkeninstitute.org/videos/view/cryptocurrencies-irrational-exuberance-or-brave-new-world Skeptics' Episodes: Preston Byrne & Angela Walch: http://unchainedpodcast.co/the-skeptics-episode-preston-byrne-and-angela-walch-on-what-the-industry-and-regulators-get-wrong-in-crypto Meltem Demirors & Jill Carlson: http://unchainedpodcast.co/episode-74 Singularity University episode discussing usbaility: http://unchainedpodcast.co/singularity-university-global-summit-how-do-we-get-consumer-adoption-ep83 My Forbes article on phone hijacking: https://www.forbes.com/sites/laurashin/2016/12/20/hackers-have-stolen-millions-of-dollars-in-bitcoin-using-only-phone-numbers/#2ada233b38ba USV blog post on apps and infrastructure: https://www.usv.com/blog/the-myth-of-the-infrastructure-phase CryptoKitties episode: http://unchainedpodcast.co/what-makes-a-cryptokitty-worth-140000-ep75 Token Foundry standards: https://blog.tokenfoundry.com/token-foundry-standards/ Civil: https://civil.co Forbes magazine feature on blockchain not Bitcoin, featuring Chain: https://www.forbes.com/sites/laurashin/2015/09/09/bitcoins-shared-ledger-technology-moneys-new-operating-system/#66bb2f4c7dd1 Recent episode with Barry Silbert: http://unchainedpodcast.co/barry-silbert-on-what-wall-street-says-privately-about-crypto-vs-what-it-says-publicly-ep87 Decentralized Finance series: 0x: http://unchainedpodcast.co/will-warren-of-0x-on-why-decentralized-exchanges-are-the-future Dharma: http://unchainedpodcast.co/nadav-hollander-on-how-dharma-could-create-new-forms-of-debt-ep80 Compound: http://unchainedpodcast.co/how-youll-earn-interest-on-your-crypto-with-compound-ep82 dYdX: http://unchainedpodcast.co/how-dydx-allows-you-to-take-a-short-position-in-one-token-ep86 Institutional money: The Information article on university endowments investing in crypto: https://www.theinformation.com/articles/harvard-stanford-mit-endowments-invest-in-crypto-funds Unchained episode with Tuur Demeester: http://unchainedpodcast.co/tuur-demeester-on-why-hes-a-bitcoin-maximalist-and-bearish-on-ethereum-ep81 Fortune article on Bakkt: http://fortune.com/longform/nyse-owner-bitcoin-exchange-startup/ Custody solutions: BitGo becomes a qualified custodian: https://www.coindesk.com/bitgo-receives-regulatory-approval-to-custody-crypto-assets/ Unchained episode with Mike Belshe of BitGo: http://unchainedpodcast.co/mike-belshe-on-what-bitgos-kingdom-trust-acquisition-means-for-crypto-and-how-security-will-develop-in-the-future Coinbase Custody opens: https://blog.coinbase.com/coinbase-custody-is-officially-open-for-business-182c297d65d9 Potential recession: Oslo Freedom Forum episode on uptake of bitcoin in Venezuela: http://unchainedpodcast.co/the-oslo-freedom-forum-in-new-york-why-decentralization-matters-ep85 Fortune article on Chainalysis: http://fortune.com/2018/10/10/can-the-whales-of-bitcoin-tank-the-market/?ref=tokendaily Trends I think will blossom: First Unchained episode with Kathryn Haun: http://unchainedpodcast.co/federal-prosecutor-kathryn-haun-on-how-criminals-use-bitcoin-and-how-she-catches-them Unchained episode with Chris Dixon of a16z crypto: http://unchainedpodcast.co/chris-dixon-on-how-trust-is-the-best-lego-block-ep70 Unchained episode with Zooko Wilcox of Zcash: http://unchainedpodcast.co/zcashs-zooko-wilcox-on-why-he-believes-privacy-coins-will-be-used-more-for-good-than-bad JPMorgan Chase using Zcash technology: https://www.forbes.com/sites/laurashin/2017/05/22/jpmorgan-chase-to-integrate-zcash-technology-to-its-enterprise-blockchain-platform/ Enterprise blockchains: NYT article I wrote on enterprise blockchains: https://www.nytimes.com/2018/06/27/business/dealbook/industries-blockchains-efficiency.html Oracles: Ether flash crash on GDAX: https://www.cnbc.com/2017/06/22/ethereum-price-crash-10-cents-gdax-exchange-after-multimillion-dollar-trade.html Medium article on oracles: https://www.cnbc.com/2017/06/22/ethereum-price-crash-10-cents-gdax-exchange-after-multimillion-dollar-trade.html Episode with Joey Krug of Augur: http://unchainedpodcast.co/joey-krug-on-how-augur-is-like-any-other-tool-ep79 Episode with Danny An of TrustToken: http://unchainedpodcast.co/harbor-and-trusttoken-on-why-they-dont-mind-being-unsexy-ep77 Velocity problem: Chris Burniske on how to value a crypto asset, on Unchained: http://unchainedpodcast.co/how-to-valuate-a-crypto-asset-s3e08 Ethereum post on reducing block reward: https://www.cnbc.com/2017/06/22/ethereum-price-crash-10-cents-gdax-exchange-after-multimillion-dollar-trade.html Privacy coins: Good post on Monero vs. Zcash: https://medium.com/digitalassetresearch/zec-best-in-class-privacy-in-a-public-blockchain-1df2a3728739 Episode on illicit use of cryptocurrencies: http://unchainedpodcast.co/how-widespread-is-money-laundering-in-crypto-ep72 Carlotta Perez book, Technological Revolutions and Financial Capital: http://www.carlotaperez.org/pubs?s=tf&l=en&a=technologicalrevolutionsandfinancialcapital Unchained episode on stablecoins: http://unchainedpodcast.co/why-its-so-hard-to-keep-stablecoins-stable Unconfirmed episode with Rune Christensen of MakerDAO: http://unconfirmed.libsyn.com/rune-christensen-of-makerdao-on-its-15-million-from-andreessen-horowitz-ep039 Unchained episode with Circle that describes their stablecoin: http://unchainedpodcast.co/circles-jeremy-allaire-and-sean-neville-on-why-crypto-will-be-bigger-than-the-web-ep71
The Blockchain and Us: Conversations about the brave new world of blockchains, cryptoassets, and the
Jack Tatar speaks about his book "Cryptoassets" (written with Chris Burniske), why the real value of bitcoin is not zero (answering to Adriano Lucatelli), the real value of the crypto ecosystem, financial companies dipping their feet in the crypto waters, tools for analysis and management of crypto portfolios, risk and reward of cryptoassets, comparing them with other assets, institutional investors and cryptoassets, evaluating crypto investments and founders, the ideologie of decentralization, and when banks will exchange Bitcoins for U.S. dollars. Jack is the co-author (together with Chris Burniske) of the bestselling book “Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond”. He is managing partner of Doyle Capital Management, an investment firm that invests in, and advises early stage companies in the cryptoasset and blockchain technology space. Jack has over two decades of experience in financial services, and he is the Chair of the Cryptoassets Working Group for the Wall Street Blockchain Alliance. He is also the co-author of one of the earliest books on Bitcoin, “What's the Deal with Bitcoins?” and has written numerous books on retirement and finance. Jack is also a contributor to Forbes and has written for Marketwatch, CNBC and About.com. Jack Tatar: https://www.linkedin.com/in/jacktatar/, http://www.twitter.com/JackTatar Book "Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond": https://www.bitcoinandbeyond.com Many thanks to our sponsor! This episode has support from Shift Cryptosecurity, the maker of BitBox, a minimalist hardware wallet for cryptocurrencies. BitBox is rock-solid, compact, portable, easy to use, and designed and manufactured in Switzerland. To learn more and get your wallet today, visit http://www.shiftcrypto.ch.
Joel Monegro, partner at crypto VC firm Placeholder Ventures, describes how well his seminal blog post, "Fat Protocols," is holding up, why he and his partner Chris Burniske opted to found a crypto VC firm as opposed to a hedge fund, and what main factors they think will determine the success of a blockchain. He also describes how crypto and blockchains fit into the evolution of technology, how the business models in the crypto space will be built, and why their first publicly known investment was in Decred. Plus, he reveals why their firm is called Placeholder. Placeholder: https://www.placeholder.vc Joel: https://twitter.com/jmonegro The Placeholder investment thesis: https://ipfs.io/ipfs/QmZL4eT1gxnE168Pmw3KyejW6fUfMNzMgeKMgcWJUfYGRj/Placeholder%20Thesis%20Summary.pdf The Fat Protocols Thesis: https://www.usv.com/blog/fat-protocols Decred investment thesis: https://www.placeholder.vc/blog/2018/5/12/decred-investment-thesis Blog post on information technology cycles: https://monegro.org/work/2018/2/20/information-technology-market-cycles-a-brief-history Joel's blog post on the shared data layer of the blockchain application stack: http://joel.mn/post/104755282493/the-shared-data-layer-of-the-blockchain and on the blockchain application stack: http://joel.mn/post/103546215249/the-blockchain-application-stack Two episodes featuring his partner, Chris Burniske: http://unchainedpodcast.co/how-to-valuate-a-crypto-asset-s3e08 http://unchainedpodcast.co/want-higher-returns-invest-in-bitcoin-say-arks-chris-burniske-and-coinbases-adam-white Another episode that I forgot to mention during the show, the interview with Bill Tai, which contains ideas that overlap quite a bit with Joel's: http://unchainedpodcast.co/maitai-globals-bill-tai-on-why-blockchain-is-the-6th-wave-of-technology Thank you to our sponsors! Preciate: https://preciate.org/recognize/ Blockchain Warehouse: https://www.blockchainwarehouse.com
Joel Monegro, partner at crypto VC firm Placeholder Ventures, describes how well his seminal blog post, "Fat Protocols," is holding up, why he and his partner Chris Burniske opted to found a crypto VC firm as opposed to a hedge fund, and what main factors they think will determine the success of a blockchain. He also describes how crypto and blockchains fit into the evolution of technology, how the business models in the crypto space will be built, and why their first publicly known investment was in Decred. Plus, he reveals why their firm is called Placeholder. Placeholder: https://www.placeholder.vc Joel: https://twitter.com/jmonegro The Placeholder investment thesis: https://ipfs.io/ipfs/QmZL4eT1gxnE168Pmw3KyejW6fUfMNzMgeKMgcWJUfYGRj/Placeholder%20Thesis%20Summary.pdf The Fat Protocols Thesis: https://www.usv.com/blog/fat-protocols Decred investment thesis: https://www.placeholder.vc/blog/2018/5/12/decred-investment-thesis Blog post on information technology cycles: https://monegro.org/work/2018/2/20/information-technology-market-cycles-a-brief-history Joel's blog post on the shared data layer of the blockchain application stack: http://joel.mn/post/104755282493/the-shared-data-layer-of-the-blockchain and on the blockchain application stack: http://joel.mn/post/103546215249/the-blockchain-application-stack Two episodes featuring his partner, Chris Burniske: http://unchainedpodcast.co/how-to-valuate-a-crypto-asset-s3e08 http://unchainedpodcast.co/want-higher-returns-invest-in-bitcoin-say-arks-chris-burniske-and-coinbases-adam-white Another episode that I forgot to mention during the show, the interview with Bill Tai, which contains ideas that overlap quite a bit with Joel's: http://unchainedpodcast.co/maitai-globals-bill-tai-on-why-blockchain-is-the-6th-wave-of-technology Thank you to our sponsors! Preciate: https://preciate.org/recognize/ Blockchain Warehouse: https://www.blockchainwarehouse.com
Unconfirmed: Insights and Analysis From the Top Minds in Crypto
Chris Burniske, partner at Placeholder and author of Cryptoassets, discusses why he thinks initial coin offerings may not always be the best token distribution model, why he's more interested in projects that enable users to earn tokens through contributing to the network, and how token distribution models can be designed to take advantage of the democratizing potential of blockchains. We also discuss why Placeholder uses a ten-year time horizon as it invests in these liquid markets and why regulators may someday have to buy tokens. Placeholder: https://www.placeholder.vc/ TPL: https://blog.zeppelin.solutions/tpl-a-framework-for-secure-peer-to-peer-exchange-7c69fd0aebc9 Messari: https://messari.io/ Harbor/R-token standard: https://harbor.com/ R-token white paper: https://harbor.com/rtokenwhitepaper.pdf
We chat with Chris Burniske (@cburniske), partner at Placeholder VC and co-author of the bestseller "Cryptoassets - The Innovative Investor's Guide to Bitcoin and Beyond". We talk about: How to value different types of cryptoassets The framework to quantify investment risk Traditional VC vs. crypto venture capital ...and more. Please rate and subscribe to help us get this podcast to more people! Host: Jason Choi (@MrJasonChoi) Music by and used with permission from Phortissimo: https://soundcloud.com/phortissimo Not financial advice.
In Episode 34 of Hidden Forces, Demetri Kofinas speaks with Brian Kelly, CEO of BKCM LLC, a digital asset investment firm. He is an experienced Global Macro investor with over twenty-five years’ experience in financial markets and a CNBC contributor who appears regularly on Fast Money. Our most recent episodes with Chris Burniske on modeling cryptoassets and with Ari Paul on cryptocurrency trading methodologies introduced two foundational frameworks to our audience. This week's episode with Brian Kelly affords our audience the opportunity to explore both of these perspectives (theory and execution) in a single conversation. Brian Kelly is uniquely qualified to talk about the financial side of cryptocurrencies, but he also provides valuable perspective on how the media is covering this space. Brian begins his conversation with Demetri by recounting his introductory experience to bitcoin, how he made his first investments, and what he learned in the year he wrote his book “The Bitcoin Big Bang.” The two explore familiar topics like the problem of scalability, exchange and regulatory risk, cash-settled futures and ETF’s, and how bitcoin may fare to gold during a systemic financial crisis. Is there any way to measure the intrinsic value of a given cryptocurrency? Can permissioned blockchains compete with public ledgers, or will cryptocurrencies come to dominate the future of software? Besides bitcoin and Ethereum, what are some of the more interesting cryptocurrency investment opportunities out there? Brian and Demetri also cover the recent spike in financial volatility amid this rising interest rate environment. Lastly, they consider how the rise of systemic trading strategies and passive investment vehicles like ETFs may accelerate (or not) a future market downturn. Producer & Host: Demetri Kofinas Editor & Engineer: Stylianos Nicolaou Join the conversation on Facebook, Instagram, and Twitter at @hiddenforcespod
Burt Flickinger, Managing Director at Strategic Resource Group, on Walmart earnings and outlook. Russ Koesterich, head of asset allocation for BlackRock Inc.’s global allocation team, on market outlook and how he is allocating assets. Richard Conn, Managing Partner of Eurasia Advisors, on impact of the Mueller indictments on US-Russia relations, and what response would be effective in dealing with Moscow.Chris Burniske, Partner at Placeholder and advisor to ARK Investment Management, on why Venezuela's petro is not a true cryptocurrency.
Downtrend continues... Feb 6th at 10am EST is the US Senate Committee on Banking, Housing, and Urban Affairs meeting with SEC and CFTC chiefs to talk about crypto Watch out for people who are certain on their valuation methods for crypto assets, but check out Chris Burniske's medium page for for ideas on how to go about it https://medium.com/@cburniske/cryptoa... Matt's Referrals Robinhood: http://share.robinhood.com/matther198 Binance: https://www.binance.com/?ref=11705153Rob's Referrals Binance: https://www.binance.com/?ref=11317296 Kucoin: https://www.kucoin.com/#/?r=1r4M3
In Episode 31 of Hidden Forces, host Demetri Kofinas speaks with Chris Burniske about how to value a cryptocurrency. Chris is a co-founder of Placeholder, a New York venture firm that specializes in cryptoassets. Before Placeholder, Chris Burniske pioneered ARK Invest's Next Generation Internet strategy, leading the company to become the first public fund manager to invest in cryptocurrency. He then transitioned to focus exclusively on cryptoassets, paving the way for Wall Street to recognize it as a new asset class. His commentary has been featured on national media outlets, including the Wall Street Journal, the New York Times, Fortune, and Forbes. With the total market capitalization of all cryptocurrency having surpassed $800 billion by the start of 2018, it was only a matter of time before Wall Street would stand up and take notice. The establishment of a cash-settled futures market for bitcoin in late 2017 is one of many bullish signs for the long-term viability of cryptoassets. It has also opened the door to further institutional capital and crypto-focused hedge funds with hundreds of millions of dollars to deploy. The opportunities for profitmaking are too lucrative to ignore, but the flood of institutional and private capital into the cryptocurrency space is also fueling a speculative mania. The newness of this asset class and its lack of historical price data make proper valuations even more challenging. So, given these constraints, the question remains, how do you value cryptocurrency? The answer lies at the intersection of macroeconomics and financial modeling. Chris Burniske and Demetri Kofinas start by laying out a taxonomy for cryptoassets that breaks them into three categories: cryptocurrency, cryptocommodities, and cryptotokens. In their conversation, they explore how one can learn to differentiate between the different currencies, DApps, and tokens. How does one judge the merits of a white paper, the seriousness of the dev team, and the enthusiasm of early adopters? How important is governance? How can volatility in the underlying token impact the robustness of the software? How do supply schedules determine future values? What are some of the most reliable, early indicators of success or failure for a cryptoventure? These are just some of the questions that Demetri and Chris address in this highly informative and timely conversation. Producer & Host: Demetri Kofinas Editor & Engineer: Stylianos Nicolaou Join the conversation on Facebook, Instagram, and Twitter at @hiddenforcespod
Epicenter - Learn about Blockchain, Ethereum, Bitcoin and Distributed Technologies
Over the past year, cryptoassets have exploded in popularity. From a mere $18bn at the start of 2017, the aggregate market cap of all cryptoassets recently reached $820bn as interest in Bitcoin and its cousins went mainstream. Jack Tatar and Chris Burniske joined us to discuss their new book ‘Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond’. It is one of the first systematic views on cryptoassets from a mainstream investor’s perspective. Topics covered in this episode: How Jack and Chris originally became interested in Bitcoin and cryptoassets Why the term cryptoassets is a good umbrella term for the different kinds of tokens The different categories of cryptoassets: Cryptocurrencies, cryptocommodities and cryptotokens How cryptoassets fit into an overall investment portfolio How to value cryptoassets Whether we are in a cryptoasset bubble and expectations for the future Episode links: Cryptoassets on Amazon Cryptoassets - Book Website Cryptoasset Valuations – Chris Burniske – Medium Why I like the term, “Cryptoassets” – Chris Burniske – Medium The Crypto J-Curve – Chris Burniske – Medium Bitcoins are the best investment in my retirement account - MarketWatch This episode is hosted by Brian Fabian Crain and Meher Roy. Show notes and listening options: epicenter.tv/218
Chris Burniske, Partner at Placeholder and advisor to ARK Investment Management, on outlook for cryptocurrencies in 2018 and upcoming blockchain ETFs. Josh Green, National Correspondent for Bloomberg Businessweek, on the Trump-Bannon feud, following revelations in the Fire and Fury book. Robert LoCascio, CEO and Founder of LivePerson, Inc, on how machine learning and AI is being implemented in customer care industry, and impact of Facebook’s entry. Debra Katz, Employee Rights Attorney at Katz, Marshall & Banks, on how sexual harassment in the workplace costs companies money and creates wage disparities.
Is blockchain and cryptocurrency the future of money? David and Joe discuss it's use now and in the future. This episode was recorded LIVE at The People's Improv Theater in NYC. GUESTS ARE: Chris Burniske - has been featured on CNBC, the Wall Street Journal, the New York Times, and Forbes, cofounder of Placeholder Ventures. He is co-author of the new book CRYPTOASSETS: The Innovative Investor’s Guide To Bitcoin And Beyond Margaux Avedisian - standup comedian featured on the WSJ, EVP at Transform, partner at CoolPool, cofounder of MonetaGo, AlphaPoint, and Tradehill (the first Bitcoin exchange in America). She has been a entrepreneur, publicist, partner and advisor in the Bitcoin and Blockchain industry since 2012 Tatiana Moroz - has appeared on NASDAQ, Market Watch, Yahoo Finance, Reason Magazine, Bitcoin Magazine and many more. Tatiana’s album “Keep The Faith” was released in 2017 having been funded with cryptocurrency. Host of the podcast “The Tatiana Moroz Show” FUNNY AS TECH FunnyAsTech.com Twitter: https://twitter.com/FunnyAsTech https://www.instagram.com/FunnyAsTech/ https://twitter.com/TechEthicist Instagram: https://twitter.com/ImJoeLeonardo Facebook: https://www.facebook.com/FunnyAsTech/ Soundcloud: https://soundcloud.com/user-328735920 Signup to our monthly mailing list: http://eepurl.com/dgokyz NEW EPISODES EVERY MONDAY Funny as Tech is a monthly live panel show and weekly podcast that tackles the thorniest issues in tech! Live shows are performed at the Peoples Improv Theater in Manhattan and podcast interviews at Grand Central Tech. Funny as Tech also performs on the road with conferences and special events. Have a question? Info@FunnyAsTech.com
‘What's crazy for me is that for the first time in history we can actually try out new governance mechanisms without people dying in the streets.' The beauty of blockchain technology is in its ability to facilitate ‘bloodless wars' in which opposing sides compete without bloodshed and ultimately build a borderless world that is fair and free. Luis Cuende's interest in the blockchain began in 2011 when he was only 16 years old. After reading the Bitcoin white paper, Luis connected with others drawn to the idealistic implications of cryptocurrency and started working on blockchain pioneer Stampery, a service providing secure and decentralized proof of existence and ownership. In October of 2016, Luis co-founded Aragon, a governance platform for decentralized organizations. The project allows users to manage organizations via the blockchain with the intent of creating a fair, efficient world. It's no surprise that Luis is on the Forbes 30 Under 30 as well as MIT Technology Review's Spanish Innovators Under 35. Today Luis gets into the details of a decentralized organization, explaining its basic framework and how the governance mechanism works. We look at Aragon's IPO and discuss what other token sales can learn about transparency from the company's success. Luis offers his advice to future founders around cultivating community and his take on how a VR startup might use a decentralized organization to create a virtual world valued in tokens. We cover the valuation of crypto projects and the significance of sound technology over a curated marketing campaign. Listen in as Luis offers his profound insight on the growing popularity of cryptocurrency in Spain, fueled in part by the push for Catalonian independence. Connect with Luis Aragon https://aragon.one/ On Twitter: https://twitter.com/AragonProject Resources Mentioned Bitcoin White Paper https://bitcoin.org/bitcoin.pdf Aragon's Transparency Model http://transparency.aragon.one/#/ Chris Burniske on Twitter https://twitter.com/cburniske?lang=en Luis' Utopian Blog Post https://blog.luisivan.net/not-earth-not-mars-no-planet-will-be-our-home-7f310de93c53 Connect with Boost VC Boost VC Website https://www.boost.vc/ Boost VC on Facebook https://www.facebook.com/boostvc/ Boost VC on Twitter https://twitter.com/BoostVC
Steven Strauss, visiting professor at Princeton University’s Woodrow Wilson School of Public and International Affairs, on whether it’s time to break up the big tech companies, as Jeff Bezos crosses the $100 billion mark Chris Burniske, Partner at Placeholder and Advisor to ARK Investment Management, on bitcoin and whether real money is coming in to the market, or if it’s an escalation of speculators.David Pearl, Co-Chief Investment Officer of Epoch Investment Partners, on current investment outlook, and why he uses free cash flow to evaluate companies. Media and entertainment guru Porter Bibb of Mediatech Capital Partners, on Meredith Corp. agreeing to acquire Time Inc. with the Koch Brothers backing.
Craig Trudell, Bloomberg News Auto Reporter, has news on Tesla's new electric semi-truck. Bloomberg Stocks Editor Dave Wilson explains his Chart of the Day.” Jef Feeley, Bloomberg News Legal Reporter, says Oxycontin maker Purdue Pharma is proposing a settlement to end state investigations and lawsuits over the U.S. opioid epidemic. Chris Burniske, Partner at Placeholder on growing interest in Bitcoin. Carol and Pimm Fox hit the "Movers and Shakers on Wall Street" and Dave Wilson's "Stock of the Day." Rockettes Stacy Paydo and Melinda Farrell tells us all about the 2017 Radio City Christmas Spectacular. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
Craig Trudell, Bloomberg News Auto Reporter, has news on Tesla's new electric semi-truck. Bloomberg Stocks Editor Dave Wilson explains his Chart of the Day.” Jef Feeley, Bloomberg News Legal Reporter, says Oxycontin maker Purdue Pharma is proposing a settlement to end state investigations and lawsuits over the U.S. opioid epidemic. Chris Burniske, Partner at Placeholder on growing interest in Bitcoin. Carol and Pimm Fox hit the "Movers and Shakers on Wall Street" and Dave Wilson's "Stock of the Day." Rockettes Stacy Paydo and Melinda Farrell tells us all about the 2017 Radio City Christmas Spectacular.
This episode is a continuation of the Hash Power series. It is the first of what we will call a Hash Power single—a series of conversations each with a single guest on a specific topic. In this case my guest is Chris Burniske, and the topic is cryptoasset valuation. This conversation is loaded with information, I think you are going to love it. Chris recently released book called Cryptoassets, which is a must read for those interested in this field. Chris was at one point the only tradintional buy side analyst covering bitcoin, and is now a partner at a new crypto firm called Placeholder. Chris has developed new frameworks for evaluating and valuing cryptocurrencies, marrying techniques and ways of thinking for several different asset classes to assess the newest asset class. Chris prefers the term cryptoassets because as you’ll hear, several of these tokens aren’t really currencies at all. We discuss the differences between cryptocurrencies, cryptocommodities, and cryptotokens. We begin our conversation with a deep dive into the equation of exchange, which Chris has been using as a starting point for understanding utility value. You can see all crypto related conversations at investorfieldguide.com/Hashpower. Please enjoy this conversation with Chris Burniske. Hash Power is presented by Fidelity Investments For more episodes go to InvestorFieldGuide.com/podcast. To get involved with Project Frontier, head to InvestorFieldGuide.com/frontier. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag Books Referenced Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond Links Referenced Hash Power Podcast Documentary Nic Carter (twitter) Cryptoasset Valuations (Medium) Show Notes 4:58 - (First Question) – Chris’s overall method for evaluating cryptocurrencies 5:14– Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond 6:47 – The equation exchange 11:19 – Bonding 12:35 – How bonding may represent a more efficient way of representing consensus over proof of work 14:29 – Why the amount being bonded and held should be taken out of the float 16:58 – Using bitcoin as an example to figure out remittances in the PQ side 18:31 – Looking at the velocity of various crypto-assets 21:04 – Chris’s impression of the different way of categorizing various crypto assets 24:37 – Explaining Auger as an example of a cryptotoken 25:38 – How could these networks be impacted by not having any censorship 27:57 – Exploring the gap between expectation vs reality in the value of crypto currency 30:43 – Other ways of valuing these crypto assets 30:50 – Hash Power Podcast Documentary 33:32 – Explaining the idea of billion dollar a day onchain transactions 36:05 – How to measure the value of the underlying network 36:37 – Nic Carter (twitter) 37:13 – What are the variables that matter when investing in cryptocurrency on a long-term horizon 39:24 – Determining when it’s better for a network to be centralized vs decentralized 42:03 – Networks that Chris is most excited about 44:06 – Understanding the consumption side of the steam marketplace 46:01 – Deep dive into the Aragon network 47:27 – How does Chris evaluate existential risk of networks 51:09 – Could these assets really ever go to zero? 54:07 – Is there a scenario in which velocity gets so high that it negatively effects the price 56:10 – What are the unknowns of cryptocurrency that Chris is most interested in 56:24 – Cryptoasset Valuations (Medium) Learn More For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag
Show support appreciated: 35iDYDYqRdN2x6KGcpdV2W1Hy3AjGje9oL Matthew & Fernando interview Chris Burniske on location in New York. Chris is a partner at Placeholder Capital. He formerly led ARK Invest's cryptoasset efforts, making one of the first bullish calls on Bitcoin from "traditional" Wall Street in 2015. Chris has also recently co-authored a book on cryptoasset valuation, linked below. We discuss some of the variables Chris has used and applied in his analysis, including tricky ones like velocity. We discuss the revenues of various blockchains, the differences b/w proof-of-work and proof-of-stake's revenue propositions, and other valuation ideas. Links for more info: Coin supplies in 2050: http://onchainfx.com/ Miner revenues vs. price: https://cryptovoices.com/network-annual-revenue/ https://twitter.com/cburniske?lang=en https://medium.com/@cburniske https://www.amazon.com/Bitcoin-Beyond-Innovative-Investors-Blockchain/dp/1260026671 https://ark-invest.com/research/author/cburniske Show Sponsor: https://shapeshift.io Hosts: Matthew Mežinskis, Fernando Ulrich Music: New Friend Music newfriendmusic.com/ Site: cryptovoices.com/ Podcast & Information Cryptoeconomics & Liberty Thanks for listening! Show content is not investment advice in any way.
Love Unchained? Please take this extremely brief survey to help us obtain more sponsors: https://survey.libsyn.com/unchained Chris Burniske of Placeholder Ventures has recently come out with a new book, "Cryptoassets: The Innovative Investors' Guide to Bitcoin and Beyond" that dives into what crypto assets are, what makes them a new asset class, and how you calculate a valuation for such a network. He applies what is known as the equation of exchange (MV = PQ) to crypto assets and describes why the velocity of crypto assets -- the frequency with which they change hands during a particular time frame -- is likely to be much higher than for traditional assets, and discusses why he gives crypto assets much higher discount rates, which are used to determine what you should pay now for something will be worth more later. Plus, we talk about why the financial incumbents are in for a rude awakening from public blockchains. Show notes: https://www.forbes.com/sites/laurashin/2017/10/17/how-to-value-a-crypto-asset/ Book: https://www.bitcoinandbeyond.com/ Chris's Medium post on crypto asset valuations: https://medium.com/@cburniske/cryptoasset-valuations-ac83479ffca7
Love Unchained? Please take this extremely brief survey to help us obtain more sponsors: https://survey.libsyn.com/unchained Chris Burniske of Placeholder Ventures has recently come out with a new book, "Cryptoassets: The Innovative Investors' Guide to Bitcoin and Beyond" that dives into what crypto assets are, what makes them a new asset class, and how you calculate a valuation for such a network. He applies what is known as the equation of exchange (MV = PQ) to crypto assets and describes why the velocity of crypto assets -- the frequency with which they change hands during a particular time frame -- is likely to be much higher than for traditional assets, and discusses why he gives crypto assets much higher discount rates, which are used to determine what you should pay now for something will be worth more later. Plus, we talk about why the financial incumbents are in for a rude awakening from public blockchains. Show notes: https://www.forbes.com/sites/laurashin/2017/10/17/how-to-value-a-crypto-asset/ Book: https://www.bitcoinandbeyond.com/ Chris's Medium post on crypto asset valuations: https://medium.com/@cburniske/cryptoasset-valuations-ac83479ffca7
There’s not a big third-party in the middle taking thirty, fifty, or whatever percent of the cut on the way, it’s just directly from one individual to another individual. In this episode of Made You Think we mixed it up by bringing in two guests: Taylor Pearson and Adil Majid, to ask them all of our burning questions about cryptocurrency. Neil came into the episode completely fresh and asked them everything he could think of, so if you’re new to bitcoin, ethereum, and cryptocurrency, or have a basic understanding but want to learn more, this is the crash course you’ve been looking for. We cover a wide range of topics, including: The history and the creation of cryptocurrencies Cryptocurrencies pros, cons, and uses Various types and forms of cryptocurrencies The major benefits of cryptocurrencies usage Long and short-term price speculations Reliable sources of cryptocurrency news and information And much more. Please enjoy, and be sure check out Taylor and Adil online! If you enjoyed this episode, be sure to also listen to our launch episodes on Antifragile by Nassim Taleb to learn how to profit from chaos, and on The Sovereign Individual, to better prepare yourself for the cyber-economic future. Mentioned in the show: Spire [1:28] Cypher Punks [13:37] E-Gold [13:57] Dropbox [17:22] Filecoin [17:38] Source Wifi [17:42] Uber [19:21] Nick Szabo’s Blog - Unenumerated [23:19] Steem Crypto-Reddit [38:54] Made You Think: The Sovereign Individual [48:35] Coinbase [50:05] JP Morgan [54:11] JP Morgan trading Bitcoin after fraud claim [54:11] The Silk Road marketplace [1:10:00] Bitcoin forums [1:11:05] Ethereum [1:15:30] The DAO [1:18:45] (the DAO hack) Alibaba [1:23:14] Inneo [1:23:23] Belaji’s article on quantifying decentralization [1:24:20] Bitcoin Whitepaper [1:29:10] Vitalik Buterin’s blog [1:30:56] Social Scalability article [1:35:55] Nick Szabo’s Tim Ferriss Podcast episode [1:36:43] Cryptocurrency on Medium [1:37:03] Books mentioned: The Dictator’s Handbook [4:18] The Master Switch [4:46] Technological Revolutions and Financial Capital [57:37] Digital Gold [1:08:11] The Sovereign Individual [1:30:22] (Made You Think episode) (Nat’s Notes) The Internet of Money [1:34:59] People mentioned: Taylor Pearson [0:49] (Twitter) Adil Majid [1:21] (Twitter) Tim Wu [4:46] Satoshi Nakamoto [11:19] Nick Szabo [14:02] Kevin Kelly [34:05] Gandhi [51:38] Jamie Dimon [54:11] Carlota Perez [57:37] Ari Paul [1:07:47] Chris Burniske [1:07:47] Balaji Srinivasan [1:07:47] Barry Silbert [1:07:47] Vitalik Buterin [1:07:47] Laura Shin [1:07:47] Elizabeth Stark [1:07:47] Fred Wilson [1:07:47] Naval Ravikant [1:07:47] Hal Finney [1:12:13] Bruce Mesquita [1:34:47] Andreas Antonopoulos [1:35:09] Nassim Nicholas Taleb [1:36:20] (Antifragile Made You Think episode) Tim Ferriss [1:36:43] Useful resources: Taylor’s articles on cryptocurrency (here and here) Nat’s articles on cryptocurrency (here and here) 0:00 - Intro to the show and some information on what the episode will be about. 0:49 - Taylor Pearson and Adil Majid’s introductions and how they both got into cryptocurrency. 5:32 - Some of the ways that cryptocurrency is useful due to it being decentralized and free from governmental control. 8:45 - The two types of cryptocurrencies: currencies and tokens, and some key differences between them. 10:13 - What makes cryptocurrencies able to be decentralized and free from governmental control. Also, why people can’t create more bitcoins, info on the blockchain, and info on mining cryptocurrencies. 13:15 - Cryptocurrency creation attempts that came before the creation of Bitcoin. 14:26 - Who is creating cryptocurrencies, how they are created, and how they attain value. 16:23 - Some more information on tokens and some examples of these tokens. 18:11 - Why we would want to use tokens for transactions instead of traditional currency. 23:00 - What the customized contract aspect of cryptocurrencies is and how it is much more beneficial to all parties involved compared to traditional contracts or transactions. 30:59 - The international commerce aspect of cryptocurrencies and the huge impact they can have on minimizing transactional fees. 35:21 - How cryptocurrency is possibly going to affect tech and non-banking companies in the future. 39:18 - The potential of decentralized autonomous organizations in the future and huge impacts these can have on our daily lives. 41:20 - The difference between protocols and applications in cryptocurrencies. 44:49 - Some things that are holding cryptocurrencies back right now. 48:32 - Cryptocurrency regulation and the issue with governmental opposition to cryptocurrencies. 50:39 - Exchanges facing opposition, crypto being free of regulations, and some thoughts on governmental intervention. 54:11 - An example of large companies manipulating the price of cryptocurrencies and how the market cap increasing may help stabilize the currencies. 59:14 - Thoughts on the fluctuations of cryptocurrencies and whether or not it’s going to be valuable long-term or short-term. 1:03:15 - What’s been going on with the Chinese regulations and how that may play out with the different coins in the future. 1:05:45 - Some excellent sources of cryptocurrency information and news, and what types of sources to avoid. 1:08:05 - The backstory of Bitcoin and its creation. Also, some speculations on who the creator actually was. 1:16:10 - The creation of Ethereum, who the creator is, some benefits it has over Bitcoin, and the DAO hack. 1:22:01 - The Bitcoin fork, where Bitcoin split into Bitcoin and Bitcoin cash, and the differences between them. 1:23:29 - Quantifying the decentralization of these various cryptocurrencies. 1:26:28 - The energy arbitrage with Bitcoin, the possible environmental impacts, and Bitcoin mining. 1:30:08 - What you should check out after this episode to learn more about cryptocurrency. 1:32:58 - Where to go to learn more about the application aspect of crypto rather than the currency aspect. 1:38:40 - Wrap-up and where to find Taylor and Adil online. If you enjoyed this episode, don’t forget to subscribe at https://madeyouthinkpodcast.com Part of what makes it so complex is also part of what makes it so interesting. There’s political philosophy, geopolitics, no regulations, network effects, incentivizing people to participate in a network, a kind of economics, and then, there’s the technical standpoint involved.
In this episode: Simon and Colin break down: high profile bankers leaving for cryptocurrency startups, The Chicago Board of Exchange announces that it will launch Bitcoin Futures, and ICO funding tops half a billion dollars in the month of July and 1.6Bn this year. Zeth Couceiro, expert recruiter in the blockchain space, makes his debut on the show giving his top tips on how to get a job in blockchain. They also look back at the first week of Bitcoin Cash since the bitcoin fork and discuss the impact on the price and the network with Chris Burniske. Special Guests: Chris Burniske and Zeth Couceiro.
In another packed episode Simon and Colin discuss the latest news in the industry including the arrest of Alexander Vinnik and seizure of Bitcoin exchange BTC-e; Ethereum miners chartering jumbo jets and of course the Bitcoin split - and we have a comment from crypto expert Chris Burniske to get his take on what just happened and what the impact of the split will be. We also have two fantastic interviews, starting with Dr Gideon Greenspan who’s behind Multichain and Coinsciences and Reto Trinkler, CEO of of MelonPort about the Melon Protocol. Enjoy the show! Tell your friends and please do leave us a review on iTunes. Special Guests: Chris Burniske, Gideon Greenspan, and Reto Trinkler.
Colin and Simon are joined by author Chris Burniske for the news. They cover the top stories rocking the blockchain and cryto space right now, kicking off with the Parity hack last week, which has as many twists and turns as a heist movie after $32M Ethereum was stolen, and a whitehat group attempted to hack it back and return the stolen money. Was this ethical? What is the impact of this? Colin, Simon and Chris try to make sense of it all. They also discuss the bitcoin scaling problem, resulting in a hard fork of bitcoin and a divide in viewpoint of the bitcoin community, and finally, the breaking news of the SEC's verdict on DAO ICOs and tokens and get an exclusive interview from Jeff Bandman in reaction to this. We also have an interview with Richard Brown, CTO of R3 all about the work that they do, and specifically about Corda. Guests: Chris Burniske - Author: Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond Richard Brown - CTO, R3 Jeff Bandman - Principal, Bandman Advisors and former Founding Director and architect, LabCFTC
By now everyone's heard of Bitcoin, and probably has an opinion on it. But the world of cryptocurrencies has a new object of fascination: ICOs. Whereas the tech boom in the 90s was characterized by an obsession with IPOs, these ICOs (initial coin offerings) are cryptographic tokens being sold onto the market for hungry investors eager to get in on new ventures. And while some ICOs are connected to companies, others are connected to "protocols" that aren't even recognizably corporations. Confused? You're not alone. On this week's episode, we talk to Chris Burniske of asset management company Ark Invest to talk about this fascinating new world.
Invest in oil and gold? In this episode, the co-authors of a compelling white paper explain the four reasons why they believe you may soon be investing in digital oil and digital gold instead. Find out why their analysis prompted Burniske to say of bitcoin, "That's an investor's dream," why White mentioned the saying, "On the blockchain, no one knows you're a refrigerator," and how well ARK's investment in bitcoin has performed.
Invest in oil and gold? In this episode, the co-authors of a compelling white paper explain the four reasons why they believe you may soon be investing in digital oil and digital gold instead. Find out why their analysis prompted Burniske to say of bitcoin, "That's an investor's dream," why White mentioned the saying, "On the blockchain, no one knows you're a refrigerator," and how well ARK's investment in bitcoin has performed.
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