Bitcoin: A Year in Review with Matt Odell
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Matt Odell is host of the Citadel Dispatch, co-host of Rabbit Hole Recap, venture partner at Ten31 and co-founder of Bitcoin Park. In this interview, we review 2022: the attacks on privacy, the reaffirmation of self-custody, how people who were treated like gods rekted the market, and the responsibility of Bitcoin podcasters in doing right by the audience.
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2022 has been brutal. First, tough lessons were learnt in trying to use Bitcoin for warranted privacy needs within North America. Then, we had our industry's very own global financial crisis when the tide went out and we saw how many of the supposed titans were swimming naked. So many people have been damaged, so many have been rekt.
The collateral damage to Bitcoin is unknown, but material. So much of that damage has come from malign and selfish actions by people who knew better. They have exploited a new form of money, which was meant to circumvent systemic centralized greed and corruption, to put into practice new more brutal forms of extraction than anything we witnessed in TradFi.
But, there are also those, whose actions have been made in good faith, who need to reflect on the events of the past year. We know where blame is centred, but how far does blame extend? Explicitly, what responsibilities do Bitcoin podcasters in general, and this Bitcoin podcaster in particular, have in regard to protecting and educating their audience?
2022 has been personally brutal for a whole range of reasons. But, it is now time for reflection. It is right therefore that, as a show that assesses and comments on the industry, the tables are turned and a light is shone on this show’s decision-making. There is nobody better than Odell to shine that light.
Fundamentally, it is the audience who will decide. I look forward to reading any comments listeners may have following one of the toughest podcasts I have hosted.
00:01:47: Introductions
00:08:30: Bear market year and global recession
00:20:28: Four-year cycles and the supercycle
00:21:46: Bitcoin-only companies
00:33:58: Bitcoin Park and Bitcoin meetups
00:48:03: The IMF
00:49:21: Canadian Trucker protests
01:02:25: Bitcoin's war on privacy
01:04:08: LUNA, Terra, and stablecoins
01:15:07: 3AC, Celsius, FTX, DCG and Genesis, and SBF
01:33:00: BlockFi, corporate sponsorship, and personal responsibility
02:23:25: The complexities of Bitcoin, and being a Bitcoin educator
02:33:17: Final comments
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Mentioned in the interview:
IMF, World Bank Repress Poor Countries - Alex Gladstein, Bitcoin Magazine, Nov 30th 2022
Crypto.com Delists Tether’s USDT Stablecoin for Canadian Users - CoinDesk, Jan 10th 2023
DCG's Barry Silbert Talks About Genesis in Letter to Shareholders - CoinDesk, Jan 10th 2022
Silbert's Agreement: Alliance Declares End of Scaling Wars? - Crypto.news, May 2017
Genesis Owner DCG Faces SEC, DOJ Probes: Report - Decrypt, Jan 8th 2023
BlockFi's Rise and Fall: A Timeline - CoinDesk, Nov 30th 2022
Other Relevant WBD Podcasts:
WBD597: How Lightning Drives Global Bitcoin Adoption with Danny Scott
WBD587: How the IMF & World Bank Exploit Poor Countries with Alex Gladstein
WBD536: How Crypto Replayed the 2008 Financial Crisis with David Morris
WBD532: The Role of Bitcoin Maximalism Part 2 with Pete Rizzo
WBD518: Bitcoin Privacy with Matt Odell
WBD459: Bitcoin & The Canadian Truckers with Greg Foss & NobodyCaribou
WBD405: The Bitcoin v Crypto War with Udi Wertheimer, Crypto Cobain, Alex Gladstein & Allen Farrington
WBD062: Matt Odell and Neil Woodfine on What They Would Like to See for Bitcoin in 2019