What Bitcoin Did

View Original

Bitcoin Conviction with Eric Weiss

Peter McCormack

Interview | Description | Timestamps | Show Notes

See this content in the original post

iTunes | Google | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed

Your browser doesn't support HTML5 audio

Bitcoin Conviction with Eric Weiss - WBD527 Peter McCormack

Download Episode MP3 File
The file will open in a new window. Click down arrow to download the file.

See this content in the original post

Eric Weiss is CEO of the Blockchain Investment Group, and the man who orange-pilled Michael Saylor. In this interview, we discuss the current malaise in the Bitcoin price, why regulation will change this and be good for Bitcoin, and why Bitcoin provides value to all Americans.

- - - -

As Bitcoin continues to track sideways, with a current sentiment of extreme fear and continued reports of its demise, it’s easy to lose the bigger picture. In 13 years Bitcoin has come from zero to an asset comparable to state-sized currencies, which is being discussed at the highest levels of government around the world.

Whilst the wider industry suffers from its own 2007-style financial crisis, where leverage, deception and greed risk an investor bloodbath, Bitcoins ethos remains morally and ethically sound. Bitcoiners' advice to avoid wider altcoin and Web3 proposals has arguably been vindicated. The maxim to hodl is being tested, but long term investors are holding the line.

Why is this? As Eric Weiss states, Bitcoin has grown to become a global phenomenon without a marketing budget. Let that sink in. The growth of Bitcoin has been viral. Individuals have become orange-pilled, and in various forms brought others into the fold. There is no one reason for this, and that is Bitcoin’s strength. It has utility for everyone.

High worth individuals, the middle class and low income groups are all affected by inflation. Yes, in the current environment, the impacts are more immediate for those with less assets. And, Bitcoin’s volatility isn’t a theoretical risk at this time. But even in periods of moderate inflation, compound effects mean that the dollar is losing value year on year.

Bitcoin advocates are confident in the medium term it is going to beat the dollar. Even Charlie Munger thinks the dollar is going to zero over the long term. What amount of Bitcoin constitutes a sensible scale of investment in open to debate, but, as one commentator opined in Bitcoin Magazine on Jul 13th “there is one clearly unwise allocation size when it comes to Bitcoin: zero.”

See this content in the original post

00:03:51: Introductions
00:05:12: Bitcoin price and the macro correlation
00:11:46: Eric's background
00:18:36: Bitcoin regulation and tax treatment
00:25:47: Bitcoin Investment Group
00:30:08: Selling Bitcoin to investors on the digital gold narrative
00:38:58: Bitcoin crossing the political divide, and banking the unbanked
00:42:26: Inflation, and Bitcoin price volatility
00:47:37: The demise of the dollar, and how to prepare for it
00:55:01: Playing chess with Jack Mallers and Michael Saylor
01:01:13: Final comments

See this content in the original post

SUPPORT THE SHOW

If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:

If 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.

SPONSORS

See this content in the original post

Connect with Eric:

Mentioned in the interview:

Other Relevant WBD Podcasts:

See this content in the original post