What Bitcoin Did

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Buy the Fucking Dip with Willy Woo

Peter McCormack

Interview | Description | Timestamps | Show Notes

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Buy the F**king Dip with Willy Woo - WBD429 Peter McCormack

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Location: Remote
Date: Thursday 25th November
Project: Hypersheet
Role: Co-Founder

Comparisons between the 2017 & 2020/2021 bull markets are commonplace, and for a good reason. The 2016 halving kicked off a huge run and the first instance of wider retail getting involved in the Bitcoin market. 2020's halving was one catalyst for the current bull run. However, this time, the market participants are very different. 

Michael Saylor helped change the way institutions approach bitcoin, and a slew of other companies followed in his footsteps. Then, most notably, El Salvador became the first nation-state to make Bitcoin legal tender. Mainstream bitcoin investment has been a defining event of 2021.

Further, this year has witnessed much more complex market activity: ETFs, shorting, and debt leveraged long positions. As a result, stakeholders have also had to assimilate a rapid increase in market-shifting news. This past month has been no exception, culminating in Nayib Bukele, El Salvador's president, announcing his country's 'Bitcoin Bond'. 

In this interview, I talk to on-chain analyst and long-time friend of the show, Willy Woo. We discuss price forecasts, El Salvador's 'Bitcoin Bond', political attacks on Bitcoin, macro events, and comparisons to Ethereum. 

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00:02:31: Introductions
00:04:56: 2020/2021 - a different cycle
00:09:59: The new generation of bitcoiners
00:11:33: S2F and floor models
00:16:08: Different supply/demand effects
00:18:17: Bitcoin ETFs
00:22:45: Changing fundamentals
00:24:31: Huobi Research on S2F
00:27:45: Peter and HODL's bet
00:32:43: El Salvador's volcano bonds
00:46:34: Gaslighting the public
00:55:53: ETH fees and L2s
01:01:30: December consolidation
01:06:19: Final comments

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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.

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