The Crypto Conversation Josh Olszewicz - Bitcoin's Stock to Flow, Boomers & Millennials, Libra & Facebook
Professional trader and market analyst Josh Olszewicz joins Andy Pickering for a brain dump on the crypto news cycle. Bakkt's volume hit a new all-time-high, and Square had its sixth consecutive growth quarter - bullish for Bitcoin? Plus recent developments in China, why Libra is dead in the water, and Andy tells the story of how Kim Dotcom introduced him to Bitcoin.
Key takeaway:
Crypto has a scam problem, a fungibility problem, and a user-experience problem, are these solvable? Darknet markets still prefer Bitcoin over privacy coins, why? As Boomers fade out, millennial adoption of Bitcoin as digital money for a digital world will become inevitable. China has been working on the digital yuan for 3-4 years, what is really happening, and why China is so adept at playing the long game. Bitcoin's stock to flow model suggests a $55,000 Bitcoin after the 2020 halving.
Why you should listen:
Andy and Josh discuss whether "nocoiner" is a derogatory term in the same way as "Ok Boomer," and Josh outs himself as an Overwatch and Magic: The Gathering enthusiast. Everyone is mad at Facebook, and just as well, as Libra looks like it is designed to use private social media data to calculate credit scores. That would be dystopian. The story of the next decade will a Darwinian battle between decentralized digital currencies, corporate coins, and central bank digital currencies. Spoiler alert - Josh picks Bitcoin as the winner.
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