Inflection Point The Past, Present and Future of Crypto | DAS London 2024
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Apr 3, 2024 CoinShares' Daniel Masters and Room 40 Capital's Jonathan Cheesman discuss the evolution of crypto finance, financialization, valuation of cryptocurrencies, navigating inflation, trust issues in the crypto community, and Bitcoin's evolution towards mainstream adoption.
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Valuing Digital Assets as Commodities
- Viewing digital assets as commodities helps with valuation, especially since they lack traditional cash flows.
- Commodities are primarily instruments of barter, not equities.
Money as a Trust Instrument
- Money is fundamentally a trust instrument, not tied to GDP or military might.
- Bitcoin's jurisdiction, the internet, surpasses any nation's authority.
The Fed and Inflation
- Despite the Fed's focus on inflation, fiscal easing and global monetary policies have counteracted their efforts.
- Technological advancements and demographics are long-term deflationary drivers.