The Peter McCormack Show

Location: Remotely Date: Monday 25th January Company: Kraken Role: Director of Business Development The design of Bitcoin issuance leads to clear four-year market cycles. While Bitcoin experienced bull runs in its first cycle, 2013 was the first, mainstream bull market and the price climbed to over $1,000. What followed was a multi-year bear market and an 80% drawdown. 2016/17 marked the next bull cycle with the Bitcoin price reaching $20,000 only to, again, experience an extended bear market and another 80% drawdown. Many speculate the catalyst for these cycles is the four-year halving, where the issuance rate of Bitcoin to miners cuts in half. With reduced supply and sustained demand, the price of Bitcoin pushes higher. However, each successive bull market presents a new and different set of participants. In 2013, the early adopters were the people who understood the technology or needed censorship-resistant money for the Silk Road. While it had become simpler to buy Bitcoin during this cycle, the fall of MtGox marked the end of this bull market. 2017, was mainly a retail-driven bull market, with few institutions investing in Bitcoin, due to the lack of infrastructure and regulatory clarity. A civil war also marked 2017, where Bitcoienrs debated the block size, ending with a hard fork, a split in the community and the creation of BCash. The current bull market is again different. Institutions have woken up to Bitcoin, and Michael Saylor has paved the way for corporations to add Bitcoin to their balance sheet. With the unprecedented levels of money printing and reckless policy, the need for hard money that is state resistant is more apparent than ever. As Dan Held says "Never before has Bitcoin had such strong fundamentals against a macro backdrop that highlights exactly why Bitcoin is needed, the narrative is singular, and the ability for global value to flow into Bitcoin has never been easier." In this interview, I talk to Dan Held, the Director of Business Development at Kraken. We discuss Bitcoin market cycles, the halving's impact, and the catalysts that could make this cycle a supercycle. Hosted on Acast. See acast.com/privacy for more information.

Location: Remotely Date: Tuesday 26th January Company: Hypersheet Role: Co-Founder Bitcoin has had a great year so far, after hitting a new all-time high of ~$42,000 it has been in a consolidation range bouncing between $30,000 and $40,000. Since that top, we have seen a massive uptick in FUD, including a misreported double spend. This 'double spend' scared some investors and NexTech, a software company that had recently bought 130 Bitcoin, sold off the $4 million of Bitcoin they had acquired as a result. With Bitcoin cooling off for the first time in this bull market, what is the on-chain data telling us, and how can you know when a bull market is coming to an end? In this interview, I talk to on-chain analyst and the co-founder of Hypersheet; Willy Woo. We discuss the run-up to $42,000, what the on-chain data indicates, price targets for Bitcoin and how to call the top. Hosted on Acast. See acast.com/privacy for more information.

Location: Remotely Date: Monday 25th January Company: lynalden.com Role: Macroeconomist Since early January Bitcoin has been consolidating between $30k and $40k and the fundamentals and technicals remain strong. Grayscale has ceased their hiatus, MicroStrategy has added to their position during this time and, in early February, will be holding a conference for other corporations to go through their Bitcoin playbook.Since early January Bitcoin has been consolidating between $30k and $40k and the fundamentals, remain strong. Grayscale has ceased their hiatus, MicroStrategy has added to their position during this time and, in early February, will be holding a conference for other companies to explain their Bitcoin playbook. However, the big story over the last couple of weeks has been Wall Street Bets, the Reddit community taking on Wall Street. These retail investors have picked highly shorted stocks such as GameStop and AMC and bought in huge numbers. Traders activated a massive short squeeze on GameStop, and at least two hedge funds have had to cover their positions at a considerable loss. During this period the GameStop price went from ~$19 to ~$460. With retail traders desperate to take it to Wall Street, what is the eventual outcome, and what role has the COVID lockdowns and subsequent stimulus played in this? In this interview, I talk to Lyn Alden, a macroeconomist and investment strategist. We discuss the Bitcoin price action, retail investors/WSBs and Lyn's economic analysis of Ethereum. Hosted on Acast. See acast.com/privacy for more information.

Location: Remotely Date: Tuesday 15th December Company: Block Digest Role: Host Checking your balance or sending Bitcoin can be as simple as opening an app or scanning a QR code and clicking send, but what is happening behind the scenes to make that happen? Unspent transaction outputs (UTXOs) are the monetary units of bitcoin. They are likes coins and notes in the traditional financial system but can be of any value. When accessing a wallet, the software creates your balance by totalling the value of all your UTXOs, and when you want to send someone bitcoin, your wallet selects the UTXOs required to make up the amount you want to send. In many cases, wallet software abstracts away UTXOs so that the user does not have to consider them. However, it is a crucial part of the system that, when properly used, can help protect your privacy and reduce your transaction fees. In this interview, I talk to Shinobi, the host of Block Digest. We discuss UTXOs, what they do, how they work and the implications for both privacy and transaction fees. Hosted on Acast. See acast.com/privacy for more information.

Location: Remotely Date: Tuesday 12th January Company: Swan Bitcoin Role: Head of Institutional Investment Why buy bitcoin is a complicated question to answer. Bitcoin is many different things to different people. It is a censorship-resistant form of payment for those living under authoritarian regimes; for some, it is a hedge against inflation, while it is purely speculative for many others. Even with Bitcoin adoption growing and maturing, the public perception of Bitcoin is still mixed. The mainstream media is somewhat to blame. It regularly pedals false narratives such as the funding of terrorism or Bitcoin being for drug dealers and network security that is melting the polar icecaps. As Bitcoiners we are used to dealing with this kind of FUD, Bitcoin has been declared dead hundreds of times, yet it continually bounces back. So, why buy Bitcoin? In this interview, I talk to Andy Edstrom, author of Why Buy Bitcoin. We discuss his investment thesis for Bitcoin, why Bitcoin continues to thrive and address the common misconceptions and FUD surrounding it. Hosted on Acast. See acast.com/privacy for more information.

Location: Remotely Date: Saturday 16th January Company: VaynerX & Parallax Digital Role: CEO & Founder Hyperbitcoinisation is the state at which Bitcoin becomes the world's dominant form of money and thus the base asset for the entire financial system. On the road to hyperbitcoinisation, there will be a tipping point where governments willingly or unwillingly seed power and move over to a bitcoin-based system. For many Bitcoiners, hyperbitcoinisation is inevitable. However, the path to a hyperbitcoinisation society is unclear and likely difficult. In this interview, I talk to entrepreneur, author & speaker Gary Vaynerchuk and founder of Parallax Digital, Robert Breedlove. We discuss the government response to Bitcoin and the road to hyperbitcoinisation. Hosted on Acast. See acast.com/privacy for more information.

Location: Remotely Date: Thursday 14th January Company: Independent Role: Software Engineer and Author As we are in another Bitcoin bull market, many new people will be considering investing, but understanding what Bitcoin is and why it is important isn't straightforward. Bitcoin is multifaceted, and the use cases can vary dramatically depending on where you live in the world and your circumstances. There is no standard narrative or way of explaining Bitcoin; for example, it is a medium of exchange, a way to bypass government and as an inflation hedge. Others are investing in Bitcoin to speculate against the net benefit of all use cases. To help answer some of the most common questions and lay to bed some of the common misconceptions, I talk to software engineer and author, Vijay Boyapati for the ultimate Bitcoin 101. Hosted on Acast. See acast.com/privacy for more information.

Location: Remotely Date: Wednesday 13th January Company: Independent & Castle Island Ventures Role: Author & Partner Bitcoin adoption is maturing, and veteran traders such as Stan Druckenmiller and Paul Tudor Jones, companies like Microstrategy and institutions like Grayscale and Skybridge have all made moves solidifying its reputation and profile. However, it is still not without its detractors. Arguments regarding scalability, how a deflationary system works and fears of money without government backing are topics of regular discussion. One critic who is quick to highlight Bitcoin's perceived shortcomings is Frances Coppola, and last week on Twitter, Frances caused a stir with comments about the scarcity of bitcoin. In this episode, I moderate a debate between Frances, an economist and financial author, and Nic Carter, a Partner at Castle Island Ventures, to discuss some of Bitcoin's most fundamental questions. Hosted on Acast. See acast.com/privacy for more information.

Location: Remotely Date: Tuesday 22nd December In early 2017, with the Bitcoin price at around $1,200, Didi Taihuttu, his wife and three kids sold their house, cars and everything they owned and invested it all in Bitcoin. They planned to travel the world and live a nomad lifestyle. In 2017, following their decision, the Bitcoin price went to $20,000 before crashing back down to around $3,200. With this volatility, the family had to adjust their lifestyle. However, with Bitcoin hitting new all-time highs of $42,000 last week, their conviction has paid off. Now, four years later, the family are still travelling the world and living off Bitcoin. In this interview, I talk to Didi Taihuttu, and we discuss his decision to sell everything and buy Bitcoin, how the family coped during the bear market and the pros and cons of living a nomad lifestyle. Hosted on Acast. See acast.com/privacy for more information.

Location: Remotely Date: Wednesday 6th January Company: Bitfinex Role: CTO & General Counsel There have been claims that Tether has manipulated the Bitcoin price. Still, JL van der Velde, CEO of both Bitfinex and Tether, denied the allegations stating "Bitfinex nor Tether is, or has ever, engaged in any sort of market or price manipulation. Tether issuances cannot be used to prop up the price of bitcoin or any other coin/token on Bitfinex." As well as market manipulation there have been calls for a full audit of the Tether reserves amidst claims that the stablecoin is not fully reserved. In this interview, I talk to Paolo Ardoino & Stuart Hoegner the CTO & General Counsel at Bitfinex. We discuss Tether FUD, the claims of not being fully backed and price manipulation. Hosted on Acast. See acast.com/privacy for more information.