Fully Vested
Full Derp for Crypto
Episode Summary
This week we discuss several interesting aspects of the cryptocurrency markets including the impact of Elon Musk and Tesla, Dogecoin, the environmental impacts of proof of work and various government/regulatory responses to cryptocurrencies.
Episode Notes
General
Subscribe to Fully Vested at FullyVested.co or through your podcast app of choice.
Overview
- Cryptocurrency markets have seen their biggest bull run yet. After a pretty docile couple years since the last bubble in late 2017.
- Crypto prices began picking up in Q4 2020 as more institutional interest poured into the space. Open interest in Bitcoin (BTC) futures on the CME went from roughly $400M in October 2020 to $1.6B in January 2021. Crypto exchanges saw a similar run-up in volume.
- Meanwhile, Ethereum (ETH) also began to see some price traction starting in mid-Q3 2020. Ethereum, a blockchain platform which enables decentralized applications, also started to firm up plans for Ethereum 2.0, which would take the platform away from Proof of Work and toward Proof of Stake
- At time of recording, both Bitcoin and Ethereum hit all-time highs in Q2 2021. Ethereum hit nearly $4,400 per coin on Coinbase in mid-May and Bitcoin hit roughly $65,000 in mid April.
Other weird side-tangents
- Elon Musk and Tesla's will-they won't-they stance on Bitcoin
- Environmental impacts of proof-of-work
- Currency controls and banking restrictions imposed by non-U.S. financial regulators (e.g. China)
About The Co-Hosts
- Jason D. Rowley is a researcher and writer at Golden.com. He volunteers with startup outreach for the open-source community and sends occasional newsletters from Rowley.Report.
- Graham C. Peck is a Venture Partner with Cultivation Capital and additionally helps companies build technology development teams in partnership with Brightgrove and other technology development organizations.