13 Years On, The Significance of ‘Chancellor on the Brink of Second Bailout for Banks’

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 4 January 2022

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo, Abra and FTX US. Thirteen years ago today, Satoshi released the Bitcoin Genesis Block - block 0. Embedded in it was a quote, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks." In today’s episode, NLW explores the meaning and historical context of the inclusion. Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW - Nexo is a powerful, all-in-one crypto platform where you can securely store your crypto. Invest, borrow, exchange and earn up to 17% APR on Bitcoin and 20+ other top coins. Insured for $375M. Audited in real-time by Armanino. Rated excellent on Trustpilot. Get started today at nexo.io. - Abra is proud to sponsor The Breakdown. Join 1M+ users and Conquer Crypto with Abra, a simple and secure app where you can trade 110+ cryptocurrencies, get 0% interest loans using crypto as collateral, and earn interest with up to 14% APY on stablecoins and 8.15% APY on Bitcoin. Visit Abra.com to get started. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is Time by OBOY. Image credit: Rob Mitchell, CoinDesk.

Transcript

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0:00.0	Bitcoin, as I mentioned, was a very different type of protest. It made a determination on the root
0:05.3	cause of the problem of this system, in this case at the most surface level, the ability for
0:10.7	a central bank to even consider bailing out a traditional financial institution. Instead of just
0:16.1	calling that out, Bitcoin actually offered an alternative to how the system was designed.
0:22.6	Welcome back to The Breakdown with me, NLW.
0:26.9	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:32.6	The breakdown is sponsored by nexo.io, Abra, and FTX, and produced and distributed by CoinDesk.
0:40.5	What's going on, guys? It is Monday, January 3rd. Welcome to the first work week of the new year.
0:48.9	Now, today is a day of much historical significance in Bitcoin, and I'm excited to do a little bit of a
0:56.8	retrospective historical episode. First, though, a little housekeeping. First up, sponsors. This show is
1:03.8	sponsored by nexo.io, the all-and-one crypto platform for storing and earning interest on your
1:08.8	crypto, Abra, a simple and secure app for
1:11.6	trading crypto and getting crypto collateralized loans, and FTCX, the safe, regulated way to
1:16.6	buy digital assets with up to 85% lower fees than competitors. And of course, as a disclosure,
1:22.6	I also help run marketing at FTX. Second, how you guys can support the show. First, rate, review, subscribe,
1:30.5	all of those things actually really help people discover the show, which is good for growing the
1:35.0	community of listeners around. Speaking of which, if you want to join the community, the best place
1:39.8	to have discussions around these topics, other types of things you want to see on the show,
1:44.9	macro topics, anything really at all, come join the Breakers Discord.
1:49.1	The link is in the bio, and it's a growing community with a lot of really interesting
1:52.5	perspectives that I'm really enjoying.
1:54.5	But now to the show.
	...

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