153 - Why Crypto is Underrated with Tyler Cowen
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 16 January 2023
⏱️ 60 minutes
🧾️ Download transcript
Summary
✨ DEBRIEF | Unpacking the Episode:
https://shows.banklesshq.com/p/tyler-cowen-debrief
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Tyler Cowen is an American economist, columnist, and blogger. He’s also a professor at George Mason University, where he also produces the Conversations with Tyler podcast with guests like Vitalik Buterin. Marc Andreessen, and Ray Dalio.
In today’s episode, Tyler shares why he thinks regulators should pause and wait before passing crypto regulation in the wake of FTX, how FTX and Enron are similar, why he calls himself a crypto-hopeful (even though he thinks Balaji’s Network State idea is utterly wrong). And finally, we play Tyler's favorite game—Overrated vs. Underrated—about everything relevant in 2023: Crypto AI, Inflation, America, China, Social Media, Wealth Inequality, and more.
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Topics Covered
0:00 Intro
6:10 Tyler’s 2023 Crypto Thoughts
6:50 Why Crypto is Confusing
9:04 Is Crypto Overrated?
10:25 Is Crypto Worth it?
12:19 Regulation
19:33 On-Chain Privacy, Taxes, Surveillance
24:00 FTX vs. Enron
27:35 Wealth Inequality
32:05 Crypto Regulation vs. Innovation
34:48 Can the U.S. Choke Crypto?
36:24 Crypto vs. the Internet
37:56 Whose at Fault for FTX?
40:00 Crypto Self-Regulation
45:16 A.I. Regulation
46:46 A.I.’s SBF Moment?
48:05 Is the Future Closer than it Appears?
50:31 Human Self-Regulation
51:16 Economists & Crypto
53:20 Vitalik
54:16 Free Markets & Greed
55:21 Overrated vs. Underrated
1:00:24 Balaji’s Network State
1:01:47 Banks
1:02:15 Closing & Disclaimers
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Resources:
Tyler on Twitter
https://twitter.com/tylercowen
Tyler’s Blog
https://marginalrevolution.com/
Tyler’s Podcast
https://conversationswithtyler.com/
Beware the Dangers of Crypto Regulation
https://www.washingtonpost.com/business/beware-the-dangers-of-crypto-regulation/2023/01/03/27f6f31a-8b63-11ed-b86a-2e3a77336b8e_story.html
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
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Transcript
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| 0:00.0 | Welcome to Bankless, where we explore the frontier of internet money and internet finance. |
| 0:11.6 | This is how to get started, how to get better and how to front run the opportunity. |
| 0:14.5 | This is Ryan Sean Adams, I'm here with David Hoffman, and we're here to help you become |
| 0:18.8 | more bankless. |
| 0:20.1 | Guys, special treat today. |
| 0:21.2 | We have Tyler Cowan on the podcast, Tyler is an economist, he's a columnist, he's |
| 0:25.5 | a polymath, he makes the case for why crypto is underrated. |
| 0:29.9 | I feel like we need this case right now as we enter 2023. |
| 0:33.5 | Three things to look for in this episode, number one, why Tyler thinks regulators should |
| 0:37.5 | pause and wait before passing crypto regulation, especially in the wake of FTX. |
| 0:42.6 | This would be the absolute worst time to do it. |
| 0:45.0 | Tyler makes that case. |
| 0:46.0 | Number two, we talk about how FTX and Enron are similar in the lessons we should all |
| 0:50.9 | learn from those two events. |
| 0:52.5 | Number three, why Tyler thinks crypto is underrated? |
| 0:55.8 | Why he calls himself a crypto hopeful, even though he thinks bilogies. |
| 0:59.9 | Network stake idea is utterly wrong, a complete farce, and finally, we play Tyler's favorite |
| 1:04.6 | game near the end, overrated, underrated, we talk about everything that's relevant right |
| 1:08.5 | now. |
| 1:09.5 | AI, inflation, America, China, social media, wealth inequality, these things overrated, |
| 1:13.8 | or underrated, David, we had a lot to talk about during the debrief, what do you want |
| 1:17.9 | to focus on? |
... |
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