All Roads Lead to Bitcoin with Checkmate - WBD712
Mr Obnoxious
Peter McCormack
4.8 • 2.7K Ratings
🗓️ 20 September 2023
⏱️ 119 minutes
🧾️ Download transcript
Summary
Checkmate is Glassnode’s Lead On-chain Analyst and creator of checkonchain. In this interview, we discuss Bitcoin investing and market analysis, Bitcoin as a hedge against inflation and housing market bubbles, the current economic situation, the potential future role of Bitcoin as a settlement currency for nation-states, and the power and unstoppable nature of Bitcoin.
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Checkmate is one of the best on-chain analysts, leading Glassnode’s on-chain research and data analysis, and also creating checkonchain to provide a suite of Bitcoin on-chain charts. This show’s discussion therefore focused on the Bitcoin market and trends, including the impacts of Luna and FTX on market sentiment. We also delved into the concept of profit and how it can be measured, and the importance of understanding market indicators and making informed decisions.
Our conversation also took in the macroeconomic situation. We discussed the housing market and the potential risks involved in buying a house. We discussed the high ratio of median house prices to median income in Australia, Canada, and New Zealand, referring to it as a "Ponzi scheme." We also considered the current economic situation: its challenges and the need for individuals to be aware of how the system works.
Specifically, people need to be aware of the impact of inflation and taxes on their finances. Whilst Bitcoin is a hedge for some, others feel the need to speculate and gamble on markets in the fiat system. Argentina is a valuable example in this context, as Argentinians need to manage their money in the face of triple-digit inflation. As people’s wealth can rapidly evaporate in such circumstances, it brings into sharp relief the concept of money as a proxy for time.
Towards the end of our conversation, we talked about the power and unstoppable nature of Bitcoin: Bitcoin's design assumes human greed and self-interest, which makes it a powerful and unstoppable organism. Checkmate also provided his opinion on the potential future role of Bitcoin as a settlement currency for nation-states, speculating that nation-states may start testing Bitcoin as a liquid layer on top of their gold reserves, driven by the involvement of oil producers.
Show notes: https://www.whatbitcoindid.com/podcast/all-roads-lead-to-bitcoin
This episode’s sponsors:
Iris Energy - Bitcoin Mining. Done Sustainably
Bitcasino - The Future of Gaming is here
Ledger - State of the art Bitcoin hardware wallet
Wasabi Wallet - Privacy by default
Unchained - Secure your bitcoin with confidence
OrangePillApp - Stack Friends Who Stack Sats
Transcript
Click on a timestamp to play from that location
| 0:00.0 | 0.1% to 1% is gargagantuan numbers. |
| 0:03.4 | Just extraordinary numbers, right? |
| 0:05.2 | If Bitcoin does in fact achieve 1% balance, cheat capacity everywhere, |
| 0:09.7 | it makes a lot of sense. |
| 0:10.6 | It's the perfect currency to settle between enemies for oil which creates enemies. |
| 0:15.0 | Hello there from Bedford. How are you all? Yes. I got back from Lebanon yesterday. What an amazing profound |
| 0:21.6 | trip. I cannot wait to get the film out to show you what I saw |
| 0:25.5 | Also, I can't wait to talk about it with people. You learn a lot about Bitcoin when traveling |
| 0:29.1 | Things you can't read in the book things you can't get from the podcast and so yeah I'm looking forward to talking about my experiences and I also do I just want to say a massive |
| 0:38.0 | thanks also to everybody who helped a whole bunch of people came out to Lebanon or were in Lebanon and helped us with making this film. |
| 0:44.3 | So sorry if I forget someone, but massive thanks to Ralph, Tony, |
| 0:49.3 | Francois, Elie, Ralph's amazing wife Joanna, Salo, Toofy, God I've definitely missed someone out. |
| 0:57.4 | Ralph's dad, who have I forgotten? |
| 0:59.7 | If I've forgotten someone, I'm very sorry, but you know I love you and I thank you all so much for |
| 1:04.0 | your hospitality and help him putting this film together. And speaking of which I obviously want to say a |
| 1:09.9 | massive thanks to Iris Energy because without them I couldn't do this that you know they came to me |
| 1:15.2 | last year was it last year or this year I think it was the end of last year perhaps this |
| 1:19.5 | year I don't know it's all blown into one but said how can we help you what do you want to do what do you need |
| 1:24.8 | to do peat and I said well I need to make a podcast but I want to make some more films and |
| 1:28.3 | they fully backed this and they said look here's the money go make every film you want to make. |
| 1:32.6 | So listen, a massive shout out to everyone at Iris Energy, |
| 1:35.8 | specifically Dan and Will Roberts for backing me and Danny and all the things |
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