Andrew Poelstra on Bitcoin Math & Research - WBD085
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 15 March 2019
⏱️ 82 minutes
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| 0:00.0 | Welcome to the What Bit Bitcoin Did Podcast. |
| 0:05.0 | Hi there from Hong Kong. |
| 0:08.0 | How are you all? |
| 0:09.0 | Welcome to the What Bit Bitcoin Did Podcast |
| 0:10.0 | brought to you by Krakhan, the best place to buy, sell and trade digital |
| 0:14.0 | currencies. I'm your host Peter McCormack and today I have an interview with Andrew Polstra |
| 0:18.4 | head of research at Blockstream. But before I do that I have a message from my show sponsors. |
| 0:22.3 | So let's talk about BlockFi and the new announcement. |
| 0:25.0 | They have launched crypto interest accounts. Have you checked them out yet? |
| 0:28.0 | I caught up with Zach, the CEO of BlockFi in New York to ask him some things about this so let's hear what he has to say. |
| 0:33.4 | So Zach you've got a new announcement. |
| 0:35.4 | A very exciting announcement yeah. |
| 0:37.1 | What do you got to tell us? |
| 0:38.1 | So we're launching the BlockFi interest account which is the first time ever that clients of BlockFi can earn compound |
| 0:45.7 | interest on their Bitcoin, paid in Bitcoin. |
| 0:49.4 | Is it like a bank account? |
| 0:50.4 | It is designed like a savings account at a bank where you earn interest every month and then after you've earned that interest you earn more interest on that interest except we're doing it with Bitcoin. |
| 1:00.0 | And one of the main features of the account? |
| 1:03.0 | So we're starting with a 6% annual yield. |
| 1:05.4 | Like I said, it's paid out monthly so that equates to a 6.2% effective return on the year. Assets are |
| 1:13.5 | custody with Gemini and we generate the return by lending the |
| 1:18.1 | Bitcoin to institutional investors who are borrowing it secured by dollars. |
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