Bitcoin Borrowing & Lending Markets with Zac Prince - WBD323
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 19 March 2021
⏱️ 92 minutes
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Summary
Location: Remotely Date: Tuesday 16th March Company: BlockFi Role: CEO
BlockFi is a platform that brings financial services to bitcoin, and with their platform, you can earn interest on bitcoin deposits and take out collateralised loans.
While BlockFi has operated successfully in the space for several years and survived market challenges, such as the March 2020 crash, Bitcoiners often criticise their business model.
"Not your keys, not your coins" is an important message regarding bitcoin, and some view custodial lending platforms as antithetical to this, questioning whether 6% interest per year is worth the risk on an asset that, on average, appreciates 200% a year.
While it is a personal choice, there is also a subset of bitcoiners that spread misinformation and unsubstantiated claims against BlockFi and other lending platforms.
To address the risk-reward of BlockFi and answer some of the questions & misconceptions, I talk to BlockFi CEO Zac Prince. We discuss building the present and future of Bitcoin capital markets, the demand for crypto-liquidity and BlockFi's solutions to the challenges of managing risk in this growing financial frontier.
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Transcript
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| 0:00.0 | If Bitcoin gapped up 50% tomorrow with no liquidity in between Block Fight would be fun. |
| 0:07.4 | We would be better than fun. We would be like popping champagne alongside everyone else. |
| 0:12.3 | Hello there from Bedford in the United Kingdom, |
| 0:16.1 | the Bitcoin capital on the world. |
| 0:18.3 | How are you all doing? |
| 0:19.5 | You having a great week? |
| 0:21.5 | Pretty good stuff with Bitcoin right now, isn't it? It's edging back to new all-time |
| 0:26.0 | highs. We tap 60K. It's going to get back there, right? And then we're going to hit 70K. I think 100K is inevitable. What a year! I hope you're all enjoying it as much as I am. |
| 0:37.0 | Anyway, welcome to the What Bitcoin did podcast, which is brought to you by the mighty Crackhan, the best place to buy, sell and trade |
| 0:43.8 | Bitcoin. I'm your host Peter McCormack and today I've got an interview which a lot of |
| 0:48.2 | you have been asking for with the CEO of Block Fye, Zach Prince, where we're going to be discussing borrowing and lending markets. |
| 0:55.1 | But before that, I do have a message from my show sponsors. |
| 0:58.4 | Okay, today we're kicking off with Sports Bet. |
| 1:01.0 | I.O. |
| 1:01.9 | The best place for online gaming because they accept |
| 1:03.8 | Bitcoin but not just because of that. I got off the phone with the team a few days |
| 1:09.6 | ago and I have convinced them to give away two Lamborghinis. |
| 1:14.0 | Yes, can you believe it? |
| 1:16.0 | They're going to be given away two Lamborghinis. |
| 1:18.0 | Now, I did insist as part of the deal that I need to have one of those |
| 1:22.0 | to ensure the credibility of the competition and they agreed so |
| 1:26.4 | that's pretty cool but there will be another one which will be given away. |
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