4.8 • 689 Ratings
🗓️ 25 February 2020
⏱️ 23 minutes
🧾️ Download transcript
The spread of Coronavirus has dominated the news cycle across industries, but the discussion has been particularly fierce in both the finance and tech worlds, with crypto right in the lead.
For a month or more, prominent crypto voices have been discussing the event in terms of skepticism of reported government cases, questions of market impact, and plans for personal preparation.
NLW surveyed more than 1500 people on Crypto Twitter to ask why crypto was so interested in the Coronavirus.
These were their top answers.
This episode of The Breakdown also features an excerpt from Hidden Forces Ep 123: Market Nihilism: Price Discovery in a World Where Nothing Matters | Ben Hunt & Grant Williams
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0:00.0 | Welcome back to The Breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond, with your host, NLW. |
0:15.0 | The Breakdown is distributed by CoinDesk. |
0:20.4 | Welcome back to the Breakdown. |
0:22.6 | It is Tuesday, February 25th, and today we are going to focus our conversation on answering |
0:29.6 | why the crypto community seems so interested in the coronavirus. |
0:33.6 | I did a poll yesterday that more than 1,500 people responded to that I think says a lot |
0:39.1 | about why you're seeing such an inordinate amount of conversation about a public health issue |
0:44.1 | in a theoretically financially technology-minded community. But first, I did want to run through |
0:49.8 | just a few follow-ups to stories we've been following for the last few weeks. So let's kick it off |
0:55.4 | with that and then we'll get into our main topic. A few weeks ago, I had Tyrone Ross on the show. |
1:01.0 | Now, Tyrone is a financial advisor who's heavily involved with making sure that crypto makes it |
1:06.7 | to mainstream audiences, right? Make sure that it gets to the people who need it the most. And |
1:12.2 | when I asked him what he thought the most significant company in the crypto space was going to be, |
1:18.1 | he said, bar none, no question, not even close, it was Cash App. And his reasoning was that |
1:23.6 | basically Cash App is the way that people are interacting, regular people are interacting |
1:28.7 | with money in a way that is totally different than other applications, right? And so you might |
1:33.9 | look at a Binance or a Coinbase and say that's really important to the crypto community, |
1:37.3 | but the vast majority of people in his estimation who are going to come into this space over the |
1:42.2 | next couple years are going to be through |
1:44.3 | apps like Cash App and specifically Cash App. But Cash App, however, isn't the only company |
1:49.9 | in that space who is trying to disrupt banks through a mobile first experience. Another big |
1:55.1 | competitor in that area is Revolut. Revolut offers both traditional stock buying as well as cryptocurrency buying and just |
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