BREAKDOWN: 9 Reasons Why Bitcoin Has Never Been Stronger Going Into a Halving
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 7 May 2020
⏱️ 21 minutes
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Summary
This episode is sponsored by ErisX, The Stellar Development Foundation and Grayscale Digital Large Cap Investment Fund.
The bitcoin halving is just a few days away and the growing excitement is palpable. On this episode of The Breakdown, NLW argues that the excitement is also legitimate, and looks at nine reasons why bitcoin has never been stronger going into one of its every-four-year issuance reductions:
- Price
- Hash rate
- Mining competition
- Accessibility and Services
- Infrastructure
- Institutional awareness and participation
- Narrative relevance
- Perceived and real resilience
- Lindy effects
Oh, and let’s not forget. Paul Tudor Jones just disclosed that he is invested in bitcoin and sees it as a hedge against ‘great monetary inflation’
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Transcript
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| 0:00.0 | Check up Bitcoin surging more than 15% this week, our very own crypto baller, says another big breakout could be coming. |
| 0:06.1 | So, BK, how many days is it till they halving? |
| 0:09.5 | It's about 11 days to the halve it. |
| 0:11.9 | And so what that means, what people should know is that, as the whole world is quantitative easing, Bitcoin's about to be quantitative hardening. |
| 0:20.6 | So they're going to cut the daily supply. So they're going to cut the daily supply. |
| 0:22.6 | The software is going to cut the daily supply. It doesn't mean that the price of Bitcoin is being cut in half. |
| 0:27.6 | It just means that the daily supply is being cut in half. You might want to think about it like oil, |
| 0:32.6 | where all of a sudden in 11 days, half the oil rigs are turned off, and so therefore, that supply |
| 0:37.9 | gets reduced. In the past, this has been a catalyst for very, very, very big run-ups. |
| 0:43.8 | We've had a tremendous run-up coming into this. It's got some wood to chop around 9,000. |
| 0:48.3 | But I think in the medium to long term, you now have an asset that is going to be more scarce |
| 0:53.1 | than gold based on the stock-to-flow |
| 0:54.6 | ratio in an environment where the entire world is printing money. |
| 0:58.6 | Welcome back to The Breakdown, an everyday analysis breaking down the most important |
| 1:03.0 | stories in Bitcoin, Crypto, and Beyond. |
| 1:05.9 | This episode is sponsored by ArisX.com, the Stellar Development Foundation, and grayscale digital large-cap |
| 1:12.6 | fund. The Breakdown is produced and distributed by Coin Desk. Here's your host, NLW. Welcome back |
| 1:22.4 | to The Breakdown. It is Thursday, May 7th, and for those of you keeping track on that clip from CNBC's Fast Money |
| 1:29.7 | with Brian Kelly, you just heard one, quantitative hardening in the face of quantitative tightening, |
| 1:35.6 | two, makes sense comparison between Bitcoin mining and oil rigs as it relates to the having, |
| 1:42.0 | and three, an argument that Bitcoin will be more scarce than |
| 1:45.0 | gold based on the stock to flow ratio. Ladies and gentlemen, today we are talking Bitcoin |
... |
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