BREAKDOWN: Bitcoin vs. QE Infinity and the 4 Archetypes of the Halving Debate
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 27 April 2020
⏱️ 17 minutes
🧾️ Download transcript
Summary
The bitcoin halving is just two weeks away. While the COVID-19 crisis pushed attention off the momentous event for a while, the discussion is coming back fast and strong. Google searches for the bitcoin halving already exceeding the 2016 peak, despite almost no mainstream media coverage.
In this episode, NLW breaks down 4 archetypes of people within the larger debates around the bitcoin halving:
- Speculators - those who flock to Twitter to engage in endless rounds of debate around the efficient market hypothesis and whether the halving is priced in or not
- Fundamentals - those who believe that what matters about the halving isn’t the short-term price movement but the fundamental decrease in supply
- Miners - those who have to actually figure out how to make their business model work in the context of reduced issuance
- Symbologists - those who are focusing on the significance of bitcoin’s issuance reduction coinciding with QE infinity
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Transcript
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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. |
| 0:20.0 | Welcome back to The Breakdown. |
| 0:22.6 | It is Monday, April 27th. |
| 0:24.8 | And this week, I'm actually working on an additional micro series to go alongside the |
| 0:31.0 | breakdown, the normal run. |
| 0:32.5 | And so I'm a little bit more busy than usual with that. |
| 0:35.4 | And so some of these episodes will be a little bit shorter, a little bit more fun, a little bit more punchy than what we've had over the last couple |
| 0:40.9 | weeks. Hopefully you still enjoy it. I'll be sharing more about that new micro series in a few days. |
| 0:47.7 | I'm really excited about it. I think you'll enjoy it. It's got some tweaks to the normal podcast format |
| 0:52.8 | around some very current and contemporary issues. |
| 0:56.3 | But anyways, what that means is that I have a little bit less time to produce this than normal. |
| 1:00.8 | And so I wanted to do something fun today based on a rising trend that I'm seeing. |
| 1:07.1 | In January, before the coronavirus really hit our field of vision and our focus, the thing that we |
| 1:14.5 | were talking about most in the Bitcoin and crypto world was the Bitcoin halving. |
| 1:18.8 | There was a serious debate, which of course has continued, but I think the volume has been |
| 1:22.7 | turned down a little bit on, around whether the halving was priced in. |
| 1:26.8 | And more broadly, just what the implications |
| 1:29.4 | of this Bitcoin having were, right? What it meant for Bitcoin that the block reward was going to be |
| 1:35.9 | cut in half. Did that impact things? Would that impact things in a way that was positive or |
| 1:41.9 | negative? And what were we talking about when we say positive |
| 1:44.6 | or negative? Are we talking about security of the network and minor capitulation? Are we talking |
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