BREAKDOWN: Crypto's Liminal Phase
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 20 April 2022
⏱️ 17 minutes
🧾️ Download transcript
Summary
What happens when everything about the market is stuck in transition?
This episode is sponsored by Nexo.io, Arculus and FTX US.
On today’s episode, NLW examines what he is calling “Crypto’s Liminal Phase.” He argues the crypto industry specifically and the macroeconomic landscape as a whole are in a transitional phase. In terms of crypto, he points to a transitory market cycle, regulatory discourse and mass adoption cycle as examples.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Jorm Sangsorn/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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Transcript
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| 0:00.0 | So take this together and what we have is an in-between macro context, which is really an in-between |
| 0:06.4 | geopolitical context, if we're being honest. We also have in-crypto an in-between market cycle, |
| 0:12.3 | an in-between adoption cycle, an in-between regulatory regime. And that's why this is crypto's |
| 0:19.7 | liminal phase. |
| 0:25.5 | Welcome back to The Breakdown with me, NLW. |
| 0:31.4 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:38.0 | The breakdown is sponsored by nexus.io, Arculus, andtX, and produced and distributed by CoinDesk. |
| 0:45.1 | What's going on, guys? It is Wednesday, April 20th, and today we are talking about crypto's liminal phase. Before we dig into that, however, a few housekeeping items. |
| 0:51.6 | There are two, count them two ways to enjoy the breakdown. You can listen to the show |
| 0:56.6 | on the Coin Desk Crypto podcast network feed that includes not only the breakdown but other awesome |
| 1:01.9 | coin desk shows as well. You can also listen on the breakdown only feed, which has just the breakdown. |
| 1:09.2 | Both shows come out on the same day with Coin desk coming out in the afternoon and the breakdown only feed updating in the breakdown. Both shows come out on the same day with CoinDest coming out in the |
| 1:11.9 | afternoon and the breakdown only feed updating in the evening. Whichever feed you listen to, |
| 1:17.1 | if you're enjoying the breakdown, please go subscribe to that feed. Give it a rating, give it a review, |
| 1:23.3 | and if you want to dig deeper into the conversation conversation and what better time is there for a conversation |
| 1:28.5 | than this sort of in-between phase, come join us on the Breakers Discord. You can find a link in the show |
| 1:33.8 | notes or go to bit.le. That's L.Y slash breakdown pod. Also, a disclosure, as always in addition |
| 1:40.5 | to them being a sponsor of the show, I also work with FTX. So to today's topic, |
| 1:46.6 | one of my favorite words is liminal. It means in between relating to the transitional. In anthropology, |
| 1:54.6 | it's usually used to refer to that uncomfortable middle part of a rite of passage, where the participant is no longer who they |
| 2:02.5 | were, but they're also not yet who they're going to become. When it comes to the crypto industry, |
| 2:07.9 | I would argue that this is a pretty liminal moment. Now, one big reason for that is the macro |
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