BREAKDOWN: From a $1T Asset to a $100T Network – Everything We Learned About the Bitcoin Mining Council From Michael Saylor's Twitter Spaces

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4.7 • 698 Ratings

🗓️ 17 June 2021

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

With more than 7,000 listeners, Michael Saylor and many North American miners added color to the initiative. This episode is sponsored by Nexo.io and Bitstamp. On today’s episode of “The Breakdown,” NLW first follows up on yesterday’s episode about the FOMC meeting and a potential future shift in Fed policy. As many expected, the Fed kept its short-term policy the same, but revised forward its estimates for when it will begin rate hikes to 2023. The main discussion focuses on the latest from the Bitcoin Mining Council. Yesterday, MicroStrategy CEO Michael Saylor hosted a 90-minute discussion via Twitter spaces that featured many pointed questions. NLW argues that what’s clear from the session is Saylor is focused on scaling bitcoin from a $1 trillion asset to a $100 trillion network and fighting anything that stands in the way. - Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io. - Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net. - Image credit: CoinDesk TV See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:43.9	Wondery, UK. That's audible.com slash Wondery UK. Some worried that no matter what the
0:51.3	intention, the group might still represent a subtle but real centralization threat.
0:55.5	Many were blasé about the whole thing, saying it's fine if it gets some good PR, but ultimately
0:59.8	it's irrelevant for the functioning of the protocol.
1:02.5	Interestingly, though, the most common reaction was a strong agreement with Michael Saylor
1:07.3	about the need for more organization.
1:10.1	The line that came up and resonated over
1:12.4	and over and over was his argument that we can be decentralized without being disorganized.
1:18.5	It seems clear to me that many are recognizing just how loud the chorus of environmental critics
1:23.8	is growing. Welcome back to The Breakdown with me, NLW.
1:29.9	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
1:36.1	The breakdown is sponsored by nexor.io and BitStamp and produced and distributed by CoinDess.
1:43.5	What's going on, guys? It is Thursday, June 17th, and today we're discussing everything we
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