BREAKDOWN: The Case for $500,000 Bitcoin
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 30 August 2020
⏱️ 25 minutes
🧾️ Download transcript
Summary
The Winklevoss brothers make an argument that, in the long run, bitcoin is the only good safe haven.
This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
This week’s episode of Long Reads Sunday is a reading of the latest essay from Tyler and Cameron Winklevoss.
The essay looks systematically at the problems of the slate of current store-of-value assets, including the U.S. dollar, oil and gold.
The brothers argue why those assets have, or are starting to have, value in their safe haven function, while bitcoin is on the rise.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome back to The Breakdown with me, NLW. |
| 0:08.2 | It's a daily podcast on macro, Bitcoin, and the big-picture power shifts remaking our world. |
| 0:14.0 | The breakdown is sponsored by crypto.com, BitStamp, and nexo.io, and produced and distributed by CoinDesk. |
| 0:23.7 | What's going on, guys? It is Sunday, August 30th, and that means this is Long Reads Sunday. |
| 0:31.2 | Long Reads Sunday is the episode where I find a piece that I thought was particularly interesting |
| 0:36.1 | and read it for you guys. Hopefully it saves |
| 0:39.0 | you some time. It allows you to listen to some great content while you're on the run or doing |
| 0:43.3 | work or whatever it is. This week's selection was actually really easy because as soon as I saw |
| 0:48.1 | Tyler Winklevoss drop the essay, The Case for $500,000 Bitcoin, I knew I had to focus there. Now, going into this, I didn't |
| 0:58.4 | love their analysis of Bitcoin for Dave Portnoy, specifically in the context of asteroid mining. |
| 1:05.5 | In fact, that was even the subject of a previous Longreed Sunday. However, if you're going to make an argument for half |
| 1:12.3 | million dollar Bitcoin, I'm going to listen, so let's see what they had to say. |
| 1:17.1 | Golden Oil have historically been reliable stores of value. Because they are scarce commodities, |
| 1:22.4 | they make dependable hedges to the inflation of fiat currencies. As a result, they have commanded price premiums above and |
| 1:29.7 | beyond the demand for their consumption alone. For the last 75 years, the U.S. dollar has also been a |
| 1:35.8 | reliable store of value. This is a result of its comparatively good management by the Federal Reserve |
| 1:40.9 | and the strength, resilience, and reputation of the U.S. economy. |
| 1:45.2 | In fact, it is the most widely held fiat currency in the world and recognized as the global |
| 1:50.0 | reserve currency, denominating and settling the majority of international trade. |
| 1:54.7 | With that said, we believe that there are fundamental problems with gold, oil, and the U.S. |
| 1:58.8 | dollar as stores of value going forward. Below, we will make the case that Bitcoin is ultimately the only long-term protection against |
| 2:06.6 | inflation. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from CoinDesk, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of CoinDesk and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.