BREAKDOWN: The Definitive Breakdown of All Bitcoin FUD, With Dan Held
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 14 January 2021
⏱️ 46 minutes
🧾️ Download transcript
Summary
From “backed by nothing” to “China mining control,” a complete look at the best response to every category of bitcoin FUD out there.
This episode is sponsored by Nexo.io.
On today’s episode of The Breakdown, NLW is joined by Dan Held, growth lead at Kraken and a serial bitcoin entrepreneur.
As the market heats up, so, too, does the number of articles and tweets spreading FUD (fear, uncertainty and doubt). Some of the FUD is new, much of it is old and all of it deserves a response.
Dan and NLW break down 15 categories of FUD, including:
- Bitcoin is for criminals
- Bitcoin is backed by nothing/has no intrinsic value
- Tether manipulation
- Energy consumption
- Government bans
- And more!
Which are the most legitimate? Which are easily dismissed? Tune in to find out.
Find our guest online:
Twitter: @danheld
Website: danheld.com
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Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.
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Transcript
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| 0:00.0 | People had the same reaction to cars, airplanes, radios, and even the bicycle. Bitcoin is just |
| 0:06.4 | another new piece of technology that's very new, very innovative. Whenever that much change occurs, |
| 0:12.0 | people's minds have trouble grasping it, and that's where Fudd gets created. |
| 0:17.0 | Welcome back to The Breakdown with me, NLW. |
| 0:26.2 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:33.0 | The breakdown is sponsored by nexo.io and produced and distributed by CoinDesk. |
| 0:42.0 | What's going on, guys? It is Thursday, January 14th, and today we are doing something fun. |
| 0:48.3 | We're going to do a little bit of fud-busting. Bitcoin is climbing back up. At the time of recording, |
| 0:56.5 | we had at least briefly reclaimed 40,000. And even regardless of the short-term price movement, there's no denying what a crazy early 2021 this industry has had. Of course, with such a huge new bull momentum going into this year, |
| 1:05.7 | that's going to bring out a lot of different criticism, critiques, and just outright fud, fear, uncertainty, and doubt. |
| 1:13.5 | Bitcoin and crypto as a whole have had a number of long-term fud cycles. There are many things |
| 1:19.0 | that have come up again that we've been talking about for three or four years. Sometimes |
| 1:24.1 | Bitcoiners reasonably get frustrated having to rehash the same arguments, to relitigate the same |
| 1:31.4 | debunked papers, theses, etc. But at the end of the day, with a whole new set of people coming in, |
| 1:37.2 | some of these ideas are going to keep coming up. And so what I thought would be fun would be to |
| 1:42.0 | have someone who has put himself in a position |
| 1:44.3 | to continuously squash whack-a-mole-style different types of fud across three different cycles of |
| 1:50.8 | Bitcoin, Dan held. Dan is a serial Bitcoin entrepreneur. He was currently at Cracken after they |
| 1:56.5 | acquired his last company. And you probably know him from his newsletter, his YouTube, |
| 2:00.7 | or from his |
| 2:01.4 | Twitter. So what Dan and I are going to do is rip through 10 to 15 different areas of FUD. We're |
| 2:07.5 | going to talk about how prominent it is this cycle, and we're going to talk about almost kind of |
... |
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