BTC056: Bitcoin Fear, Uncertainty, & Doubt (FUD) w/ Dan Held (Bitcoin Podcast)

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 15 December 2021

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

IN THIS EPISODE, YOU’LL LEARN:

03:01 - Does Bitcoin have any intrinsic value?
07:01 - Bitcoin uses too much energy consumption.
19:47 - Governments can kill Bitcoin.
30:50 - Bitcoin looks and feels like a bubble.
34:14 - Bitcoin is too volatile.
36:33 - Bitcoin is manipulated.
37:38 - Regulation in the coming year.
52:36 - What is the lightning network?
57:41 - Alt Coins are everywhere, why does Bitcoin win.

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

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Transcript

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0:00.0	You're listening to TI P.
0:30.0	You're listening to Bitcoin Fundamentals by the Investors Podcast Network.
0:37.0	Now for your host, Preston Pish.
0:40.0	Hey everyone, welcome to the show. I'm here like I said in the intro with Dan Hell. Dan, welcome back to the show.
1:04.0	Thanks for having me, Preston.
1:06.0	So Dan, if you're Thanksgiving was anything like my Thanksgiving, we're around the table. There's family friends there. Everybody's talking about various things and of course what comes up. Bitcoin comes up and of course, and Sally, Uncle Joe.
1:20.0	Everybody's got their opinion as to what this is, what this isn't, and you start hearing some of these arguments.
1:26.0	Now, some of the things that we're going to cover on this show are things that I've covered on the show in the past. I wanted to sit down with somebody that can explain it very simply.
1:36.0	And in a way that anybody can get it, and we can get into the complexity, but like let's start with some of these FUD, the fear, uncertainty, doubt, arguments that you hear from the family members or people that hear about Bitcoin and passing.
1:49.0	And let's just go by the numbers on some of these.
1:52.0	You know, one I want to say, even in the held House, hold, we still have Thanksgiving debates about Bitcoin. So even though my parents have been orange, been orange-pilling them over nine years, they still have questions.
2:04.0	So just to let you know, if you feel a little frustrated with the parents, feeling a little frustrated with the extended family, you're not alone.
2:10.0	Going to the club, yeah, it's, you know, there's also those, I remember the first time I brought up Bitcoin was November 2012. And I think my dad was worried I was selling drugs.
2:19.0	At that time, Bitcoin's only association was with Silk Road. Yeah, money, you know, money laundering, a drug deal, and he's a CPA. So he was super worried. He was like, oh, man, are you like selling drugs online?
2:29.0	So it wasn't to, it's gotten a lot better since then there's a lot more clarity and they're orange-pilled. So, but yeah, you've just come back from Thanksgiving.
2:38.0	I'm sure there was some frustrating conversations and sure there was a lot of exciting ones.
2:42.0	And I'm really excited to date a dive in with Preston here because these are, I think some, you know, with FUD, I hear these all the time.
2:49.0	Friends, co-workers, family, even lovers back, you know, over the years, you know, they were all, they all had questions about Bitcoin.
2:56.0	So I've kind of heard all these before and going into Christmas, you're going to get a lot more.
3:01.0	Here's the first one, Dan. But it has no intrinsic value. So cover this one.
3:07.0	Well, the first thing to say to that is, oh, you mean like the US dollar would be a nice retort going in further.
3:14.0	If they believe in the existing monetary system, they usually trust in the Federal Reserve.
	...

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