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The Breakdown

Crypto Daily 3@3 - 7.12 | Special Edition: Trump Gives Bitcoin A Mainstream Moment

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 12 July 2019

⏱️ 25 minutes

🧾️ Download transcript

Summary

A very Trump-y special edition! On this episode, we look at 1) what happened with Trump’s Bitcoin/Libra tweet; 2) the crypto community’s response; 3) the surprisingly with it mainstream media response; and 4) what it means going forward and why we need to build our own public story so that a technology with massive potential to enshrine freedom and individual sovereignty doesn’t become defamed and criminalized.    Note for listeners; the second half or so of this clip is discussion from Twitch live chat. This usually doesn’t happen but with such big news there was quite a bit of excitement to discuss. Let me know if you like this or if I should cut it off for the future.    For those who want to watch, check out the replay at: https://www.twitch.tv/nlwcrypto https://www.youtube.com/nathanielwhittemorecrypto   Follow me on Twitter: https://twitter.com/nlw

Transcript

Click on a timestamp to play from that location

0:00.0

All right, check, check. What is going on, everyone? How's it going? How's it going? You guessed it. We are talking Monsieur Trump today. I decided that this is kind of a big enough moment, I think, that instead of the three at three,

0:23.2

we're just going to give the entire, usually it's about 10 minutes that this all takes to this very particular topic, right?

0:32.6

We'll get into a bunch of different pieces of it.

0:35.3

So what happened?

0:36.2

We'll get into the response.

0:37.8

We'll talk about the media response is really interesting.

0:40.4

And then we'll talk about some like things, thinking forward, going forward, what this all means.

0:45.5

Shout out to Crypto Scam Hub for this awesome meme photo.

0:51.4

Crypto Mem Central, you can find them here.

0:54.0

But yeah, so let's dive in. So unless you are

0:57.6

living under a rock or just somewhere totally away from crypto Twitter, you saw this last night.

1:05.3

Last night, the internet, at least our little portion of it, totally exploded. When Donald Trump got on his tweet machine

1:13.0

and said, I am not a fan of Bitcoin and other cryptocurrencies, which are not money and whose

1:17.9

value is highly volatile and based on thin air. Unregulated crypto assets can facilitate on lawful

1:23.1

behavior, including drug trade, another at least at activity. Similarly, Facebook's Libra's

1:27.4

virtual currency

1:28.1

will have very little standing or dependability. If Facebook and other companies want to become a bank,

1:31.9

they must seek a new banking charter and become subject to all banking regulations, just like

1:35.3

the other banks, both national and international. We have only one real currency in the U.S.

1:38.5

and it is stronger than ever, both dependable and reliable. It is far most dominant currency anywhere in the world. We'll always stay that way. It's called the United States dollar.

1:49.6

So there is a lot to unpack here.

1:52.7

A lot of people thought, did he actually write this?

...

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