‘If You’re Not Radicalized, You’re Not Paying Attention’ Feat. Nic Carter

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 31 March 2020

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this wide-ranging discussion, Castle Island Ventures founding partner and Coin Metrics co-founder Nic Carter joins @NLW to discuss: Why corporations weren’t adequately prepared for any serious economic trouble, much less a global pandemic Why government backstopping the corporations leads to inappropriate risk-taking How stock buybacks became a boogeyman of the current crisis Why the crisis is actually four crises in one: health, economic, financial, and geopolitical How Covid-19 could accelerate the US’ withdrawal from the world and China stepping into the void Why the response to the handling of Covid-19 could lead some to authoritarianism How stablecoins are allowing global market exposure to the world’s most in-demand currency: the USD Why stablecoins and central bank digital currencies look the same but are functionally opposite Why a ‘naive safe haven’ narrative was never correct for bitcoin Why bitcoin was designed for exactly this type of moment.

Transcript

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0:00.0	Welcome back to The Breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond, with your host, NLW.
0:15.0	The Breakdown is distributed by CoinDesk.
0:20.0	Welcome back to The Breakdown.
0:22.0	It is Tuesday, March 31st, and today my conversation is with Nick Carter.
0:27.7	Nick is the founding partner of Castle Island Ventures.
0:31.5	He's the co-founder of Coin Metrics.
0:34.2	He's known for his incisive and eloquent essays on medium, and generally for being
0:40.2	just a really broad thinker in the space. So originally I wanted to have Nick on to talk about
0:46.9	the difficulty adjustment that happened last week and some of the Bitcoin mining properties
0:51.0	coming up in Bitcoin mining narratives that I'm seeing emerge. But instead,
0:54.8	where we ended up taking the conversation was a much broader look at the way that this set of
1:00.1	crises, a health crisis, an economic crisis, a financial crisis, and a potential geopolitical
1:06.5	crisis are cascading into one another. We talk a lot about crypto dollarization and how stable coins
1:13.1	are allowing people to opt out of their local monetary regimes and into what is currently
1:18.8	the most in-demand currency in the world, which is the U.S. dollar. We talk about Bitcoin and where
1:24.4	its narrative status is and whether people should be frustrated or whether the
1:28.9	principles behind Bitcoin and what makes it so unique and special have been functioning
1:32.9	just as they're supposed to.
1:34.9	So it's a really wide-ranging conversation.
1:37.0	It was super fun to have.
1:38.5	Now, as always, caveat with long interviews, we edit these very, very minimally to capture the feel and
1:45.0	flare of the whole conversation. But that said, let's dive in.
	...

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