#SupplyGate and the Battle to Frame Crypto’s Next Bull Run

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 13 August 2020

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today on the Brief: WSJ study finds TikTok was tracking data in a way that broke Android rules The latest Core Inflation statistics MicroStrategy stocks pops 10% after cash to bitcoin announcement Our main discussion: What’s the Ethereum #SupplyGate really about NLW breaks down: The historical narratives bitcoiners and ether advocates hold relative to one another The history of dominant narratives in crypto over the last three years Why the next bull market is poised for a twin narrative combining bitcoin as a hedge against fiat debasement and DeFi as a money-making sandbox What happened with #SupplyGate Why #SupplyGate is as much about narrative competition as it is about the supply of ether

Transcript

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0:00.0	First, when it comes to Bitcoin, if we thought there was product narrative fit before,
0:05.2	oh my God. Could there be anything more profound than having your programmatic, predictable,
0:12.0	plan supply reduction happen at the same time that MoneyPrinter go burr and that meme takes
0:18.7	over the world in the context of the COVID response. On the other
0:22.6	hand, we have this financial sandbox doing stupid crazy things that would make the Wolves of
0:28.0	Wall Street's mouthwater if they knew what the hell all these terms actually meant. So this gets us to
0:33.9	the battle. Welcome back to The Breakdown with me, NLW. It's a daily podcast on
0:41.6	macro, Bitcoin, and the big picture power shifts remaking our world. The breakdown is
0:46.9	sponsored by crypto.com, BitStamp, and nexo.io, and produced and distributed by CoinDesk.
0:55.7	What's going on, guys?
0:56.9	It is Wednesday, August 12th, and we're doing it.
1:00.1	We're talking Supply Gate, although this time it's going to be in the context of a bigger
1:04.9	narrative battle that I see emerging as crypto moves into a new bull market.
1:10.8	First, however, let's do the brief.
1:13.7	First up on the brief today, TikTok tracking trouble. A new Wall Street Journal study has found
1:19.7	that TikTok has, in fact, been playing a little loose with data policies. And while it's not a
1:26.3	smoking gun of sharing data with the CCP,
1:29.4	it certainly validates the argument around data practice, malpractice when it comes to TikTok.
1:35.8	So here are the first couple graphs of the Wall Street Journal article.
1:39.6	TikTok skirted a privacy safeguard in Google's Android operating system to collect unique
1:44.0	identifiers
1:44.6	from millions of mobile devices, data that allows the app to track users online without
	...

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