The New/Old Bitcoin FUD Cycle

The Breakdown

Blockworks

Business, Investing

4.8 • 806 Ratings

🗓️ 2 April 2022

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Arculus and FTX US. Today on the “Weekly Recap,” NLW looks at two old bitcoin FUDs that came roaring back with a vengeance. The “crypto is for criminals” narrative was built into the assumption that led the European Parliament to vote in favor of advancing strict new anti-money laundering (AML) rules with regard to crypto wallets. Meanwhile, Greenpeace, funded by the chairman of Ripple, decided to start a campaign to get Bitcoin to change its code to be more environmentally friendly. - From cash to crypto in no time with Nexo. Invest in hot coins and swap between exclusive pairs for cash back, earn up to 17% interest on your idle crypto assets and borrow against them for instant liquidity. Simple and secure. Head on to nexo.io and get started now. - Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer and more secure solution to store, send, receive, buy and swap your crypto. Buy now at amazon.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - Consensus 2022, the industry’s most influential event, is happening June 9–12 in Austin, TX. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code BREAKDOWN to get 15% off your pass at www.coindesk.com/consensus2022. - Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Zephyr18/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.0	The breakdown is sponsored by nexo.io, Arculus, and FtX, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Saturday, April 2nd. And that means it's time for the weekly recap.
0:29.2	And on this weekly recap, we are talking about the new old Bitcoin fud cycle. Before that,
0:35.7	however, if you are enjoying the breakdown, please go subscribe to it,
0:39.1	give it a rating, give it a review, or if you want to dive deeper into the conversation,
0:43.8	come join us on the Breakers Discord. You can find a link in the show notes or go to bit.le,
0:48.7	that's LY slash breakdown pod. Also a disclosure, as always, in addition to them being a sponsor of the show, I also
0:56.0	work with FTX. Finally, one last thing before we dig in. If you haven't bought your tickets yet,
1:03.3	I highly suggest you check out CoinDesks Consensus 2022, which this year is happening in Austin, Texas,
1:10.2	between June 9th and June 12th.
1:12.5	The event has voices and topics representing a huge cross-section of the crypto space.
1:17.1	You've got your ZZs and SBFs, but also Punk 6-529 and Kathy Wood.
1:23.0	It should be a really, really good time.
1:25.4	If you're interested, you can use code breakdown for 15% off your
1:29.1	ticket. Check out coindesk.com slash consensus 2022. All right. So on to the weekly recap now.
1:38.0	And you could be forgiven for having some weird deja vu this week when it came to the types of critiques and targeting
1:47.7	and attacks that were coming at the crypto industry. I described this in the title of the show as
1:53.4	the new old Bitcoin fud cycle, and it was just inescapable that two of the oldest and most
2:00.5	stalwart crypto fuds came back to the four this week.
2:04.7	The first was the notion that crypto is just for criminals.
	...

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