The Power to Mint Money
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 1 February 2023
⏱️ 74 minutes
🧾️ Download transcript
Summary
Today on the show, Ryan and David are Guestless!
The two cover the history of crypto bull markets. What patterns are found in every single bull market? Now that there are three very distinct crypto market cycles, what can we learn from them? Crypto democratizes the ability to mint new assets. How are humans dealing with this newfound superpower? Ryan and David answer all of these questions and so much more.
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Timestamps:
0:00 Intro
10:24 What is Money?
16:40 What is Crypto Doing?
24:40 The Power Patterns
28:20 2013
32:40 Corruption Part of the Cycle
37:15 ICO Mania & Corruption
54:00 2020 DeFi Summer
59:50 NFTs
1:03:20 2023
1:06:00 The Good & The Bad
1:10:05 Closing & Disclaimers
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
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Transcript
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| 0:00.0 | Banclus Nation. Welcome to another episode of State of the Nation. At least that's the |
| 0:09.3 | format we're trying to keep here. But the guest today is just you and I, David. And we are the guests. |
| 0:16.0 | Just you, actually, because I'm going to be walking through a concept that you really wanted |
| 0:21.3 | the Banclus Nation to understand. You think this is very powerful. The title of this episode, |
| 0:25.6 | and the theme is the power to mint money, the power to mint money. And I think, David, as I'm |
| 0:33.2 | looking through what you've got prepared for us, kind of this agenda, you've identified some |
| 0:38.6 | patterns that have been found in every single bull market to date, 2013, 2017, 2021, and 2022, |
| 0:48.8 | how they've grown, and also how they've fallen. And you're using that as a predictor, |
| 0:55.7 | a way to sort of understand the future, the next bull market, and how this cryptocurrency |
| 1:01.2 | industry is going to evolve. So I think it's a powerful model that you're using, and this repeating |
| 1:08.2 | pattern. But you tell us, what are we in store for in this episode? We're in store for a lot of |
| 1:13.0 | things. I think this, hopefully, turns into a kind of episode that I think only Banclus can |
| 1:19.4 | really produce, which is why I'm really, really excited about this. This is one part, a history |
| 1:23.7 | lesson about the history of the crypto industry thus far. What was the 2013 bull market like? |
| 1:29.6 | What was the 2017 bull market like? And of course, what was the most recent bull market like? |
| 1:34.3 | And what are the common denominators between all of those things? So if you only came in, |
| 1:39.0 | Banclus listener, for the 2020 to 2021 bull market, this might be really useful to just take |
| 1:44.7 | a snapshot in history about the bull markets that happened before your arrival. Ryan and I can |
| 1:50.4 | speak very, very well about the 2017 bull market. The 2013 bull market was both before our times, |
| 1:57.9 | however, it was, of course, much more simple to understand because of how early it was. |
| 2:02.3 | But understanding these things, and then also understanding, at very first principles, |
| 2:06.9 | what this whole crypto industry is based on, can we can extend this forward into, again, |
... |
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