The Supercycle Is Dead: Welcome to Goblintown

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 28 May 2022

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This episode is sponsored by Nexo.io, NEAR and FTX US. On today’s episode, NLW analyzes community sentiment as bitcoin and ether have their most protracted, continuous downturns of all time and while consumer sentiment in traditional markets hits all-time lows. - Nexo is a secure crypto exchange and crypto lending platform. Buy 40+ hot coins with your bank card in seconds and swap between exclusive pairs for cashback. Earn up to 17% interest on your idle crypto assets and borrow against them for instant liquidity. Simple and secure. Head over to nexo.io and get started now. - NEAR is a blockchain for a world reimagined. Through simple, secure, and scalable technology, NEAR empowers millions to invent and explore new experiences. Business, creativity, and community are being reimagined for a more sustainable and inclusive future. Find out more at NEAR.org. - 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, Texas. 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. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “Catnip” by Famous Cats and “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Aitor Diago/Getty Images and NLW’s Goblin 8720, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

Click on a timestamp to play from that location

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, near an FtX, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Friday, May 27th, and today we are talking about why the super
0:28.7	cycle is dead. Before we get into that, a couple of housekeeping notes. There are two ways to
0:35.7	listen to the breakdown podcast. You can find it on the
0:39.0	Coin Desk podcast network where it comes out in the afternoon and where you'll also find
0:43.6	other great Coin desk shows, or you can listen on the breakdown only feed, which comes out a few
0:48.0	hours later in the evening. Wherever you listen to the breakdown, please, if you would be so
0:53.2	kind to give us a rating or a review,
0:55.8	it makes a huge difference, and I really appreciate it.
0:59.1	Lastly, a disclosure, as always, in addition to them being a sponsor of the show, I also
1:03.7	work with FTX.
1:05.7	You'll forgive me, guys, I have contracted what I hope is the last preschool virus of the year
1:10.4	before the summer, but
1:11.7	if my voice sounds a little weird, that's why. And frankly, it's kind of appropriate to be
1:16.1	actually physically sick, because it is kind of sickening to look at the markets right now.
1:20.9	It is brutal out there, and I mean brutal. Alex Kruger tweeted my feelings exactly last night
1:27.4	when he said,
1:28.5	mood getting pretty dark out there, isn't it? Now, if you feel like it has just been down
1:33.7	only for a really long time without basically any signs of light, you are not wrong. In fact,
1:40.2	we are officially in uncharted territory. Chow Wang tweeted earlier this week, we just had
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Blockworks, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Blockworks and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.