Bitcoin may have taken a back seat in the collective consciousness of the crypto community this year as the non-fungible token scene took off and decentralized finance enjoyed an Indian summer, but the coin that started it all has been back in the headlines lately. Bitcoin has returned to valuations last seen during the heady peaks of spring, a BTC futures fund began trading on Wall Street earlier this month, and a Central American nation has adopted it as a parallel currency.
“A few hundred years ago, we were still in a world that was ruled by emperors — shahs, sultans, kings, czars... Within a span of 80 years that all disappeared,” Ben Caselin, the head of research at crypto exchange AAX, told Forkast.News in a video interview. “Things change.”
Watch Caselin's full interview with Forkast.News Editor-in-Chief Angie Lau to learn more about why Bitcoin is still the next big thing.
00:00 Introduction
2:23 Bitcoin’s decade of adoption
4:17 Evolving regulatory narratives
7:59 Understanding Bitcoin and crypto
14:46 Bitcoin as legal tender
21:14 Current state of Bitcoin
30:37 Crypto growth beyond Bitcoin
36:00 Bitcoin & beyond 2021
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HIGHLIGHTS
Bitcoin in El Salvador — far-sighted or foolish?
“It is brave at this stage in the market. Because the market is still only 2% or 3% adoption. And so, because of that, it’s susceptible to more manipulation … volatility … Most importantly, it's susceptible to a lot of criticism, ignorance and prejudice … So I think at the core, El Salvador's move was a very bold one. I think it’s very important for Bitcoin. It's really raised the profile. It's all wonderful that we get these comments from the International Monetary Fund, and we get reluctance from the World Bank, and we get some downgrading from (credit rating agency) Moody's.”
The diversification argument:
“Generally, Ethereum, Bitcoin... they move in unison. Sometimes Ethereum will move a bit faster. But then yesterday — or two days before — it just didn't. It went down while Bitcoin went up. So yes, there is this kind of arbitrary movement, but I would still say that generally cryptocurrencies move together ... So the diversification, I don't know if it's that strong yet as an argument, it does (matter) in the short term.”
The role of institutions in Bitcoin’s rise:
“For Bitcoin to keep rising, more capital needs to come in, and that cannot just be small money. Of course, it has to be big money. So the 100% rise from here still needs, like, more than a trillion dollars — it needs for it to double in size. And retail doesn't necessarily have a trillion dollars lying around. So, of course, it makes sense in the bigger scheme of things that now it's the time for institutions. But they also have to kind of go through … cultural transformations.”
Can Bitcoin change humanity?
“Bitcoin is the awakening of humanity to its own sovereign capacities. So as they engage the asset, they become aware that it's important to self-custody. It's important actually that money can flow over borders freely. It's important that money cannot be diluted by third parties that are not democratically elected, etc. There's a lot of these things that we can only realize. We realize them for a while, but that we realize en masse as we are, as we are kind of confronted with an alternative. And so Bitcoin offers that alternative.”
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#Crypto #Blockchain #BlockchainTechnology #DigitalAssets #Cryptocurrency #DeFi #Bitcoin #BTC #SatoshiNakomoto #Technology #Asset #ElSalvador #Ethereum
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RECOMMENDED PLAYLISTS:
Word On The Block: https://youtube.com/playlist?list=PLE...
The Daily Forkast: https://youtube.com/playlist?list=PLE...
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ABOUT FORKAST.NEWS
Forkast.News covers blockchain, DLT, cryptocurrency and other emerging technologies in a way that anyone can understand. We help you bridge the gap between the blockchain industry and the mainstream.
From NFTs to enterprise blockchain platforms, smart contracts to altcoins, Bitcoin to DeFI and beyond; Forkast’s blend of insight, analysis & daily blockchain news keeps you on the cutting edge of the digital asset revolution and the wider digital economy it both supports and disrupts.
ABOUT ANGIE LAU
Angie Lau is editor-in-chief, CEO & founder of Forkast.News and host of ‘The Daily Forkast’. She is an award-winning veteran journalist, a respected thought leader in blockchain technology and a speaker at conferences around the world including the Forbes Summit, Binance Blockchain Week, Paris Blockchain Week Summit and the Asia Blockchain Summit.
Before founding Forkast in July 2018, Angie anchored Bloomberg TV’s flagship morning show “First Up with Angie Lau” broadcast globally into 350 million homes, offices and trading floors. Angie’s TED Talk “I Am Not Supposed to Be Here” is now a TED-Ed lesson for its global audience of 6.7 million followers.
“A few hundred years ago, we were still in a world that was ruled by emperors — shahs, sultans, kings, czars... Within a span of 80 years that all disappeared,” Ben Caselin, the head of research at crypto exchange AAX, told Forkast.News in a video interview. “Things change.”
Watch Caselin's full interview with Forkast.News Editor-in-Chief Angie Lau to learn more about why Bitcoin is still the next big thing.
00:00 Introduction
2:23 Bitcoin’s decade of adoption
4:17 Evolving regulatory narratives
7:59 Understanding Bitcoin and crypto
14:46 Bitcoin as legal tender
21:14 Current state of Bitcoin
30:37 Crypto growth beyond Bitcoin
36:00 Bitcoin & beyond 2021
---
HIGHLIGHTS
Bitcoin in El Salvador — far-sighted or foolish?
“It is brave at this stage in the market. Because the market is still only 2% or 3% adoption. And so, because of that, it’s susceptible to more manipulation … volatility … Most importantly, it's susceptible to a lot of criticism, ignorance and prejudice … So I think at the core, El Salvador's move was a very bold one. I think it’s very important for Bitcoin. It's really raised the profile. It's all wonderful that we get these comments from the International Monetary Fund, and we get reluctance from the World Bank, and we get some downgrading from (credit rating agency) Moody's.”
The diversification argument:
“Generally, Ethereum, Bitcoin... they move in unison. Sometimes Ethereum will move a bit faster. But then yesterday — or two days before — it just didn't. It went down while Bitcoin went up. So yes, there is this kind of arbitrary movement, but I would still say that generally cryptocurrencies move together ... So the diversification, I don't know if it's that strong yet as an argument, it does (matter) in the short term.”
The role of institutions in Bitcoin’s rise:
“For Bitcoin to keep rising, more capital needs to come in, and that cannot just be small money. Of course, it has to be big money. So the 100% rise from here still needs, like, more than a trillion dollars — it needs for it to double in size. And retail doesn't necessarily have a trillion dollars lying around. So, of course, it makes sense in the bigger scheme of things that now it's the time for institutions. But they also have to kind of go through … cultural transformations.”
Can Bitcoin change humanity?
“Bitcoin is the awakening of humanity to its own sovereign capacities. So as they engage the asset, they become aware that it's important to self-custody. It's important actually that money can flow over borders freely. It's important that money cannot be diluted by third parties that are not democratically elected, etc. There's a lot of these things that we can only realize. We realize them for a while, but that we realize en masse as we are, as we are kind of confronted with an alternative. And so Bitcoin offers that alternative.”
---
#Crypto #Blockchain #BlockchainTechnology #DigitalAssets #Cryptocurrency #DeFi #Bitcoin #BTC #SatoshiNakomoto #Technology #Asset #ElSalvador #Ethereum
---
RECOMMENDED PLAYLISTS:
Word On The Block: https://youtube.com/playlist?list=PLE...
The Daily Forkast: https://youtube.com/playlist?list=PLE...
---
ABOUT FORKAST.NEWS
Forkast.News covers blockchain, DLT, cryptocurrency and other emerging technologies in a way that anyone can understand. We help you bridge the gap between the blockchain industry and the mainstream.
From NFTs to enterprise blockchain platforms, smart contracts to altcoins, Bitcoin to DeFI and beyond; Forkast’s blend of insight, analysis & daily blockchain news keeps you on the cutting edge of the digital asset revolution and the wider digital economy it both supports and disrupts.
ABOUT ANGIE LAU
Angie Lau is editor-in-chief, CEO & founder of Forkast.News and host of ‘The Daily Forkast’. She is an award-winning veteran journalist, a respected thought leader in blockchain technology and a speaker at conferences around the world including the Forbes Summit, Binance Blockchain Week, Paris Blockchain Week Summit and the Asia Blockchain Summit.
Before founding Forkast in July 2018, Angie anchored Bloomberg TV’s flagship morning show “First Up with Angie Lau” broadcast globally into 350 million homes, offices and trading floors. Angie’s TED Talk “I Am Not Supposed to Be Here” is now a TED-Ed lesson for its global audience of 6.7 million followers.