The Breakdown

Latest Episodes:

What Biden's Tax Hike Has to Do With Money Printing and Inflation Apr 24, 2021

Show notes

Today on the Brief:

Coinbase Pro to list USDT
A new Bitcoin Mayor in Tennessee
ETH and BTC ETF updates

Our main discussion looks at President Biden’s proposed increase of the capital gains tax rate. NLW breaks down everything bitcoiners are saying about it, with a particular focus on what it has to do with monetary policy.

-- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io -- 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= Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW The Breakdown is produced and distributed by CoinDesk.com

This Earth Day, Let's Reclaim the Bitcoin Energy Debate Apr 23, 2021

Show notes

Today on the Brief:

Crypto M&A heats up
Is ETH deflationary now?
Cathie Wood is the Michael Saylor of Coinbase stock

Our main discussion: Square’s Bitcoin Clean Energy Initiative and ARK Investments have teamed up to release a memo about how bitcoin addresses key issues in the renewable energy space. Not only do renewables make sense as an energy source for mining, but bitcoin mining as “the energy buyer of last resort” could address key issues of intermittency and grid congestion.

ICO 2.0: How Will Big Bitcoin-Buying Institutions React to Inevitable Crypto Market Froth? Apr 22, 2021

Show notes

The years 2017 and 2018 were some of the frothiest, wildest times in crypto market history. Their fallout also dragged the industry down for years, leaving an unmistakable stench of scam for many.

Thus far in this market cycle, much of those excesses have been avoided. Attention and energy has largely been focused on the rise of institutional bitcoin players, or other areas like decentralized finance (DeFi) and non-fungible tokens (NFT) that, while some of the prices might be shocking, at least are full of good faith actors.

On today’s “The Breakdown,” NLW looks at some of the more concerning recent trends that have the stench of 2017 all over them. Can we avoid another cycle where “alt season” games drag down everything else?

Part of the answer to that may lie in how bitcoin’s new institutional buyers react to the froth.

Governments Banning Bitcoin? Not So Fast as Former Regulators Brooks and Giancarlo Join Crypto Companies Apr 21, 2021

Show notes

As this cycle heats up, “governments will ban bitcoin” is one of the top areas of fear, uncertainty and doubt. On this episode, NLW breaks down why that FUD just doesn’t hold much weight right now, looking at:

Why the examples of India, Turkey, Nigeria and China are not as bad as what people have posited
Why the early indications suggest the Biden administration is more open to crypto than what the Trump administration ended up being
Why it matters that two crypto companies today announced major board members and executives from the regulator world

Specifically, NLW looks at Brian Brooks and Chris Giancarlo’s trajectory in both the regulatory sphere and crypto and what their new private sector engagements might mean.

No, Bitcoin's Flash Crash Wasn't Caused by Turkey or Money Laundering or China or Any Other FUD Apr 20, 2021

Show notes

In 20 minutes on Saturday night, bitcoin’s price fell by more than 12%. Crypto Twitter raced to explain it as the byproduct of hashrate crashes after Chinese miners went offline, a suspicious report about the U.S. Treasury Department going after crypto money launders, and/or an upcoming ban in Turkey on using cryptos as currency.

NLW argues that all of those explanations are hogwash and that the crash had much more to do with leverage in the system than any fancy narrative.

-- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io -- 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= Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW The Breakdown is produced and distributed by CoinDesk.com

A Point-by-Point Rebuttal of the Most Recent Bitcoin Environmental FUD Apr 18, 2021

Show notes

On this week’s “Long Reads Sunday,” NLW reads Nic Carter’s “On Bitcoin, the Gray Lady Embraces Climate Lysenkoism,” a rebuttal of the New York Times’ recent piece on bitcoin energy consumption he says is riddled with false data and debunked sources.

Here Are All the Institutions That Bought Bitcoin While You Weren't Paying Attention Apr 17, 2021

Show notes

On this edition of the “Weekly Recap,” NLW looks at three key themes:

The continued institutionalization of bitcoin (and, increasingly, ethereum as well)
Warning signs of market mania in DOGE and NFT prices
Global intrigue around bitcoin and central bank digital currencies

Dogecoin: The Emperor of All Shitcoins and the Master of Memes Apr 17, 2021

Show notes

Dogecoin is on a tear. And it’s causing many mainstream media outlets to call “bubble.” On this episode, NLW breaks down DOGE as:

Valueless memecoin
Internet culture incarnate
Dada-esque protest to a broken system

Much wow.

Why the Biden Administration Is Increasingly Concerned with China’s Digital Currency Apr 16, 2021

Show notes

On today’s “The Breakdown,” NLW looks at an underreported story from earlier this week. There are increasingly loud whispers that officials across several agencies, including Treasury, National Security and Defense, are growing concerned with China’s digital currency efforts.

NLW looks at:

Why CBDCs are about power, not digital efficiency
Why Facebook’s libra was the starting gun
China’s possible objectives
Why the U.S. tone on a digital dollar is changing
How Gary Gensler as SEC Chair could portend a broader attitude shift for the U.S. vis a vis digital currencies

The Definitive Guide to Coinbase Going Public Apr 14, 2021

Show notes

On the day of Coinbase’s historic direct listing on NASDAQ, NLW answers your most important questions about the company and its place in the industry.

How did Coinbase become successful?
What is the crypto public's perception of Coinbase?
What is Coinbase's business model and how has that model been shifting?
What is Coinbase's role in the recent institutional shift in bitcoin?
Does Coinbase have any controversy in its past?
Why did Coinbase choose a direct listing?
What are people expecting, price wise?
Why did BTC and ETH hit all-time highs in advance of the listing?
How might Coinbase impact the crypto markets?

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