Unchained

Latest Episodes:

The Bitcoin Hash Rate Has Dropped. How Long Will It Take to Return? - Ep.252 Jul 06, 2021

Show notes

Kevin Zhang, vice president of business development at Foundry, breaks down the latest developments surrounding China and bitcoin mining. Show highlights:

how he came across crypto and which Bitcoin OG he joined at Bitcoin.com to help start its mining operations arm
what Foundry does and its relationship with Digital Currency Group (DCG)
why DCG wanted to build out a mining infrastructure business
what news from China in early March kickstarted the process of the mining ban
how China’s Central Television broadcasting company might have brought extra scrutiny to cryptocurrencies
what the 100th anniversary of the Chinese Communist Party has to do with its Bitcoin mining ban
why the Inner Mongolia and Sichuan Bitcoin mining bans were especially disruptive for Chinese miners
how much of China’s hash rate Kevin estimates has been shut down since May
where are miners relocating to
why Chinese mining equipment will not be allowed to turn on in the US
whether or not China’s Bitcoin mining ban will stick
why China banning bitcoin mining will be good for the network in the long run
what significant risk to Bitcoin’s network is solved by China banning bitcoin mining
how much Bitcoin’s hash rate will drop and what effect this will have on miner revenue
why Kevin thinks that Bitcoin is good for renewable energy
how immersion cooling technology works
what tangible benefits miners could find by moving to North America
if El Salvador’s volcanic bitcoin mining plan is feasible
what Kevin predicts will happen in the Bitcoin mining industry for the latter half of 2021

Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2

Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero

Conjure: https://conjure.finance

Episode Links

Kevin Zhang

Twitter: https://twitter.com/SinoCrypto
Mining tweet storms:
- https://twitter.com/SinoCrypto/status/1407524150885994497
- https://twitter.com/SinoCrypto/status/1409227438262046723
Content from previous work experience:

Foundry, Subsidiary of DCG

Twitter: https://twitter.com/foundryservices
Website: https://foundrydigital.com/
Foundry USA Pool
- Bit Digital: https://www.prnewswire.com/news-releases/bit-digital-joins-foundry-usa-pool-with-5-679-machines-adding-up-to-280-phs-of-compute-power-to-the-pool-301283792.html
- Bitfarms partnership: https://www.globenewswire.com/news-release/2021/04/23/2215897/0/en/Bitfarms-Partners-with-Foundry-to-Expand-Bitcoin-Mining-Fleet-and-Join-Foundry-USA-Pool-Instantly-Boosts-Operating-Hashrate-By-15.html

China’s Bitcoin Mining Ban

Travis Kling noted 25 different announcements from China in June alone:
- https://twitter.com/Travis_Kling/status/1410630499748388865
Glassnode: mining difficulty to face its largest decrease ever
- https://insights.glassnode.com/the-week-on-chain-week-26-2021/
The Block: hash rate dropped 50%, Foundry up while everyone else is hurting
- https://www.theblockcrypto.com/post/109315/bitcoin-hashrate-declines-50-percent-china-mining-crackdown
Nic Carter: breaking down the hashrate migration
- https://www.coindesk.com/bitcoin-unpacking-hashrate-nic-cart-migration

Secondhand mining equipment prices are spiking
- https://www.coindesk.com/chinese-logistics-firm-airlifting-bitcoin-mining-machines-to-maryland-report

https://www.theblockcrypto.com/post/109301/secondhand-bitcoin-miner-supply-spiking-bitmain

Bitcoin miners shut down, 26 farms affected after Sichuan bans BTC mining
- https://www.coindesk.com/sichuan-becomes-latest-chinese-province-to-order-bitcoin-miner-shutdown
- https://decrypt.co/74075/bitcoin-hashrate-falls-17-overnight-after-china-mining-crackdown
China’s Inner Mongolia announced eight measures in its crypto ban
- https://www.theblockcrypto.com/post/105973/china-inner-mongolia-crypto-bitcoin-mining-ban-measures
Hash rate hits yearly low
- https://www.coindesk.com/bitcoin-mining-hashrate-drops-low
Miners are moving to Kazakhstan
- https://www.coindesk.com/chinese-bitcoin-mining-company-delivers-first-machines-to-kazakhstan
Tweet thread on how bitcoin miners reacted to the PRC’s May crackdown
- https://twitter.com/MustafaYilham/status/1396574185598590979

Learn more about your ad choices. Visit megaphone.fm/adchoices

Unconfirmed: FTX's Sam Bankman-Fried Gives the Tom Brady/Gisele Bundchen Backstory - Ep.251 Jul 02, 2021

Show notes

Sam Bankman-Fried, CEO and founder of FTX, explains FTX’s sports-centric advertising model and talks about what is on his regulatory wish list going forward. Show highlights:

why Sam is so excited to bring Tom Brady and Gisele Bündchen onto the FTX team
how FTX decides on who to sponsor
why so many of FTX’s sponsorship are targeting US customers
what makes the sports industry such an attractive place to advertise for FTX
how FTX’s tokenized stocks work
what Sam learned from the GameStop/Robinhood situation
what makes FTX’s tokenized stocks different from Binance’s offering
how FTX is dealing with regulatory obstacles
what item is on the top of Sam’s regulatory wishlist
whether FTT is a security

Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021

Oasis: https://oasisprotocol.org

NEAR: https://near.org

Episode Links

Sam Bankman-Fried

Twitter: https://twitter.com/SBF_Alameda
Previous Unchained appearance: https://unchainedpodcast.com/why-the-gamestop-insanity-is-so-similar-to-crypto/

FTX

Website: https://ftx.com

Carbon credits: https://bitcoinmagazine.com/business/ftx-bitmex-to-become-carbon-neutral

Tokenized Stocks

FTX guidelines: https://help.ftx.com/hc/en-us/articles/360051229472-Tokenized-Stocks
CoinDesk: https://www.coindesk.com/ftx-follows-binances-lead-with-move-into-tokenized-stocks

FTX Sports Deals

Learn more about your ad choices. Visit megaphone.fm/adchoices

Ethereum's EIP-1559 Will Solve Some Problems But Big Ones Will Remain - Ep.250 Jun 29, 2021

Show notes

Taylor Monahan, CEO of MyCrypto, and Tim Beiko, Ethereum Foundation core-dev facilitator, discuss the upcoming upgrade to the Ethereum network, EIP 1559. Show highlights:

why Tim believes EIP 1559 is necessary
what narrative is driving EIP 1559
what problems the network upgrade will solve
how Ethereum transactions/fees work
whether gas prices are correlated with ETH/USD
the 3 main protocol changes that EIP 1559 proposes
why Taylor, as the CEO of a wallet provider, is wary of EIP 1559
how EIP 1559 will affect Ethereum’s block size
what changes wallet providers are considering due to EIP 1559
whether ‘Black Swan’ events will be more or less likely after the network upgrade
how EIP 1559 will affect miners
whether Tim or Taylor believes that miners could fork Ethereum to stop EIP 1559
how EIP 1559 will change the state of miner extractable value (MEV)
how Taylor and Tim feel about the Ethereum as sound money narrative in light of EIP 1559
when EIP 1559 will go live

Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2

Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero

Conjure: https://conjure.finance

Episode Links

Taylor Monahan

Twitter: https://twitter.com/tayvano_
MyCrypto: https://mycrypto.com/

Tim Beiko

Twitter: https://twitter.com/TimBeiko
Ethereum Foundation: https://ethereum.org/en/foundation/

EIP 1559

Resources: https://hackmd.io/@timbeiko/1559-resources
Taylor Monahan tweets
Actual proposal: https://github.com/ethereum/EIPs/blob/master/EIPS/eip-1559.md
Research: http://timroughgarden.org/papers/eip1559.pdf

Learn more about your ad choices. Visit megaphone.fm/adchoices

Unconfirmed: Strong Hands Aren't Selling Bitcoin. So Who Is? - Ep.249 Jun 25, 2021

Show notes

Will Clemente, author of the BTC by WC3 newsletter, breaks down the current state of Bitcoin’s on-chain activity and explains why he believes the market is in a mid-cycle lull rather than turning bearish. Show highlights:

why Will is not worried about a bear market
what indicators make Will believe BTC is in a mid-cycle consolidation
who is selling and driving the recent market downturn
why Will thinks the unwinding of derivatives is a significant factor in Bitcoin’s move below $30K
what Will believe institutions are waiting on before entering the market again
how Bitcoin cycles can be broken down into mini hype-cycles
how long-term holders are acting on-chain
the difference between long-term holders versus short-term holders during bear and bull markets
why Will is interested in finding data on Latin American Bitcoin users
how long the consolidation process might take
what metrics Will has his eyes on for the latter half of 2021

Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021

Oasis: https://oasisprotocol.org

NEAR: https://near.org

Episode Links:

Will Clemente

Twitter: https://twitter.com/WClementeIII

Newsletter: https://btcbywc3.substack.com/

Miscellaneous Links

Unchained w/ Willy Woo and Raphael Shultze-Kraft: https://unchainedpodcast.com/will-bitcoins-price-go-up-again-yes-according-to-on-chain-analytics/

Willy Woo and Will Clemente ratio: https://twitter.com/woonomic/status/1407403983023460354

Learn more about your ad choices. Visit megaphone.fm/adchoices

Is Quadriga's Gerald Cotten Still Alive? The 'Exit Scam' Podcast Aims to Answer - Ep.248 Jun 22, 2021

Show notes

Aaron Lammer, author and host of the Exit Scam podcast, recounts the mysterious and controversial death of QuadrigaCX’s founder Gerald Cotton. Show highlights:

A quick recap of QuadrigaCX
why Aaron felt compelled to create a series on QuadrigaCX
how Gerald Cotton, a lifelong Ponzi-addict, came to be the CEO of Canada’s largest crypto exchange
what Ponzi-schemes Gerald ran before starting Quadriga CX
why customers trusted QuadrigaCX and what red flags were readily apparent looking back
the sketchy tactic Gerald used to single-handedly boosted QuadrigaCX’s trading volume by 30%
a new wife, empty wallets, a hastily written will, and the circumstances surrounding Gerald’s shocking death
how Gerald’s dark web background might have prepared him to fake his own death
what the chances are that Canadian authorities exhume Gerald’s body
why Aaron is skeptical Gerald’s widow was “in” on the QuadrigaCX fiasco

Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2

Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero

Conjure: https://conjure.finance

Episode Links

Aaron Lammer

Co-founder of Longform.org + co-host of Longform Podcast (2010+)

Treats Media -- podcast platform (2018+)

Exit Scam

CoinTalk: https://medium.com/s/cointalk

Podcast

Twitter: https://twitter.com/exitscampod

Episodes:

The Lost Password
1. https://podcasts.apple.com/us/podcast/the-lost-password/id1565845318?i=1000521095118
1. https://podcasts.apple.com/us/podcast/part-ii-the-co-founder/id1565845318?i=1000521984138
The Co-Founder
1. https://podcasts.apple.com/us/podcast/part-iii-the-ponzi-schemer/id1565845318?i=1000522885172
The Ponzi Schemer
1. https://podcasts.apple.com/us/podcast/part-iv-the-chris-markay-account/id1565845318?i=1000523624957
The Chris Markay Account
1. https://podcasts.apple.com/us/podcast/part-v-the-old-friend/id1565845318?i=1000524470802
The Old Friend
1. https://podcasts.apple.com/us/podcast/part-vi-the-coffin/id1565845318?i=1000525407259
The Coffin

Quadriga

Deep Dives:

CBC News
- https://newsinteractives.cbc.ca/longform/bitcoin-gerald-cotten-quadriga-cx-death
Vanity Fair
- https://www.vanityfair.com/news/2019/11/the-strange-tale-of-quadriga-gerald-cotten
Amy Castor timeline
- https://amycastor.com/2019/02/12/how-the-hell-did-we-get-here-a-timeline-of-quadrigacx-events/
Ontario Securities Commission
- https://www.osc.gov.on.ca/quadrigacxreport/

Details

Ontario Securities Commission deems Quadriga an “old fashioned fraud” + “Ponzi”
- https://www.vanityfair.com/news/2019/11/the-strange-tale-of-quadriga-gerald-cotten
- https://www.coindesk.com/quadriga-was-a-ponzi-scheme-ontario-securities-regulator-says
Crypto officially recognized as property in Canada due to this case
- https://www.lexology.com/library/detail.aspx?g=728711fd-5d3c-43ea-91b4-efb8c02f4bec
Fun Reddit stuff
- Is a Gerald Cotten alive? -- a poll:
- - https://www.reddit.com/r/QuadrigaCX/comments/m17kip/is_gerald_cotten_really_dead/
- Graphic connecting Michael Patryn to Omar Dhanani
- - https://www.reddit.com/r/BitcoinCA/comments/828dnr/quadrigacx_cofounder_michael_patryn_is_a/
Lawyers publicly request that RCMP exhume Gerald Cotten’s body
- https://www.coindesk.com/lawyers-ramp-up-pressure-to-exhume-quadriga-ceos-body
Report on Gerald Cotten transferring funds into a personal account
- https://www.theblockcrypto.com/linked/28259/quadrigacx-co-founder-transferred-user-funds-into-personal-accounts-ey

Learn more about your ad choices. Visit megaphone.fm/adchoices

Unconfirmed: Polygon: The Layer 2 Solution Doing 8 Times as Many Transactions a Day as Ethereum - Ep.247 Jun 18, 2021

Show notes

Jaynti Kanani, cofounder and CEO of Polygon, discusses why the layer 2 solution has seen so much success during a down crypto market. Show highlights:

what factors have led to Polygon’s and MATIC's impressive performance YTD
how Polygon is scaling Ethereum
what types of projects are taking off on Polygon
how Polygon is attempting to address the issue of layer 2 composability
how Polygon plans to use its latest funding
why Jaynti is confident Polygon will still be necessary after ETH 2.0 launches

Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021

Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero

NEAR: https://near.org

Episode Links

Jaynti Kanani

Twitter: https://twitter.com/_jdkanani

Polygon

Website: https://polygon.technology/

Overview:

Popularity:

Investments:

Miscellaneous:

Learn more about your ad choices. Visit megaphone.fm/adchoices

Unchained 5-Year Anniversary: AMA With Laura on Her Favorite Guests, Predictions and More - Ep.246 Jun 15, 2021

Show notes

To celebrate the 5th anniversary of Unchained, I answer some questions submitted to me by the audience. In this episode, I cover:

what I think about the relationship between psychedelics and crypto
the most entertaining guest I’ve interviewed on Unchained
why Coinbase founders may have a more impactful future on crypto than Ethereum founders
which show has been the most impactful
why I am a “nocoiner”
where I believe DAOs fit into the future of crypto
who my favorite guests have been over the years
what I am most fearful and most hopeful about in the crypto space
why I think user-friendly products are so important moving forward
which DeFi projects I find the most interesting
what sort of expenses go into producing Unchained
which topics I would like to cover in the future
the most surprising answers I have received in an interview (feat. CZ and Vitalik)
what three cryptos I think will be most important three years from now
if I think I have interviewed Satoshi :)
my advice for anyone looking to change careers and go crypto
who has been the hardest person to book on Unchained
what crypto trend has surprised me the most in the past five years

Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2

Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero

Keychain: https://conjure.finance

Episode Links

Twitter: https://twitter.com/Unchained_pod

Daily Newsletter: https://unchainedpodcast.com/

Podcasts mentioned during the show:

Vitalik Buterin on Ethereum’s Five-Year Anniversary
- https://unchainedpodcast.com/vitalik-buterin-on-ethereums-five-year-anniversary/
Listen to CZ Compare Binance to Bitcoin
- https://unchainedpodcast.com/listen-to-cz-compare-binance-to-bitcoin/
Mark Cuban on Why He Thinks ETH Is a Better Store of Value Than Bitcoin
- https://unchainedpodcast.com/mark-cuban-on-why-he-thinks-eth-is-a-better-store-of-value-than-bitcoin/
Meltem Demirors and Jill Carlson on the Shitcoin Waterfall – Ep.74
- https://unchainedpodcast.com/meltem-demirors-and-jill-carlson-on-the-shitcoin-waterfall-ep-74/
Yeonmi Park on Why Doing Business With North Korea Is Like Buying a Ticket to a Concentration Camp
- https://unchainedpodcast.com/yeonmi-park-on-why-doing-business-with-north-korea-is-like-buying-a-ticket-to-a-concentration-camp/
Andre Cronje of Yearn Finance on YFI and the Fair Launch: ‘I’m Lazy’
- https://unchainedpodcast.com/andre-cronje-of-yearn-finance-on-yfi-and-the-fair-launch-im-lazy/
Nick Tomaino on 1confirmation’s $125 Million Fund and What Future NFTs Will Look Like
- https://unchainedpodcast.com/nick-tomaino-on-1confirmations-125-million-fund-and-what-future-nfts-will-look-like/
Why Bitcoin’s December Price Target Is Now ‘Above $300,000’ (Willy Woo)
- https://unchainedpodcast.com/charting-bitcoins-growth-with-willy-woo-and-peter-brandt/
What Makes a CryptoKitty Worth $140,000? – Ep.75 (Roham Gharegozlou)
- https://unchainedpodcast.com/what-makes-a-cryptokitty-worth-140000-ep-75

Why I don’t own crypto: https://twitter.com/laurashin/status/1376211065772576770

Learn more about your ad choices. Visit megaphone.fm/adchoices

Unconfirmed: Want Crypto in Your 401(k)? It's Finally Possible -- With This Provider - Ep.245 Jun 11, 2021

Show notes

ForUsAll recently announced a new product that will allow cryptocurrency investments to be made inside 401(k) retirement accounts. Jeff Schulte, CEO of ForUsAll, discusses why putting crypto in a 401(k) is such a game changer, how this differs from Bitcoin IRAs, and more! Show highlights:

how bringing crypto into a 401(k) with ForUsAll will work
what “guardrails” ForUsAll is placing on investors who choose to invest in crypto
the tax advantages of purchasing crypto within a 401(k)
whether ForUsAll is offering a Roth IRA
why nobody has offered crypto within a 401(k) before now
what differentiates a crypto 401(k) from a self-directed IRA
what are the fees for the 401(k), who it will be available to, and when it will launch
how security and keys are being handled
why ForUsAll is not offering every token available on Coinbase
how ForUsAll is determining which cryptos will be available to trade
why offering crypto ETFs through a 401(k) may cause problems regarding the fiduciary risk of employers
what new crypto features ForUsAll is excited to roll out

Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021

Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero

NEAR: https://near.org

Episode Links

Jeff Schulte: https://www.linkedin.com/in/jeffschulteproductmanagment/

ForUsAll: https://www.forusall.com/ + https://twitter.com/ForUsAll401k

Coinbase partnership: https://www.wsj.com/articles/coinbase-teams-up-with-401-k-provider-to-offer-crypto

https://fortune.com/2021/06/10/coinbase-crypto-401k-roth-offering-forusall/

https://www.theblockcrypto.com/post/108034/coinbase-forusall-401k-advisor-crypto-retirement-accounts

Learn more about your ad choices. Visit megaphone.fm/adchoices

Will Bitcoin's Price Go Up Again? Yes, According to On-Chain Analytics - Ep.244 Jun 08, 2021

Show notes

Willy Woo, on-chain Bitcoin analyst and writer of the Bitcoin Forecast, a market intelligence newsletter, and Rafael Schultze-Kraft, co-founder and CTO of Glassnode, discuss Bitcoin and what the on-chain metrics tell us about the price. Here to discuss is. Episode highlights:

what factors pushed the price of BTC down in May
why Elon’s Twitter account hold so much sway over the market
why Willy believes Bitcoin is good for renewable energy
who sold during the last month
which type of BTC investors stopped purchasing in Feb/March
what trends Willy and Rafael have noticed from coins moving to/from exchanges
their thoughts on exchange-traded products, like GBTC and Canadian ETFs
how derivatives trading has played a role in Bitcoin’s price
why stablecoins were trading above their peg in the months leading up to the Coinbase direct listing
how Willy values Bitcoin (specifically using NVT ratio)
whether the trend of corporate treasuries investing in Bitcoin will continue
how they expect Ethereum's adoption of a deflationary monetary policy to impact the price of Bitcoin
when the market could turn bullish once again and predictions for the rest of the year

Thank you to our sponsors!

E&Y: https://ey.com/globalblockchainsummit

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2

Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero

Episode Links

Willy Woo

Twitter: https://twitter.com/woonomic
Substack: https://willywoo.substack.com/
Charts: http://charts.woobull.com/

Rafael Schultze-Kraft

Twitter: https://twitter.com/n3ocortex
Glassnode Blog: https://insights.glassnode.com/author/rafael/
Medium (no posts in 2021): https://medium.com/@neocortex

Glassnode

Website: https://glassnode.com/
Twitter: https://twitter.com/glassnode
Crunchbase: https://www.crunchbase.com/organization/glassnode

Willy on BTC trends:

NVT 2021 re-hash: https://twitter.com/woonomic/status/1399644889596370950
User growth on BTC network: https://twitter.com/woonomic/status/1396716391940575232
Exchange flows are bullish: https://twitter.com/woonomic/status/1395350421187690500
The movement to strong holders is unprecedented: https://twitter.com/woonomic/status/1391209800252358658
BTC undervaluation: https://twitter.com/woonomic/status/1389145220432859144

Rafael on BTC trends:

Investors becoming fearful: https://twitter.com/n3ocortex/status/1394922200923312132
Bear market?: https://twitter.com/n3ocortex/status/1394312942678679559
Why on-chain exchange metrics are difficult to analyze: https://insights.glassnode.com/exchange-metrics/
BTC ownership is not highly concentrated: https://insights.glassnode.com/bitcoin-supply-distribution/
BTC illiquidity: https://insights.glassnode.com/bitcoin-liquid-supply/

Glassnode on BTC trends:

May 31 recap: https://insights.glassnode.com/the-week-on-chain-week-22-2021/
May 24 recap: https://insights.glassnode.com/the-week-on-chain-week-21-2021/
December buyers approaching cost basis: https://twitter.com/glassnode/status/1399757635512066052
Battle of Bulls vs. Bears: https://twitter.com/glassnode/status/1399231089764360192
Grayscale discount: https://twitter.com/glassnode/status/1397059742019686400

Deleveraging futures market: https://twitter.com/glassnode/status/1395771367958581251

Learn more about your ad choices. Visit megaphone.fm/adchoices

Unconfirmed: How Taproot Could Improve Bitcoin -- If It Gets Adopted - Ep.243 Jun 04, 2021

Show notes

Jeremy Rubin, a Bitcoin Core contributor and founder of Judica, a Bitcoin R&D Lab, joins Unchained from the Miami Bitcoin Conference (2021) to discuss all things Taproot. Show highlights: