May 25, 2021
Blockworks on Blockchain & Bitcoin w/ Jason Yanowitz of Blockworks
- BRT S02 EP21 (68) 5-23-2021
What We Learned This Week:
Guest: Jason Yanowitz of Blockworks Media Co.
Jason Yanowitz background is in finance and VC work. He started Blockworks with his partner in 2018 to be the premiere source for blockchain and crypto news and information. The site has blogs, webinars, news stories and a podcast.
Jason discusses all things Bitcoin, Crypto and the Blockchain form what each is, to Mining, and energy & the Elon Musk comments (and validity). We break down Web 3.0 on tokens, NFT, and the alternate crypto coins.
Understanding the creation of Ethereum, the founders, the protocol, and the difference vs Bitcoin. How will the Ethereum upgrade roll out, and if payments will be transacted faster with proof of Stake. Then we expand to the Crypto Exchanges, and Investing, funds / ETFs, and the future of the industry.
Blockworks – financial nessite on digital and crypto assets, using Bloomberg as a model
Main Competition – Coindesk, DeCrypt, Coin Telegraph (Europe) & Coinbase
Working to Legitimize the Crypto / Blockchain Industry
Jason has VC background, was series licensed prior for investments
Remote Team – also in NY, Blockworks started in 2018 w/ Michael Ipolito (of mgmt) consulting
No crunchbase funding
Bitcoin value 7-8K x people who owns - $21 trillion = $1 million.
Blockworks – Media Co. – debate of whether crypto a currency or tech protocol ?
What is blockchain? Protocol, Difference from crypto – native asset of a specific blockchain
What is a token? Ethereum = Blockchain, Ether = token crypto
NFT - create digital certificate for a digital asset
DeFi – open source
Tesla/Musk comments & bitcoin decrease - Elon Musk comments – Bitcoin bigger than Tesla
Bitcoin volatility – Stable coins, USD coin, compared to gold – goal – payment mechanism but may be digital gold.
Joe Lubin contributed to Ethereum
Ethereum & ETH 2.0 – Vitali
8 founders – spin offs of Cardano (Charles Hoskinson) & Polka Dot
Coinbase IPO & drop
Brian Armstrong (from AirBnB) – y combo
Regulations & future – regulatory arbitrage – ECB digital coin – SEC – Gary pro crypto
Krakan – IRS & possible IPO regs . OCC – regs Comm.us.banks – settle payments now – NO float
Exchanges – Binance
Mining and Energy Use – over-rated – ½ % of world energy
Proof of Stake vs. Proof of Work
Bitcoin start in 2009 – how to have a currency – not de-valued
Bitcoin – blockchain – protocol for money and secure
2014 – Ethereum – solve for apps on top of Bitcoin – smart contracts. Vending machine analogy.
2017 – Coinbase, Blockfi, Gemini, Binance exchanges
Applications – Website built on protocol – http
Email built on protocol – sml
Crypto – web 3.0 – value should accrue to protocol level.
2017 – ICO – Initial coin offerings led to bad and good money.
Bitcoin fluctuations pullbacks of 30% 6x
MKT Cap: M2 – $100 trillion / Gold – $11 Trillion / Bitcoin $2 Trillion
Crypto / Blockchain Topic:
Best of Blockchain / Crypto: Here
Thanks for Listening.
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