136: Cryptocurrencies: Ill-Advised Speculation or an Alternative Asset Class? With Nic Cary, Co-Founder and Vice Chair at Blockchain.com
Money Maze Podcast
Money Maze Podcast
4.8 • 216 Ratings
🗓️ 25 April 2024
⏱️ 54 minutes
🧾️ Download transcript
Summary
Since then cryptocurrency volatility has been extraordinary, and witness to wild gyrations, the imprisonment Sam Bankman-Fried, SEC action, regulatory hand wringing and then this year, BlackRock’s launch of one of several crypto ETFs (approved by the SEC), and Bitcoin's halving last weekend.
In this conversation Nic makes the case for crypto to a sceptical Simon, discussing the importance of blockchain technology, the growth of the crypto markets, scarcity, risk, speculation, institutional versus retail participation, and of course, the merits of gold vs crypto.
Blockchain has now grown to be one of the world’s largest crypto infrastructure providers, enabling both institutions and individuals to buy, sell, utilise, understand and exchange crypto products. Since being co-founded by Nic in 2011, they’ve facilitated about a third of all bitcoin network transactions, processing over $1tn in transaction volume for 37m users.
Also joining this conversation was Will Campion of Campion Capital (who set up the podcast with Simon), making his debut appearance on the show!
The Money Maze Podcast is kindly sponsored by Schroders, and IFM Investors.
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Transcript
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| 0:00.0 | Welcome to the Wall Street Shelfore |
| 0:08.8 | In the money wrestle |
| 0:13.3 | Welcome to the Money Mace podcast. |
| 0:17.5 | I'm Simon Brewer and along with my co-founder, Will Campion. We created this show in |
| 0:22.7 | 2020 to explore and unravel some of the mysteries surrounding the investment and business |
| 0:27.8 | worlds. |
| 0:28.3 | Epis to make a mark if you want to make money. You need the luck to make a buck if you want to be |
| 0:35.6 | good. Epishtra. Episodes are available on audio via most podcast platforms and on video via our YouTube channel |
| 0:45.2 | and we're active on all major social media platforms to stay up to date with every episode |
| 0:50.7 | please do sign up to our newsletter at moneymay's podcast.com. |
| 0:55.0 | And we'd like to thank you for listening. |
| 0:56.7 | If we could ask one favor, we'd love you to tell a friend or colleague about us. |
| 1:01.8 | Thank you. |
| 1:16.6 | Back in September 2021, we wanted to discuss blockchain and cryptocurrencies. |
| 1:22.9 | Will Campion, my co-founder, was more enthusiastic than me, but we arranged to meet with Nick Carey, |
| 1:28.9 | one of the founders and vice chair at blockchain.com through a friend of the show, James Peterson at Rothschild. |
| 1:34.5 | Blockchain was then becoming the world's leading digital assets platform. Nick arrived for the preparatory meeting at my home with his Vizler, a beautiful if scatty, tobacco brown Hungarian dog |
| 1:40.7 | whose exuberance persuaded my chocolate brown Labrador to retreat under the table. |
| 1:45.7 | Nick then proceeded to speak with great eloquence and fluidity about the blockchain technology, |
| 1:50.9 | the world of crypto, currency to basement, government failures, and the death of cash. |
| 1:56.0 | Despite my reservations, when we recorded the conversation was rich and wide-ranging, we spilled over |
| 2:02.4 | into two episodes. Nevertheless, I was, and have remained a skeptic about the investment |
... |
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