Macro, Crypto, and Value

Published on
September 22nd, 2020
Duration
58 minutes


Macro, Crypto, and Value

The Interview - Crypto ·
Featuring Kevin Kelly

Published on: September 22nd, 2020 • Duration: 58 minutes

Kevin Kelly, co-founder of Delphi Digital, joins Real Vision senior editor, Ash Bennington, to discuss his experience bridging the gap between traditional finance and the crypto world. Kelly and Bennington talk about the macro tailwinds driving crypto markets, how investors are realizing yield in crypto, and the relationship between the many tokens that have been created and transparency. Filmed on August 26, 2020.

Comments

Transcript

  • DT
    David T.
    15 October 2020 @ 21:27
    Bla, Bla , bla. Nothing specific, but great promises
  • TP
    Timothy P.
    22 September 2020 @ 16:28
    I see the same problem with "DeFi" as I did with the original "DAO". Cut-n-pasted code, miles-wide attack surface, a bunch of money only chasing yield that is from a trapped token that depends on a coinswap/exchange to realize anything. You're better off holding Bitcoin and gaining direct appreciation, instead of worrying about counter-party risk from a bunch of DeFi projects with poorly vetted code. (Look up the YAM token debacle, among others.) Also, they're building on top of an unproven "base layer" of ETH. There is every indication that their desperate pivot to Proof-of-Stake will either be delayed (again), or just plain not work. That doesn't bode well for a token that basically siezed up because of a simple collectibles game. The willingness of people to throw money at something because it has a slick buzzword is beyond mind-boggling.
    • sc
      sung c.
      22 September 2020 @ 19:11
      Timothy, I too agree that for the average investor, 99%, we are better off simply holding BTC and ETH for the long haul and let everything develop around it. Having said that, I also believe that an expansion of ideas in the crypto space will do more long term good than bad. Certainly a lot of people will lose money along the way and many systems will go bust, but out of all that a few gems will be discovered and form the foundation for a better and sounder crypto space.
    • LS
      Lewis S.
      23 September 2020 @ 08:10
      I think that most people putting money into DeFi understand that they're participating in an experiment. This is the way the technology will be developed and refined, in a massive open experiment.
    • PR
      Private R.
      24 September 2020 @ 14:55
      Held ETH once for 24 hours, couldn't sleep. Its not money, it's not a world computer. It totally fell over in the recent DeFi craze. I really don't know what it is. Every time I see the world CRYPTO I cringe tbh. I think there are many whose minds were made up a long time ago about pretenders to bitcoin's throne and and then multitude of 'interesting projects' that seem to arrive by the minute. This whole space is polarised. Hate to say it but RV should really split the channel into Bitcoin & then Crypto. It would save me time wading through s***coin shillers and half-baked blockchain theories. Sorry but maybe I'm just intolerant. BTW I suppose I am a bitcoin maxi but if a better SoV came along I would jump to it in a heartbeat - so far nothing seen and there have been 8000 'interesting projects'
    • MD
      Matt D.
      29 September 2020 @ 04:41
      No thumbs down - must be a strange feeling :) I agree - yet conceptually DeFi or the space has potential. The idea that someone mentioned of being able to pay for a coffee using your Google shares to me is a clever way of considering the potential. Same with ETH - I agree, in its present form seems unsafe but to be able to encode money could be interesting - well if I was a government or CB I would be doing everything to get that - you could tax everything and create money with inbuilt inflation. Anyway, I don't want to give them idea. There are pitfalls as well - people will sell their freedom or life for money. I wonder what the value of BTC will be when it is not dollar backed? I am assuming that it will become more and more in demand once the fiat goes to an extreme meaning by then it will be a different context to now. Like how much BTC will someone give for a weeks worth of food? Will it have already established some form of value - otherwise it is a bit arbitrary or will be market driven.
    • BN
      Brady N.
      2 October 2020 @ 01:01
      No it's free market capitalism at its finest ;)
  • DB
    Daniel B.
    25 September 2020 @ 18:20
    What if, tomorrow, governments around the world declare all non-governmental cryptocurrencies illegal except the ones issue by central banks?
    • pi
      peter i.
      27 September 2020 @ 14:29
      it will still exist!
    • BN
      Brady N.
      2 October 2020 @ 01:00
      What makes you think there is something every government around the world could agree upon? ;)
  • pi
    peter i.
    27 September 2020 @ 14:46
    that was a great overall discussion, these updates are important as this area is moving at lightning speed - its impossible to keep afloat on all the changes... ...i think Kevin really described the malleable nature of crypto and that it's constantly remaking its self in different and better ways, If ethereum gets too congested we just move on to a better version'. Aragon governance mentioned reminds me https://epicenter.tv/episodes/236/
  • Mo
    Master o.
    22 September 2020 @ 15:20
    Can we have a show on the lightening network and what infrastructure is being built where a merchant can accept bitcoin as payment? Thanks.
    • YR
      Yunier R.
      22 September 2020 @ 21:17
      For merchant accepting bitcoin as payment look into BTCPay Server or Strike app. Both are using lighting as the underlying tech for it. But bare in mind bitcoin merchant adoption won't happen for years yet, not because of the tech, but because people don't want to spend their bitcoin, even if every merchant accepted it, it won't be used. This is Gresham's Law in full effect.
    • LS
      Lewis S.
      23 September 2020 @ 08:20
      But Yunier R, there may still be utility in using BTC as an intermediary. For example someone might have a digital wallet full of various tokens, stablecoins, forex or whatever. If the merchant just accepts bitcoin the customer's wallet can do a conversion or swap from any of those to BTC to make payment.