Two VCs on Why This Is the Perfect Time to Invest in Crypto - Ep. 522
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- Опубликовано: 31 июл 2024
- Despite the doom and gloom, Placeholder VC partners Chris Burniske and Joel Monegro are highly bullish on the present moment. “We’re all going to look back on this period and remember it as fondly as we remember ‘18 and ‘19,” Monegro tells Laura Shin. The two long-term investors explain why the confluence of macroeconomic factors and crypto-native (and AI) innovations make this the ideal time to invest in a Web3 future. They cut their teeth on Bitcoin, they grew up with Ethereum; hear what they think is next.
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CHECK OUT THE EPISODE LINKS AND DETAILS HERE
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Show highlights:
🔹 why Chris says crypto’s four-year cycle will likely play out once again
🔹 the role of interest rates in asset valuation
🔹 whether the crypto industry has learned its lessons from the “crypto carnage” of 2022
🔹 whether there’s a future for KYC’d DeFi
🔹 when failing in crypto should be considered a crime, as in the Do Kwon case
🔹 what could happen with the rate hikes and how the macroeconomic environment affects the markets
🔹 how the ruling in the Ripple case impacts the development of new crypto companies and user adoption
🔹 whether Joel felt relieved by the ruling, considering Placeholder has invested in many tokens that were named as securities by the SEC
🔹 what Joel thinks of the new crypto bill in Congress and how he wishes that smart contracts were used to self-regulate the industry
🔹 what Joel and Chris think of the delicate situations of crypto giants such as Binance and DCG
🔹 whether the fat protocol thesis still holds up and whether it colors Placeholder’s current investment thesis
🔹 why most of the Layer 1s will become rollups, according to Chris
🔹 why Chris is bullish on Solana, despite the massive collapse in value following the FTX debacle
🔹 how NFTs will play a significant role in “establishing the provenance of content”
🔹 whether AI agents will become crypto power users
Thank you to our sponsors!
➡️ Crypto.com
➡️ Arbitrum Foundation
➡️ TOKEN2049
Guests:
⭐️Chris Burniske, partner at Placeholder VC
⭐️Joel Monegro, partner at Placeholder VC.
_______________________________________________________
Time Stamps:
00:00 Introduction
01:41 Current crypto cycle
14:16 2022: Crypto carnage
23:42 Macroeconomic environment
34:49 Regulation
46:19 Lummis Gillibrand bill
51:36 DCG and Binance situation
58:58 Investment thesis
1:21:26 Solana
1:27:49 AI and Crypto
1:38:58 Bitcoin ETFs
_______________________________________________________
#bitcoin #ethereum #crypto #cryptocurrencies
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Always enjoy Chris and Joel’s thoughts on the space. Great job and episode, Laura!
Great video! I really do have a question. For someone with less than $40K to invest, how would you recommend we enter the stock market? I am looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What’s your take on this approach?
Because they are used to bull markets, most people find it difficult to handle a decline, but if you know where to search and how to get around, you can make a sizable profit. It depends on how you plan to enter and leave.
Given that we are not accustomed to such uncertain markets, the fact that the US stock market has been on its longest bull run ever makes the widespread anxiety and excitement comprehensible. There are opportunities if you know where to go, as you noted that it wasn't difficult for me to earn more than $780k in the previous 10 months. Since I was aware that I would need a reliable and strong plan to get through these tough times, I engaged a CFA.
@@AshtonGrace Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
@@Rachelschneider03 It was run by Maria Teresa Tyler, who I learned about and got in touch with thanks to a CNBC interview. Since then, it has served as the point of entry and departure for the games we have emphasized. A search on the internet can be done if tracking is necessary.
@@AshtonGrace I looked up Maria Teresa Tyler's profile online since I was curious. I saw her page, her credentials, and how tight she came across. At first, I thought this was overblown nonsense.
At the very least, I now grasp the concept of leverage.
Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.
Hi Laura, why don't you add chapters to your videos?
This is highly valuable content. You guys are doing a great job admittedly.
13:25 whats the book title? (not in show notes as mentioned n didnt find it on Unchained site nor in the VC thesis)
Technological Revolutions and Financial Capital by Carlota Perez
@@ManojXavierPuthuckary thx a lot, Manoj. i tried "Carlotta cycle", acc to subtitles - it was close n it sounded reasonble to me to be Italian, lol.
That was a great one.
Fun fact: 64% of all solana mentions on earth are by VC Chris.
If you would like I can talk about it too but I think he speaks for all of us that believe in the future of solana 💪
Not true most of them are from ansem
What a great interview
good video!
timestamps?
00:00 - 01:45:25
What was the name of the book recommended in this podcast ??? please
Please
What’s the book??
I didn’t catch the name
Technological Revolutions and Financial Capital by Carlota Perez
105 mins of pure alpha
Perfect time to provide exit liquidity
The schedule is clear. But for some reason they didn't say a word about Crypton. It's a very stable monetary. I only mine it.
I find the amount of post interview editing that seems to have been done concerning. I mean, how much of what the guests said was someone not happy about? Maybe I'm wrong?
22:27 “How someone reacts to earnest critical feedback reveals intent …”
Very well said.
Lovely description of entire Bitcoin ecosystem.
When offered legit analysis or criticism they blow up. React. Inflamed.
Laser cultists : “You must believe! Or we will excommunicate you !”
A sure sign of insecurity.
Ask a laser-eye a genuine question :
“How shall we ensure that Tx Fees will be high enough to pay for Mining in 10-15 years ?
How can we make BTC secure in future ?”
You will be met with responses such as :
You’re dumb !
You don’t get it !
HFSP
Oh look, an idiot.
Guaranteed sign of insecurity.
You mustn’t question the narrative. You must believe.
It’s weird that anyone really thinks L2s are necessary. Just use Solana and take advantage of the parallel execution and isolated fee markets. Pretty soon we will have validators running on 500-core machines. Why not take advantage of the natural hardware progression to scale a blockchain’s throughput? No complicated bridges and fragmented liquidity. Just pure speed due to massively parallel execution.
14
13
Man Chris would be 5/5 if his nose was tiny bit smaller and if he added 30lbs of muscle onto his frame. Still, perhaps the best looking guy in crypto. EDIT: Haters will say his upper lip could use a filler but in my opinion it adds a little character to his face, at least since the lip is a little crooked like that.
Yo, 2nd best
*I began my investment journey at the age of 27, primarily through hard work and dedication. I am to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.*
Sad how this space is completely dead
Crypto is over
please, there won't be a millions of L2s or L3s.
monegro lol
Everyone is a vc these days
Disliked, where is chopping block
No one cares brahhh
Many people are losing hundreds of thousands of dollars to crypto scams. Even companies with good reputations can suddenly freeze your account without giving any reason. They just say "We have frozen your account but for security reasons, we can't tell you why?" What kind of nonsense is this? These are reputable trading platforms doing this. It's a good way to lose all of your money.
Love Chris, but I think he is off on Barry. Barry is at best a step or two away from Do Kwon. Barry is another one of the tumors that we need to cut out.
pretty basic cringe takes, good inspiration though for anyone doubting they can be a multimillionaire
Crypto-bros everywhere, but none of them understand cryptography, nor economics. Study Bitcoin only, forget the rest of shitcoins
Yo, calm down sally yo
We studied Bitcoin.
Diminishing gains, couldn't hit $100k with infinite QE and 0% rates back in 2021.
You're going to get rekt in the next cycle (again).
@@sommi888 Is there a next cycle?
22:32 “How someone reacts to earnest critical feedback reveals intent …”
Very well said.
Lovely description of entire Bitcoin ecosystem.
When offered legit analysis or criticism they blow up. React. Inflamed.
Laser cultists : “You must believe! Or we will excommunicate you !”
A sure sign of insecurity.
Ask a laser-eye a genuine question :
“How shall we ensure that Tx Fees will be high enough to pay for Mining in 10-15 years ?
How can we make BTC secure in future ?”
You will be met with responses such as :
You’re dumb !
You don’t get it !
HFSP
Oh look, an idiot.
Guaranteed sign of insecurity.
You mustn’t question the narrative. You must believe.
@@SquareRootOfMinus1friend, I will gladly and respectfully answer any question you have regarding Bitcoin. Bitcoin fascinates me from a every point of view, software & cryptography (I am a programmer), math, economics, sociology, history, philosophy, politics, etc
- "How shall we ensure that Tx Fees will be high enough to pay for Mining in 10-15 years" ?
If you recall the reward-halving mechanism Bitcoin implements, the last bitcoin will be mined around the year 2140. so in 10-15 years, the miners will still get block rewards of around 2 to 1 BTC every 10 minutes. We dont know what would be the price of 1 BTC by then. But having in mind its a perfectly math proof scarce money, the demand for it will only increase (Why is blackrock narrative towards BTC changed this year ? because they understood this). So the mining business wont go away soon.
- "How can we make BTC secure in future" ?
Nodes/Miners and consensus-rules keep the network secure and ticking like a clock (as they have been doing it since 2009). I run my full node where I see the mempool (unconfirmed transactions) and I can verify the validity of them. Bitcoin is truly decentralized with miners spanning across the globe (Cant say that for other altcoins) and the incentives to grow the mining business pushes the search for sustainable energy for them.
Now, in regards of consensus rules, They have been set in stone and no-one can change them, there have been improvements, but there is no changes, no leader (Satoshi is long gone), no guru, no CEO, no president, no foundation, no marketing team, no roadmap. It is truly neutral. Now, take a look at other altcoins to see how their founders call the shots.
I suggest reading the Bitcoin Standard from Saifedean Ammous to get a very good understanding on how money works, what is money, what is not, and better percieve what happens.
Cheers
After watching the video, I have to say something. Through a friend, I googled a great trainer. At first, I was a bit distrustful of him and only made some small buys. But I didn't expect that under his leadership, in just 3 months, I managed to recover the previous loss of 150,000 dollars. And there are more profits. This made me have more confidence in him, so I increased the amount. Today, I have paid off all my bank debts and started my retirement early. I am very grateful to him. Now recommending him is what I should do, you can Google Dan Price C F A and contact him.
Laura ,youneed to grow a beard ....look more musculine like those guys