Unchained

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

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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: 

1. The Lost Password

Quadriga

Deep Dives: 

• CBC News

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

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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:

• https://www.theblockresearch.com/polygon-a-technical-overview-105799
• https://www.theblockresearch.com/mapping-out-polygons-ecosystem-105540

Popularity:

Investments:

• https://www.coindesk.com/au21-capital-opens-polygon-fund
• https://www.coindesk.com/mark-cuban-invests-in-ethereum-layer-2-polygon

Miscellaneous:

• https://www.coindesk.com/okcoin-integrates-polygon-reduce-users-ethereum-gas-fees

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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

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

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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

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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

Rafael Schultze-Kraft

• Twitter: https://twitter.com/n3ocortex 
• Glassnode Blog: https://insights.glassnode.com/author/rafael/

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

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

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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:

• a general update on the Miami Bitcoin Conference 
• what Taproot will do for the Bitcoin network
• how Taproot will make Bitcoin transactions more private
• what effect Taproot might have on on-chain analytics companies
• what parts of Bitcoin transactions will be public if/when Taproot goes live
• what new wallet features Taproot will unlock for Bitcoin
• how Bitcoin vaults might work
• a user-friendly definition of MASTs (Merklized Abstract Syntax Tree)
• how Taproot signaling works
• when/if Taproot will lock-in
• why network updates strain the relationship between miners and users

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: 

Jeremy Rubin

• Twitter: https://twitter.com/JeremyRubin 
• Judica: https://judica.org/ 
• Personal website: https://rubin.io/ 

Taproot

• Signaling status of Taproot: https://taproot.watch/ 
• Bitcoin Magazine on Taproot: https://bitcoinmagazine.com/technical/taproot-coming-what-it-and-how-it-will-benefit-bitcoin 
• Why Taproot matters: https://www.coindesk.com/bitcoins-privacy-and-scaling-tech-upgrade-taproot-just-took-a-big-step-forward 
• Marathon lifts block mining censorship: https://www.coindesk.com/marathon-wont-censor-bitcoin-transactions-says-mining-ceo 

MASTs: https://bitcointechtalk.com/what-is-a-bitcoin-merklized-abstract-syntax-tree-mast-33fdf2da5e2f

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Nick Tomaino, general partner of 1confirmation, discusses his firm’s recently announced third fund of $125 million and gives his perspective on many hot crypto topics, such as NFTs, Layer 2 solutions, Polkadot, DAOs, and more. Show highlights:

• why Nick became interested in crypto and his background
• what drives 1confirmation’s investment thesis
• why he Nick believes NFTs have taken off in popularity this year
• why NFTs are currently in a bubble
• what we might do with NFTs in the future
• how competition between different NFT marketplaces will shake out
• how music NFTs could work
• the feasibility of charging royalties in the secondary sale of NFTs
• why environmental concerns over crypto mining to only be a short-term issue
• why Nick is not an Ethereum maxi and how he feels about the fragmentation of Layer 2 solutions on ETH
• why Polkadot is such an exciting project
• whether, as an early Coinbase employee, he would say the fat protocols thesis is true
• what new trend Nick is keeping an eye on for 2021 and beyond

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

Nick Tomaino

Twitter handle: https://twitter.com/NTmoney 

Recommended Content:

• Writing
• • Introducing 1confirmation Fund 3

1confirmation

Basics

• Website/Portfolio

Recently, 1confirmation has funded...

•  Notional Finance

Miscellaneous

• Meebits
  • https://meebits.larvalabs.com/
• Polkadot governance
  • https://polkadot.network/polkadot-governance/
• Unchained podcast discussing the petrodollar
  • https://unchainedpodcast.com/bitcoin-vs-the-petrodollar-which-is-more-environmentally-friendly/
• Fat Thesis

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House Representative Tom Emmer, of Minnesota, is one of the most active voice for crypto and blockchain in the US government. In this episode, he discusses:

• what book made Tom fall down the crypto rabbit hole 
• why Tom believes the Financial Accounting Standards Board needs to set clear accounting standards for cryptocurrencies
• why the current way of accounting for Bitcoin on balance sheets may be a detriment to companies in the future
• how he feels about the acting head of the OCC putting together a “sprint team” of federal regulators to establish overarching crypto standards
• why he is fighting to change tax rules for forked coins
• what problems the Eliminate Barriers to Innovation Act might solve
• why he is so passionate about the Securities Clarity Act, which would explicitly separate digital tokens from securities
• how DeFi should be regulated and why he is not a fan of FATF’s recently proposed guidance
• Tom’s prediction for when these bills may actually become law 

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

Tom Emmer

• Twitter: https://twitter.com/RepTomEmmer 
• Website: https://emmer.house.gov/ 

Documents Mentioned

• FASB letter
• • https://emmer.house.gov/2021/5/emmer-urges-fasb-to-issue-clear-accounting-standards-for-virtual-currencies
• Eliminate Barriers to Innovation Act
• • https://www.forbes.com/sites/jasonbrett/2021/04/22/us-house-passes-bill-to-create-first-crypto-task-force-on-digital-assets/
• Safe Harbor for Taxpayers with Forked Assets Act
• • https://emmer.house.gov/2021/5/emmer-introduces-legislation-to-protect-taxpayers-with-digital-assets-pending-further-irs-guidance
• Securities Clarity Act
• • https://emmer.house.gov/2020/9/emmer-introduces-legislation-to-provide-clarity-for-digital-assets-under-securities-law
• Proposed FATF Guidance (quick breakdown)

Miscellaneous

• Congressional Blockchain Caucus
• • https://congressionalblockchaincaucus-schweikert.house.gov/members
• US Regulatory “sprint”

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Kain Warwick, founder of Synthetix, and Kyle Samani, managing partner at Multicoin Capital, debate the merits of Ethereum, Solana, and Binance Smart Chain. In this episode, they discuss:

• why Ethereum is losing market share to Solana and BSC
• whether decentralization matters and at what point decentralization becomes redundant
• why they think Solana and Binance Smart Chain need to be taken seriously as competitors to EThereum
• whether BSC or Solana is the bigger long-term threat to Ethereum
• the biggest obstacle to Ethereum’s success (and it’s not gas fees)
• how Ethereum will navigate fragmented Layer 2 solutions
• Solana and its lack of developers
• what differentiates DeFi from CeFi
• why Solana has an edge on Ethereum in terms of composability 
• how Ethereum will onboard new users
• why Kain is such an ardent backer of Ethereum
• why both Kyle and Kain think EIP 1559 and the potential for higher ETH prices is bad for Ethereum
• if Synthetix would ever consider launching a cross-chain product
• the viability of a multi-chain world
• why Kyle believes the future holds a winner-take-most blockchain ecosystem

Thank you to our sponsors!

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

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

Kyber Network: Dmm.exchange 

Episode Links

People

Kyle Samani

• Twitter: https://twitter.com/KyleSamani 
• Multicoin Capital: https://multicoin.capital/ 

Kain Warwick

• Twitter:  https://twitter.com/kaiynne

Content

Kain’s tweet that instigated this pod:

• https://twitter.com/kaiynne/status/1387266949302734852

Multicoin Blogs:

• New $100m fund focused on Solana

• Value Capture at Layers 1 and 2

Kain Warwick and Sam Bankman Fried podcast

Comparing AMMs on different blockchains

BSC and Solana NFT platforms

• https://www.theblockcrypto.com/post/102959/binance-is-launching-its-own-nft-marketplace-in-june

Overview of Layer 2 solutions on Ethereum

• https://ethereum.org/en/developers/docs/scaling/layer-2-rollups/

Binance Smart Chain guide

• https://defiprime.com/binance-smart-chain

Solana guide

https://thedefiant.io/solana-defi-ecosystem-overview/

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