Issue #1 – Bitcoin & Coronavirus – The coronavirus continued to spread this week, with infections being reported all over the United States and Europe, sending stock prices plummeting and Bitcoin prices soaring. Fears of a prolonged outbreak affecting manufacturing, supply lines and much more have created a panic not seen since the 2008 financial crisis. ??? I ask you — is this good… for bitcoin?
Exit Question: Is it better to have Cash, Goods or Bitcoin?
Issue #2 – Friends like these – Famous Bitcoin Advocate Trace Mayer came out in support of privacy focused MimbleWimble coin this week, with a large portion of the bitcoin community reacting unfavorably, basically burning their Trace Mayer jerseys in the public square. Meanwhile Coinbase CEO Brian Armstrong continues to speak out against Bitcoin saying that the coin that created his company and his personal wealth is not private enough and also refusing to use the word Bitcoin on twitter, often deleting his tweets and replacing it with the generic word crypto. ??? are there no heroes left in Bitcoin — or worse — are all of our Bitcoin heroes destined to sell out?
Exit Question – Is Bitcoin a suicide pact — akin to the Mafia’s vow of silence — once you join Bitcoin you can never get out?
Issue #3 – PowerPlant – A power plant in upstate New York has begun using it’s excess electricity — to mine Bitcoin. As predicted several times on this show, the plant installed thousands of mining rigs at its facility and is now producing an average of 5.5 Bitcoins a day or around $50,000. ??? is this the beginning of something more? Is it telling that they didn’t mine Ethereum or Dogecoin, but that they actually mined Bitcoin?
Exit Question – As industrial bitcoin mining ramps up is this actually the end of the home miner or will some still survive?
Issue #4 – Countries Legalize – Germany and India took big steps towards accepting cryptocurrencies rather than fighting them this week, with India legalizing crypto currency trading (at least for now, the Bank is already challenging it to the Indian Supreme Court) and Germany enabling banks to sell and store crypto, creating what is being called by many as a “Crypto Haven” in Deutchland. ??? is this crypto-normalization the beginning of a positive trend toward the legalization and acceptance of cryptocurrencies planet wide?
Exit Question – Which country will change their tune next?