Will DeFi Scale on Layer 1 or 2? - Sam Bankman-Fried, Kain Warwick, Ep. 117
53 min

It's no news that DeFi needs to scale - but will it happen on layer 2, or will projects move to other layer 1s?

Serum's Sam Bankman-Fried (@SBF_Alameda) and Synthetix's Kain Warwick (@kaiynne) join us in discussing their opposite views on scaling

  • Serum vs. Synthetix 
  • Solana vs. Optimistic Rollups
  • Is Layer 2 enough to scale all of DeFi?
  • Composability concerns with layer 2 solutions
  • Bootstrapping liquidity for a new layer 1

Host: Jason Choi (@MrJasonChoi). This show is not financial advice; show host and guest may hold some of the assets discussed.

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Resources:

 

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Musical credits:

Intro track: Underground Stars by Loxbeats https://spoti.fi/34tPBBOCreative Commons — Attribution 3.0 Unported — CC BY 3.0 Free Download / Stream: https://bit.ly/underground-stars Music promoted by Audio Library https://youtu.be/vpJDMD2EzkA

Disclaimer: Jason Choi is an investor at Spartan Capital, the hedge fund arm of The Spartan Group. All opinions expressed by Jason and podcast guests are solely their own opinions and do not reflect the opinion of The Spartan Group and any of its subsidiaries and personnel. This podcast is for information purposes only and should not be relied upon as a basis for investment decisions. 

The Delphi Podcast
The Delphi Podcast
Tom Shaughnessy
TokenTax’s Zac and Alex: The Ultimate Crypto Tax Deep Dive
Chain Reaction Host Tom Shaughnessy hosts Alex Miles and Zac McClure, the co-founders of TokenTax. The team answers our most nuanced crypto tax questions and get into detail on how the founders are scaling their tax software. This was a must-listen episode for anyone filling their crypto taxes. Every Delphi Podcast is dropped first as a video interview for Delphi Digital Subscribers. Our members also have access to full interview transcripts. Join today to get our interviews, first. - Show Notes (1:35) – (First Question) Token Tax Background (3:39) – How hard it was to do Crypto Taxes in past years (6:28) – Main reasons people come to Token Tax (7:56) – Token Tax, does it reduce Audits (12:27) – Minimization, a new option to calculate tax burden (18:12) – Is a complex Tax Code good for business (24:10) – Insights about Tax Loss Harvesting going into New Year (28:52) – What’s behind integrating New DeFi Platforms (30:30) – Tax implications of staking ETH 2.0 (*) (33:27) – Inside Token Tax and Active Aggregators (36:00) – Rebasing coins (*) (37:57) – How are rug pulls accounted for (*) (39:58) – Implications on moving from BTC to WBTC (*) (41:09) – Biggest Mistakes that the average Crypto Investor makes with their Taxes (*) (*) questions posed by our Delphi Twitter members Resources: * Guest’s Twitter: https://twitter.com/TokenTax * Guest’s Website: https://tokentax.co/ * Tom's Twitter: https://twitter.com/Shaughnessy119 * Delphi Podcast Twitter: https://twitter.com/PodcastDelphi More * Our Video interviews Can Be Viewed Here: https://youtu.be/fubeSokngY8 * Access Delphi's Research Here: https://www.delphidigital.io/ Disclosures: This podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host may personally own tokens that are mentioned on the podcast. Lets Talk Bitcoin is a distribution partner for the Chain Reaction Podcast, and our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product or service. Delphi’s transparency page can be viewed here.
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On The Brink with Castle Island
On The Brink with Castle Island
Castle Island Ventures
John Newbery (Brink) on funding Bitcoin development (EP.150)
John Newbery, Bitcoin Core developer and founder of Bitcoin Optech, announces an independent nonprofit organization to support Bitcoin development, Brink. Donate here. In this episode, we discuss the formation and mandate of Brink, as well as the developer funding context that we find ourselves in. Covered in the episode: * John Newbery's core developer story and how he came to found Brink * Why John left Chaincode and struck out on his own * Brink's mandate and foundational purpose * Lessons learned from the Bitcoin Foundation * The future of Bitcoin Optech * The state of funding for Bitcoin development * The accessibility of Bitcoin protocol development today * Does the existence of financial incentives cannibalize the intrinsic motivation to work on open source? * Why John works on Bitcoin * Why ossification might be more remote than we expect * Whether Bitcoin's developer funding model exposes it to corporate capture * The political implications of Bitcoin having a sole reference implementation * The importance of distinguishing the validation element of Bitcoin Core from the other components * Is Bitcoin protocol dev meritocratic or technocratic? * Why the structurelessness of Bitcoin core dev raises the barriers to entry * Is Bitcoin protocol development adequately funded right now? * Does developer funding equate to influence in the Bitcoin protocol development * The dispersion of Bitcoin protocol development influence Content mentioned in this episode: * Joseph Jacks on On The Brink * Bitmex Research, Who Funds Bitcoin Development? * Nic Carter in Coindesk, Bitcoin's Patronage System is an Unheralded Strength
55 min
Uncommon Core
Uncommon Core
Uncommon Core
#14: Interview with a Spartan
Today, I’m not only joined by a very special guest, but the format of this episode is highly unusual as well! I interviewed the man who goes by the name @DegenSpartan on Twitter and who is one of the biggest and most enigmatic Defi investors there is. I have wanted to have him on for a long time, but there was one problem: DegenSpartan, or DS in short, is fully pseudonymous and did not even want to have his voice known. So we looked for a solution and ended up doing a text interview instead. Then I got Patrick McCorry (@paddypisa on Twitter) to speak the part of DS in the final recording, while I spoke my own part. At this point, I want to give a huge thank you to everyone who reached out to us on Twitter and offered their help to make this episode a reality. I get that this isn’t your average podcast, and you can go and read the text interview instead if you want, but I think Paddy did a fantastic job and the final product came out great. Please enjoy! Discussed in this interview: DS: Degenerate or prudent investor? How he managed to recognize (and sell) the top in Defi His approach to investing Becoming Synthetix' patient zero Why he dislikes Maker, YFI, and governance tokens in general and more! Links: Subscribe to our mailing list for transcripts and other bonus content: https://uncommoncore.co/  DegenSpartan https://twitter.com/DegenSpartan Hasu https://twitter.com/hasufl  Patrick McCorry (as DS): https://twitter.com/paddypisa
38 min
Unconfirmed
Unconfirmed
Laura Shin
9 Ways Bitcoin Is at an All-Time High - Ep.152
Nic Carter, general partner at Castle Island Ventures, and cofounder and chairman of Coin Metrics, explains why the Bitcoin price has been rising without the retail bubble seen in 2017-2018. In this episode he covers: * how this Bitcoin rally differs from the ones in 2017-2018 and why the market is much more mature * how much the pandemic and other macro forces this year have helped propel Bitcoin * what it says that the number of Bitcoin addresses with $10 or more worth of bitcoin are is at 18 million now, compared to 2014 in the 2017-2018 bubble * the significance of realized cap, and why there's less pressure to sell now since the current cost basis of all bitcoins is much higher than in the bubble * the significance of the fact that open interest in CME Bitcoin futures hit $1 billion this week — and why, even though they're cash-settled, they do impact the Bitcoin price * what the appreciation of the Bitcoin price in other countries' currencies such as Turkish lira means * what it means that the stablecoin free float has grown from $1.5 billion in the last bubble to $23 billion during this rally * what he makes of the theory that Chinese miners are having difficulty to sell their BTC being a driver of the price rise Thank you to our sponsor! Crypto.com: http://crypto.com Episode links: Nic Carter: https://twitter.com/nic__carter Castle Island VC: https://www.castleisland.vc Coin Metrics: https://coinmetrics.io Nic’s post: https://medium.com/@nic__carter/nine-bitcoin-charts-already-at-all-time-highs-78abbfe82804 Chinese miners unable to sell BTC: https://www.coindesk.com/bitcoins-rally-supply-crunch-in-china Dispute with this report: https://twitter.com/WuBlockchain/status/1328893579515682816?s=20 CME Bitcoin open futures surpasses $1 billion: https://www.theblockcrypto.com/linked/85045/cme-bitcoin-futures-1-billion-open-interest Link to the Crypto News Recap: https://unchainedpodcast.com/what-info-will-come-out-in-the-binance-lawsuit/
31 min
The Scoop
The Scoop
The Block
NYSE vice chairman: Talks are 'accelerating' with crypto firms that want to go public
Despite the uncertainty of the global economy in 2020, the New York Stock Exchange has had a strong year, helping companies raise more than $66 billion.  In many respects, it has been the year of Special Purpose Acquisition Companies (SPACs), according to vice chairman John Tuttle. This year, firms have raised billions through the acquisition-style mechanism. During this episode of The Scoop, Tuttle — who previously led NYSE's global listings business — explained why the fundraising method has taken the markets by storm and how they've evolved from a lackluster funding mechanism to a red-hot fad on Wall Street.  "Let's look back ten years or so, SPACs were a four letter word, they didn't have the best reputation, the sponsors didn't necessarily have the best interest in mind of investors in the market place," Tuttle said. He went on to explain: "And they largely fell out of favor. Several years ago you started seeing some rule changes around SPACs to address some of those challenges that SPACs had a decade or so ago and you started seeing higher qualities sponsors come into market.What do I mean by that? Folks that—whether it be the Goldman Sachs or the Gores Groups of the world. Folks that had very well-respected reputations in the marketplace both as financial partners but business partners as well too. You started seeing deals be larger in size. You started see well respected names launch SPACs and partner with SPACs and partner with SPACs, and that's what gave credibility to the product." Indeed, some crypto firms have been considering SPAC-centric strategies, including BlockFi and Ripple. There's also firms like Coinbase, which is said to be in the process of going public in the near-term, as previously reported by Reuters.  Tuttle says that the exchange group is talking with crypto firms about tapping into public markets.  "It has been a space that's been of interest for quite some time," he said. "We've had discussion with companies that have been thinking about accessing the public market, from that space, crypto blockchain digital assets." "Those conversations continue, they're accelerating," he added. "And I also think that digital assets, crypto are going to play somehow somewhere some way an important role in the market of the future." _________________________________ This episode was brought to you by Polkadot Decoded, the Polkadot community conference on December the 3rd. Don’t miss this opportunity to tap into the latest developments and discover what lies ahead in the Polkadot ecosystem, including Gavin Wood in conversation with Laura Shin and a panel moderated by The Defiant founder Camila Russo. . Save your spot today!
32 min
Bankless
Bankless
Bankless
ROLLUP: 4th Week of November
BLACK FRIDAY DEAL: GET LEDGERS for 40% OFF! 🔥🔥🔥https://bankless.cc/ledger 🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/ ✊ STARTING GUIDE BANKLESS: https://bit.ly/37Q17uI ❤️ JOIN PRIVATE DISCORD: https://bit.ly/2UVI10O 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 👕 BUY BANKLESS TEE: https://merch.banklesshq.com/ ----- GO BANKLESS WITH THESE SPONSOR TOOLS: ⭐️LEDGER - 40% OFF LEDGERS THIS WK ONLY! 🔥🔥🔥 https://bankless.cc/ledger 🚀 ZERION - INVEST IN DEFI FROM ONE PLACE (download it now!) https://bankless.cc/zerion 💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith 🤖YEARN - YIELD-SEEKING MONEY ROBOT THAT FARMS DEFI FOR YOU http://bankless.cc/yearn ------ ROLLUP: 4th Week of November 🦃 (MARKET) What’s the Market saying? BTC Price - Touched previous ATH - BTC on Ethereum - Down 200 to 151,700 - Frontpage of Wall Street Journal (https://twitter.com/blockfolio/status/1330887985181679619?s=20) - Jim Creamer tweets about Bitcoin https://twitter.com/jimcramer/status/1331246721637167108?s=20 ETH Price - $600 - Almost 734k ETH in the deposit contract https://launchpad.ethereum.org/ TVL in DeFi - 14.1B, up from 13.4B DPI Price - $104 to $108 Spencer Noon: 8 Signs We’re in a new $ETH Bull Market https://twitter.com/spencernoon/status/1331638662573027333?s=20 (RELEASES) What got released? Deriswap, From Andre Cronje https://andrecronje.medium.com/deriswap-capital-efficient-swaps-futures-options-and-loans-ea424b24a41c Daily Gwei Ecosystem from Anthony Sassano https://thedailygwei.substack.com/p/turbocharging-the-daily-gwei-123 Slingshot https://slingshot.finance/ - Rebrand from DEX.AG DeFi Database https://defidatabase.info/ - Exactly what the title suggests. Database of all DeFi projects/endeavours Jeff Coleman ETH2 Tweet thread https://twitter.com/technocrypto/status/1330150362427387910 (NEWS) What’s in the news? BlackRock CIO says Bitcoin will replace gold https://cointelegraph.com/news/blackrock-cio-says-bitcoin-will-take-the-place-of-gold-to-a-large-extent Coindesk suspending all margin trading due to regulators https://www.coindesk.com/coinbase-ends-margin-trading Office of Comptroller messaging that banks need to service legal, but unfavorable, industries (thats crypto) https://twitter.com/msantoriESQ/status/1329898854242603012?s=20 Bitcoin Suisse deposited $100k of ETH into the deposit contract (https://www.trustnodes.com/2020/11/21/bitcoin-suisse-to-deposit-nearly-100000-eth-to-ethereum-2-0) - Demand for staking-as-a-service providers - Strong signals that the staking industry is going to be BIG MAP OF STAKING OPTIONS - https://twitter.com/Philiff/status/1331088361579180036/photo/1 (TAKES) What’s on your mind? David Bankless wasn’t here in 2017 Ethereum media wasn’t a thing in 2017 Ryan Retail isn’t here yet (https://twitter.com/RyanSAdams/status/1331233516722528261?s=20) (https://twitter.com/lawmaster/status/1331163575205965824?s=27) ONRAMPS...our pipe to absorb capital is easily 10x INSTITUTIONS: Futures, CME, Options, Custody... FinTech is going to betray the banks and flood into crypto (top 5 crypto apps) inTech is going to betray the banks and onboard the world to crypto and the banks don't even see it coming Venmo, Robinhood, Square, PayPal These have turned into crypto apps The banks are legacy ledgers Crypto is the future What are you excited about? David This time, it’s different Ethereum will respond completely differently this bull market. We are all going to be humbled by what Ethereum becomes this bull-cycle. Rapid change happens in bull markets. The people that come into this space now are a significantly different co-hort than the people that pay attention to this industry 24/7/365 Ethereum is similarly a different thing than in was in 2017. DeFi wasn’t a thing in 2017 DeFi hasn’t seen a bull market. No DeFi app has seen a bull market. There is about to be some CHURN (Ryan) The community… Crypto isn’t a single player game. Community came together to launch Eth2. Incredible people Thank some of those incredible people who helped me Andreas Chris Burninske Karl Floresch ------ Don't stop at the video! Subscribe to the Bankless newsletter program http://bankless.substack.com/ Visit the official Bankless website for resources http://banklesshq.com/ Follow Bankless on Twitter https://twitter.com/BanklessHQ Follow Ryan on Twitter https://twitter.com/ryansadams Follow David on Twitter https://twitter.com/TrustlessState ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case.
45 min
The Wolf Of All Streets
The Wolf Of All Streets
Scott Melker | BlockWorks Group
The Blockchain And Mortgage Revolution with Curtis Wood, CEO of Bee App
Curtis Wood spent years learning the ins and outs of both the mobile app and mortgage industries. When he learned about the blockchain, he knew he had to combine the three areas. He developed Mortgage Bee App, a seamless way to automate the loan process for home buyers, leveraging blockchain technology to add trust and remove human error. Scott Melker and Curtis Wood further discuss the current state of the housing market, the impact of COVID-19 on home value, historically low-interest rates, the difficulty in obtaining a loan, refinancing for free money, the 2008 subprime mortgage crisis, Dodd-Frank and Fannie Mae, strippers buying 7 homes, the impact of fraud and greed, the money machine in DC, tech as a double edge sword, borrowing against crypto and more. --- ROUNDLYX RoundlyX allows you to dollar-cost-average into crypto with our spare change "Roundup" investing tool, manage multiple crypto exchange accounts in one dashboard and access curated digital asset content and services. Visit RoundlyX and use promo code "WOLF" to learn more about accumulating your favorite digital assets when making everyday purchases and earn $4 in free Bitcoin. --- EQUOS Diginex is the first company with a cryptocurrency exchange to be listed in the US. That exchange, EQUOS, has been built to institutional standards, but is available to everyone. You can trade Bitcoin and Ethereum spot, as well as Bitcoin perpetuals, and get a 5% discount on all fees, by signing up using equos.com/wolf. --- CELSIUS With the Celsius app you can earn up to 15% APY rewards on over 30 cryptocurrencies. Have crypto but want cash? Celsius also offers the lowest cost loans against your crypto with interest rates starting at just 1% APR. Enter promo code WOLF when you sign up and get $20 in BTC! Users must transfer and hold at least $200 of any coin for 30 days to be eligible for the reward. --- If you enjoyed this conversation, share it with your colleagues & friends, rate, review, and subscribe.This podcast is presented by BlockWorks Group. For exclusive content and events that provide insights into the crypto and blockchain space, visit them at: https://www.blockworksgroup.io
1 hr 9 min
Unchained
Unchained
Laura Shin
What Fidelity Is Doing With the Bitcoin It's Mined - Ep.200
Christine Sandler, head of sales and marketing at Fidelity Digital Assets, talks about how 30 years in traditional finance and an early retirement led her to Coinbase, and, eventually, Fidelity Digital Assets. She discusses the history of Fidelity's involvement in crypto, how they became one of the first to enter the space, and what the future holds. Topics include: * what Fidelity Digital Assets is and Christine's role there * Christine's background in traditional finance, how she was drawn into the world of cryptocurrencies, eventually working at Coinbase, and how she found her way to Fidelity Digital Assets * the role Fidelity sees itself playing in the digital asset space * how the client base for digital assets has changed over time * how Fidelity approaches the difficulties around explaining what bitcoin and crypto is, and the most common questions they receive * how the pandemic has changed the conversation around digital currencies * the types of services and products Fidelity is considering for the future * the differences Fidelity sees in how international investors are approaching digital currency * Fidelity's plans for a Bitcoin index fund and whether they are considering offering futures * how financial institutions and institutional investors fit into a world of decentralized finance founded with the ethos of excluding them * the regulatory improvements Fidelity is hoping to see * what a Bitcoin ETF would mean for Fidelity * how Fidelity might use a central bank digital currency in its business * Fidelity's thoughts on offering proof of stake services * whether a more deflationary Ethereum might attract more institutional investors * and whether Fidelity will offer Ethereum in the future Thank you to our sponsor! Crypto.com: https://www.crypto.com Episode links: Christine Sandler: https://twitter.com/shoegalnyc Fidelity Digital Assets: https://www.fidelitydigitalassets.com/overview Twitter: https://twitter.com/DigitalAssets Christine leaves Coinbase for FDAS: https://www.coindesk.com/fidelity-poaches-coinbase-institutional-sales-head-christine-sandler Fidelity Center for Applied Technology: https://fcatalyst.com/overview Fidelity Digital Assets looking to become prime broker: https://www.theblockcrypto.com/daily/68920/fidelity-digital-assets-eyes-service-for-introducing-crypto-funds-to-big-investors How the client profile has changed: https://www.theblockcrypto.com/daily/42342/the-client-profile-is-changing-fidelity-digital-assets-exec-says-new-players-are-entering-the-crypto-fold How to Explain Cryptocurrencies and Blockchains to the Average Person Unchained episode: https://unchainedpodcast.com/how-to-explain-cryptocurrencies-and-blockchains-to-the-average-person/ Fidelity expands crypto business to Europe: https://www.coindesk.com/fidelity-to-expand-institutional-crypto-business-to-europe Fidelity obtains New York Trust Charter: https://www.coindesk.com/fidelity-gets-a-new-york-trust-charter-to-custody-bitcoin-for-institutions Bitcoin Index Fund: https://www.forbes.com/sites/michaeldelcastillo/2020/08/26/fidelity-president-files-for-new-bitcoin-fund/?sh=13aa335445c9 Fidelity survey of 800 institutional investors: https://www.fidelitydigitalassets.com/bin-public/060_www_fidelity_com/documents/FDAS/institutional-investor-study.pdf FDAS hiring: https://www.fidelitydigitalassets.com/articles/engineering-hiring-initiative?ccmedia=owned&ccchannel=social&cccampaign=hiring_blog&cctactics=twitter Kingdom Trust: https://www.coindesk.com/fidelity-digital-assets-to-custody-bitcoin-in-kingdom-trust-retirement-accounts
53 min
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