When we started this podcast, we predicted that there will be a phase of the industry that would see the adoption of cryptocurrencies at the country level. This level would be the last phase before we would have world wide adoption taking place. Today was the first step of that phase. El Salvador officially acknowledges Bitcoin as legal tender for the country. President Nayib Bukele of El Salvador is setting a precedence for the rest of the countries as the adoption of Bitcoin is imminent. The Colonial pipeline hack compromised a fundamental part of the US infrastructure, however did the FBI really compromise Bitcoin? Finally we debate on whether we're going to see a resurgence of Bitcoin and the field of cryptocurrencies sooner rather than later.
On today's podcast we interview Scott Gray, head of business development of Dev Protocol! We get an inside look of the economics of tokenizing open source software. With Dev Protocol, any developer can generate 10 million tokens as a way to capture and distribute value to their own community of supporters. Supporters can stake Dev tokens to support the development of different projects in order to participate and support a project so that devs can focus on their project. Supporters who stake mint new Dev tokens that are split between the staker and the project they stake with. We also discuss anonymous development and the chances of it becoming a more common and sustainable way to develop projects. Scott also gives his outlook of the long term application of Bitcoin.
Since the announcement from Tesla on purchasing $1.5 billion worth of Bitcoin, Iman and William have been discussing the potential snowball effect. What could the United States government do if a large portion of business start allocating a percentage of their reserves for Bitcoin? With Oracle, Apple, and Google likely on their way to make their announcements, the U.S. Government could pull the plug to slow the growth of this new asset. Maybe they understand the potential and decide to encourage development state side and have relaxed regulation. Tune in to see where you stand in this debate.
On today's podcast, we determine whether Bitcoin is going to break into a new all time high towards $50,000. We determine whether we're on track following the Moon Math of the stock-to-flow model and the non-linear regression curve. Then we discuss how there could be a chance that we might see a super cycle due to financial institutions adoption cryptocurrencies. Could we actually hit $1 million Bitcoin this cycle? Other indications show that retail investors are not in yet. Finally we debate whether or not the next wave of hyper growth is in the DAO sector tokens.
Today we learned that Robin Hood and many other brokers prevented the free trade of buying GameStop stock and many other meme stocks in order to satisfy hedge funds losing their shirts. We discuss the huge implications of this, potentially a class action lawsuit, and how Bitcoin and Ethereum will usher in a new wave of users as a result. Injective Capital has built a decentralized futures trading platform prevents corruption. We debrief over a Risk Tokenizing Protocol in Barn Bridge.
We transition from President Trump to President Biden we anticipated a lot of friction during the inauguration, but nothing happened. This is good news as we're able to continue evaluating where the crypto market goes with what could be far less distractions. We also experiment with short form content on Youtube to test out a few assumptions and it seems to be gaining more traction. We discuss why blockchains need to merge onto a single network in order to sustain a larger audience. The world's money in a visualization helps bring perspective at how small cryptocurrency industry actually is. Finally, the derivatives market is so large no one really knows how big it is, but cryptocurrency projects are beginning to tackle this market which could bring significant amount of attention to the space.