Willy Woo: Bitcoin / Beyond the Moon / Ep 150-151

Follow Willy on Twitter: @woonomic

 I recommend Easy Crypto for any  Crypto buyer based in NZ (as mentioned in this show)

The economic revolution will not be televised –  partly I suppose, because it’s old news – and perhaps it wouldn’t get good ratings. In 2009 however, when Bitcoin came on the scene, you likely wouldn’t have guessed it was the start of a revolution…but in many ways, it was. For so called fanatics out there that believed in being free and living in a democratic fashion, Bitcoin was the ultimate gift – the fact that by owning it, you were casting a downvote for the status quo made it all the more satisfying.

The financial markets aren’t boring, but they sure can be complicated. Thinking about investing on your own, even taking out insurance – you quickly realise that often the complexity has been baked into the product, or there’s at least a general trend for complexity over time. Along comes Bitcoin, a finite piece of cryptography lingering on the internet, open to all who want to peer into it’s inner workings.

We’ve observed a sharp increase in accessibility to investing over the last few years, yet some would say we haven’t observed more transparency. We can all get involved yes, but there’s a growing sense that everyday investors aren’t really playing with the full deck of cards. So along comes Bitcoin, and it’s there for anyone with internet access – it appears to be less opaque than the current financial system for many people, and it’s most certainly going to appeal to the libertarians among us. Still, some would suggest Bitcoin is [still?!] a Ponzi scheme that relies on a greater fool always being around to buy it off you in the future. Much like I wouldn’t suggest investing in the S&P500 is a Ponzi scheme though, I don’t think holding this crypto-asset would be either – perhaps during the first bull market you could be forgiven for thinking this was another Tulip bubble, but not now. In fact, people who still cling to the idea that Bitcoin is a scam, the government is going to shut it down, or that there’s no intrinsic value at all, most likely don’t own any of it. For these people, the statement they’re trying to make was that if it was any good, they’d already own it. #ignorantarrogance

So today we’re, talking to Willy Woo about his background – how he came from Napier in NZ and how now, he’s considered one of the finest Bitcoin on-chain analysts in the world. The traditional financial system is perhaps fine – perhaps all will return to normal and things will carry on much as it has for decade. On the other hand, perhaps Bitcoin is the first battle by resistance fighters against our imperial overlords being fought right now in the financial realm.