Macroeconomics & On-Chain Data with Nik Bhatia & Willy Woo - WBD Live in Sydney - WBD711

On September 9th What Bitcoin Did hosted a live show in Sydney.
In this second of two podcasts, the guests were the founder of
The Bitcoin Layer & Author of Layered Money Nik Bhatia, &
and Bitcoin analyst & partner at Crest Willy Woo. Across
these interviews, we discussed various topics related to Bitcoin,
including its Bitcoin's volatility, its potential as a global
currency and the prospects for Bitcoin's global adoption. The
show includes the Q&A from the event.


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This is the second of two podcasts sharing interviews from What
Bitcoin Did’s first Australian live show that was recorded in
Sydney. However, this show is with 2 regular guests of the
podcast who always bring unique and invaluable insights into
Bitcoin’s evolution: Nik Bhatia and Willy Woo.


Nik is an adjunct Professor of Finance at the University of
Southern California. We talk about how he has introduced Bitcoin
into the curriculum following the success of his book “Layered
Money”. Nik’s course covers the technical aspects of Bitcoin,
starting with the white paper and delving into topics like
blockchain, mining, and cryptography. He also contextualizes
Bitcoin within the broader financial world and discusses its
valuation and differences from other cryptocurrencies.


Nik also highlights his divergent opinions about Bitcoin. He
doesn’t think it is a magic bullet: Nik believes it will take
mass adoption for it to start fixing things in the economic
system. And yet, Nik is passionate about Bitcoin’s incredible
potential, particularly in non-US and non-western countries. The
discovery of Bitcoin as a tool for financial empowerment in these
regions is arguably the most exciting thing about Satoshi’s
innovation.


Willy has long provided great analysis of Bitcoin’s price
performance. In this show, he discusses the volatility of Bitcoin
returns. Willy explains that Bitcoin has historically had high
volatility but is now converging with other macro assets in terms
of trading range. He attributes this to the financialization of
Bitcoin, with the introduction of futures and other paper
markets. However, he expresses concern about the control these
paper markets have over the price of Bitcoin.


The conversation with Willy then shifts to Bitcoin's potential as
a global currency. While lower volatility may be desirable for
stability, it may not be ideal for Bitcoin's growth and adoption
as a global currency. We discuss the current state of the fiat
system and the potential collapse of traditional currencies,
which could further drive the adoption of Bitcoin. Then, the
floor was open to a Q&A with all five of my live show guests,
which made clear there's always plenty to discuss!


 


Show notes:
https://www.whatbitcoindid.com/podcast/macroeconomics-on-chain-data-with-nik-bhatia-willy-woo-wbd-live-in-sydney


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