BlackRock & the Bitcoin Signal with Preston Pysh & Matt Odell Live - WBD685

Preston Pysh is a co-founder of The Investor Podcast Network, and
Matt Odell is host of Citadel Dispatch, co-host of Rabbit Hole
Recap, managing partner at Ten31 and co-founder of OpenSats and
Bitcoin Park. In this interview, we discuss Bitcoin’s impact on
privacy, freedom, and the financial system. We also talk about
the impact and risks of BlackRock’s involvement in Bitcoin, the
challenges faced by energy companies adopting Bitcoin, and
Bitcoin’s potential to massively reorganize wealth.


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This is another What Bitcoin Did live show, this time held in
Bitcoin Park in Nashville, with two heavyweights of the Bitcoin
community: Preston Pysh and Matt Odell. As ever for a live show,
we used the opportunity to cover a range of topics. But, the show
focused on two main issues: the perennial concern about whether
enough users recognize the critical need for privacy to maintain
freedom in the digital age; and a new concern regarding
BlackRock’s impact on Bitcoin.


There are significant risks associated with centralized control
and surveillance by governments and corporations, but, the
iterative eroding of rights means that these systemic risks are
often underappreciated. Most people prioritize convenience and
are not actively seeking out privacy-oriented tools. To avoid a
dystopian future with limited freedom people need to be empowered
with both education and user-friendly tools.


Further, the lead in promoting and facilitating privacy lies with
individuals outside of established multinational tech platforms;
grassroots adoption of freedom tech is key to the success of this
mission. The oligarchs who control large tech platforms, whilst
promoting principles predicated on freedom of expression,
actually prioritize the massive collection of data and control.
Having a trustless system means just that: we shouldn’t need to
rely on the word of any one person.


The concern about BlackRock’s proposed Bitcoin ETF also covers
the concern regarding privacy and centralised control. In
essence, will BlackRock’s involvement increase adoption and
strengthen Bitcoin, or, will the reliance on a centralised
company to hold a large concentration of paper promises weaken
Bitcoin? BlackRock’s power will spread interest in Bitcoin, but
will also certainly erode the ongoing push for self-custody.


Further, are concerns about BlackRock dominating Bitcoin and
forcing a hard fork overstated? Certainly, BlackRock could exert
influence on Bitcoin, particularly from a regulatory standpoint.
But, Bitcoin is resistant to change, and, there is already a
significantly strong and cohesive community of hodlers. A major
legacy financial institution trying to exert its influence on
Bitcoin could yet be Bitcoin’s biggest and most important battle.


 


This episode’s sponsors:
Iris Energy - Bitcoin Mining. Done Sustainably
Ledn - Financial services for Bitcoin hodlers
Bitcasino - The Future of Gaming is here
Ledger - State of the art Bitcoin hardware wallet
Wasabi Wallet - Privacy by default
Unchained - Secure your bitcoin with confidence