Canadian Politics, Money Printing, and Championing Bitcoin
In this episode, Brad sits down with Sunny Ray and Kyle Kemper. Ray is the cofounder of one of the largest exchanges in India, Unocoin, while Kemper is Justin Trudeau's half-brother and a diehard Bitcoiner. Ray and Kemper are also the hosts of the Love and Freedom podcast, a platform that discusses "current events, challenges, & the opportunities for freedom."
The trio talk about the state of politics in Canada and their wish for Bitcoin advocate and Conservative Party leader Pierre Poilievre to come to power. They also debate what global money printing portends for the common person and why this proves the case for Bitcoin once more. Tune in for these and more!
Timestamps
00:00:00: Intro by Brad and commentary on Canadian politics
00:09:48: Conservative Party leader Pierre Poilievre is a champion for Bitcoin
00:13:20: The excessive money printing in Canada and how Bitcoin comes in
00:33:00: On securing your financial future with Bitcoin
00:42:50: Could central banks and surveillance capitalists be behind NFTs and DeFi?
00:49:00: Ethereum's proof of stake model flies against principles of decentralization
00:53:23: Delving into Web 3 scams and Dogecoin & Elon Musk
01:06:50: For some countries, Bitcoin is not a luxury
01:23:00: Why we need unification in crypto
01:28:35: The role of money printing in propagating wealth inequality
01:45:16: Bitcoin is on track to being worth a hundred thousand dollars
Canada's Justin Trudeau in February invoked the Emergencies Act — the never-before-used law since it was enacted in 1988. The unprecedented move was in response to the Freedom Convoy that had caused blockades in major border crossings in the country and gridlock in the capital. The Convoy was protesting against vaccine mandates and passports.
The Emergencies Act cleared the "occupation" in Ottawa and also froze the bank accounts of tens of the Convoy organizers and participants. These actions were described by protesters and the opposition as unconstitutional and an overreach. For Bitcoin adherents, it illustrated the need for Bitcoin.
Brad, Sunny and Kyle sit down against this backdrop. The three discuss how the Conservative Party — one most Canadians have never voted for — suddenly became the party of choice in the face of everything. It helps that PC leader Pierre Poilievre is a Bitcoin champion.
What do all those events mean for the crypto pioneer? The three delve into that, as well as why you personally need Bitcoin, the space's scams, Elon Musk's promoting Dogecoin, Jack Dorsey quitting Twitter, and more.
Below are some of the highlights of the conversation.
#1. Securing Your Financial Future With Bitcoin
Covid 19 saw several countries opting to print more money to help keep their economies afloat. But printing more money is bad for the economy since it can trigger inflation. This rampant cash printing saw many corporates previously wary of touching Bitcoin shovelling money into the asset to derisk their finances.
Brad reminds people of the importance of doing the same. He and Kyle emphasize the importance of not placing your financial future on whoever is elected.
Brad remarks on Bitcoin being more a "productive protest" than a physical protest that the government will crack down on anyway. Sunny contends that Bitcoin needs only to continue existing to prove its importance in the face of such extremes by central banks.
#2. Does Ethereum Have a Decentralization Problem?
Many praises have been sung on Ethereum's transition from Proof of Work (PoW) validation model to Proof of Stake (PoW). Environmentalists are happy because it will reduce carbon emissions and sections of the cryptocurrency community welcome it because it takes off some of the weight of the environmental impact blame.
But PoS allows only those with the means to become validators, making the network more centralized. Brad notes that the Bitcoin documentary "This Machine Greens'' recognizes that PoW can actually help us "to accelerate to renewable energy." As such, PoW is not the environmental threat it's claimed to be.
#3. The Resilience of Bitcoin
The trio deliberate on the rise of Web 3 products from DeFi to NFTs and whether that's stifling for Bitcoin. The answer is no, with Bitcoin being the "truth and the signal" à la Brad. Kyle likens Bitcoin to a rat for having everything thrown at it but still thriving.
Also, the citizens of countries such as Nigeria, El Salvador and Venezuela aren't overly concerned with all these blockchain offshoots because their main concern is Bitcoin, which has a real difference to their lives.
Podcast Mentions:
Chrystia Freeland's Cognitive State Capture(book)
The Lightning network
When money Dies by Adam Ferguson (book)
Principles for Dealing With a Changing World Order by Ray Dalio (book)
"This Machine Greens" - Bitcoin Documentary
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