Macro crypto narratives and investing via first principles, with Jordi Alexander
In this episode of UpOnly, Cobie & Ledger talk to Jordi Alexander, who uses a system of first principles based analysis and a macro outlook to invest in crypto.
Presented by FTX: uponly.tv/ftx
/ gametheorizing
00:00 - Intro
02:40 - Background / How Jordi got into crypto
07:35 - Su Zhu DOGE debate / Game theory / Meme stocks
11:50 - Will there be a rotation to underlying value and utility? / Accumulating more Bitcoin
14:45 - Bitcoin as a store of value / Bitcoin’s role in a bear market
17:00 - How the game has changed / Correlation to macro / Wealth inequality
19:26 - Does Bitcoin reduce economic activity? / Gold
24:38 - How does crypto translate to moral equality?
27:30 - Crypto market segments / DeFi / Layer 1s / Securities
34:20 - Macro outlook for 2022
39:00 - Fundamental value vs. Tokenomics / NFTs / Ponzis
48:50 - OHM and Game Theory
53:55 - Richard Heart and HEX
1:03:00 - Web3 / Ownership economy / NFTs
1:19:00 - Crypto Twitter / Trading vs. Investing / Protecting gains
1:28:00 - Crypto market outlook 2022 / What can extend this cycle?
1:33:30 - Su Zhu and Crypto Twitter
1:35:40 - CIA involvement in crypto / Ethereum’s dynamic nature
1:42:45 - What is money? / Ethereum compared to AWS
1:52:50 - How to measure efficiency? / Efficient markets
1:56:20 - Questions from the chat
2:11:38 - Free alpha
Пікірлер: 89
Two years later and Jordi was spot on, bravo
@sopdfsopdfiopsd
2 ай бұрын
Jordi is a humble goat
The Ran drama brought me here… funny enough, this show is way more valuable that CB and I’m glad not everybody is seeing this content lmao
@leunamtv9532
2 жыл бұрын
What was the drama?
@Nick-it2ne
2 жыл бұрын
I'm convinced we are early to the joe rogan level of crypto podcasts.
@bryandriscoll4473
2 жыл бұрын
Crypto banter is horseshit garbage yeah
Amazing convo great work lads!
Impeccable timing! Looking forward to this episode y'all!
Pay attention to macro shift in treasuries. Fiat is going back to govt bonds and crypto will painfully deflate in the spring. Just summarizing Jordi.
Great episode!
Jordi is dope and super smart
More episodes like this please!
Brilliant! Keep it up.
what a good episode
I love those FTX ads lol. On the real tho, great interview.
Great show again
43:00 ish. APY. Can someone explain to me how it never accumulates??? I didn't quite understand his explanation. Thanks
Jordi has NAILED 2022... i really want to see what happens to BTC over the next few months.
I love the uponly intro song
Watched this 3 months after the fact. Jordi picked it like a dirty nose. Great show from all 3 of you.
Tis one was gud!
Ty sirs
Thanks fellas. Long DOT, SOL, LUNA, ETH
@JavierFlores-qn3hy
2 жыл бұрын
Dot? Lol
Gotta give props here for a bitcoiner that realizes that the 21M cap is unsustainable. If they get consensus around this, then implementing things like proof verification for rollups wouldn't be a sretch either. This would significantly alter my perception of Bitcoin and quite possibly make me move some ether into btc.
i like this guy
12/2021 BTC circa 50k : ) always interesting to listen retrospectively no transcript : ( hard to listen to at speed thanks
So: inflation is going to get so bad fed with have to taper/intervene, rates go up and liquidity starts to vanish markets are disrupted = "new market" next year?
yes a new decentralised airbnb is incentivised to overtake the last decentralised airbnb, but it will be held back by small network effects so unless its a fundamentally better protocol its net advantage is neutral. true capitaliism. true competition. no monopolies.
had to log in to my second acc to ask for smol guy satsdart from 2 accs for more chance to be noticed
You get rev share when you stake AXS
@sommi888
2 жыл бұрын
and with HEX theres peopel locked in for 5-10yrs who are going to shill it for you ... theres also no difference with Bitcoin. if everyone wanted to sell it, it goes to zero . its the same thing.. everything is 'greater fool' theory ure right about AXS
@artpatron719
2 жыл бұрын
It’s weird, have any of the speakers used these projects
Deflation isn't inherently unsustainable, however there does need to be a consistent redistribution mechinism. This is where Ethereum's model is sustainable long term compared with BTC's 21mil cap that will eventually compromise the security model without changes.
@whoislewys3546
2 жыл бұрын
How does eth redistribute while being deflationary? Or could you provide a link if you don't feel like explaining?
@mrocklop
2 жыл бұрын
@@whoislewys3546 By redistribution I am referring to the way staking rewards work. For BTC rewards will slowly dwindle down to 0 in approx 120 years. In contrast, ETH will have a perpetual ~4% inflation, while even more than that will be burned, making it overall deflationary. This has the effect of creating a flow of ETH to all holders of ETH (rETH or similar will be the main asset held by users, very few will hold plain ETH), stimulating economic activity. Essentially, ETH holders will always get an APR on their savings, while this is not the case for BTC. That's all I meant, maybe 'redistribution' isn't the most accurate term.
People get WAY too hung up on the max 21 million bitcoin thing. It's a complete non-issue, here's why...There will be a maximum of 2,100,000,000,000,000 satoshis. If Bitcoin goes to 1 million dollars per coin, each sat would be worth 1 cent. Need more sats??(unlikely but possible), then divide one sat by 10, which is non-dilutive, and a complete contrast to how central banks create more fiat(by addition). So even if all fiat currencies disappear tomorrow, the world will never need more than 21 million Bitcoin.
@ryangoodwin2466
2 жыл бұрын
bitcoin emissions schedule probably makes this wrong it’s not at all about fiat
✨✨✨✨✨✨✨✨✨✨✨✨💯
this is the first non-larper on this show in a while
wen little guy satsdart?
Fed is playing a game, they will talk the taper but the market would be merked if they did it more than once.
The QE never stops, as soon as it would fully stops and markets reacted with a big drawback, everybody’s collateral value crashes and in these levels all debt that means gameover. The fed cant let the collateral go to zero, and they cant let the boomer pensions go to zero. So we might get some taper tantrum and then imo back to more QE or some other simillar
@artpatron719
2 жыл бұрын
Yea little surprised that pt was never raised. Does any of the participants really believe they are tapering, let alone it starting Q2 or Q3 of 2022?
1:47:30 Pokt fixes this
11dec 2021 goodShow #flux
Jordi...repeat with me "I will not be on ..... when recording videos" :)))))
Ledger is like listening to Freedom Rock, you need to turn him up.
aws was that man in black moment at the end lmao
talk about how XRP is also a shit coin, along side of coins like Hex, an safemoon
@onecoolstorybro
2 жыл бұрын
Found the Low IQ post - HEX is a 200 IQ project.
why do you guys think hex has consistently outpaced BTC & ETH's first 2 years of ROI?
@joshryan4979
2 жыл бұрын
Cause its better lol
53:13 guest states there's no economics benefit from staking Axi or .... Do you think we are entering a world where the benefits are no longer needed for the new generation to enter?
Because you guys didn't put in the time to understand the brilliance behind hex and instead simply labeled it a ponzi, you and your audience will be left behind and miss out on the massive gains to come. Enjoy the gatekeeping, your fans will appreciate it😉
Hodl dollars and buy the dip
Ur totally wrong about richard heart ledger. Just have him on to your podcast because he ISNT A SCAMMER. Matter of fact i doubt you have the balls to even have him talk on his show. Dont be a coward, and man up. If you are gonna call someone a scammer without any evidence then back it up and say it to their face.
There is something that these guys got incorrect about bitcoin; yes there are only 21 Million Bitcoin, but BTC is divisible.. after BTC there are mBTC and smaller than that is microbits and finally there are Satoshis. (see below) The general unit structure of bitcoins has 1 bitcoin (BTC) equivalent to 1,000 millibitcoins (mBTC), 1,000,000 microbitcoins (μBTC), or 100,000,000 satoshis.
@artpatron719
2 жыл бұрын
Really good pt. Yet It doesn’t feel like their intent was to deep dive, more just comedy. Really to early to know if hodl ethos will be Btc undoing or that the fee security model will not wrk. The question of utility. Store of value or in hex instance a certificate of deposit. If trad fi CD pay out in dollar emissions why can’t cryptocurrency?
@GregorizZ
2 жыл бұрын
Of course they understand that it's divisible. The point was that unless there's some inflation it will incentivize hoarding.
@artpatron719
2 жыл бұрын
@@GregorizZ if it is divisible then why does hodl class matter? The Sats increasing value will benefit the small bag holders.
@polomadmo
2 жыл бұрын
@@GregorizZ I would say what they think, and what will happen is not a definitive at this time.
IMO the ETH 'ultra sound money' meme in no way distracts from it's reputation as the most decentralized and advanced smart contract layer. In fact the most attractive L1 needs it's token be the most sound core asset, as it goes hand in hand with the PoS security model. If BTC is sound money because it is scarce, ETH is ultra sound because it's both scarce and deflationary, that's all that means... If you don't think ETH is money, you're missing the point of the ETH token. The Ethereum network needs its token, Ether, to be money, and it's turning out to be the most sound money in the space.
Ledger don’t worry what Richard is doing with his money. What are you doing with your money ?
"ETH can't be ultra sound money if you can change the monetary policy on a whim" who is changing anything on a whim? EIP 1559 took over 3 years go go through with wide community consensus. If you're saying anything that changes can't be money I think that is flawed understanding. ETH is the most sound money in the space, in addition to gas and store of value. It's not an either/or proposition, that's what makes ETH a 'triple point asset' as Justin Drake would say.
@dee4560
2 жыл бұрын
Sound money isn’t unusable for 90% of the worlds population due to gas fees, sorry. What are you smoking?
@mrocklop
2 жыл бұрын
@@dee4560 It will be used via layer 2 solutions, as will 99% of all activity secured by Ethereum.
fei stablecoin $1.02 9/27/23
I’d respect the Ethereum FUD here a lot more if the claims were true. They’re unfortunately exaggerated. EIP 1559 was not added on a whim. It was suggested years earlier. It incentivized usage of ethereum and makes holders hyper-focused on long term utility. And if it really ran on AWS, why didn’t the chain nor the beacon chain fail yesterday when all tech platforms on AWS failed? Horribly misinformed arguments for someone with this much alpha.
@archiehickox6518
2 жыл бұрын
RRREEEEEEEEEEEEEEEEE
@r3I4x
2 жыл бұрын
@@archiehickox6518 triggered? I’m just raising standards
@artpatron719
2 жыл бұрын
I am so confused by so many bad takes in this episode
This guy's view of bitcoin is old news. Ethereum will carry the bear market. Hopefully you guys keep him in check I'm at the beginning.
@onecoolstorybro
2 жыл бұрын
Alas they did not, 1/5*
@thecryptobunker
2 жыл бұрын
@@onecoolstorybro unreal
@theonlyconstantischange123
2 жыл бұрын
He relaxed over the course of the interview. Beginning was the most hate from him. My only gripe is that his argument breaks down. When btc has these properties, it's money. When ether has these properties& more... Not money. He is aware that btc will eventually likely introduce inflation to combat the eventual miner issues. To me anything that's a medium of exchange is money. As ledger said, the whole ultrasound money meme was just a response to a btc meme of sound money. There's no hard line when something just "becomes" money so a lot of this back and forth bickering is useless. Other than that, pretty decent macro to listen to
Bitcoin is immutable monetary policy smart contract.
Ledger please prove Richard has dumped any hex
Amount of how smart this dude really is = sqrt(the amount of smart this dude believes he is)... So cringe meh
since they're interviewing a Bitcoin maxi, I hope BTC dumps below 10k next year
Show me where the Eth Devs call Eth money? Ultra sound money is a meme created by Eth lovers to troll bicoins "sound money narrative".
woa the cobies laught is so boring STOP DOING THAT KID