Rare Sats and Virgin Coins: Bitcoin Happy Hour with George Burke and Deedle of Portal

The Charlie Shrem Show

Hey hey! Welcome to Rare Sats and Virgin Coins: Bitcoin Happy Hour with George Burke and Deedle of Portal

Last week, we had an engaging and insightful discussion with some of the OGs in the crypto space. Here's a rundown of what we covered:

Introduction and Special Guest

We kicked off the episode with a bit of banter about "proof of ice" and "proof of happy hour," setting a light-hearted tone. I was excited to announce that a very special friend and my ex-co-founder would be joining us. Although he was a bit elusive at first, we eventually got him on board.

Market Cap's State of Crypto Report

We delved into Market Cap's first half of the year state of crypto report. The report highlighted various trends, including memecoin communities, Bitcoin L2s, and Rune-related projects. It also featured a hypothetical section on market cycles, which sparked an interesting discussion about the future of crypto markets.

ECC Conference and Trump Announcement

We touched on the ECC conference moving from Paris to Brussels and then to another location due to safety concerns. Additionally, we discussed Trump's announcement about speaking at Bitcoin Nashville and the introduction of the "Trump pass," which led to a broader conversation about the intersection of politics and Bitcoin.

Ross Ulbricht and Criminal Justice

The conversation took a serious turn as we discussed Ross Ulbricht's case and the broader issues of criminal justice reform. We debated the fairness of his sentence and the potential for a presidential pardon.

Bitcoin as a Sovereign Tool

We explored how Bitcoin serves as a sovereign tool, enabling individuals to question existing financial systems and media narratives. This led to a discussion on the psychological impact of Bitcoin's price fluctuations and strategies to mitigate emotional responses.

Cold Storage and Security

We shared various strategies for securing Bitcoin, including using cold storage and multisig wallets. One interesting anecdote involved a friend who keeps his BTC in a safety deposit box in a flyover state, making it difficult to access and thus less likely to be impulsively sold.

Bitcoin Debit and Credit Cards

We reminisced about the early days of Bitcoin debit cards and the challenges we faced. My co-founder and I had worked on FreshPay, one of the first Bitcoin debit cards in the U.S., and we discussed the evolution of this concept over the years.

Guest Introductions

We had several guests join us, including Deedle from Portal, Vic from CakeWallet, and Petty from Runes Terminal. Each shared their background and current projects, adding depth to our discussion.

Bitcoin Scaling and Innovation

We discussed the future of Bitcoin scaling, including the potential of runes and other innovations. Petty provided insights into the current state of the market and the challenges of user adoption.

Silent Payments and Privacy

Vic introduced us to the concept of silent payments, a new privacy feature in CakeWallet. This led to a broader discussion on privacy in Bitcoin transactions and potential future developments.

Mt. Gox Creditors and Market Impact

We talked about the long-awaited repayment to Mt. Gox creditors and its potential impact on the market. Opinions varied on whether this would create significant selling pressure.

Nation States and Bitcoin Accumulation

We speculated on whether nation states are quietly accumulating Bitcoin and the strategic implications of such actions. This included a discussion on the role of government seizures and stealthy market purchases.

Taxation and Selling Bitcoin

Finally, we touched on the complexities of taxation for long-term Bitcoin holders and strategies to minimize tax liabilities, including moving to Puerto Rico under tax act 60.

Thank you for tuning in! We hope you enjoyed this episode and gained some valuable insights into the ever-evolving world of Bitcoin and crypto!

Charlie