Gear up, space cadets. We must delve into the currencies of the future before it's too late! Join Brian Beamish, Alex Sterk and the Coinigy Team for an in-depth discussion of Bitcoin, Altcoins, trading, technical analysis, and more.
## Bitcoin & Altcoin Trading Talk 37: Summary
This episode of "Bitcoin & Altcoin Trading Talk" featured a lively discussion among William Kiel (coinagy.com), Rob Borden (coinagy), Brian B. Misch (The Rational Investor), and Alex Sturk (Blog Talk). The conversation ranged from internal development updates at Coinagy to broader market analysis, blockchain applications, and even a humorous tangent about feeding cows. The initial segment was briefly disrupted by a technical issue that inadvertently broadcast the podcast in Spanish. Overall, the hosts expressed a cautious optimism regarding Bitcoin's future, while acknowledging current market uncertainties and the need for fundamental catalysts to drive significant price movement. They also highlighted the importance of real-world utility and verifiable standards in blockchain applications beyond the hype.
### Main Topics Discussed
- Coinagy Development: The team is expanding with a C# developer (Byron) to improve chart scanners and refactor the backend.
- Bitcoin Certification (CBP): Alex Sturk recently obtained a Bitcoin certification and shared his experience.
- Blockchain & Food Provenance: Alex is developing a white paper exploring blockchain's potential for tracking food origins and implementing prediction markets for data accuracy.
- Bitcoin Market Analysis: The hosts discussed Bitcoin's current "drifting" price due to a lack of fundamental catalysts, the impact of the Phinex situation, and potential influences from Chinese buying pressure related to G20 summit concerns about carbon taxes.
- Chinese Bitcoin Activity: Speculation arose about Chinese citizens buying Bitcoin directly from miners to hedge against environmental regulations and move assets.
- SegWit Delay & Lightning Network: The ongoing delay of SegWit, a crucial upgrade for the Lightning Network, was a source of frustration.
- Canadian Banking & Coinbase: Canadian banks restricting access to Coinbase is causing market disruptions.
- Volatility Risk Management: Businesses using Bitcoin must manage volatility and often convert holdings to fiat currency.
- Market Sentiment & "Cleanup": The Ethereum DAO issues and a previous auction event are contributing to a market "cleanup."
- Nomad Crypto Community: Briefly touched upon.
### Key Quotes
- William Kiel: "It's kind of been robbing my baby, you know, for so many years." (referring to the development of Coinagy)
- Brian B.: "I just don't see any fundamental catalyst for drivers [for Bitcoin]."
- Alex Sturk: "If that's the only thing you have to offer...you're no different than the organic aisle at the grocery store." (regarding current food provenance blockchain projects)
- "I'm at the, you know, they’re back operating [Phinex]. I think it's starting to get in the back of people's minds now, finally."
### People Mentioned
- William Kiel: Host (coinagy.com)
- Rob Borden: Guest (coinagy)
- Brian B. Misch: Guest (The Rational Investor)
- Alex Sturk: Guest (Blog Talk)
- Byron: New Coinagy team member (C# developer)
- Obama: Referenced in relation to the Paris climate accords.
### Bitcoin Price
The host noted Bitcoin's price was currently "drifting" due to a lack of fundamental catalysts. No specific price point was mentioned.