EPISODE · Apr 27, 2021 · 2H 8M
Bitcoin Breaking Into Traditional Finance
from Magic Internet Money · host Keegan Francis
Brad Mills invites financial expert Greg Foss onto the show to talk about Bitcoin breaking into traditional finance. Greg discusses his 30 years of experience in the field of engineering and finance. Greg further explains to Brad the differences between a closed end fund and an ETF, and why a closed end fund in Canada is a big step for Bitcoin. The two debate about the current financial system; Brad on the side that it’s a ponzi scheme casino and Greg on the side of mathematics. Finally the duo speculate about the current state of the Canadian economy, and what Bitcoin might be able to do to help.Timestamps00:00:07 - Introduction00:02:23 - Show start00:04:44 - QBTC vs Bitcoin, what’s the difference?00:07:04 - The importance of tax deferred accounts permitting Bitcoin00:14:11 - Differences between an ETF and a closed end fund00:22:10 - Archegos “black eye on the US hedge fund community”00:25:17 - Currency Wars discussion and other book recommendations00:28:00 - The Casino for whales debate00:37:34 - A brief economic history lesson about Rogers Communications00:44:44 - Credit rating arbitrage discussion00:48:05 - Shareholder profits, taxpayer losses.00:55:40 - Understanding capital structure and the regulated market01:04:00 - Quebec pensioners and lessons about risk01:08:40 - The higher perspective of the regulated economy01:12:45 - Bitcoin as default protection01:15:55 - Why do banks have equity?01:19:43 - Toxic debts and brady bonds conversation01:28:55 - How equalization affects Canadians01:33:05 - What if Canada owned Bitcoin?01:36:04 - The Alberta situation and Canadian economic speculation01:40:14 - Discussion on the adoption of Bitcoin01:47:25 - Validus Power Company discussion01:52:10 - Bitcoin and it’s relation to traditional finance giants, MMT02:00:50 - Closing remarks about gold02:04:39 - Outro and social media plugsLinks to Mentions in the ShowThree IQQBTCWhat is a closed end fund?What is an ETF?Fred PyeArchegos controversyCurrency Wars by James RickardsWhat is credit rating arbitrage?Validus PowerJeff BoothFind Greg FossGreg Foss TwitterFind Brad MillsBrad Mills TwitterMagic Internet Money TwitterMagic Internet Money FacebookMagic Internet Money InstagramProduced by Brad Mills - Twitter, Jason Sanderson - Podcast Tech. Art by Daniel Huddlestone, Show Notes by Go Full Crypto.Other Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of Bitcoin & all cryptocurrencies by Satoshi Nakamoto.
What this episode covers
Brad Mills invites financial expert Greg Foss onto the show to talk about Bitcoin breaking into traditional finance. Greg discusses his 30 years of experience in the field of engineering and finance. Greg further explains to Brad the differences between a closed end fund and an ETF, and why a closed end fund in Canada is a big step for Bitcoin. The two debate about the current financial system; Brad on the side that it’s a ponzi scheme casino and Greg on the side of mathematics. Finally the duo speculate about the current state of the Canadian economy, and what Bitcoin might be able to do to help. Timestamps 00:00:07 - Introduction 00:02:23 - Show start 00:04:44 - QBTC vs Bitcoin, what’s the difference? 00:07:04 - The importance of tax deferred accounts permitting Bitcoin 00:14:11 - Differences between an ETF and a closed end fund 00:22:10 - Archegos “black eye on the US hedge fund community” 00:25:17 - Currency Wars discussion and other book recommendations 00:28:00 - The Casino for whales debate 00:37:34 - A brief economic history lesson about Rogers Communications 00:44:44 - Credit rating arbitrage discussion 00:48:05 - Shareholder profits, taxpayer losses. 00:55:40 - Understanding capital structure and the regulated market 01:04:00 - Quebec pensioners and lessons about risk 01:08:40 - The higher perspective of the regulated economy 01:12:45 - Bitcoin as default protection 01:15:55 - Why do banks have equity? 01:19:43 - Toxic debts and brady bonds conversation 01:28:55 - How equalization affects Canadians 01:33:05 - What if Canada owned Bitcoin? 01:36:04 - The Alberta situation and Canadian economic speculation 01:40:14 - Discussion on the adoption of Bitcoin 01:47:25 - Validus Power Company discussion 01:52:10 - Bitcoin and it’s relation to traditional finance giants, MMT 02:00:50 - Closing remarks about gold 02:04:39 - Outro and social media plugs
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Bitcoin Breaking Into Traditional Finance
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