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Why did BTC Crash? Congress vs CBDCs; ALGO Dying… or Dead?

Originally aired on August 18, 2023

In this wide-ranging episode, hosts Nick and Brandon covered crypto security tips, updates on their new Digital Investor service, AI developments, workforce impacts from AI, crypto market turmoil, and more. Nick advised being extremely careful with private keys, avoiding suspicious links, and going slow in crypto to avoid scams. The hosts announced that their new Digital Investor service focusing on crypto investing will launch September 1 behind a paywall. They discussed AI startups, apps, adoption across industries, and the need for workers to learn AI skills. Nick and Brandon analyzed reasons for the crypto crash including old SpaceX bitcoin selling, Evergrande’s bankruptcy, and Fed rate hike fears. They critiqued the Algorand team’s poor communications and examined a Congressman’s opposition to central bank digital currencies.

How to safely invest in crypto:

  • Don’t share private keys or passwords
  • Avoid suspicious links and scammers
  • Take it slowly and carefully in crypto

Launching a new crypto investing research service:

  • Digital Investor service starts September 1
  • Will be behind a paywall then
  • Currently public shows until September

AI adoption and impacts across industries:

  • AI startups emerging globally
  • Social media app uses AI-generated images
  • Companies racing to leverage AI
  • 40% may need job retraining

Analyzing causes of the recent crypto crash:

  • SpaceX previously sold its bitcoin
  • Chinese developer Evergrande bankrupt
  • Fed rate hike fears, but overblown
  • Liquidations cascade in futures markets

Congressman opposes central bank digital currencies:

  • Sees dystopian risks from CBDCs
  • Plans to introduce bill criminalizing them
  • But CBDCs seem inevitable globally

Algorand team failed to effectively communicate:

  • Token hit all-time lows in selloff
  • Team seen as arrogant and out of touch
  • Hurting token price and community