Episode Details

Host:

• Markose Chentittha
• RA George

Episode Title: Unfiltered Chat - Weekly Crypto, Blockchain & AI Snapshot

Topics Discussed:

1. Economic Data’s Impact on Bitcoin/Crypto:

   • Snapshot from the economic calendar (MarketWatch reference).
   • Relevance of this data to Bitcoin and crypto markets.
   • Bitcoin’s place in the top 10 global assets (was 6th weeks ago).
   • The role of institutional investors and U.S. politics.

2. Key Economic Events This Week:

   • Monday: Labor Day in the U.S.
   • Tuesday: ISM manufacturing, PMI manufacturing, construction spending (Source: PMI link).
   • Wednesday: U.S. trade deficit, job openings, factory orders, auto sales (Source: Bureau of Economic Analysis).
   • Thursday: ADP employment, initial jobless claims, PMI services, ISM services.
   • Friday: Employment report, employment rate, hourly wages, NY Fed President Williams & Fed Gov. Waller speeches.

3. Central Banks Buying Gold:

   • Net central bank gold purchases doubled in July (37t) (Source: gold.org link).
   • Macro implications: Economic collapse or Kamala Krash 2.0?
   • Bank of Japan Governor Kazuo Ueda’s signal on interest rate hikes.
   • Impact on Bitcoin/Cryptocurrency:

4. Upcoming Events:

   • Sep 18th - FOMC meeting: Potential pre-and post-meeting crypto market activities.

5. Ethereum Market Overview:

   • Market cap below $300M (compared to $480M in March).
   • Gas fee reduction not aiding Ethereum.
   • Impact of EIP 1559 and less ETH being burned.
   • CBDC and burning mechanism: Could reduce inflation via public address burn.

6. Ethereum ETF Challenges:

   • Bad first month with $476 million outflows.
   • Drop in on-chain activity for Ethereum, Solana, and Bitcoin (via Coinmetrics).

7. Low Stablecoin Volume:

   • Reduced trading volume lessens chances for a pump in crypto over the weekend.

8. Bitcoin Mining’s New ATH:

   • Bitcoin mining reaches 742 exahashes per second, indicating strong security.
   • Industry challenges: Bitfarms vs. Riotplatform drama and unsustainable growth.

9. DeFi Struggles:

   • DeFi is “dead” with DEX to CEX trading percentages below 20%.

10. Additional Updates:

• Markose: Oort Townhall recap.
• George/Blockchain DXB: Insights on the Porter’s Force Model applied to Bitcoin & Crypto (covering bargaining powers, threats, and competitive rivalry).