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The CoinMarketRecap podcast is published every Friday and brings you all of the week’s crypto stories in an accessible way, along with in-depth interviews with the top-breaking news and fun discussions of emerging trends.
Hosted by Connor Sephton, they were now available in all places you get your podcasts, including Apple Podcasts, Spotify, and Google Podcasts.
It’s been a busy week for the news. Bitcoin is on the verge of its worst weekly close in two months, ransomware group REvil has apparently vanished from the dark web without a trace, and Damien Hirst has released an NFT collection with a cruel dilemma.
Here is what we discussed with our guests.
Explosion of anger from the creators of Dogecoin
CoinMarketCaps’ very own Molly-Jane Zuckerman joined us to discuss the stories that caught her attention this week.
One of them was the brutal Twitter thread written by Jackson Palmer, who created DOGE as a joke alongside a fellow software engineer.
This week, Palmer described the crypto industry as right-wing, bad, centralized, and shady combining the worst parts of today’s capitalist society without any regulation. Molly-Jane explained:
I think what Jackson Palmer said clearly echoed what a lot of people thought. I’ve seen it in threads on my Telegram groups, among my friends on Twitter, that people are basically saying Jackson Palmer highlights some of the biggest issues in the industry, but I don’t agree with everything. what he says.
Molly-Jane also said that we need to move away from the fact that crypto is for everyone and that investors should only invest what they’re willing to lose: I think the majority of people, you know, don’t. may not be ready to invest in Bitcoin.
In addition to discussing the SEC, Molly-Jane dissected rumors that Apple bought $ 2.5 billion worth of Bitcoin, which has not been confirmed:
I wanted to tell all of our listeners that you can’t believe everything you see on Crypto Twitter. It is a dangerous place where I have already been deceived. The dangers of crypto addiction
Tony Marini is a Senior Specialist Therapist at Castle Craig Hospital in Scotland, one of the few clinics that has specifically started treating cryptocurrency addiction.
He told the CoinMarketRecap podcast that while endless coverage is given to people who make money from crypto, insufficient attention is given to those who suffer losses.
The advisor explained that the warning signs include people who start trading cryptocurrencies more frequently and become irritable, restless and withdrawn when away from their screens.
It also drew parallels with gambling addiction, with a number of studies in the United States finding a connection between the two as well. Tony said:
I can see the similarities in all of this. We retreat, we isolate, we start chasing losses. You might not get all of this, but if you feel the shame, the guilt, the hiding, you really, honestly ask yourself, is it affecting my life?
Tony explained that crypto addiction can affect people of all ages and bank balances, and it can lead to other addictions as well. He added:
It’s on your smartphone, it’s in your bedroom, it’s in your living room, it’s at work, it’s in your car. It’s everywhere. We are finding that a lot more people are trying to stand longer and longer and watch the prices go up and down. So they turn to alcohol and maybe amphetamines to stay up longer.
The therapist urged people to seek help if they feel they have a problem with their crypto trading habits and stressed that they are not alone.
More information on cryptocurrency addiction can be found on the Castle Craig Hospital website.
Book vacations with Crypto
We also spoke to Travala.com Co-Founder and CEO Juan Otero about the pros and cons of booking vacations using cryptocurrency.
Juan explained that services like Travala allow people to use their crypto to buy something tangible, without having to convert it to fiat.
During the interview, we asked if Bitcoin volatility makes using crypto to buy a hotel room or plane ticket less attractive. After all, a $ 2,000 vacation paid in Bitcoin in September 2020 would effectively cost $ 13,000 in cash six months later. He has answered:
It can also go the other way, a vacation of $ 2,000 could now be worth $ 500. Clearly, the markets are volatile both ways, up and down. I think it’s more about enticing people to transact with crypto.
Otero also revealed that 70% of payments made on its platform are now made using cryptocurrencies, mostly native Bitcoin, Ether, and Travalas tokens.
As COVID continues to weigh heavily on travelers around the world, Otero said current booking trends indicate that most consumers are opting for travel within their own country, rather than going abroad. Juan added:
As we come out of this pandemic we expect growth to accelerate dramatically as international travel opens up, I firmly believe this was going to see the biggest rebound in travel demand in history. . The only thing everyone will do once the borders fully open and this pandemic is under control is travel. New CoinMarketRecap episodes are released every Friday subscribe to Apple Podcasts and Spotify!
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