Podcast Summary
The podcast episode from “The Chopping Block” features a year-end review for 2023, discussing various categories such as biggest winner, biggest loser, biggest surprise, and others. The hosts also share their predictions for 2024 in the crypto space, touching on topics like the approval of a Bitcoin ETF in the United States, a credible proposal for a U.S. Central Bank Digital Currency (CBDC), and a decline in the total market cap of stablecoins.
Key Takeaways
Biggest Winners and Losers of 2023
- Biggest Winners: The hosts named the broad rebound in asset prices across the crypto ecosystem, the Solana ecosystem, Tether, and Brad Garlinghouse, as the biggest winners of 2023.
- Biggest Losers: The SEC, author Michael Lewis for his book “no correction needed,” and the American public due to the lack of progress on crypto legislation in the US were nominated as the biggest losers of the year.
Surprises and Mechanisms of the Year
- Biggest Surprises: The hosts were surprised by the outperformance of Ponzi multisig bridges over layer twos, the rise of point systems in crypto, and the role of crypto in unbanking banks.
- Best Mechanisms: Points and the royalty creator mechanism within no correction needed were praised as the best mechanisms of the year.
2024 Predictions
- Bitcoin ETF Approval: One host predicts the approval of a Bitcoin ETF in the United States in 2024.
- U.S. CBDC Proposal: A credible proposal outlining what a U.S. Central Bank Digital Currency (CBDC) might look like is also anticipated.
- Decline in Stablecoin Market Cap: A decline in the total market cap of stablecoins is predicted as assets shift back into more volatile crypto assets and other forms of low-risk investments.
Best and Worst Pivots of the Year
- Best Pivots: Pudgy Penguins and MicroStrategy’s pivot to a leveraged Bitcoin trade were praised as the best pivots of the year.
- Worst Pivots: The SEC’s social media team was criticized for their attempts to promote Gary Gensler as a consumer protector in the crypto space.
Biggest Flops and Comebacks of the Year
- Biggest Flops: The various ApeCoin coin proposals, Binance’s settlement with the U.S. government, the Saga phone, and the Zuki Elementals NFT project were nominated as the biggest flops of the year.
- Comeback of the Year: Coinbase and Kyle Samani were mentioned as significant comeback stories of the year.
Sentiment Analysis
- Bullish: The hosts expressed a bullish sentiment towards the crypto space, highlighting the broad rebound in asset prices, the resilience of the Solana ecosystem, and the growth of Tether. They also praised the successful pivots of Pudgy Penguins and MicroStrategy and acknowledged the comeback stories of Coinbase and Kyle Samani.
- Bearish: A bearish sentiment was expressed towards the SEC, author Michael Lewis for his book “no correction needed,” and the American public due to the lack of progress on crypto legislation in the US. The hosts also criticized the SEC’s social media team and mentioned the various ApeCoin coin proposals, Binance’s settlement with the U.S. government, the Saga phone, and the Zuki Elementals NFT project as the biggest flops of the year.
- Neutral: The hosts maintained a neutral sentiment when discussing their predictions for 2024, including the approval of a Bitcoin ETF in the United States, a credible proposal for a U.S. Central Bank Digital Currency (CBDC), and a decline in the total market cap of stablecoins.
