2019 SALT Conference: Lubin, Novogratz, Roubini Talk Crypto Winter

Notes from Joseph Lubin, Michael Novogratz and Dr. Nouriel Roubini from their presentation at the 2019 SALT Conference called “Crypto Winter: Ice Age Or Great Thaw?”

Crypto Winter: Ice Age Or Great Thaw?

Joseph Lubin – Co-Founder, Ethereum

Michael Novogratz – Founder & Chief Executive Officer, Galaxy Digital

Dr. Nouriel Roubini – Professor of Economics, Stern School of Business, New York University

Rana Yared – Managing Director, Goldman Sachs

Get The Full Seth Klarman Series in PDF

Get the entire 10-part series on Seth Klarman in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

Q1 hedge fund letters, conference, scoops etc

• Crypto as a store of value and method of payment- work well in places like Syria, where a fiat currency doesn’t exist or hyperinflation, Venezuela
• bitcoin is worth over $120bb, bitcoin has won as a store of value
  • It is necessarily the technology, there is some magic there
  • Such as Egyptians thinking gold came from God
  • We need to find a more fungible currency that gets the same physiological
• Nouriel- Crypto, the mother of all scams and bubbles
• 81% of all coins created were a scam: “shitcoins”
• They are not currencies, they do not store value or able to use it to make purchase at most 7% of transactions with crypto
• Joseph- Cryptocurrency is not the brake through, it is the trust foundations
  • We have built systems on centralized trust systems
  • Crypto was one of the first proofs of concept
  • The breakers of the technology and the asymmetry of information allowed for hackers to get in there
  • The SEC and other regulators are not regulating this much closer
  • A build out of the infrastructure is necessary
  • Ether can handle 50-75 transactions per second; Ether is a crypto fuel not currency; It is powering an industrial use case underneath it.
• Distributed ledgers:
  • Can share and trust information, particularly in medical and securities trading
  • Most is based on public key technology, but private key technology can help with that.
• Very heated debate overall.
  

This article first appeared on ValueWalk Premium

The post 2019 SALT Conference: Lubin, Novogratz, Roubini Talk Crypto Winter appeared first on ValueWalk.