After successfully founding several businesses of which comparison website Finder.com is probably the most well-known, Fred Schebesta immersed himself in cryptocurrencies to see what all the fuss was about. He realised that the crypto space had many similarities to the early days of ecommerce and now runs a crypto exchange called HiveEx and is planning to launch an Australian crypto bank.
Overview of podcast
1:30 Are cryptocurrency a store of value or an investment?
3:41 Cryptocurrencies are not correlated to anything
5:10 How do you determine the value of a cryptocurrency?
5:30 You have to look at the tech as well
6:00 Equities are just as much removed from their intrinsic values
8:00 How great is the danger that many of these cryptocurrencies become obsolete?
10:30 The RBA says we already have digital money. Why do we need cryptocurrencies?
11:35 A bank run is not possible with cryptocurrencies, because you own your own money
15:00 You look at technology that is 9 years’ old and you expect it to do what a bank has done for hundreds of years. That is short-sighted.
18:43 You have Ethereum miners in your office. Why?
20:00 Do Millennials understand cryptocurrencies better?
23:00 People that have made money with cryptocurrencies, to what degree were they just lucky?
23:50 Bitcoin is illogical.
24:00 Smart contracts will put pressure on law firms.
28:00 Is the move away from cash the logical extension of cryptocurrencies?
31:30 You are launching an Australian crypto bank?
35:00 People think this is the great bubble in crypto, but there have been six bubbles already.