BTC056: BITCOIN FEAR, UNCERTAINTY, & DOUBT (FUD)

W/ DAN HELD

14 December 2021

Dan Held and Preston Pysh have a conversation around the most common Fear, Uncertainty, and Doubt (FUD) in the Bitcoin community. This episode is a good one to share with family members that are new to Bitcoin.

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IN THIS EPISODE, YOU’LL LEARN:

  • Does Bitcoin have any intrinsic value?
  • Bitcoin looks and feels like a bubble.
  • Bitcoin is too volatile.
  • Bitcoin uses too much energy consumption.
  • Governments can kill Bitcoin.
  • Bitcoin is manipulated.
  • Regulation in the coming year.
  • Alt Coins are everywhere, why does Bitcoin win.
  • What is the lightning network?

TRANSCRIPT

Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.

Preston Pysh (00:03):

Hey, everyone. Welcome to this Wednesday’s release of the podcast where we’re talking about Bitcoin. On today’s show, I have back, by popular demand, Mr. Dan Held. Dan is an early Bitcoin investor, tech entrepreneur, and content creator that has an awesome way of making complex ideas easy to understand. On this episode, we have a holiday special for all your relatives, where we cover the most common Bitcoin fears, uncertainties, and doubts, and offer a thoughtful response to the questions we know everybody’s going to be having this time of the year. Without further delay, here’s my chat with Mr. Dan Held.

Intro (00:40):

You’re listening to Bitcoin Fundamentals by The Investor’s Podcast Network. Now, for your host, Preston Pysh.

Preston Pysh (00:59):

Hey, everyone. Welcome to the show I’m here, like I said in the intro, with Dan Held. Dan, welcome back to the show.

Dan Held (01:04):

Thanks for having me Preston.

Preston Pysh (01:06):

Dan, if your Thanksgiving was anything like my Thanksgiving, we’re around the table, there’s family, friends there. Everybody’s talking about various things, and of course, what comes up? Bitcoin comes up, and of course, aunt Sally, uncle Joe, everybody’s got their opinion as to what this is, what this isn’t, then you start hearing some of these arguments. Now, some of the things that we’re going to cover on this show are things that I’ve covered on the show in the past. I wanted to sit down with somebody that can explain it very simply and in a way that anybody can get it and we can get into the complexity, but let’s start with some of these FUD, the fear, uncertainty, doubt, arguments that you hear from the family members or people that hear about Bitcoin in passing, and let’s just go by the numbers on some of these.

Dan Held (01:52):

One, I want to say, even in the Held household, we still have Thanksgiving debates about Bitcoin. Even though my parents have been orange playing them over nine years, they still have questions. Just to let you know, if you’re feeling a little frustrated with the parents, feeling a little frustrated with the extended family, you’re not alone. Join the club. Yeah. There’s also those, I remember the first time I brought up Bitcoin, it was November, 2012. I think my dad was worried I was selling drugs. At that time, Bitcoin’s only association was with Silk Road and money launder and drug dealing, and he’s a CPA, so he was super worried.

Dan Held (02:27):

He was like, “Oh man, are you like selling drugs online?” It’s gotten a lot better since then. There’s a lot more clarity and they’re orange filled. But yeah, you’ve just come back from Thanksgiving. I’m sure there was some frustrating conversations. I’m sure there was a lot of exciting ones. I’m really excited today to dive in with Preston here, because these are, I think some with FUD, I hear these all the time, friends, coworkers, family, even lovers back over the years, they all had questions about Bitcoin, so I’ve kind of heard all these before, and going into Christmas, you’re going to get a lot more.

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