Industry Products and Mining Challenges w/ C.J. Wilson & Josh Olszewicz

Bitcoin Bottom Line

In this week’s episode of Bitcoin Bottom Line, hosts C.J. Wilson and Josh Olszewicz begin by discussing the recent arrest of the founder of the Russian exchange, Bitzlato. Recent reports suggest Bitzlato had ties with a Russian darknet market Hydra, and the company only ever had $11,000 in their wallets. Wilson and Olszewicz go on to discuss the skepticism from users in the crypto space and how things might not be what they seem. Wilson uses a racing metaphor, “yellows breed yellows. Meaning that cautions bring more cautions. Bitcoin Twitter is so conditioned to be skeptical of everyone big that the second there is an announcement, they assume that it will be bad. It seems like whoever can hang on the longest will reap the rewards of being the provider of last resort.”

Wilson and Olszewicz talk about how the volatility of Bitcoin is relatively low despite the mess of GBTC. Olszewicz states, “price wise, we have erased the entirety of the post-FTX collapse in November. The price is back to where it was.” Wilson discusses, “there are a certain number of people that are back in profit on their net holdings. If we are above $21,000, we are still above the 2017 cycle. This goes back to, if you have held it long enough, you are good.”

Wilson and Olszewicz discuss mining Bitcoin and how you must be strategic. Wilson reminds listeners that Bitcoin mining requires a complex strategy. Mined Bitcoin is not as easy to hold as one might assume. It may take about four to five years to find out if you have deployed a good strategy or not. Wilson continues, “it is a wild world out there. Bitcoin is a great way to determine what direction you are heading.” Olszewicz wraps up the episode by stating the importance of keeping an open mind and being willing to learn.

Listen to the full episode for more!

Follow CJ and Josh Here

https://twitter.com/str8edgeracer

https://twitter.com/CarpeNoctom

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