Bonus Episode: The FTX Collapse Reminds Us Bitcoin is Not Crypto

If you've read the news lately or even quickly skimmed the headlines, you've seen the madness concerning FTX and the growing skepticism of the crypto industry at large.

The collapse of FTX and other firms this year bolstered by concerns of crypto mining strain on the world's resources, there have been many misunderstandings, it seems. Especially as it relates to Bitcoin.

Recently, you may have heard CEO John Belizaire say, "Bitcoin is not crypto," and he is not alone in this thought. Many thought leaders and Bitcoiners have taken to Twitter and op-eds to expand on this:

Bitcoin is not crypto. (At least not the version of Crypto FTX was built on.)

"And what does that mean?" You're probably thinking.

In this episode, John Belizaire is joined today by colleagues, Dip Patel, CTO of Soluna, and Phillip Ng, Vice President of Corporate Development at Soluna.

They discuss what's going on in the market, and try to clarify a few things to help you, our listeners, understand how and why Bitcoin is not crypto.

Notable Moments: 

[02:15] First things first, what the heck happened? We woke up one day and there were suspicious Twitter threads, drama, and finally a collapse. How would you explain the FTX situation to a novice?

[12:00] What’s the next market going to look like? What should people expect? And what do you say to them that should be learned here?

[24:50] Briefly, can you explain why Bitcoin is so energy intensive?

[28:10] What’s your pitch to renewable energy developers, and power plant owners? How do you position building a bitcoin data center co-located with their facilities and how it addresses their issues?

[31:20] What prediction for the coming year would you like to see, would you love to see, I would say? And it could be anything, but what would you like to see, particularly around this whole crypto space and Bitcoin space?

To read the transcript of this episode, visit: https://www.solunacomputing.com/podcast/ftx-recap/