Podcast Summary: The Wolf Of All Streets Episode Title: Can You REALLY Hack Bitcoin… And Win 1 BTC ($84,000)? Release Date: April 17, 2025 Host: Scott Melker Guests: Iago and Dan from Chart

Introduction

In this episode of The Wolf Of All Streets, host Scott Melker delves deep into the intricate world of Bitcoin, quantum computing, and the evolving dynamics between digital and traditional assets. Joined by experts Iago and Dan from Chart, the discussion navigates through the potential vulnerabilities of Bitcoin, its comparison to gold, and the broader macroeconomic factors influencing the cryptocurrency market.

Quantum Computing: A Threat to Bitcoin?

[00:01]
Scott Melker opens the conversation with a provocative question: "Can bitcoin really be hacked using quantum computing? And is trying worth one bitcoin?" This sets the stage for an in-depth exploration of quantum computing's implications on Bitcoin's security.

Potential Risks of Quantum Computing
Iago elaborates on the advancements in quantum computing, highlighting its capability to break current cryptographic systems. He explains, "If you could get it to a few hundred, then you can crack basically all of cryptography and with it you could crack Bitcoin" ([02:04]). This underscores the existential threat quantum computing poses to Bitcoin's foundational security.

Quantum-Secure Cryptography and Bitcoin's Future
The discussion shifts to possible solutions, such as integrating quantum-secure cryptography into Bitcoin through a hard fork. Iago raises concerns about the practicality and implications of such a move, especially regarding the vast amounts of Bitcoin in inactive addresses. He muses, "There's no one knows if this is going to happen anytime soon, but there is potential risk if quantum became real, it would be a real problem for Bitcoin." ([04:11]).

Real-World Implications and Urgency
Scott emphasizes the broader impact, noting that a successful quantum attack wouldn't just threaten Bitcoin but also "the nuclear codes and the banking system and effectively anything else that's cryptographical protected anywhere on the Internet." ([03:59]). Iago acknowledges the current limitations of quantum computing but warns of its inevitable progress, stating, "There's a lot of eyes on it, and we are living in a more and more sci fi world." ([07:22]).

Future Prospects and Timeline
When asked about the timeline for quantum threats, Iago remains cautiously optimistic, suggesting it's "nothing to panic about" in the near term but acknowledging it as a "long term" issue ([09:25]). He compares the promise of quantum computing to perennial sci-fi breakthroughs like fusion, often perpetually "10 years away."

Bitcoin vs. Gold: The Emerging Reserve Asset

Current Market Dynamics
Shifting focus, Scott introduces the debate between Bitcoin and gold as safe-haven assets. He references JP Morgan's observation that "bitcoin has failed to benefit from safe haven flows back in gold" ([12:33]), highlighting the recent outflows from Bitcoin ETFs to gold ETFs.

Iago's Perspective: Bitcoin as an Emerging Reserve Asset
Iago counters by positioning Bitcoin as an "emerging reserve asset," distinct from gold. He points out Bitcoin's advantages in the digital age and its growing appeal among younger generations who are more digitally native. "Bitcoin continues to be an emerging reserve asset rather than the current reserve asset," he states ([16:46]).

Generational Shift and Adoption Trends
The conversation touches on the generational transition from gold to Bitcoin. Iago notes, "People younger than us have basically grown up like my kids, growing up in a world where it's going to be the most natural." ([17:54]). This generational shift is seen as a driving force behind Bitcoin's continued appreciation and its potential to surpass gold in the long run.

Dan's Technical Analysis on Bitcoin vs. Gold
Dan contributes by analyzing the inverse relationship between Bitcoin and gold over the past three years. He observes patterns where Bitcoin breaks out following gold's consolidation and vice versa. "There's a very clear, pretty substantial inverse relationship over the last three years between gold and bitcoin." ([27:15]). He remains optimistic about Bitcoin's trajectory, anticipating a move towards $95,000 or $100,000 once gold stabilizes ([27:28]).

Macro Factors Influencing the Cryptocurrency Market

Jerome Powell and Central Bank Policies
The discussion shifts to macroeconomic policies, particularly statements from Jerome Powell, Chairman of the Federal Reserve. Scott mentions Powell's stance against imminent rate cuts, which has led to market volatility. "He's being really stubborn. He basically says that tariffs are going to be inflationary, that he can't cut anytime soon." ([19:50]).

Liquidity vs. Interest Rates
Iago delves into the complexities of current monetary policies, highlighting the U.S. government's massive debt burden. He explains the "double bind" where both increasing and decreasing rates can inadvertently boost liquidity due to the nature of government debt obligations ([22:50]). This scenario is leading to unconventional measures like yield curve control, where central banks accept higher inflation rates to manage borrowing costs.

Future Outlook: Inflation and Monetary Policy
Iago predicts a shift from the long-held 2% inflation target to higher rates, signifying a permanent change in monetary policy. "There's nothing holding it up. Capitulation means that we'll go from standardized 2% inflation to 3%." ([22:50]). This anticipated shift will have profound implications for global markets and investor strategies.

Cryptocurrency Ecosystem Updates and Altcoin Performance

Aptos Ecosystem Growth
Scott transitions to updates on the broader cryptocurrency ecosystem, spotlighting Aptos as the fastest-growing platform. He highlights the rapid development and partnerships within the Aptos network, praising its user experience and scalability. "They finally solved this. King Graham I use it uxai. Really, really simple, extremely fast, extremely cheap." ([23:29]).

Altcoin Performance Analysis
Dan provides insights into specific altcoins like CRV and TRX, noting their relative strength despite broader market downturns. He discusses patterns such as bull flags and rising wedges, indicating potential movements and opportunities within the altcoin space. "CRV has been an altcoin that's been giving us some relative strength." ([32:00]).

Market Sentiment and Future Predictions

Bitcoin's Resilience Amid Market Turbulence
Despite macroeconomic uncertainties and regulatory challenges, Bitcoin remains steadfast. Dan notes Bitcoin's relative strength compared to traditional assets like the NASDAQ, attributing this resilience to its emerging status as a reserve asset.

Investment Strategies and Diversification
Both guests advocate for diversification, combining Bitcoin with traditional assets like gold to hedge against various risks. Dan shares his personal strategy of holding both assets long-term, emphasizing the importance of maintaining exposure to Bitcoin despite potential threats. "I've got some gold, I've got some bitcoin. I won't sell either of those positions for a very long time, decades plus." ([28:38]).

Upcoming Developments and Webinars
The episode concludes with mentions of upcoming webinars and platform updates, encouraging listeners to stay engaged with the latest developments in the crypto space.

Conclusion

This episode of The Wolf Of All Streets offers a comprehensive look into the challenges and opportunities facing Bitcoin and the broader cryptocurrency market. From the existential threat of quantum computing to the evolving role of Bitcoin as an emerging reserve asset, Scott Melker and his guests provide valuable insights and nuanced perspectives. As the financial landscape continues to shift, the discussions underscore the importance of adaptability, diversification, and forward-thinking strategies in navigating the complex world of digital assets.

Notable Quotes:

• "If you could get it to a few hundred, then you can crack basically all of cryptography and with it you could crack Bitcoin." — Iago ([02:04])
• "Bitcoin continues to be an emerging reserve asset rather than the current reserve asset." — Iago ([16:46])
• "There's nothing holding it up. Capitulation means that we'll go from standardized 2% inflation to 3%." — Iago ([22:50])
• "CRV has been an altcoin that's been giving us some relative strength." — Dan ([32:00])

Follow the Hosts and Guests:

• Scott Melker (@TheWolfOfAllStreets): Twitter
• Iago (@IagoTrading): Twitter
• Dan (@ChartDan): Twitter
• Bitcoin OS: Stay tuned for upcoming launches and updates.

For more insights and detailed analyses, tune into the full episode and follow the hosts on their respective platforms.