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Robert is joined by Justin Ridgely to unpack the contentious field of Cryptocurrency. An illusive topic to many, Robert and Justin flesh out why cryptocurrency is simultaneously such an important evolutionary milestone in the modern world, while also posing deep concerns for how this particular phenomenon will impact people, culture, and the world.\nDisclaimer: Nothing in this (or any) episode is financial advice. #nfa\n\nSome of the topics we explore include:\n- The principles and fundamental value-proposition of cryptocurrency\n- \u201dSound money\u201d vs. state-backed fiat currency\n- The drawbacks of "being your own bank" and other noteworthy concerns\n- Crypto-mining and the environment (not an open and shut case)\n\nShow Notes:\n1:40 - Introducing Justin Ridgely\n4:08 - Big pros of cryptocurrency\n7:20 - At its core is the value of freedom\n7:38 - \u201cSound money\u201d as the opposite of state-backed currency\n9:11 - Departure from the gold standard\n11:16 - Implications of cryptocurrency being sound money\n14:50 - Different categories of cryptocurrency\n19:13 - Conversation around CBDCs\n21:07 - The success of stable-coins\n24:49 - Pros and cons of an evolving and growing infrastructure\n26:18 - Crypto-banks, i.e. BlockFi\n31:14 - This is not financial advice\n32:00 - Ethereum and smart contracts\n38:18 - Decentralized finance\n48:00 - The cons of cryptocurrency\n50:00 - The drawbacks of being your own bank\n56:07 - Crypto mining and the environment\n56:27 - Proof-of-work consensus\n58:28 - Forcing the industry to look at using energy in a clean way\n58:40 - Does this have enough utility to justify the environmental impact?\n1:00:46 - There are more \u201cdisasters\u201d...\n1:01:00 - Scalability\n1:04:49 - We are still in the early-adoption phase\n1:07:44 - Common criticism of Ethereum: might be too expensive\n1:08:30 - Scams\n1:09:29 - Scams are separate from criminal activity, like ransomware\n1:11:19 - And then there are scams, like \u201cpump and dump\u201d schemes\n1:15:14 - Sometimes it\u2019s not a conscious scheme, but then reality happens\n1:17:43 - Regulation\n1:19:19 - Anyone can have access to risky investments\n1:20:00 - What\u2019s the balance between protection and freedom?\n1:21:27 - With radical freedom comes radical exposure\n1:22:59 - Hopefully this will play out in a way that promotes compromise and collaboration\n1:26:12 - Decentralized Autonomous Organizations (DAOs), from "Smart Money" to "Smart Companies"\n1:28:50 - Do your own research (DYOR)\nJustin Ridgely is currently Head of Finance and Operations at the Syndicate Project, and was recently Director of Operational Finance at BlockFi. Previously he was Director of Finance at Fundera, a fintech startup acquired by Nerdwallet. \xa0Earlier in his career, Justin led his own startup, was an investment banker, and also served in the Army as an Infantry Officer. He holds a BA from Emory University and an MBA from the University of Virginia.