Abra Founder Bill Barhydt shares insights on ICOs (the good, bad & ugly), bitcoin’s euphoric rollercoaster, liquidity, mining, the IRS & crypto’s immutable fate to transform the world

This Week In Startups

E809: Abra Founder Bill Barhydt built the 1st global wallet to buy, store & invest 20 crypto- & 50 fiat currencies. In this episode, he shares insights on ICOs (the good, bad & ugly), bitcoin’s euphoric rollercoaster, liquidity, mining, the IRS & crypto’s immutable fate to transform the world.

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Timestamps:

2:22 Jason explains how he first met today’s guest, Bill Barhydt, Founder & CEO of Abra. Bill shares the fundamental vision behind Abra.

4:13 Jason asks Bill if his original idea for Abra is still in play, and how much his investment (from 3yrs ago) is worth now. Bill explains what worked & didn’t work.

5:43 What does the term digital gold mean?

6:32 Bill explains how Abra is using bitcoin as programmable money to create global financial inclusion.

10:45 Thanks to Walker Corporate Law for supporting the show. Call (415) 979-9998 to talk with Scott Walker directly, or visit http://walkercorporatelaw.com for more information about getting legal work done for your startup.

13:33 Bill explains his view on the current state of ICOs. (the good, the bad, the ugly). And why many ICOs are forbidding U.S. investors.

17:24 Bill & Jason explain the fundamental difference between ICO investors and Angel Investors.

18:42 Jason challenges Bill to list the companies (crypto projects) that have a product being used in the market, and how tokens are being used within those products.

23:18 Is the trading volume for cryptocurrencies inaccurate/fake? Bill explains the manipulation that occurred in China, and how it caused massive trade volume.

24:50 Jason & Bill talk about why bitcoin skyrocketed to over $19,000 within a short period.

27:57 Thanks to Asana for supporting this podcast. Visit http://asana.com/twist to try it out for free!

34:03 Will bitcoin become the ultimate winner in cryptocurrency? Jason believes that bitcoin will go to zero, and Bill explains why he thinks it will continue to be “digital gold.”

35:22 Why hasn’t anyone been able to hack bitcoin? Bill explains the complexity of which bitcoin was created with, which makes it 100% immutable.

37:28 Bill explains what Litecoin is, why Abra uses it in their smart contracts, and how Abra makes money.

40:34 Can the entire crypto ecosystem be ruined if something happened to Coinbase? Bill explains why this theory is false.

43:01 Where is crypto world headed? Bill explains what he wants to see, and what the market cap for cryptocurrency will be in 10 years.

50:25 How anonymous is cryptocurrency today? Bill explains the varying degrees anonymity associated with different cryptocurrencies.

53:27 Is the U.S being too conservative with cryptocurrency?

58:19 Bill explains why the IRS is not equipped to crack down on taxing all cryptocurrency gains.

1:01:03 Bill explains why he’s setting up a non-profit arm of Abra in Switzerland.

1:03:07 Will Abra do an ICO? Bill explains why he’s not interested.

1:06:02 Jason reveals his big plan for launching “J-coin”

1:08:04 Jason and Bill discuss the $1.7b Telegram ICO. Bill shares that Telegram will only need $50-$100m to follow through with their whitepaper. What will they do with the remaining $1.6b???

1:11:32 Jason ask Bill to come to http://launchfestivalsydney.com in June and present a keynote on Crypto. Bill accepts! (P.S.: we have 100 free tickets left for founders)

1:12:19 Bill explains why his career jump from Goldman Sachs to Netscape was one of his best career decisions.