Flippening - For Cryptocurrency Investors (Bitcoin, Ethereum, and Cryptoasset Investing)

By Clay Collins - Co-founder of Nomics and Crypto Investor

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Flippening is for cryptocurrency investors. Each week we discuss the cryptocurrency economy, new investment strategies for maximizing returns, and stories from the front lines of financial disruption. Flippening is for a new class of investors that were not part of the financial services world before bitcoin, but got into the finance because of their passion for cryptoassets, blockchain, altcoins, and distributed ledger technology.

Episode Date
The Economics of Cryptoasset Markets w/ Professor Stephen McKeon (Ep. 0019)

My guest today is Stephen Mckeon, who is an economist and Professor of Finance at the University of Oregon's Lundquist School of Business. 

I had the privilege of interviewing Stephen for our upcoming three-part audio documentary on tokenized and asset-backed securities, as well as meeting him in person in New York a few weeks ago. 

This episode is a hyperfocused exploration of the economic forces affecting cryptoasset markets.

Jun 07, 2018
Bootstrapping A Crypto Nation State From Scratch, w/ Eric Meltzer of INBlockchain (Ep. 0018)

Today's episode is part 2 of my conversation with Eric Meltzer.

Our previous episode with Eric has gone on to become one of our most popular episodes to date and this is a second chance to hear from him.

This episode stands on its own and includes a very compelling step by step strategy for bootstrapping a crypto nation-state.

For some background, Eric is a partner at INBlockchain, China’s oldest and largest institutional crypto asset and blockchain fund with several billion under management, and he’s recently opened their US office in Boston.

Please enjoy part 2 of my conversation with Eric Meltzer of INBlockchain.

May 26, 2018
Understanding China's Largest Blockchain Fund w/ Eric Meltzer of INBlockchain, Part 1 (Ep. 0017)

My guest today is Eric Meltzer, and this is part one of my conversation with him.

Eric is a partner at INBlockchain, China’s oldest and largest institutional crypto asset and blockchain fund.

To give you a sense of INBlockchain’s size and scope, consider that they recently announced a $1.6 Billion dollar fund with 30% coming from the Hangzhou government.

When people talk about institutional investing, these are the kinds of numbers they’re referring to. It’s a fascinating interview.

May 17, 2018
Part 2: Ateet Ahluwalia of CoVenture Crypto (Ep. 0016)

This is part 2 of my conversation with Ateet Ahluwalia.

I really enjoyed the content from part 1 and I wanted to give you a second chance to hear from Ateet and tease the first episode.

If you didn’t catch our previous episode, here’s some background: Ateet is Managing Director at CoVenture Crypto, and in a past life, he was a Macro Credit Trader at Barclays, a Macro Portfolio Manager at Bluecrest Capital, and a Credit Index Trader at Goldman Sachs.

In part 1 of this two-part interview, we discussed quantitative crypto investing, the values of quantitative trading, why whatever idea you have must be quantified, and how Ateet's investment research during the Cyprus bailout led him to Bitcoin.

In this, part 2 of our conversation, we play a fun lightning round game of over-rated / under-rated, discuss the impact that regulation is likely to have on the space, and take stock of the real impact that our community is having on the world.

May 17, 2018
Quantitative Crypto Investing w/ Ateet Ahluwalia of CoVenture Crypto, Part 1 (Ep. 0015)

My guest today is Ateet Ahluwalia, and this is part one of my conversation with him.

Ateet is a Managing Director at CoVenture Crypto.

Prior to CoVenture, Ateet was a Macro Credit Trader at Barclays, a Macro Portfolio Manager at BlueCrest Capital, and a Credit Index Trader at Goldman Sachs. Ateet is a trader’s trader and a quantitative investor through and through. He’s also one of the most disciplined thinkers in our space.

I should note the one singular theme driving through this entire conversation is encapsulated by the phrase Ateet repeats over and over again, quote: “it’s all just a number on the screen”

Ateet’s entry into the space is indicative of an industry that’s evolving past offering basic exposure to investors to an industry offering investors the ability to allocate capital behind particular pureplay strategies.

May 03, 2018
Ari Nazir of Neural Capital On What's Overrated & Underrated in Crypto, Part 2 (Ep. 0014)

This is part 2 of my conversation with Ari Nazir. I was so happy with the content in part 1, that I decided to create this second episode from my conversation with Ari.

If you didn’t catch our previous episode, here’s some background: Ari is a founder and managing partner at Neural Capital, an advisor at Protocol Ventures, and Chief Investment Officer at Apex Token Fund.

He’s also outperformed almost every Crypto hedge around with a regulated, San Francisco based fund.

In part 1 of this interview we discussed, among other things, sentiment and momentum investing, some of Ari’s other favorite indicators, and Ari’s strategy of shorting everything pitched on CNBC fast money. If you haven’t listened to that episode, I’d go and do that now.

In this, part 2 of our conversation, we play a lightning round game of over over-rated / under-rated.

I hope you enjoy the conclusion of my conversation with Ari Nazir.

Apr 24, 2018
Sentiment & Momentum Investing w/ Ari Nazir of Neural Capital, Part 1 (Ep. 0013)

My guest today is Ari Nazir and this is one of our top 3 episodes to date.

Ari is a founder and managing partner at Neural Capital. I met Ari in part because I’m a limited partner in Protocol Ventures, which we covered in a previous episode. Protocol Ventures is a Fund of Funds with a portfolio that includes prominent crypto asset hedge funds like BlockTower Capital, Metastable, PolyChain, and Ari’s Neural Capital. 

As an LP of protocol ventures, I get to see how these funds are performing; these reports made it clear to me that I needed to have Ari on the show.

Ari is without a doubt one of the top minds in crypto investing, and I think you’ll find this episode to be as funny as it is informative.

Apr 18, 2018
Masternode Businesses & Going Public w/ Troy Wong of Neptune Dash (Ep. 0012)

My guest today is Troy Wong, CFO and Co-Founder of Neptune DASH, which he took public in January 2018 in Canada on the TSX Venture Exchange.

Neptune DASH is the first Dash masternode company; it currently runs 18 masternodes, each of which generates about 6.8 DASH per month. 

Neptune DASH’s business reminds us of proof-of-stake and proof-of-work mining businesses, with some characteristics of direct exposure investment vehicles like the Bitcoin investment trust, but there’s nothing else like this business model around.

I’m presenting this conversation to you as part of our attempt to broadly cover regulated businesses with cryptocurrency roots.

This is an interesting episode because there are no direct analogies to Neptune DASH’s business model in the traditional financial world.

Mar 29, 2018
The Future of Nomics & Cryptocurrency Data w/ Rob Paone of the Crypto Bobby Podcast (Ep. 0011)

My guest today is actually . . . me (Clay Collins).

On this episode, you will hear a very special interview conducted by Rob Paone, the host of the Crypto Bobby Podcast

A few weeks ago, Rob interviewed me for his podcast and I liked the content so much that I asked Rob if I could air a modified version of that conversation here for you today. He generously said yes, so here we are.

You're probably used to me being the one asking the questions. In this episode, we flip the script and I hope you enjoy what happens when the tables are turned.

Topics include:

  • Nomics' origin story and what led myself and my co-founder to start Nomics.
  • A high-level overview of what Nomics is involved in at the moment.
  • What the future product roadmap for Nomics looks like, and the importance of our forthcoming API product.
  • Why we think we have the cleanest data in the space.
  • The evolution of institutional participation in crypto investing and some of the top lessons learned thus far from the Flippening Podcast.
  • The difference between Alpha and Beta gains.
  • The ethics of crypto asset liquidity events or ICOs.
  • The evolution of ICO fundraising.
  • Crypto index funds and crypto funds of funds.
  • Why I'm so interested in decentralized exchanges.
  • Our favorite crypto projects right now.
  • Please enjoy this conversation between myself and Rob Paone.
Mar 14, 2018
Crypto Index Funds & the Bitwise Hold 10 Index w/ Hunter Horsley from Bitwise Asset Management (Ep. 0010)

My guest today is Hunter Horsley.

Hunter is the co-founder and CEO of Bitwise Asset Management, which operates the first crypto-index fund called the HOLD 10, which tracks the top 10 crypto assets weighted by inflation-adjusted market cap.

The HOLD 10 Index fund has several hundreds of investors that range from billionaires to professors, to large RIA firms.

What’s notable about this interview is that Hunter’s business model is the antithesis of hedge funds’.

The indexing approach is about collecting small fees from lots of investors, and about passive methodologies winning over an active "coin picking" strategies. It’s a belief that a properly formed index can beat hedge fund performance without source code reviews, meeting founders, or creating value hypothesis.

Hunter’s thoughts and worldviews are sobering counterpoints to some of this podcast’s most popular interviews.

Feb 27, 2018
ShapeShift's Anonymous COO on Operating One Of Crypto's Largest Exchanges (Ep. 0009)

My guest today is a guy named "Jon."  Jon wouldn’t tell me his last name or where he’s located.

Jon isn't a mysterious figure I met on an underground Telegram pump-and-dump group or a darknet market operator.

To the contrary, he's the COO of one of the largest cryptocurrency exchanges in the world: ShapeShift.io.

Over time, ShapeShift is becoming somewhat of a crypto conglomerate. They recently purchased Hardware wallet maker KeepKey. They also run the pricing website CoinCap and the do-it-yourself index fund creation tool, Prism (currently in private beta).

In this episode, I wanted to speak with the person in charge of end-to-end operations at ShapeShift. This conversation yields an inside look at one of the cryosphere's most influential companies.

Topics include:

  • The thesis that ties together ShapeShift's products, brands, and websites.
  • How ShapeShift is similar to decentralized exchanges, and how it’s different.
  • ShapeShift’s product for creating your own crypto hedge fund, called Prism.
  • The mechanics of how Prism works, and how Prism creates Ethereum-based smart contracts.
  • What ShapeShift's organizational structure looks like.
  • Why people who run exchanges tend to stay out of the public eye.
  • ShapeShift’s relationship with other exchange operators
  • How running a non-custodial exchange differs from running a custodial exchange.
  • Why cryptocurrency exchanges get a bad rap.
Feb 13, 2018
Selling vs. Borrowing Against Your Cryptoassets w/ Dhruv Bansal of Unchained Capital (Ep. 0008)

Our guest on today's show is Dhruv Bansal.

Dhruv is the co-founder of Unchained Capital, which offers individual and commercial cash loans to US individuals and businesses who can provide Bitcoin as collateral. This is an interesting service because it lets you take out a cash loan on your crypto assets so you can benefit from your bitcoin wealth without having to sell your favorite investment.

In essence, Unchained Capital is a services layer available to users of the bitcoin blockchain and is part of a growing trend towards making traditional financial services available to crypto asset holders. 

This is a fascinating offering, and bitcoin holders seem to be really excited about this trend.

P.S. You might remember Dhruv from Episode 6, where we discussed the top soundbites and talks from Coindesk’s Consensus Invest Conference.

Topics include:

  • Why someone might take out a crypto asset-backed loan.
  • The tax advantages of borrowing against vs. selling your bitcoin.
  • The fact that 60% of bitcoins haven’t been spent in the last year, and how this discovery led to the formation of Dhruv’s business.
  • What sets Unchained Capital’s product offering apart from other crypto loan products.
  • The parameters around Dhruv’s offering, including loan interest rates, loan terms, fees, etc.
  • Why Unchained Capital doesn’t do credit checks and how they handle volatility.
  • How Unchained stores collateral and how they let you monitor it while it’s in their custody.
  • How much money they have lent out thus far.
  • Dhruv’s views on the industry and how he sees his product roadmap evolving over time.
Jan 30, 2018
The 1st Crypto "Fund of Funds" w/ Rick Marini of Protocol Ventures (Ep. 0007)

My guest today is Rick Marini

Rick is the founder and managing partner of Protocol Ventures, a San Francisco based fund-of-funds that focuses on hedge funds investing exclusively in crypto assets.

Rick currently has $10 million under management and is raising a $100M fund.

Today’s conversation is a deep dive into Protocol Ventures and an exploration of the fund of funds model, as well as how Rick has applied that model to crypto asset investing.

This discussion is important because it is the very first published interview with a founder of a crypto asset fund of funds.

Jan 16, 2018
Consensus: Invest's Top Soundbites & Highlights (Episode 0006)

This week's episode is a compilation of the best audio clip highlights, talks, and discussions from Consensus: Invest.

If you didn't attend Consensus: Invest, or you haven't heard of it, it was the very first conference for institutional investors focused on cryptoassets, and it happened at the end of 2017 in New York City.

For today's roundtable discussion, we are joined by Taylor Pearson and Dhruv Bansal from Unchanied Capital. You might remember Taylor from a previous episode. He's a popular essayist and the author of The End of Jobs. Dhruv is the co-founder of Unchained Capital. Unchained Capital is a service that lets you take out a cash loan on your crypto assets so you can benefit from your Bitcoin wealth without having to sell your favorite investment.

In this episode, we've recapped Consensus Invest and compiled our favorite audio clips and discussions from the event.  This episode is the next best thing to attending in person.

Topics include:

  • Thoughts on a talk about cryptocurrency as a new asset class.
  • The evolution of Bitcoin and how it has been used since its inception.
  • Our take on a fascinating panel about cryptocurrency taxation.
  • Some compelling existential bear cases for the cryptocurrency space.
  • How institutions can gain exposure to the cryptocurrency asset class.
  • What the general vibe was in the hallway of this event.
  • How much the event has changed in the last year and a half.
Jan 09, 2018
World's 1st Interview W/ A Crypto Liquidity Provider (Ep. 0005)

Chances are good that you've never met a professional crypto liquidity provider.  And before meeting today's guest in Zug, Switzerland, I'd never met one either.

Today's guest is Benjamin Roberts, the co-founder of Citizen Hex, which is (you guessed it) an Ethereum and ERC-20 token liquidity provider.

Citizen Hex works to increase the likelihood that, when traders place buy and sell orders for ERC-20 tokens on various crypto-exchanges, that those orders go through.

This conversation is a deep dive on what it means to be a market maker and liquidity provider in crypto markets.

Dec 23, 2017
Crypto News Roundup for December 2017 (Ep. 0004)

This week’s show is our very first Crypto News Roundup for December of 2017.

These episodes provide long-form commentary and context around the most important news and events for cryptocurrency investors.

Joining us for this episode is Taylor Pearson, the author of The End of Jobs.

Taylor recently spoke at length on social media about the lack of understanding that many people have for blockchain technology.

This conversation includes some great insight into crypto hedge funds, cybersecurity, and institutional cryptoeconomics.

Dec 11, 2017
Crypto Hedge Funds & Multicoin Capital w/ Kyle Samani (Ep. 0002)

A deep dive into the topic of crypto hedge funds generally, and Multicoin Capital, specifically.

On today’s show, we are joined by Kyle Samani.

Kyle is the co-founder of Multicoin Capital, an Austin, Texas-based crypto hedge fund with $10 million under management and currently raising a $100 million fund.

This is a very timely discussion, given that there are now over 124 registered crypto hedge funds, most of which were created this year.

Dec 11, 2017
Bitcoin Derivatives with Aaron Brown (Ep. 0003)

Our guest today is crypto-derivatives expert and Bloomberg contributor Aaron Brown.

Aaron is the former Managing Director and Head Of Research at AQR Capital Management (the world’s second-largest hedge fund with over 63 billion under management).

Today’s conversation is a deep dive into the topic of crypto and bitcoin derivatives. This is a timely discussion, as CME Group, Cboe, LedgerX, and Nasdaq have all launched -- or announced plans to launch -- Bitcoin derivatives markets.

Many believe that these announcements have fueled the huge gains we have seen in the price of Bitcoin in October, November, and December of 2017.

Dec 11, 2017
Introducing Flippening: For Crypto Investors (Ep. 0001)

Welcome to the very first episode of Flippening.

This podcast is for a new class of investors who were not part of the financial services world before bitcoin, but came into the finance space because of their passion for crypto assets and distributed ledger technology. As part of the movement to recreate the world’s financial system from the ground up, these folks are starting hedge funds, creating financial products, addressing the custodianship problem, starting liquidity businesses, starting decentralized crypto exchanges, etc.

Each week we discuss the cryptocurrency economy, new investment strategies for maximizing returns, and stories from the front lines of financial disruption. In the upcoming episodes of Flippening, we’ll be having conversations with the creators of the new financial reality. The ensuing episodes will feature conversations with financial revolutionaries, economic heretics, crypto anarchists, and people who just think a few things could be done a bit better.

This podcast is for investors by investors and nothing else exists like this today.

Dec 08, 2017