GSR's Rich Rosenblum digs into bitcoin's upcoming halving

Episode 14 of Season 2 of The Scoop was recorded remotely with Frank Chaparro and Rich Rosenblum, co-founder of GSR Trading. 

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It is the one thing the entire cryptocurrency space is anticipating: the bitcoin block reward halving.

In 19 days, the number of bitcoin released with each block reward will drop from 12.5 to 6.25, a 50% cut in supply.

This will be the third halving in bitcoin's lifetime and it has market participants across crypto speculating about the potential ramifications. Namely, whether it will result in a pop in bitcoin's price or whether it is priced in.

In this episode of The Scoop, we welcome GSR Trading co-founder Rich Rosenblum to dig into the halving. Rosenblum, who spent ten years at Goldman Sachs trading oil, kicked things off with the firm's transition from a programmatic trading firm in a retail driven market into a broker offering bespoke products to help miners hedge their risks.

We also discuss: 

  • The fundamental difference between oil and bitcoin in terms of supply and demand dynamics 
  • The similarities between mining operators and shale producers
  • The reason why U.S.-based "institutional" offerings have failed to launch while the Asian derivatives market has taken off
  • How trading firms and market participants are preparing for the halving, and, of course, whether it is priced in 

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