#39: What is cryptocurrency? Prof. Brian Lucey (TCD)
Today I am joined by Prof. Brian Lucey of Trinity College Dublin who has carried out a lot of research in recent years on cryptocurrencies. We go through the basics behind crypto/blockchain and the dynamics in the market. Brian offers some words of caution for any central bankers that might have one eye on digital currencies!
We move on to other areas of financial markets including the recent GameStop/wallstreetbets short squeeze. Prof. Lucey has done some interesting work analysing the sentiment expressed on reddit threads to see if this really was a case of all the little guys standing up to the man or whether it was a lot of scared little guys following a few heavy hitters.
We also discuss NFTs or non-fungible tokens. These have recently entered the public consciousness and Brian takes us through what they are and where they may get their value.
This is part one of a two-parter on crypto. Here we cover a lot of ground and go through the economic fundamentals, with a second part lined up to discuss more recent developments.
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