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Bitcoin Takeover

Season 4

S4 Sponsored: Jack Tao on Phemex

Phemex CEO Jack Tao talks about his journey from Morgan Stanley to Bitcoin, and explains why he enjoys the decentralized world.

Jack Tao’s story is both interesting and relevant for the state of global finance. After working at Morgan Stanley for 11 year, he decided to leave the Wall Street glory behind in order to join the Bitcoin revolution.

Jack and some other colleagues from big legacy financial firms have joined forces in order to create Phemex: a Bitcoin exchange which enables universal access to investments and grants users great privacy. As of now, Phemex operates without any form of KYC and is looking into ways of maximizing the sovereignty and control that users have over their funds.

During this hour-long episode, you will get to find out more about Jack Tao’s experience in finance, his vision for Bitcoin, and the ambitions of Phemex. If anything, it offers a fleeting glimpse of the future of finance and the aspirations of former Wall Street executives to build a more inclusive and universal financial system where everyone has access to the same services irrespective of the value of their investment portfolio.

Also, check out the Phemex puzzle which hides a 2.1 BTC prize. Decode the private key according to the clues and win: https://twitter.com/Phemex_official/status/1217808220703473664?s=20

Thanks to Phemex, season 4 of the Bitcoin Takeover Podcast has been the best in the series so far: with improved audio quality, more consistency, and a unifying central theme.

The deal with Phemex is about offering ad space, as well as having a conversation at the end of the season in a special episode. This recording with Jack Tao a great opportunity to express gratitude for the excellent 10 episodes that have been added to the series. It’s also a chance to meet the sponsor and better understand his plans and intentions.

Listen to the episode on iTunes and Spotify!

Don’t have an account on iTunes or Spotify? Here’s a YouTube link for your convenience.

Enjoyed this interview with Rodolfo Novak? Here’s how you can help the show grow:

Time Stamps:

3:16 – What is Phemex?

4:19 – From Morgan Stanley to Bitcoin

7:05 – What makes Bitcoin special?

9:23 – Limitations of the legacy financial system and fungibility

11:18 – Unbanking the banked

13:10 – Phemex vs BitMEX

17:00 – Separation between user accounts and the exchange

18:05 – What is simple about Phemex trading?

20:03 – Find 2.1 BTC in an art puzzle

22:00 – Information about the contest

23:21 – Phemex exchange whitepaper/yellowpaper 

29:07 – How does Phemex scale?

32:06 – Why small investors should use Phemex

37:52 – Which hardware wallets does Jack use and recommend?

41:05 – Buying BTC on fiat for DCA

42:42 – How should bitcoiners think of Phemex?

43:41 – No KYC/AML on Phemex

45:49 – The data management problems involved in storing user private data

48:40 – Why BTC insurance is not perfect

50:40 – The lessons we learn from altcoin failures 

51:05 – Bad Bitcoin regulations by politicians who don’t get it

54:20 – Big companies demanding for more regulations due to monopolistic greed

59:00 – Closing statements

Special thanks to Phemex for sponsoring season 4!

“Phemex is a Bitcoin exchange with derivative trading options which focuses on speed, robustness, and maximum uptime. Built by former Morgan Stanley executives, it manages o bring simple and accessible Bitcoin trading. In 2020, Phemex will also add S&P 500 stocks, stock indexes, FOREX, commodities, and more. 

Sign up today at phemex.com/bonus and receive a bonus of up to $72.

Please keep in mind that this is just an ad for a sponsor of this show. It’s not meant to serve as financial advice, and you’re responsible to do your own research before buying anything and act according to your own decisions. Embrace your financial sovereignty with agency and precaution.”

Vlad Costea
Written By

I'm here for the freedom, censorship-resistance, and unconfiscatability. What about you?

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