EP37: Bailey Reutzel - Reporting on Bitcoin and the Evolution of Money
Bailey Reutzel was one of the first financial reporter to cover bitcoin, before banks would even acknowledge its existence.
She just finished a six month, 48 state road trip and wrote an article about each state's financial and economic culture.
To get an idea of what Bailey wanted to accomplish during MoneyTripping, her road trip, check out the Atlantic article featuring her below:
You can connect with Bailey at:
Her Blog: http://moneytripping.com/ - over 50 blog posts from her road trip
As a reporter for American Banker and Payment Source, Bailey broke some big early stories, and was one of the lone voices reporting on bitcoin to the banking sector. Bitcoin has mostly been seen as a consumer application, so Bailey reporting for a trade publication is quite unique. You can find an archive of her reporting here:
She currently writes freelance for Coindesk frequently – you can find her recent work here: http://www.coindesk.com/author/baileyreutzel/
Favorite Quotes from the podcast:
On Bitcoin versus private permissioned ledgers:
“I think a lot of these private permissioned blockchains, it is still yet to been if they can pull this off. Because everything is in pilot or proof of concept phases, and so the bitcoin community has an angle there to say were the only ones up and running, and we've been up and running since 2008.”
On covering early Bitcoin companies:
“And a bunch of companies that I covered that covered back in the day are no longer around, and it's not necessarily because they were bad companies, it was because they were too soon, they were before regulation, and once regulation hit, it was like 'Oh shit, what do we do now?'”
After making a name for herself in the bitcoin payment reporting space, Bailey moved to London. There she met a group of anarchist squatters in London – who further motivated her to go out and do her own thing. She met guys like Brett Scott http://skepchick.org/2014/03/bitcoin-101-with-brett-scott/ and Dave Birch https://www.youtube.com/watch?v=ccTA2J1QcBM.
Amongst the London squatters:
“There was a huge group also talking about the history of money, predominantly because bitcoin is a thing. Let's go back, why is bitcoin a thing now? Does that say anything about money's past, or money's future? That was the initial underlying of MoneyTripping, the road trip.”
An intense road trip - three days per state:
“As the road trip went on, it just became more and more of a vacation. Where I am just going to do whatever I want. And I think that actually turned into better work.
To financially make MoneyTripping happen, Bailey saved up some money, and did some freelance journalism on the side. She also earned $1500 in tips, mostly through Paypal, but some bitcoin tips.
She started MoneyTripping with $8,000, and in all spent about $12k, living frugally. Half of the spending was on gas. To cap off the trip, she drove back into Missouri with $300 in her account.
Could iy have something to do with the Bystander Effect? https://en.wikipedia.org/wiki/Bystander_effect
On limits to living where she wants to in the world: On a freelance budget, there's no way they would give me a visa. There is a systematic bias towards employment in the modern immigration system.
On Bailey's view of the US economy after driving through every state:
“There's a huge contingent of young people in this country right now: the job market is shit, unemployment is high, and so what do you do? You become an entrepreneur.”
We know our listeners already understand this. The best way to create your lifestyle of freedom and flexibility is to get into the entrepreneurial mindset.
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