How to Survive the Crypto Boom & Bust Cycle

Over the past decade crypto has been declared dead hundreds of times. But with the price of Bitcoin surging over the past few months it’s clear that there are still enormous opportunities in this space. And few people know that better than Chandan Lodha, the co-founder of CoinTracker (W18), a crypto asset management and tax filing platform. He and his team have navigated several boom and bust cycles over the years and in this latest episode of The Main Function, you’ll hear about how they built their company, the time it nearly fell apart, and how they used a crypto winter to retool and emerge stronger than ever.
If you need help doing your crypto taxes this season make sure to check out CoinTracker: www.cointracker.io/
Apply to Y Combinator: yc.link/MainFunction-apply
Work at a Startup: yc.link/MainFunction-jobs
Chapters (Powered by bit.ly/chapterme-yc) -
00:00 - Intro: The Story of CoinTracker
01:02 - Part 1: Finding the Right Problem
02:19 - Part 2: Surviving Crypto Winter
05:14 - Part 3: CoinTracker 2.0
09:17 - Outro

[@chapterme]

Chapters (Powered by ChapterMe) - 00:00 - Intro: The Story of CoinTracker 01:02 - Part 1: Finding the Right Problem 01:20 - CoinTracker: Leading crypto-currency portfolio tracking and tax compliance software 02:19 - Part 2: Surviving Crypto Winter 02:42 - Adapting to Crypto Evolution 03:49 - Running out of money, relying on co-founder's support 04:14 - CoinTracker's commitment to mission, honesty, growth 05:14 - Part 3: CoinTracker 2.0 06:38 - Obsession with users feedback 07:58 - Taking a long-term view 09:17 - Outro

[@ChandanLodha]

Thanks for having me on Garry. It's a pleasure to see how crypto is already changing the world, and play a small part in shaping how it will continue to do so in the future.

[@fintech1378]

Wen are we gonna be rich from memecoin

[@ChandanLodha]

@@fintech1378 Price go up, price go down. Get rich slowly is the way

[@JetSoftProHQ]

Thank you for this interview! At JetSoftPro, a software development service, we believe that cryptocurrency is a revolutionary technology that is actually undervalued right now, so its full potential is not being realized

[@JetSoftProHQ]

Also, would you have the time and opportunity to join us for a podcast? Your conversation was comprehensive, but questions remained :)

[@caffeinum]

Please remove the background music, it turns a podcast into elevator screen ad

[@gomini3707]

"A strange game. the only winning move is not to play"

[@nictamer]

To use crypto currency, you need perfect security. That means having your own hardware wallet, air-gapped, and all kinds of state of the art security measures. That's not user-friendly, that's never going to be user-friendly. You can't rely on exchanges ("not your wallet, not your coin") There is currently one use case for crypto, and that's payments related to illegal activities, such as dope or ransoms. I'm confident in predicting that it's never going to be anything else. IF you don't believe me, just go ahead and name something else.

[@conformist]

idk man, there's a bunch of ppl that want to hold stablecoins, esp if their own currency is not stable. second use-case is bitcoin, a store of value. there are not many uses cases of crypto today, but there are some. yes, there is crime where ppl use crypto to transact, but that's also the case for the US Dollar. if anything, more illegal activities are transacted using the US Dollar. it's untraceable, unlike most cryptocurrencies, which are. on user-friendliness, you are right that it's hard to keep your private key secure. but if that's the strongest argument against crypto, i think if there's real global demand of use cases of crypto, i think the devs will solve the problem. there are prob some variations of m-of-n keys setups that one can do, and account abstraction is upcoming for the EVM which will further help with usability. i think with time, it can be solved for sure.

[@alexlejd6601]

It is a faster means of transactions - you don't need to rely on banks, and the transaction times that it takes for them to process payments are skipped - this can be important for small businesses that can't impact transaction times with banks. Stable coins avoid FX fees - if you are exchanging transactions on a daily basis, stable coins can be superior. There are a lot of arguments like this. Speaking generally, for small businesses that operate on a global level, crypto is usually the cheaper and more efficient means of transactions. The illegal activity part, generally might not apply anymore - just guessing here, but most wallets are probably on an exchange >95%, (exchanges require signing up with valid id:s) as transactions are on the block (all transactions are visible to everyone), its easier to track the whole value chain of financial activity (availability of data, standardised systems and with tracking technology) - unless all the accounts in the transaction chain are unregistered.

[@nictamer]

@alexlejd6601 Sepa bank transfers take

[@george_davituri]

interesting talk, how he kept handling with rapidly changing customer requirements, as well as all ups and downs ⭐️👍🏻

[@felixmacharia164]

Amazing interview. Thanks for this 🙏🏾

[@mjmikaelson]

I really love the into and music in the beginning.

[@PoolMedia]

Great video, thanks!

[@ycombinator]

Have you ever taken advantage of a downturn in business to retool and reimagine your startup?

[@MrCutz-gu3ox]

I’m 19 owning no crypto and no portfolio , how can I start?

[@noisycarlos]

@@MrCutz-gu3ox to start, the first step is to find something that you can do or can learn that other people value/are willing to pay you for.

[@shancunma6001]

In bitcoin we trust