FWB047

Hash Rate All-Time Highs While Altcoins Get Prosecuted

Hash Rate All-Time Highs While Altcoins Get Prosecuted

block #771180

synopsis

The one-year podcast anniversary episode. They celebrate with Shania Twain, then dive into major bitcoin stories: bitcoin turning 14, hash rate all-time highs, Proof of Keys Day, a bitcoin core developer losing 200+ BTC through an overcomplicated setup, airport phone confiscation laws, the polar vortex revealing bitcoin's energy correlation, and the DCG/Genesis/Gemini Earn crisis. Ian predicts 2023 will be the year altcoins get prosecuted and go to zero.

quotes

Mandana: "We made a whole episode that if you'd follow what we said this wouldn't have happened to him. How many people have we told?"
Ian: "Bitcoin is unhackable. He was socially engineered... just because a person is smart, just because the person is a bitcoin developer doesn't necessarily mean they are taking the appropriate steps."
Ian: "When people say bitcoin has no value — there's some value in there because people stop doing it at a certain point."
Ian: "What happens when they don't get bailed out? You're going to be sitting there writing letters."
Ian on FTX theory: "I believe that politicians in America were passing bills to send money to Ukraine, Ukraine was putting that money into FTX, SBF was then loaning himself money and making donations to politicians... That is the tightest circle you can draw."

topics

Podcast one-year anniversaryBitcoin's 14th birthday / Proof of Keys DayBitcoin core developer hacked (lost 200+ BTC through social engineering, not network hack)Hash rate all-time highs throughout 2022Polar vortex causing bitcoin mining difficulty adjustment (energy-bitcoin correlation)Airport phone confiscation laws (US, Australia, UK, NZ — passed 2017)Travel security: separate phone for bitcoin appsDCG/Genesis/Gemini Earn crisis: $900M frozen, Barry Silbert's history in the block warsGBTC: 600,000 bitcoin in a trust, paper bitcoin, negative premiumBitcoin Center bar in Puerto Rico that didn't accept bitcoinPrediction: 2023 is the year altcoins and NFTs face regulatory action
published
January 16, 2023
block
block #771180
full show notes
open