Ep. 26 Pump Up the Volume


In this episode of The Unhashed Podcast: This week, more than one research firm published reports about the true trading volumes of several of the largest exchanges, like binance and coinbene. Is this a sign of fraud or is pumping up the volume just the sign of a good time Peter McCormack is taking shit over having on Erik Vorhees on his show What Bitcoin Did and not challenging him enough. Are maximalists turning into the Bitcoin equivalent of social justice warriors by calling for the deplatforming of prominent yet hated people in the community or is ignoring stupidity the best way forward? And...the Bitmain IPO has officially died. Is this a grim omen of the things to come for Bitmain or can they keep it together long enough for the new leadership to turn the ship around and buy some good will among bitcoiners once more?

Topic Times:

0:00:00 Introduction

0:03:03 Studies Indicate Fake Trading Volume

0:22:40 Maximalism and Deplatforming

0:33:05 Amary Sechet leaves Bitcoin Unlimited dev team

0:40:21 Bitcoin IPO Filing Expires

0:47:07 Blockstream Green

1:00:29 ICOMG - Sponsy

1:10:03 Lightning Round

Weekly News Wrap Up:

  1. Bitcoin and Crypto Trading volumes came under fire from two seperate pieces of research.  Firstly, a powerpoint presentation that Bitwise gave to the SEC detailed Bitwise’s research into various exchanges and showed that, suprise suprise, around 95% of the volume on top exchanges is either fake or “non-economic”.  Separately, thetie.io came up with 86% of BTC trading volume is fake.  

  2. Some prominent self proclaimed “Bitcoin Maximalists” are taking @whatbitcoindid Peter McCormack to task for having Erik Voorhees on his show.   Some of the hosts here have said they would have on controversial guests in order to have an interesting conversation and further dialog. At what point are we, the bitcoin community, no better than SJWs in our calls to de-platform people and isn’t this contradictory to Bitcoin’s push to expand freedom of expression through uncensorable money?

  3. While still planning to work with BitcoinABC, Amary Sechet parted ways with the Bitcoin Unlimited dev team.  In a letter posted to Medium, he wrote:  “Today, BU membership is composed of numerous BSV supporters. Not only some of them think that suing developers (including myself) providing open source software for free is good...The BUIP process has turned into a sad joke, with proposals more and more absurd being voted on. BU leaders are complacent and, while saying that the attitude of the [Bitcoin Satoshi’s Vision (BSV)] community will cost them developer support, they continue to enable the toxic behavior by supporting BSV.”  

  4. The Bitmain IPO Filling has expired.  According the Hong Kong Exchange rules, companies have 6 months from the time of filling to be approved at a hearing.  After 6 months, the application expires automatically. Since its been nothing but crickets from Bitmain, the IPO is dead, for now at least.

  5. Blockstream released their new “Green Wallet”, designed by the “GreenAddress” team that Blockstream acquired in 2016. It’s different from regular wallets in that it makes use of 2-of-2 multisig in order to provide additional security features. It’s also one of the few iOS wallets that supports Replace-By-Fee, an important feature for making sure transactions confirm. You can also connect to Tor and your own full node, but this feature is available on Android only.

ICO My God They’re Serious:


Shout Outs:

Bryan: @100trillionUSD

Ruben: The Power of Now (don’t take too seriously but grasp the concept) and Strange Planet

Mario: The outdoors r/outside

One Final Note:

Make sure you are storing your crypto on something secure like aLedger and backing it up on something sturdy like aBillfodl. If you buy these items through the links above, we do take a cut of the profits but it also helps support the show - a win/win for all involved.

Colin aulds