Ep. 39 Zuckerberg's Shitcoin

In this episode of The Unhashed Podcast: Facebook unveiled Libra, a blockchain that promises to bring the internet of money to the masses, but are there crippling aspects to the coin that make even the best case scenario a centralized and trustful mess? Bryan challenges the almighty dollar amidst a crowd of NATO dignitaries. How do you think that will go over. And...Craig Wright has been ordered to appear in court with Ira Kleiman. What sorts of revelations do IRA’s lawyers have hiding up their sleeves?

Weekly News Wrap Up:

  1. Bryan just got back from a trip to Finland, where he got to go to a “blockchain” meetup 

    1. Thoughts on Finland

      1. Very polite

      2. Very Rule follower

    2. Got to meet Jeremias Kangas, the founder of Local Bitcoins

      1. Very nice guy

      2. Asked him the same thing we asked Eric Voorhees, “If you had it to do over again, would you still have founded your company in Finland”  

    3. Most importantly, he learn a new word in Finnish: “Paskakolikko” 

  2. Bryan was in Finland to attend an academic Conference put on by NATO, where Bryan predicted out loud to the whole room: “The event in the next 10 years that will lead to the greatest amount of change in the world will be the fall of the US dollar as the world reserve currency”.

    @nwoodfine states: No matter how many ways you can find to say money is a:

      1. - Shared illusion

      2. - Shared delusion

      3. - Belief system

      4. - Collective agreement

      5. - Social consensus

      6. - Mental construct

      7. - Group imagination

      8. It’s still a dumb soundbite you got from Sapiens and it’s still wrong.

So is money a religion? Is the US Dollar a religion?  

  1. On June 22nd, 86% of all volume on BSV came from the top 100 transactions.  Compare that to about 10% on Bitcoin.  

  2. Speaking of Craig wright, he has been ordered to appear in court on Jun 28th for a deposition in the trial between him and Ira Kleiman.  Get the popcorn ready, because it should be interesting. For a further run down of the strategies in the case, read Daniel Kelman’s Medium post.  Daniel is a Lawyer out of New York who deals in Bitcoin matters.  Interestingly, he thinks that Ira’s council doesn't believe Craig is Satoshi either and is just looking for a pay off to go away.  “It is on this basis that I believe the real strategy pursued by Kleiman’s legal team may be to seek a confidential settlement from Wright for far less than the billions sought in court. In essence, pay me or get exposed. Much depends on what Kleiman is willing to settle for.”

  3. A new Reddit AMA just popped up from u/Chainalysis1, but was quickly deleted.  Screenshots can be found under @6102bitcoin’s handle in a thread here. Some of the juicier bits:

    1. “Is Chainalysis running a large set of Bitcoin Nodes? Yes, at one point it was 10% of the network.  Probably significantly smaller now, as a percentage, but still a large volume”  

    2. How much effort goes into watching IP Address of nodes? “Doesn’t seem like its high on the list”  Less than 10% success rate 

    3. If you were tasked to make your job irrelevant, what would you propose? “Use wasabie wallet/coinjoin, mixers, IP Opsec, and alternate coins, like monero and other privacy coins”  

    4. No for sure way to tell if this is legit, but Lots of other cool questions in the thread, check out the show notes for a link.

  4. Facebook unveiled Libra, a self-proclaimed “cryptocurrency” that is backed by a reserve of assets, in order to give it a stable value. Facebook’s stated goal is to bring “the internet of money” to the masses. The network uses Byzantine consensus, similar to the Ripple network. Among the members of the Libra organization are Coinbase, PayPal, Mastercard, Visa, Uber, Lyft, and Women’s World Banking. The aim is to have 100 validators ready by launch and eventually support many more. The plan is to start off as a permissioned blockchain and eventually transition to becoming fully permissionless, but even in its permissioned state, Libra promises open access to everyone.

Listener Questions:

@MikeInSpace asked for price analysis: Number Go Up!

Shout Outs: 

Bryan: The city of Helsinki

Mario: Pay to End Point

Ruben: Anthony Towns on Libra

One Final Note:

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Colin aulds