Sponsored by: YOU on Patreon (extra weekly content)
Direct contribution (bitcoin only): 17ojFGrjczRtoAznoa1K4PZGvUSQ695hQX
If you like the show, Please Share, comment on soundcloud, or review on your podcast app!
|Localbitcoins vol (7d)||$ 31.6 mil|
|Network vol (24h)||$ 422 mil|
|Avg Tx Value||$1379|
Bigcoin is my little brain child. There is a lot of demand out there for a coin that makes founders rich, so I thought I’d join in. This token has a lots of high demand features like smart contracts, virtual machine, bugs, masternodes, insta-premine (patented process), and centralized governance model. The revolutionary aspect to this token is it’s unique consensus model. PoW is wasteful and PoS is a unicorn. Therefore, I’m building a new consensus model I call proof-of-poloniex (PoP). All will be made clear in its upcoming whitepaper and roadmap.
Development will begin some time after the ITO (initial token offering). These tokens will have no immediate use case, and probably never will, other than the very slim chance of making you rich. It’s very similar to a lottery ticket, except the chances of you getting rich with Bigcoin are much lower, but the chance that I get rich are much higher. Who knows, you could get rich though.
SEC Reopens COIN ETF Discussions
Holy cow, the bitcoin ETF is back. Two weeks after the disapproval, the BATZ exchange filed a petition to reexamine the COIN decision, which the SEC approved. It will now take another look at the ETF.
Some preliminary analysis I’ve seen is saying that the chances of the ETF getting approved this time are slightly higher that March. The new deadline is May 15th and we could rally into that decision just like we did into the March decision. The added to the Bitfinex troubles are very important.
The bitcoin price has been held down by over the last 6 months by the PBoC FUD, ETF disapproval, and the scaling FUD. The price is artificially suppressed for sure. My estimate of the fair market value is currently between $3000-$5000, simply because of the geopolitical mess the world is in right now.
Upcoming Pivot to Bcoin (00:00)
There’s been some talk recently about what the next bitcoin attack is going to look like in terms of trying to centralized control over the protocol. One month ago, the choices were very slim. Classic and Unlimited were the only two, and both were pretty well destroyed by their short time in the limelight. We haven’t heard much from Classic in a while, other than the leak about just going with a fork. Their 2MB block size looks silly now when compared to segwit/schnorr/lightning. The Classic leak mentioned forking to an 8MB block, which would be more realistic. With Classic however, there’s no interest without a malleability fix and lightning. It’s a losing proposition to say today, we want to scale on-chain. That’s just not realistic. Also, Classic was built on a populist voting vibe. That idea has been crushed by showing that most people don’t understand the limitations of the code, and creating a solid reliable
Now we have Bcoin, a very strong implementation that has been running on the network for a while now. The conflict over where they got their funding is very telling. Purse/Bcoin still won’t say if they recieved money from the Wu/Ver Bitcoin Development Fund (which should be called the Bitcoin Attack Fund).
This Show is Sponsored by You!
Please visit our Patreon page. This show is completely independent and answers to its listeners only. Join us.