A very interesting event took place this week when one of bitcoins most prominent advocates announced he had sold all of his bitcoins and thought the bitcoin experiment was coming to an end.
It was rather dramatic and the price of bitcoin plummeted by around 20%.
Mike raised a couple of important critiques in his farewell letter to the bitcoin community. Namely the decentralized consensus mechanism is broken and the flow of information to the bitcoin community is now being censored.
In this video I share my thoughts as to why he is overstating the problem and give you a round up of the issues at hand.
Had an excellent chat with Peter at Freedom Fest recently.
His perspective is fascinating but I did not get the time to challenge him on any points as he was rushing off to the airport so I would like to point out a few things here.
1. Peter's view of the US was in the minority of most experts at Freedom Fest. Everybody agreed that the US has some serious problems as does Europe, China and Japan. Peter was of the opinion though that the US problems are much worse than the others and the world will soon learn that. Most others believe the US is better than most and will limp along and possibly even prosper for the next few years yet.
2. Almost everybody at Freedom Fest agreed that precious metals was an excellent insurance policy against a worldwide financial crisis which was looking more and more likely every day.
3. I have rebutted Peters comments about bitcoin on youtube here about a year ago.
Click here to join us and you can enjoy the entire interview.
Enjoy the interview
PS: I was trying a new video rig and it went pear shaped. This one is audio only. My apologies.