TMBA 430: The Philosophy Of Crypto

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Podcast 45:18| Download | Stitcher | iTunes | Comment

A few weeks back, Dan and Ian shared an in-depth conversation about cryptocurrency.

That podcast featured Greg Gerber, who spoke about some of the things that are useful to know about Bitcoin, Ethereum, and other digital currencies.

The response to that podcast was fantastic, and we thought we would follow up on the topic by inviting our longtime friend, and cryptocurrency enthusiast, Taylor Pearson back on to the show.

Taylor’s recent article “Why Is Bitcoin Valuable” was recently featured on the front page of Hacker News.

On today’s show, Taylor joins us to talk about that article, and to share his insights on the philosophy behind this new technological movement.

This episode isn’t all philosophical, though. Taylor also shares some great tips about how you can dip your toes into the crypto space, if you are so inclined.

Transcript

Listen to this week’s show and learn:

  • What makes cryptocurrency different from other money platforms that have existed online. (2:35)
  • Why the learning curve for cryptocurrencies can be steep. (7:44)
  • Some of the opportunities that Taylor sees in the future for small business owners in the cryptocurrency space. (12:56)
  • How to get started purchasing cryptocurrency. (23:46)
  • How turmoil in your personal life can impact your productivity. (42:22)

Mentioned in the episode:

This week’s sponsor:

This week’s episode is brought to you by Empire Flippers. Empire Flippers are the leading specialists in helping entrepreneurs buy, sell, and invest in online businesses. Whether you are looking to buy or sell, Empire Flippers’ dedicated team will make sure you are supported at every step of the process. As a very special gift, the Empire Flippers are offering a free business valuation (A $300 value) exclusively to listeners of this show. All you have to do is visit EmpireFlippers.com/TMBA for more details.

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Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST. Cheers, Dan & Ian

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Published on 03.01.18
  • Baby duty + Gerber…. lol, am I the only one that connected that?? Great “Pod” as usual!

  • :D

  • Seán Feehan

    Solid pod again. So if the crypto is internet number 3 whereby internet 2 the closed sources of FB, Google, Amazon was built ontop of the existing foundation of internet 1 TCPIP/HTTP… Is this new era been build ontop of these foundations or to the side on another platform? I also wonder if for example like Wealthfront a simple investment tool across stocks/bonds if there is a similar group offering services in the crypto?

    And with the DC and TMBA Dan i am sure you will find plenty of players for Team Dan plus subs

  • Re: “Is this new era been build ontop of these foundations or to the side on another platform?”

    To the side. Amazon, FB, and Goog were possible b/c they were built on open platforms where the rules could not be changed in an arbitrary way. The problem with trying to build a business on those platforms though is they can and will change the rules to suit themselves. E.g. Farmville got tanked w/o any say in the process.

    Re: “I also wonder if for example like Wealthfront a simple investment tool across stocks/bonds if there is a similar group offering services in the crypto?” check out https://www.bitwiseinvestments.com/

  • Seán Feehan

    Nice one for that explanation Taylor!

    Bitwise has a very strong foundation in its team especially with Naval. However it is limited to 25k and USA investors only.
    Have you or anyone come across something accessible to us outsiders in Ireland or the UK ?

  • Ahh, I don’t know of anything outside the U.S. unfortunately.

  • Seán Feehan

    That’s cool. Appreciate the help

  • Great podcast guys, lots of wonderful info and I’m so happy to hear about crypto on one of my favorite biz podcasts! Just a couple of bones to pick:

    1. Taylor you mentioned the different groups involved in bitcoin and it seemed like you were saying bitcoin has outgrown it’s libertarian foundation. I don’t think this is true. If not for the cypher punks who started in the 80s, there would be no bitcoin. The crypto-anarchists are at the foundation of bitcoin, and if we dismiss the philosophy, we will lose bitcoin. Decentralization is what it’s founded on, and any attempt to centralize or get “adopted by banks”, or accept regulations by the fed/gov will be disastrous and defeat the purpose of bitcoin.

    2. Just a small correction. Dan mentioned that you have to use a 3rd party to buy bitcoin, which adds counterparty risk. Taylor later mentioned localbitcoins, but this wasn’t connected. It isn’t true that you need a 3rd party to buy bitcoin. If you want anonymity, you can use either localbitcoins.com and find someone in your area, or, the more preferred way, meeting people in your local area you can trust to buy and sell. This eliminates the need to give up anonymity when buying and selling. It is true that most people will just sign up for Coinbase and give up their info, but bitcoin is not inherently something you need a 3rd party bank or exchange to buy and sell with.

    Looking forward to hearing more!

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