Beginner's Guide #15: Bitcoin FUD with Nic Carter - WBD200
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 6 March 2020
⏱️ 71 minutes
🧾️ Download transcript
Summary
Location: Skype Date: Saturday, 29th February Project: Castle Island Ventures Role: Partner
Welcome to the Beginner's Guide to Bitcoin.
Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.
Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.
The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.
Beginner's Guide Part 15 - Bitcoin FUD with Nic Carter
Bitcoin is a peculiar beast, and as with any new technology, it takes some time to understand it and its potential impact on the world. While Bitcoin media reporting is improving, there are still lots of untruths and myths that are perpetuated by mainstream media. Further, competing projects, anti-Bitcoin proponents and the uneducated add to the confusion by repeating false accusations.
Blanket statements such as "Bitcoin is only used by terrorists, criminals and money launderers" or "proof of work is wasteful and uses as much energy as X country", continue to cast a shadow over the technology.
Bitcoin is still a relatively new form of digital money, the likes of which the world has never seen, as such, it is easy to be misled by outdated or poorly formed arguments. "Bitcoin isn't backed by anything" is another commonly used argument, which fails to recognise that neither is fiat currency and is printed at will, whereas Bitcoin has a fixed supply.
In this interview, I am joined by Nic Carter, a partner at Castle Island Ventures, and we discuss and dispel the myths, untruths and FUD that Bitcoin faces.
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Transcript
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| 0:00.0 | Welcome to the What Bitcoin did podcast. |
| 0:05.0 | Hi there, how are you all? |
| 0:08.0 | Welcome to the What Bitcoin did podcast, which is brought to you by the mighty |
| 0:11.3 | Kraken. |
| 0:12.3 | The best place to buy, sell and trade |
| 0:13.9 | Bitcoin. I'm your host Peter McCormack and we are back to the Bitcoin Beginners guide and I welcome |
| 0:18.9 | back Nick Carter to look at FUD Surrounded Bitcoin and Bitcoin and dispels a mists and truce. |
| 0:24.0 | But before that, I do have a message from my amazing sponsors. |
| 0:27.6 | So first up, we have BlockFi, who are the future of Bitcoin and financial services, |
| 0:32.2 | and they have kicked this year off with a bang. |
| 0:35.1 | Zach just announced that BlockFi has raised another huge round to reflect what an amazing year |
| 0:40.0 | they had last year. |
| 0:41.0 | $30 million to expand the growth of the company and I'm |
| 0:44.6 | very proud to be working with them. With their sex-backed credit card and |
| 0:48.4 | mobile app coming, 2020 is going to be huge. And this is on top of their already market-leading crypto-back loans |
| 0:55.9 | and interest accounts for your Bitcoin, Ether and GUSD, which I am a customer for |
| 1:00.0 | and I've just received my latest month's interest. So as I said it's going to be a massive year for Blockfye. |
| 1:05.2 | If you are interested in finding out more about what they do, please do your own research and then |
| 1:09.7 | head over to Blockfye.com, which is B-L-O-C-F-I-I-com. And next up we have the best exchange in the world. You know who they are. The mighty |
| 1:19.8 | cracken. The only place I use to buy and sell Bitcoin and we have just crossed our first |
| 1:24.9 | anniversary of a cracken. They've been sponsoring the podcast for a year so a big |
| 1:28.9 | shout out and a massive thanks to Jesse for getting behind the show to support |
... |
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