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The Peter McCormack Show

Bitcoin Will Always Change with Junseth - WBD682

The Peter McCormack Show

Peter McCormack

Politics, Society, Markets, News, Society & Culture, Technology, Inflation, Finance, Economics, Government, Power, Bitcoin, Money

4.72.8K Ratings

🗓️ 12 July 2023

⏱️ 68 minutes

🧾️ Download transcript

Summary

Junseth is an OG Bitcoiner and the former co-host of Bitcoin Uncensored. In this wide ranging interview, we discuss Bitcoin volatility and it's repetitive cycles, the ossification of the Bitcoin protocol and the current state of development, Bitcoin anonymity and privacy, the profitability of mining, and Bitcoin's future as an alternative to traditional money in a world of global collapse.

- - - -

Bitcoin's development over the past 14 years has been both phenomenal and revelatory. Apart from Hal Finney, nobody saw its significant influence on the energy sector. Furthermore, nobody foresaw the impact of ordinals. That's why, as we contemplate the potential for Bitcoin to enter a new and significant bull market cycle, questions as to what Bitcoin is and will become are as fascinating as at any time since its launch in January 2009.

The debates over the protocol's conservative development are as impassioned as ever. Questions over the persistence of Bitcoin's price cycles continue to produce significant amounts of content. The complex challenges of maintaining privacy, and the associated misconceptions of average users, endure. The resilient strength of the mining industry never ceases to amaze.

However, the bigger picture is still focused on the singular issue of the basic right to transact. The traditional notion of currency control places the state as the arbiter of money. Yet, the past decade has witnessed central banks exerting ever greater control of financial systems and the weaponisation of money by the state. Bitcoin was designed as a vital alternative as trust in traditional processes erodes.

Given its power to disintermediate powerful centralised institutions, the primary concern of Bitcoiners is whether governments will seek to control, limit or ban it. Bitcoiners believe that the state's regulation of money should be limited, allowing individuals to freely hold and transact any form of currency. Further, these rights should be codified into a Second Amendment right to hold Bitcoin. We're back to the cypherpunk philosophy: freedom to transact is freedom of speech.

This episode's sponsors:

Iris Energy - Bitcoin Mining. Done Sustainably Ledn - Financial services for Bitcoin hodlers Bitcasino - The Future of Gaming is here Ledger - State of the art Bitcoin hardware wallet Wasabi Wallet - Privacy by default Unchained - Secure your bitcoin with confidence


Hosted on Acast. See acast.com/privacy for more information.

Transcript

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0:00.0

All of the value in these other chains, all of the value in these other chains,

0:07.0

all of the value in these businesses and everything else surrounding crypto generally it's it's not existent it's going to

0:15.8

disappear and I guess it in our benefit and that all of that value eventually flows

0:21.0

back into our project it just takes so long.

0:24.0

Hello from Nashville and thank you to everyone who came out of our life

0:28.0

then last night. It was wicked. We had Preston Pish and Nowdell,

0:31.0

we're going to hold a whole bunch of stuff, including Black Rock. We're going to get that show released.

0:35.0

But anyway, welcome to the What Bitcoin did podcast, which is brought to you by Iris Energy,

0:40.0

the largest and Aztec listed Bitcoin miner using 100% renewable energy.

0:44.1

I'm your host Peter McCormack and we got our crazy friend Junza back on the show.

0:48.4

Now this was the last one we made out in Miami, we got under a whole bunch of stuff,

0:52.3

ordinals, Bitcoin cycles, you know what

0:55.2

it's like with John Seth.

0:56.2

We just cover all the latest stuff, so it was a great show.

0:58.0

We also got a bit of singing out of him, as ever.

1:01.1

I think I'd have him sing at my wedding if I ever got married again.

1:03.7

Anyway I know you're gonna love this. If you've got any questions about this or anything else,

1:07.2

you can drop me in email, tell what Bitcoin did.com.

1:10.0

Yeah, oh there we go, That's better. It's the best sound checks in the business Danny.

1:17.0

And then for the times when we're apart Peter.

1:28.0

Well then close your eyes and know these words are coming

1:34.0

from my heart and then if you can remember

...

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