BREAKDOWN: Why the Bitcoin and Crypto Communities Are So Skeptical of Worldcoin

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4.7 • 698 Ratings

🗓️ 22 October 2021

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Here’s why the wildly ambitious project is triggering so many people. This episode is sponsored by NYDIG. Today’s episode is nominally about Worldcoin. The project launched this week with ambitions to airdrop a new cryptocurrency on everyone in the world. To do so, it’s using biometric eye scanning to identify people and the entire cryptosphere – bitcoiners, ethereans and beyond – are sort of not having it. NLW gives the context and background of Silicon Valley’s history with bitcoin and crypto in order to help explain the reaction to Worldcoin. Featuring Dan Held “Why Silicon Valley Doesn’t Get Bitcoin.” - NYDIG, the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW. - “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Klaus Vedfelt/DigitalVision/Getty Images, modified by CoinDesk. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:40.8	Start your free 30-day trial at audible.com slash Wondery UK.
0:45.6	That's audible.com slash Wondery UK.
0:53.8	Welcome back to The Breakdown with me, NLW.
0:59.0	It's a daily podcast on macro, Bitcoin, and the big-picture power shifts remaking our world.
1:05.9	The breakdown is sponsored by Nidig and produced and distributed by CoinDesk.
1:12.3	What's going on, guys? It is Friday, October 22nd. And today we are talking about one of the most
1:18.9	skepticism-raising announcements that I've seen in some time. I'm speaking, of course, about
1:25.6	WorldCoin. And anyone who spent any time on Bitcoin or
1:29.4	crypto Twitter in the last 24 hours will know that the crypto community, and not just Bitcoiners,
1:34.9	but the crypto community writ large, does not like what they perceive to be a privacy-invasive
1:40.7	Silicon Valley-backed project. I'm going to both try to contextualize those feelings,
1:46.1	as well as give WorldCoyne a fair shake at an analysis from the standpoint of what strikes me as
1:51.5	good, what strikes me as not so good, and what strikes me as just the stakes of how things happen
	...

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