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CRYPTO 101

Ep. 253 - Step into the Litecoin: Why PoW Mining Rewards Halve, with Franklyn Richards

CRYPTO 101

Bryce Paul & Brendan Viehman

News, Business, Investing, Business News, Tech News

4.3841 Ratings

🗓️ 5 August 2019

⏱️ 33 minutes

🧾️ Download transcript

Summary

Today is the Litecoin Halving, where block rewards are decreased from 25 to 12.5 LTC every block (~roughly every 2.5 minutes). This is a crucial event that algorithmically happens every 4 years and is a key part of the monetary policy behind cryptocurrencies. Today we are joined by Franklyn Richards of the Litecoin Foundation. CRYPTO 101 dives into the Litecoin Halving, miner incentives and game theory around events like the halving, fundamental cryptoeconomics, the future of Proof of Work, the future of Litecoin and so much more. My one word of advice today: get out a pen and paper, take some notes, and re-listen to this crucial episode. Guest Links: https://twitter.com/ltcfoundation https://twitter.com/franklyncrypto Show Links: CRYPTO101podcast.com Patreon: www.patreon.com/user?u=8429526 Twitter: twitter.com/Crypto101Pod twitter.com/BrycePaul101 twitter.com/PizzaMind www.instagram.com/crypto_101 Facebook: https://www.facebook.com/groups/101Crypto/ https://www.facebook.com/CRYPTO101Podcast/ **THIS IS NOT FINANCIAL OR LEGAL ADVICE** © Copyright 2019 Boardwalk Flock, LLC All Rights Reserved Our Sponsors: * Check out Mars Men: https://mengotomars.com * Check out NPR: https://npr.org * Check out Quince and use my code quince.com/crypto101 for a great deal: https://www.quince.com * Check out Scribe and use my code Scribe.how/CRYPTO101 for a great deal: https://scribe.com/Crypto101 * Check out Shopify and use my code shopify.com/crypto101 for a great deal: https://www.shopify.com Advertising Inquiries: https://redcircle.com/brands Privacy & Opt-Out: https://redcircle.com/privacy

Transcript

Click on a timestamp to play from that location

0:00.0

What is up?

0:13.9

It's Bryce and Pizza Mind here for a very special episode,

0:17.7

and this is what I call a once-in-a-blue moon episode.

0:20.4

This is as rare as any clips

0:22.3

when you see the light in the sky suddenly disappear for just a moment, or in this case,

0:27.1

light coin's block rewards are having today, drastically reducing the amount of LTC's supply on

0:34.0

the market. What does this actually mean? Today we are joined by Franklin Richards of the Lightcoin Foundation.

0:41.1

And we're going to talk about minor incentives and game theory around events like the

0:45.3

having, fundamental crypto economics, the future of proof of work, the future of

0:49.8

light coin, and just so much more.

0:52.3

My only word of advice for today is to please get out a pen and paper, take some notes, and re-listen to this episode because we're about to cover a lot.

1:01.2

Franklin has been in the crypto space since 2013 and sees things from a broader perspective than most.

1:07.5

He is a heavyweight intellectual with insights into both tech and finance. He's routinely

1:12.5

on stage educating conference goers around the world. Today, he joins us on Crypto 101.

1:18.2

Franklin, welcome to the show. Thank you for having me on. It's good to be able to chat about

1:22.6

stuff. Yeah, we got a very exciting day happening here. So right now it's Sunday at 11.07 a.m. Pacific time.

1:32.5

And in under 24 hours is one of the most significant events in the history of light coin. And that's called the having. And so we're going to get into what the having is, why it's important, how it started,

1:46.5

what this all means to you, to me, to the viewers here at Crypto 101. But before we get into

1:53.7

the really, really juicy stuff, we want to get to know who the heck you are. So, Franklin,

1:59.0

tell us how'd you come into contact with the Lightcoin Foundation,

2:02.1

how'd you get involved there? And what were you doing before crypto?

2:05.6

Yeah. So before crypto, I was actually in school. So I'm quite young in this space. And I had

...

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