Lawfare Archive: Nick Weaver on Why You Should Sell Your Bitcoin
The Lawfare Podcast
The Lawfare Institute
4.7 • 6.4K Ratings
🗓️ 12 February 2022
⏱️ 49 minutes
🧾️ Download transcript
Summary
From January 9, 2016: This week we have Nick Weaver on the show. Nick's a regular Lawfare contributor, senior staff researcher at the International Computer Science Institute in Berkeley, California, and as you’ll see, quite the Bitcoin skeptic. Nick walks Ben through what exactly Bitcoin is, answering whether the platform is really a financial opportunity of historic proportions, the massive criminal problem law enforcement officials have suggested, or something else entirely: a waste of everyone's time and money. He also outlines some of the design flaws he sees in Bitcoin and why those flaws, which many in the Bitcoin community view as important features, will actually lead to the platform’s eventual downfall.
It’s a discussion of Ponzi schemes, the limits of the blockchain, and the future of international currency transactions.
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Transcript
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| 0:18.0 | Also, check out LawFair's other podcast offerings, |
| 0:22.0 | rational security, chatter, law fair no bull, and the aftermath. |
| 0:34.0 | Hey folks, it's Mark here from WTF with Mark Marin. |
| 0:37.0 | And my podcast is currently being sponsored by Amazon ads. |
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| 1:21.0 | I'm Katherine Pumplio with an episode from the Law Fair Archive for February 12, 2022. |
| 1:36.0 | This week, the Justice Department sees over $3.6 billion worth of digital currency allegedly stolen during a hack of a cryptocurrency exchange |
| 1:43.0 | in 2016. |
| 1:45.0 | During the hack, almost 120,000 Bitcoin was stolen from the platform BitFinex. |
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