LTB!: 'Be Your Own Bank' and the 'Luxury of Apathy'
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 7 June 2020
⏱️ 51 minutes
🧾️ Download transcript
Summary
'The best Sundays are for long reads and deep conversations. Recently the hosts of the Let's Talk Bitcoin! Show gathered to discuss the systemically important "Be Your Own Bank" Bitcoin narrative and what it means around the world today.
The episode is sponsored by eToro.com and The Internet of Money Vol. 3
On today's episode of Let's Talk Bitcoin! you're invited to join Andreas M. Antonopoulos, Adam B. Levine, Jonathan Mohan and Stephanie Murpy for an in-depth discussion about the ups and downs, the good and the bad about being your own bank in the modern world of Bitcoin.
The powerful idea and meme at the core of Bitcoin self-sovereignty is incredibly empowering but has an unspoken element that requires persistent competence and at least for some makes it more trouble than it's worth.
As the world reels from the response to COVID-19 and disorder seems the trend on the rise, we discuss how although Bitcoin makes it possible for anyone to be their own bank, who actually wants the constant vigilance and anxiety that goes along with it? And what happens when things go wrong and there's no-one to blame but ourselves?
"...There is tremendous luxury in having institutions that at least appear to be stable over some period of time where you don't need to worry about the details of how they work and what happens under failure conditions. That luxury is pretty concentrated in just a few places in the world and at some point you can't afford that luxury of apathy. - Andreas M. Antonopoulos, LTB! #437
Credits
This episode of Let's Talk Bitcoin features Stephanie Murphy, Jonathan Mohan, Andreas M. Antonopoulos and Adam B. Levine. Music provided by Jared Rubens, FromEther and Adam B. Levine, with editing by Jonas.
Photo by Pathdoc on Shutterstock
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Transcript
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| 0:49.6 | Up until mid-February 2020, the American subculture of preppers were a bunch of paranoid idiots. |
| 1:01.4 | Now they're geniuses. |
| 1:04.3 | And so that kind of vindication can also happen in financial affairs. |
| 1:09.7 | The be your own bank subculture in crypto is a bunch of paranoid idiots for now. |
| 1:22.2 | On today's show, we'll discuss one of the most important narratives in Bitcoin, the idea of being your own bank. |
| 1:28.2 | And while it's a powerful idea, and practice, it's not that simple. |
| 1:32.3 | Today's episode is sponsored by etorro.com. Let's Talk Bitcoin is owned by the host and |
| 1:36.2 | editorially independent, but you can find new episodes every Sunday on the CoinDesk podcast network |
| 1:40.0 | at CoinDest.com. The LTV network at Let's TalkBitcoin.com, and on our privately managed show-only |
| 1:45.0 | subscriber feed at LTV show.com. With all of that said, I'd like to welcome you to this episode |
| 1:50.2 | of Let's Talk Bitcoin. My name is Adam B. Levine, and today I'm joined by the other hosts of the show, |
| 1:54.9 | Stephanie Murphy. Hi. Jonathan Mohan. Hey, hey. and Andreas M. Antonopoulos. |
... |
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