OG Bitcoiner Delivers Massive Rant on Current State of Crypto – YMB Podcast E265

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This is episode 265 of You, Me, and BTC – your liberty and Bitcoin podcast.

Look, you know we’re not huge fans of CoinDesk nor fans of clicky headlines. But this one got me, hook, line, and sinker:

Enough with the ICO-Me-So-Horny-Get-Rich-Quick-Lambo Crypto

And honestly, it’s a pretty good article (probably because CoinDesk didn’t really write it). It’s a letter from an OG Bitcoiner who is clearly fed up with the way cryptocurrency turned out. They asked him to reflect on Bitcoin’s 10th anniversary so he spilled a ton. And we need to talk about it.

He’s not the only one who thinks crypto fell short of its goals and we need to decide if we agree. It’s certainly true that AML, KYC, and related regulations have wrecked some parts of the industry. But does Bitcoin still let people slip though the cracks? While companies like Coinbase are clearly compromised, can people still use Bitcoin privately and profitably?

Then of course, there’s the crypto community. It’s no secret that lot’s of groups hate each other and lots of groups worship certain people or ideas. Is that dangerous? Does it mean Bitcoin failed to promote open and free minds?

Then later in the show, we’ll touch on a bit of news that may be a result of crypto’s failings. AMD’s stock plummeted because people stopped buying graphics cards to mine altcoins. Is this a bad sign?

Listen, this is gonna be one helluva show. Tune in for all the fun tonight at 9PM Eastern and check the list below for some of the specific stuff we’ll cover!

Your hosts this week are Daniel Brown, Tim Baker, and Zack Voell. Don’t forget to scroll down so you can share your thoughts in the comments!

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