Dec 2nd from NYC: This was a very good episode where we dive deep into important topics. Here is the TLDR:
1. Coinbase vs IRS Round II – I continue to say “I told you so” and explain that the outrage towards Coinbase is unwarranted. Between their KYC requirements and the horrendous law IRS put on the books for Bitcoin users in the US it should have been obvious any user is assumed to be Federally guilty of Tax Evasion until they prove themselves innocent. Since the technology is not really there for any random citizen to prove themselves innocent to people that probably do not even understand how bitcoin works, ANY user of Bitcoin user who is also a US Citizen is putting himself at great legal risk. You also get what you pay for. Buying Bitcoin in the street paying a 10% premium for anonymity will greatly reduce this IRS risk vs only paying 1% from the comfort of your own home via Coinbase.
2. Latin America – There are great reason for why bitcoin is used in Latin America, but talking about it brakes rules #1 & #2 of Fightclub. I’m disappointed & a bit worried about Rodrigo for going public.
http://reason.com/archives/2016/11/28/the-secret-dangerous-world-of
http://reason.com/blog/2016/11/30/rodrigo-souza-bitcoin-venezuela-brazil
3. San Fran Muni Transportation System Hacked – We should all be thankful for CryptoLocker in a way, they are educating people on Internet security & why you need bitcoin. They also have a very helpful support staff that will teach you to acquire bitcoins :).
BONUS: I make a case how mining can be sustainable and decentralized after the new bitcoin creation subsidy ends and most fees are captured by layer 2 protocols like Lightning.