2012-09-26/BBC World Service (Audio)/Digital Currencies (~10:00 min)

[Spekulatius]

Synopsis: "Can online currencies solve some of the miseries of this material world? Bitcoin seems to the online currency of choice these days, although online security fears and allegations that it's a haven for money-laundering have undermined its reputation. We assess what bitcoin is with a British cyber-policeman, Mick Jameson, a Bitcoin currency dealer, Donald Norman of bitcoinconsultancy.com, and the Greek economist Yanis Varoufakis, who's now investigating the potential of online currencies with digital games-maker, Valve. Are these currencies safe and do they have a future?"

http://www.bbc.co.uk/programmes/p00y7fwb

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[hazek]

Could anyone summarize what was said?

[World]

I am listening now .

Banking  system doing absolutely terrible job

+1

[Stephen Gornick]

http://www.bbc.co.uk/programmes/p00y7fwb

The MP3 can be downloaded here:

 - http://downloads.bbc.co.uk/podcasts/worldservice/bizdaily/bizdaily_20120926-0920a.mp3

[julz]

Sounds like their expert has never used Bitcoin - let alone done basic research on it.
(or the host cut the interview so poorly that he's not responding to the points he appears to be)

...
host: So British cybercop Mick Jamieson specializes in internet fraud, and he cites *numerous* examples of dodgy people using Bitcoins to hide their dodgy activities

M Jamieson: It's filed under an account number and the account number is obviously then referenced to your registration details.
Of course registering for a bank, you would be... Mr Jamieson.. you would give your address.. something like that.
*This*; you give your email address and you give them your IP address.. and any other details they wish you to volunteer.. whether they be true or false.. but of course, they don't require the person to go in with a passport or a driving license or proof of identification or financial history.

host: So basically, you're saying criminals are all using it.

M Jamieson: I think when it comes to the really high level drug traffickers - they trust cash. But yes, any transfer or any transaction which takes place in an environment where people are using details to keep them anonymous, makes it harder for law enforcement.  It's obvious.

host: But are digital currencies really such a bad thing? ...

host: There's about 10 Billion dollars of Bitcoin in circulation at the moment

really!?  I wish!  

host: Theoretically, I suppose, the dreamers have.. have imagined we could one day develop currencies that somehow bypass central banks in the same way that the the internet itself seems to revolutionize commerce. That that an online currency could could bypass the men, the men in grey suits who've controlled everything up til now.

Hmm.. yes.. perhaps one day someone will invent... Bitcoin!  :/

[Spekulatius]

C'mon, cut the old man a slack!

The host obviously created a suspense curve here, where he first talked about the dangers, but eventually in the second part of the interview came around and talked about the positive things bitcoin does with te other two guests: Donald Norman of bitcoinconsultancy.com, and the Greek economist Yanis Varoufakis.

[cypherdoc]

used by Syrian Rebels?

[Realpra]

Yanis Varoufakis, who's now investigating the potential of online currencies with digital games-maker, Valve

Dude fuck the rest of this news; if VALVE is looking into Bitcoin that is amazing.

The crowd on steam is both computer-versed and often, as gamers, used to digital in-game currencies traded elsewhere. Steam alone must be like a billion dollar market place - 10 times Bitcoins entire current value.

This is huge and even more amazing it might be for real since the Bitcoin community is probably full of gamers which might sway Valve to actually take that risk.

[Stephen Gornick]

My full transcription which I also posted earlier on reddit.com/r/bitcoin:

Thanks for doing this.  From having tried to create transcripts of excepts of audio, i appreciate how much effort it really is to do something like this.  Something that takes 3 minutes to listen to could take ten times that to get transcribed to text accurately ... it isn't just as simple as typing out the words that you are listening to.

[Spekulatius]

My full transcription which I also posted earlier...

Thanks, but WHY?

[beckspace]

My full transcription which I also posted earlier on reddit.com/r/bitcoin:

Thanks for doing this.  From having tried to create transcripts of excepts of audio, i appreciate how much effort it really is to do something like this.  Something that takes 3 minutes to listen to could take ten times that to get transcribed to text accurately ... it isn't just as simple as typing out the words that you are listening to.

+1

My full transcription which I also posted earlier...

Thanks, but WHY?

I consider a transcript very valuable:

- To search for keywords in text form (google etc.);
- To some people, reading is faster than listening.

I think the best interviews should be transcripted (or only the juicy parts).

[World]

Digital currency: Brave new world or criminal haven?
http://www.bbc.co.uk/news/business-19785935

[Dusty]

I consider a transcript very valuable:

- To search for keywords in text form (google etc.);
- To some people, reading is faster than listening.

+1

Also, some people does not understand spoken english as well as written one.

Thanks *very* much for the transcript.