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Title: 2013-04-18 Jeff Berwick and Jay Taylor: A world-changing future for Bitcoin Post by: n8rwJeTt8TrrLKPa55eU on April 21, 2013, 05:09:05 PM Half hour video interview.
Quote Jeff Berwick in Acapulco, Mexico is interviewed by Jay Taylor on Turning Hard Times into Good Times. Topics discussed: - The Bitcoin ATM - The collapse of the financial system - Bitcoin mining - The creator of Bitcoin - The definition of Anarchy - The future of Bitcoin http://www.youtube.com/watch?v=6pZmCn-5i58 Title: Re: 2013-04-18 Jeff Berwick and Jay Taylor: A world-changing future for Bitcoin Post by: cypherdoc on April 22, 2013, 01:31:04 AM Berwick has a fundamental misunderstanding about what mining is.
while technically nothing about what he said is incorrect, it would be much easier to understand by listeners if he explained mining as accounting. each miner is actually verifying the blockchain ledger tx's and getting paid for that accounting work via the block reward. the fundamental difference is that it's work not speculating. |