Lets Talk Bitcoin Episode 008 - "Our Bright Future I"

[internationalaw]

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Hosts:
Adam B. Levine
Stephanie Murphy,PhD
Andreas M.
Antonopoulos

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Our Bright Future I

• Taxes for Miners
• Corporate Involvement for Good or Evil
• Historical Context and Futures Market with New Correspondent Asif Punjwani
• Petitions, Government, and Our Bright Future
• Bad Actors on the Blockchain - Busting Myths & Rumors

[noedaRDH]

Awesome as always!

[internationalaw]

Thank you! We appreciate you listening.

[waxwing]

There seemed to be some serious confusion in the description of futures contracts. Not all futures contracts are settled into the underlying security. Some are settled in cash (see http://www.wikinvest.com/wiki/Cash_settlement). This could of course be done for BTC futures, here using USD as "cash".

Also the statement that futures don't seem to be usable or useful because "the miner doesn't know what the value of his BTC will be in the future" (something along those lines, don't remember exact quote) misses the point completely - it's exactly *because* someone doesn't know the future price of an instrument that they find utility in a futures contract! This is called "hedging".

There is absolutely no reason not to have futures contracts, or indeed any other derivative contracts, for BTC. I believe icbit.se is already doing this. However, let's not forget that we are talking about *contracts*, and so there are the normal problems of trusted third parties and centralization. The Bitcoin currency itself does not change any of that, and never intended to, but the use of smart contract, smart property, escrow type ideas (obviously envisioned in the Bitcoin software but not really implemented yet) may change it in the future.

[penetration]

Would like to hear some tax specialists knowledgeable on bitcoin profits throw some advice, rather than the same hosts who aren't specialized in this complex field!

[internationalaw]

Would like to hear some tax specialists knowledgeable on bitcoin profits throw some advice, rather than the same hosts who aren't specialized in this complex field!

We could definitely look into speaking with a tax specialists on the subject of bitcoin. There are not many (tax specialists) at the moment who specialize in bitcoin, but there should be more and more in the near future.

[noedaRDH]

You guys should get ahold of Mr. Ted Nelson, who proposes he knows who Satoshi is. Maybe have an episode just devoted to the subject of identity of Satoshi (or "Satoshis [plural]).

http://www.youtube.com/watch?feature=player_embedded&v=emDJTGTrEm0

[clowe]

Love this show, been listening since episode 1, but please try and not drift too far off topic, e.g. the debate about whether the US government spends taxes wisely or not.

Keep up the great work though.