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Author Topic: [Podcast] NPR's Planet Money - The Tuesday Podcast: Bitcoin  (Read 1980 times)
BitcoinPorn
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July 13, 2011, 01:42:17 AM
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Bitcoin is a new kind of currency. But unlike, say, the dollar or the yen, it's not backed by any government. Also, you can't hold it in your hand or put it in your pocket; it exists only on computers.

Bitcoin is supposed to be cash for the Internet age — anonymous money that anyone can use without using a credit card or going through a bank.

On today's Planet Money, we try to get our hands on a few bitcoins, which turns out to be harder than it sounds.

We dig into some basic questions that come up when you're creating a new currency from scratch.

And we buy lunch.

Listen http://www.npr.org/player/v2/mediaPlayer.html?action=1&t=1&islist=false&id=137795648&m=137803856 21min 53sec
Subscribe to the podcast http://www.npr.org/rss/podcast/podcast_detail.php?siteId=94411890
Thanks to http://www.reddit.com/r/Bitcoin/comments/inzsr/npr_planet_money_podcast_about_bitcoin/

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July 13, 2011, 02:03:17 AM
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wow bruce you keeping that much cash on mybitcoin.com... jeez.. oh wait that wasn't yours.. shh. lol

Other than that great show.
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July 13, 2011, 03:01:12 AM
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Transcript?

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BitcoinPorn
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July 13, 2011, 03:29:21 AM
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Transcript?

“Gavin Andresen: Short of some fundamental flaw found in the core Bitcoin system, it’s hard to think of another combination of events that would shake trust in the currency any more.  Yet still people are still buying and selling bitcoins.  It appears that it hasn’t killed bitcoin.”

“Jacob: I have to say this part of the whole Bitcoin thing for us did seem really easy.  Easier than using a credit card or wiring a friend some money”.


“We called Ronald Mann, professor at Columbia law school, and he said [Bitcoin] is legal.

Ronald Mann: I see its future as a real currency as being very limited.  [In five years] I think bitcoin won’t exist”.

Excerpt from http://www.bitcoinnews.com/post/7553436210/planet-money-bitcoin-podcast

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July 13, 2011, 04:06:06 AM
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I think it was a good show, as is usually the case with the Planet Money team.

At 16:40 into the podcast they talked to Professor Ronald Mann of Columbia Law School who said that it is legal... for now, but also said:

Quote
The government could decide that bitcoin is basically being used to buy illegal stuff, like drugs or child pornography.  And in that case the
government could try and shut down bitcoin on those grounds.

If you put something out on the Internet as a payment system, and you make it available to people, what you have to observe as a regulator is what are the things it is useful for.  OK.  And if its main attraction is it is wholly anonymous -- that's not something that ordinary consumers care about.  The main people that are really excited about a wholly anonymous payment system are people that are violating the law.
He also doesn't think it will take off, and will die within a few years.

I suggest making comments on that podcast entry about the many other attractions of bitcoin, or at least voting up ones you agree with.
  http://www.npr.org/blogs/money/2011/07/12/137795648/the-tuesday-podcast-bitcoin

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July 13, 2011, 04:40:22 AM
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That was a good podcast.  I love planet money.  I knew they'd give Bitcoin a fair shake.  I wonder about the guy saying bitcoin wouldn't exist.  The only scenario I see bitcoin not existing in is if it is supplanted by an alternate peer to peer currency.  Maybe it never grows any larger than it is now, but I don't see a massive contraction. 

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July 13, 2011, 04:41:19 AM
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I'm amazed at how certain some people seem to be that bitcoin will fail.

(gasteve on IRC) Does your website accept cash? https://bitpay.com
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July 13, 2011, 04:54:58 AM
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I'm speculative of Bitcoin right now, simply due to all the speculators! The speculators and bashers will cause the real consumer to back away, and what will remain is folks like those at "Silk Road".

We need Bitcoin to get some positive media coverage - but it's going to be hard in a world with governments controlling it.
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July 13, 2011, 05:46:10 AM
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I'm amazed at how certain some people seem to be that bitcoin will fail.

A Columbia professor thinks Bitcoin will fail. I'm not surprised.

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July 13, 2011, 07:37:23 AM
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I'm amazed at how certain some people seem to be that bitcoin will fail.

A Columbia professor thinks Bitcoin will fail. I'm not surprised.

I'm not surprised either. In fact, it gives me even more confidence. We're talking about the same 'ivory tower' factory (in principle, not literally) that produced the current failing monetary policies in place now. I've also noticed that the older generation over 50 has a hard time understanding bitcoin, much less supporting it.

Glad to see NPR doing a even-handed job on the story.

fortitudinem multis - catenum regit omnia
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July 13, 2011, 04:44:29 PM
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Yeah, you're either "with us" or "against us", right? Sheesh.


I'm amazed at how certain some people seem to be that bitcoin will fail.

A Columbia professor thinks Bitcoin will fail. I'm not surprised.

I'm not surprised either. In fact, it gives me even more confidence. We're talking about the same 'ivory tower' factory (in principle, not literally) that produced the current failing monetary policies in place now. I've also noticed that the older generation over 50 has a hard time understanding bitcoin, much less supporting it.

Glad to see NPR doing a even-handed job on the story.


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July 13, 2011, 05:18:25 PM
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I'm amazed at how certain some people seem to be that bitcoin will fail.
I'm amazed at how certain some people seem to be that bitcoin will succeed.

It's a new currency, will it take off, and succeed with a large number of people? I'd like it to, but I don't know if it will. I think it's likely to succeed, simply for the hyper-low/no-fees transactions, and the anonymity that you can have with it.
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July 13, 2011, 07:11:05 PM
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I'm amazed at how certain some people seem to be that bitcoin will fail.
I'm amazed at how certain some people seem to be that bitcoin will succeed.

It's a new currency, will it take off, and succeed with a large number of people? I'd like it to, but I don't know if it will. I think it's likely to succeed, simply for the hyper-low/no-fees transactions, and the anonymity that you can have with it.

But.... you're from the future!

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July 13, 2011, 08:14:08 PM
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Wow, someone in the Bitcoin Show office has a loooooot of Bitcoins!  Close to half million dollars?!!!  Just listened to the podcast, it's pretty good and accurate.
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July 13, 2011, 08:57:57 PM
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Wow, someone in the Bitcoin Show office has a loooooot of Bitcoins!  Close to half million dollars?!!!  Just listened to the podcast, it's pretty good and accurate.

Not for long, if they keep forgetting to log out of mybitcoin on other peoples' computers.
Bitcoin Swami
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July 13, 2011, 09:03:10 PM
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Wow, someone in the Bitcoin Show office has a loooooot of Bitcoins!  Close to half million dollars?!!!  Just listened to the podcast, it's pretty good and accurate.

Not for long, if they keep forgetting to log out of mybitcoin on other peoples' computers.

Having a half mil on mybitcoin is complete insanity.
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July 13, 2011, 09:04:58 PM
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Were those allinvain's 25,000 Bitcoin???

Man From The Future
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July 13, 2011, 09:17:30 PM
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I'm amazed at how certain some people seem to be that bitcoin will fail.
I'm amazed at how certain some people seem to be that bitcoin will succeed.

It's a new currency, will it take off, and succeed with a large number of people? I'd like it to, but I don't know if it will. I think it's likely to succeed, simply for the hyper-low/no-fees transactions, and the anonymity that you can have with it.

But.... you're from the future!
I can't go around causing loops in the space-time continuum, now, can I? Cheesy
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July 14, 2011, 12:33:56 AM
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Having a half mil on mybitcoin is complete insanity.

not if you own mybitcoin, I imagine.

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Bitcoin Swami
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July 14, 2011, 12:48:39 AM
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Having a half mil on mybitcoin is complete insanity.

not if you own mybitcoin, I imagine.

Are you saying someone at the bitcoin show owns mybitcoin?
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