Read_409 - 57 Varieties of Pyrite [Rusty Russell]

June 25, 2020 00:38:13
Read_409 - 57 Varieties of Pyrite [Rusty Russell]
Bitcoin Audible
Read_409 - 57 Varieties of Pyrite [Rusty Russell]

Jun 25 2020 | 00:38:13

/

Hosted By

Guy Swann

Show Notes

"Incentives have driven exchanges to become casinos, and they’re doing exactly what you’d expect unregulated casinos to do. This is no place you ever want to send anyone."  - Rusty Russell

A sobering and important reminder of the dangers that exchanges have come to pose for people new to the Bitcoin space. Rusty Russell writes a concise piece breaking down the incentives of the exchange market and the increasing risks they pose in hooking people with the promise they can buy Bitcoin, and trapping them in the cycle of chasing green candles on 57 varieties of crap.

From Rusty's excellent blog with many other great little thoughts, check out below for tons of other great insight and discussion:
https://rusty.ozlabs.org/

Looking for that Bitcoin only, no noise, long term place to send your friends to buy Bitcoin? SwanBitcoin.com/guy will get them $10 free to start off, and not even once try to convince them to buy XRP.

--- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

Other Episodes

Episode

March 06, 2018 00:19:14
Episode Cover

CryptoQuikRead_020 - There is a Bitcoin Patent War Going On

There is a Bitcoin Patent war going on that could have serious consequences for the entire industry and security assumptions of blockchain as a...

Listen

Episode

May 03, 2023 01:03:41
Episode Cover

Guy's Take #66 - Pooping in the Park

Bitcoin is a public good. The maintenance and stewardship of the network rests on the conviction and work of 10s or 100s of thousands...

Listen

Episode

May 16, 2024 01:59:30
Episode Cover

Chat_100 - Privacy is a Crime with Travis West

Today we dive into an amazing chat around the complexities and shifts in law enforcement in a world with Bitcoin, as well as breaking...

Listen