Sep 16, 2022
In this episode, we speak to Chris DeRose, software developer
and former co-host of the Bitcoin Uncensored podcast, about both
the downsides and upsides of cryptocurrencies and the associated
technologies. We took the time to dive deep into the subject with
Chris and learned about some of the common misconceptions about
blockchain technology, the value of cryptocurrencies to society,
ways in which the crypto space has evolved, using economic theories
to understand financial systems, the definition of money, what he
thinks about the associated technologies, the role blockchain
technology can have in society and why cryptocurrencies will not
replace the dollar.
Key Points From This Episode:
- The motivation behind Chris’s decision to get involved with
Bitcoin in 2010. (0:00:48)
- How the Bitcoin community has evolved since Chris got involved
in 2010. (0:03:00)
- Some of the common misconceptions associated with blockchain
- Whether new technologies pushing back against regulations is
- Ways in which Chris’s perception of crypto has changed since he
discovered it. (0:09:53)
- Chris explains what his definition of money is.
- Find out what Bitcoin actually is, if it is not money.
- Aspects of the current financial system that Bitcoin improves
- A discussion around the recent controversy regarding Canadian
trucker convoys. (0:17:54)
- Some of the problems anonymity associated with cryptocurrencies
- Why not being able to verify transactions is a problem for
privacy coins. (0:21:18)
- A discussion about the US monetary system and the US dollar.
- Chris discusses the reliance on economic theories to understand
the economy. (0:30:59)
- What he thinks about crypto markets through the lens of market
- Whether crypto markets can be manipulated or not.
- Why Chris thinks Bitcoin will not make traditional regulations
around payments obsolete. (0:35:32)
- Another discussion regarding the economy through a theoretical
- Reasons why Chris thinks cryptocurrencies have value.
- Chris explains what fungible value is.
- Why Bitcoin is regarded as digital gold.
- How possible it is for Bitcoin to replace the dollar.
- Chris tells us if he thinks Bitcoin and Ethereum are
- Why Chris thinks there is a mythical aspect to the economy.
- We find out if Chris thinks blockchains are immutable.
- Immutability: find out if this is a good aspect of
- An explanation of consensus and if proof of work alternatives
offer solutions. (1:04:33)
- Reasons why he thinks Vitalik Buterin is a charlatan.
- Chris tells us if Vitalik’s claims are living-up to the
- The role that blockchains can play regarding international
money transfers. (1:15:22)
- Outline of how ransomware could be beneficial to society.
- How possible is it to see nation-states existing only on the
- Learn what value private blockchains offer.
- What are the most promising crypto products/technologies in
Chris’s opinion. (1:19:49)
- The technical aspects of NFTs are explained.
- Find out what his opinion on DAOs is.
- Examples of the best application of smart contracts that Chris
has seen. (1:25:13)
- Whether cryptocurrencies and public blockchains are
revolutionary technology. (1:27:38)
- What role cryptocurrencies can play in reducing wealth
Links From Today’s Episode:
Rational Reminder on iTunes —
Rational Reminder Website — https://rationalreminder.ca/
Shop Merch — https://shop.rationalreminder.ca/
Join the Community — https://community.rationalreminder.ca/
Follow us on Twitter — https://twitter.com/RationalRemind
Follow us on Instagram — @rationalreminder
Benjamin on Twitter — https://twitter.com/benjaminwfelix
Cameron on Twitter — https://twitter.com/CameronPassmore
Chris DeRose — http://www.chrisderose.com