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Mutatu

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Location: Dorset UK

See that Lawrence White is on the board. Is that the same Larry White who asked "who would you rather trust to run your currency a politician or an algorithm?"

Added later found it by coincidence

"Former US treasury secretary and economist Larry Summers has pleaded for the abolition of cash as well. He likewise argued that central bank policy rates are less effective if banks or consumer start hoarding cash instead of holding deposit money. Critics warn however that such debates only distract from the real problems of monetary policy.”

Posted on May 18, 2015 at 12:44 PM
Last Edited: May 19, 2015 at 11:32 AM

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• adam

  

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  Location: California, USA

  Got a note from a friend with decent instincts calling 21 the "master switch moment"

  I'm not sure if that's promising or ominous, any thoughts?

  Posted on May 19, 2015 at 5:40 AM
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• Mutatu

  

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  Adam I'm not knowledgeable enough to make an informed answer. A couple of questions I guess is; would 21 Inc if their technology works, could it pose a risk I.e. would they become a large miner? Is bitcoin grown up enough to handle the likes of Mr Summer coming across from the dark side?

  Posted on May 19, 2015 at 8:56 AM
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• adam

  

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  @mutatu Adam I'm not knowledgeable enough to make an informed answer. A couple of questions I guess is; would 21 Inc if their technology works, could it pose a risk I.e. would they become a large miner? Is bitcoin grown up enough to handle the likes of Mr Summer coming across from the dark side?

  We've got Peter Todd coming on this Thursday to talk about this.

  Posted on May 19, 2015 at 10:07 AM
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• adam

  

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  @adam

  @mutatu Adam I'm not knowledgeable enough to make an informed answer. A couple of questions I guess is; would 21 Inc if their technology works, could it pose a risk I.e. would they become a large miner? Is bitcoin grown up enough to handle the likes of Mr Summer coming across from the dark side?

  We've got Peter Todd coming on this Thursday to talk about this.

  Gavin Andresen just confirmed for Thursday as well

  Posted on May 20, 2015 at 6:19 AM
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• odolvlobo

  

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  My general feeling is that their business plan won't succeed (at least not on the first try) for the following reasons.

  1. They are asking people to pay $4 in electricity for every $1 in bitcoins that they receive. There will be other benefits, but they won't be enough.
  2. I could be wrong, but I don't see mining on a micro scale being competitive with mining on a larger scale.
  3. They will have to be deceptive or take advantage of ignorance in order to get around these issues in order to succeed.
  Posted on May 20, 2015 at 10:10 AM
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• frameLAlife

  

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  Location: Paducah, KY

  This will be an interesting week with those two guests. Can't wait to hear what they have to say. This whole 21 issue has way too many ??? to be able to say for sure how I feel.

  Posted on May 21, 2015 at 5:56 PM
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• adam

  

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  We actually didnt talk about 21 at all, it was all about block size. quite a good episode.

  I've got an interview request out to 21, once they're ready to talk we'll get into it otherwise its just adding more fuel to the hype fire.

  Posted on May 22, 2015 at 4:14 AM
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