Episode-2046- Cryptocurrency in the Real World ~ Who’s Using it and for What
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Bailey Reutzel is an independent freelance journalist covering the intersection of finance, culture and technology. She started writing about bitcoin in early 2013 for American Banker and PaymentsSource and has since become one of the leading journalists covering cryptocurrency, blockchain and everything in between for publications such CoinDesk and Digital Transactions.
Because of her expertise in the area, she has been asked to appear on various YouTube videos and podcasts discussing the industry, most recently on Boulder, Colorado’s local radio station KGNU for the Co-Op Power Hour.
Wanting to explore the interactions everyday people have with money, including this new evolution of money, Bailey headed out on a six-month, 48-state drive blogging project called Moneytripping in the summer of 2015, where she covered bitcoin and blockchain wherever she found it. The blog is currently being turned into a Gonzo-style novel on American politics, economics and culture.
Bailey joins us today to discuss “Cryptocurrency in the Real World: Who’s Using and For What?”
While blockchain hype continues to consume industries of all kinds, real-world applications for the technology have been hard to come by. Blockchain is a complex system that many thought could be stripped of its cryptocurrency feature, but it’s not quite that easy. And so bitcoin still remains the most used cryptocurrency, except only at the edges, in the gray areas where traditional financial services don’t play.
Yet, maybe ethereum could change some of that. Maybe ethereum with it’s more advanced blockchain on which smart contracts ride could democratize more than just payments, starting with more corporate processes than bitcoin’s consumer-facing mechanism seems to benefit. Today we discuss all of this and more.
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Blockchain technology is the future for a lot of applications that haven’t been developed as yet ! Every time I blink something new is popping up… I am amazed at what it already does with much much more to come. AND SOON ! The Ethereum platform is amazing !
I was wondering why none of your guests, our expert council member or you ever talk about litecoin? I think it is a great opportunity as of late and has not really seen the falls of ETH or BTC. Just wondering if you have any thoughts on this or if this could count as a question on one of your shows. Thanks from a fairly new listner -Duane
Don’t know if I was understanding her criticisms of the technology around the middle of the show.. Sounds like she is saying that it has problems for the bank system. But wasn’t it designed to replace the banking system? rather than work with it? Or am I misunderstanding what she was trying to say?
Frankly I think your seeing her limits on the her understanding of the technology, but yea sort of.
For instance, blockchain isn’t bitcoin but in my view blockchain was only invented because of bitcoin. Bitcoin is NOT FOR THE BANKERS it is to replace the bankers.
Sure things like Ripple may flirt with some sort of blockchain for the financial sector, but the core reason for blockchain is decentralization.
Now on the other hand the issues with blockchain, scaling, time, etc. Are all solvable with SOME centralization. IE data banks, data centers, etc.
The concept that everyone should have a full copy of the chain is just dumb! People seem to want to be able to carry the chain on a raspberry pi!
So long as anyone that want to maintain a full copy can, we are good to go. That is one of many realizations that need to set in on people to understand this.
Banks are looking at blockchain because they are afraid of it (and they should be) not because they like it or think it is a good idea.
Only one comment about the podcast and I appreciated you shifting away from the topic when it came up.
I shuddered near the end when she started talking about all the advantages she had in life because of the things the government did for her and provided her. And how that was one of the main reasons for her “success” in life so far.
It was a good reminder that “yes people do really think that” even in the crypto space.
To be fair to the “crypto space” what I thought I was getting here was a SME on crypto, what I got was instead a journalist interested in crypto. She doesn’t really use it, she doesn’t seem to really understand it. I figured this out early and let a lot of things go, like say here calling kratom (synthetic opium) sigh.
She went state by state to find people using crypto, seems cool but I would be 90% or more of crypto that is spent is spent online by two parties that never see one another and never think about each other ever again after the transaction, that is what crypto is really meant to do anyway.
Oh and the white privilege bullshit is a cancer for anyone going to college any more. My nephew who is a smart kid on a academic and baseball scholarship to a really great school is all about it now, two years in and he “hates white people because they are spoiled”.
Everyone is all trying to be understanding and calling it a phase, I just told him man you spend a lot of money time and effort in college and all they did was take a smart kid and turn him into a fucking retarded idiot.
Something tells me that is what these kids need to hear.
Man, did she really bring up white privilege??? AHHHHH, please kill me now. I listened to about a third of the episode and turned it off as she bored me and I could tell she was in over her head.
But then “white privilege”???
So, given what you said about your nephew Jack, I just went to each of my 4 kids and told them there is nothing to be ashamed about being white, nothing to be proud about either. But if someone says you have “white privilege” simply turn around and never talk to that person again.
I cant help but think these people are actually trying to create a large pro-White segment of society. Accusing people they don’t know of “white privilege” is a certain way to do it. They’re going to piss off a LOT of otherwise reasonable people if they keep this shit up.
I don’t often point to Paul Josef Watson but sometimes he nails it, this entire line of SJW loonly left nonsense is creating a big backlash!