Nick walks Ben through what exactly Bitcoin is, answering whether the platform is really a financial opportunity of historic proportions, the massive criminal problem law enforcement officials have suggested, or something else entirely: a waste of everyone’s time and money. He also outlines some of the design flaws he sees in Bitcoin and why those flaws, which many in the Bitcoin community view as important features, will actually lead to the platform’s eventual downfall.
It’s a discussion of Ponzi schemes, the limits of the blockchain, and the future of international currency transactions.
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