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 technology. (0:06:03) Whether new technologies pushing back against regulations is common. (0:08:08) 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. (0:11:19) Find out what Bitcoin actually is, if it is not money. (0:14:39) Aspects of the current financial system that Bitcoin improves on. (0:16:42) A discussion around the recent controversy regarding Canadian trucker convoys. (0:17:54) Some of the problems anonymity associated with cryptocurrencies causes. (0:20:33) 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. (0:24:12) 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 efficiency. (0:32:26) Whether crypto markets can be manipulated or not. (0:33:49) Why Chris thinks Bitcoin will not make traditional regulations around payments obsolete. (0:35:32) Another discussion regarding the economy through a theoretical lens. (0:39:15) Reasons why Chris thinks cryptocurrencies have value. (0:40:32) Chris explains what fungible value is. (0:45:49) Why Bitcoin is regarded as digital gold. (0:49:25) How possible it is for Bitcoin to replace the dollar. (0:50:46) Chris tells us if he thinks Bitcoin and Ethereum are (0:53:39) Why Chris thinks there is a mythical aspect to the economy. (1:00:49) We find out if Chris thinks blockchains are immutable. (1:02:29) Immutability: find out if this is a good aspect of cryptocurrencies. (1:03:37) An explanation of consensus and if proof of work alternatives offer solutions. (1:04:33) Reasons why he thinks Vitalik Buterin is a charlatan. (1:09:22) Chris tells us if Vitalik's claims are living-up to the expectations. (1:12:41) The role that blockchains can play regarding international money transfers. (1:15:22) Outline of how ransomware could be beneficial to society. (1:16:20) How possible is it to see nation-states existing only on the blockchain. (1:17:43) Learn what value private blockchains offer. (1:18:37) What are the most promising crypto products/technologies in Chris's opinion. (1:19:49) The technical aspects of NFTs are explained. (1:21:23) Find out what his opinion on DAOs is. (1:24:20) 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 inequality. (1:28:35) Links From Today's Episode: Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. 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

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“What did the council decide on item 42?” — answered with the speaker and the moment.