Bestselling author, David Gerard, goes in-depth into a seemingly harmless idea that has wreaked havoc on the hard drive market.The creator of the highly successful file-sharing software, Bram Cohen, gains new notoriety with his latest invention in the blockchain space. Chia is a mining-based distributed system, much like Bitcoin, but with a seemingly positive new contribution. Rather than wasting the electric capacity of Iceland, Chia purports to be the eco-friendly solution. With a reward system enticing to any consumer with a computer or a phone, it seems too good to be true. David Gerard talks proof of work vs proof waste, Tether, NFTs, crypto-investors' psychology and the blockchain industry as a whole.Much of this interview talks about his 2017 book, "Attack of the 50 Foot Blockchain", a bestseller that brought much needed skepticism towards crypto. His latest book. "Libra Shrugged", details the attempt of Facebook to try to take over money. Both are available on Amazon.Find more from David Gerard:https://davidgerard.co.uk/blockchain/ https://davidgerard.co.uk/blockchain/book/ Follow him on Twitter:@davidgerardhttps://twitter.com/davidgerard His recent blog on Chia:https://davidgerard.co.uk/blockchain/2021/05/23/foreign-policy-chia-is-a-new-way-to-waste-resources-for-cryptocurrency/Want to come on the podcast? Reach out to me at firstname.lastname@example.orgSpecial thanks to the r/buttcoin community for encouraging skeptical inquiry. And special thanks to @Bitfinexed, my good friends Robin and Gavin, @CasPiancey and another big thanks to David for a great read and a great interview!Upcoming podcasts:Amy Castor talks NFTs!Buttcoin Redditor discusses Microstrategy& Will Bitcoin Save us from Inflation? As well as a very special secret guest who may be a moderator on our favorite subreddit.--- Send in a voice message: https://anchor.fm/when-the-music-stops/message
I interviewed David Gerard, author of the cryptocurrency blog and book of the same name "Attack of the 50ft Blockchain", as well as a new book "Libra Shrugged" about Facebook's attempt to develop cryptocurrencies. We talked about Bitcoin, its flaws, its origins, and its future.
Josh Petty and David Gerard: NFTs - New opportunity or crypto scam?
Non-fungible tokens (NFTs) are like Bitcoin marmite - you either love ‘em or hate ‘em. Some, like digital artist Beeple, who recently sold an NFT at auction for $69.3 million, are understandably enamoured. Others, such as crypto sceptic David Gerard, have serious doubts. Josh Petty, co-founder of Twetch, has seen the trend first-hand. He recently launched NFTs for 101 Twetch hats which sold out in under a minute. The hats are embroidered with an individual number and come with a digital trading card to represent them. “The Twetch hat is a very special type of digital item because it actually comes with the physical peg,” Josh says. The hats, which first sold for $100 to $420 and are currently trading at $2000, are just the first step for Josh. He says, “the hat is a very simple, primitive example of the direction we’re going where the property that you have in real life or the digital life, those things are interacting.” On this week’s CoinGeek Conversations, David Gerard admitted he was impressed by Josh’s initiative but said he still had concerns about NFTs: “a lot of my objections to NFTs are not so much the future possibilities of what you might be able to do with this construct as with a lot of the grim realities we’re seeing here in March 2021.” David is unimpressed by customer service issues on NFT markets run by Ethereum. He says there are “enormous amounts of problems that they really haven’t done a lot of homework to work out how to sort out. Just customer service issues like you sold me an NFT that wasn’t minted by the artist and I feel ripped off.” Because an NFT doesn’t require people to own the copyright of something to mint tokens for it, it’s a market ripe for fraud. And there are other possible problems too: Josh admits that “there’s even been cases where people are going to an Ethereum based NFT website, they buy this piece of art, the artist later just goes to the website and uploads a different image of a rug.” But Josh explains that it’s easier to build verification into the blockchain on Bitcoin SV and show where digital property is minted. On Twetch “somebody can actually prove they own it, and they can prove it’s the thing that they have, that digital item and it’s built into their ownership and we’re solving that problem where no one else really is.” Josh also criticises Ethereum’s high minting fees, saying, “the price of purchasing an NFT - the minimum is so high on Ethereum that small artists that want to sell something for twenty dollars or less aren’t going to be able to have any income from this at all. On BSV we can do this.” BSV’s low transaction fees and capacity for scaling mean that budding digital creators can offer tokens at a higher margin. On Ethereum, new entrants are hit with high transaction fees and unexpected marketplace costs, restricting their earning potential. Josh believes BSV offers accessibility to young artists. He plans to “build a better platform that actually empowers people to be able to sell and trade things and make actual money from it.” The conversation was more of a meeting of the minds than Josh and David expected. David agreed that “there’s a world in which NFTs are this sort of fun, interesting thing you can play with and that’s good.”
Motion: Diem is a glorified Paypal (David Gerard vs. Bryce Weiner)
The Blockchain Debate Podcast
Guests:David Gerard (twitter.com/davidgerard)Bryce Weiner (twitter.com/bryceweiner)Host:Richard Yan (twitter.com/gentso09)Today’s motion is “Diem is a glorified PayPal.”Diem of course used to be called Libra. It’s a cryptocurrency floated by Facebook in 2019. It was a big deal back then. A global borderless currency for 2 billion install base is a game charger for commerce and remittances, and would have implications on capital control. There were some very high profile congressional hearings held on this matter with Facebook executives including Mark Zuckerberg. This also supposedly accelerated the adoption of CBDC by certain countries.So, what are the ambitious promises and regulatory constraints around Diem? What are the politicians’ biggest concerns on Diem? Will it end up getting reduced to a PayPal? How will Facebook make money from this? Our two guests will cover all of the above.If you’re into crypto and like to hear two sides of the story, be sure to also check out our previous episodes. We’ve featured some of the best known thinkers in the crypto space.If you would like to debate or want to nominate someone, please DM me at @blockdebate on Twitter.Please note that nothing in our podcast should be construed as financial advice.Source of select items discussed in the debate (and supplemental material):Diem official page: Diem.comSummary of Zuckerberg congressional testimony on Libra: https://techcrunch.com/2019/10/23/zuckerberg-testimony/David Gerard's book on Diem "Libra Shrugged: How Facebook tried to take over the money": https://davidgerard.co.uk/blockchain/libra/Tao network: https://tao.network/Guest bios:David Gerard is the author of two crypto books, “Libra Shrugged: How Facebook tried to take over the money” and "Attack of the 50 Foot Blockchain: Bitcoin, Blockchain, Ethereum and Smart Contracts." He is a no-coiner, and writes a popular no-coiner newsletter also named “Attack of the 50 Foot Blockchain.”Bryce Weiner is a former Fortune 500 developer with over 20 years of software engineering experience, with nearly a decade in cryptocurrency development and monetization. He is the lead developer of the Tao smart contract network and the CEO of US-based exchange AltMarket.
David Gerard: The birth pangs of Facebook’s crypto project
A staunch critic of Silicon Valley, writer and journalist David Gerard offers a stinging critique of Facebook’s cryptocurrency project: “Libra is not a story about cryptocurrency; it’s a story about Silicon Valley hubris and people who think they can start their own money and take over the world that way.”Known in the crypto world as a Bitcoin and blockchain critic, in his new book Libra Shrugged Gerard offers a comprehensive analysis of Facebook’s Libra project. Speaking to Coingeek’s Charles Miller, he characterizes the Libra team as “a group of people who think they can take advantage of the system without getting called out on it.” When Facebook announced Libra back in June 2019, “its original plan was to run a currency basket-based token on blockchain.” Gerard explains. The project, however, was met with fierce criticism from regulators around the world. Regulators’ biggest concern, Gerard says, is to avoid a repeat of the 2008 financial crisis which was brought about by the kind of structure Facebook’s Libra was proposing. Regulators fear that a monopoly could threaten global financial stability - as happened in 2008 when a few companies were purported to be ‘too big to fail’: “Regulators around the world are frightened of one thing and that’s another 2008 happening. And Facebook came along and presented them with a plan for ‘here’s how we could do a 2008 all by ourselves’.” Following opposition and backlash, the social media platform floated a new plan for a series of currency substitute tokens such as a dollar token, pound token, and Euro token. But as Gerard explains, this plan didn’t go down well with regulators either. “The real objection the regulators have is the scale of it.” The currency reserve needed to fulfill Facebook’s plan would have been worth over a trillion dollars - posing a major problem for global financial stability in itself. In October 2020, Facebook’s Mark Zuckerberg was summoned by members of the US Congress to a hearing to explain the company’s plans. Gerard observes Zuckerberg to be a good talker, serving up well thought-out statements, however lacking substance. Zuckerberg has since made it clear that Libra would not move forward without proper regulatory compliance. But one by one, large companies dropped their support for Libra, leaving a select few onboard. In December, Libra was renamed Diem. In an attempt to win over regulators, Diem presented a simpler and revamped structure. Its launch date was initially set for January 2021. As Gerard explains, it’s the same Libra group proposing different technologies to solve problems, except that now it’s the Diem Association instead of the Libra Association. You can buy David Gerard’s Libra Shrugged here: https://davidgerard.co.uk/blockchain/libra/
BJ Shea's Board Game Alliance Ep. 97 - David Gerard from Junk Spirit Games
BJ Shea's Geek Nation
On this episode we have special guest David Gerard from Junk Spirit Games in studio to talk about his kickstarter project "Slip Strike". We talk about potential board game delays because of a virus? and of course the quickstarter with Sean! See omnystudio.com/policies/listener for privacy information. Learn more about your ad choices. Visit podcastchoices.com/adchoices