Whoo boy, a crazy week to wrap up a crazy year in cryptoworld. Junseth, Dante and friends return in the new year to talk all about it — Coinbase crashes itself trying to launch Bitcoin Cash, Charlie Lee sells out of LTC at the top of the market, and Lightning Network is… coming soon.
Also read: Junseth’s World Episode 22: Gold Lamé
There Is No Counterparty Controversy (or Foundation)
Are you confused by the recent controversy over at Counterparty? Wait, what controversy? The main controversy seems to be whether there even is any controversy. Which there isn’t. Except that we’re talking about it, so something’s up. Also, does Counterparty actually still exist, or is it just five guys and a pile of Rare Pepes?
Junseth thinks he might actually be the only remaining member of the Counterparty Foundation, and ponders briefly what to do with such power. Dante phones an old friend to try and get to the bottom of it all.
The Problem(s) With Coinbase
If Coinbasewants to be the Goldman Sachs of Bitcoin, they’re going the wrong… or, maybe they’re going the right way about it. Junseth and friends kick of by examining Coinbase’s handling of a currency they insist on calling “Bcash” — even though no such coin exists.
Then there’s Coinbase’s potentially expensive problem with badly-handled UTXOs, prompting the important question: if it costs more money to withdraw all the company’s BTC than the BTC is worth, are they technically running a fractional reserve?
In other news, Lightning Network is “literally amazing” — at least on testnet. Did you know LN payments are actually smart contracts? And everyone’s tired of hearing your bitcoin analogies for normies, though Dante longs for an explanation in Dr. Seuss form. Listen to the whole episode for all the detail.
For the Uninitiated: WTF Is Junseth’s World?
Adored by most corporate blockchainindustry participants and pretty much everyone else, the controversial South Florida resident embodies that region’s unique approach to business. He has seen and done things for Bitcoin you probably never imagined … and some you wished you could un-imagine.
Somewhere in all of that, you actually get a good education and some surprisingly useful insights into the world of finance, trading, business and economics. Subscribe to the entire series on Soundcloud.
Images via Daily Mail, Junseth’s mom
The postJunseth’s World Episode #23: Shitcoin Resignations appeared first on Bitsonline.