1. The world's best reading app

    Great articles, no ads. Get started for free.

    New Money ReviewPaul Amery5/5/214 min
    2 reads1 comment
    New Money Review
    2 reads
    You must read the article before you can post or reply.
    • thorgalle
      5 months ago

      This podcast teaser barges in with fancy terms that make me go 🤔 ("Ponzi-like", "ETH", "counterparty"), but I'll put that podcast on my listen-list anyway!

      I recognized Diehl's name from this Twitter thread rant where he attacks the Bitcoin for its alleged environmental impact. Interesting that this teaser contains not a word about this.

      And while the open-source nature of most cryptocurrency projects means their codebase can be audited, the same principle of openness doesn’t extend to many of the service providers in the sector, says Diehl.

      This criticism makes sense to me. As far as I understand, the layman investor still has to access their crypto coins through a third party, a wallet or so. This shifts the weak link in security to these parties. I remember an interesting "Super Tech Support" podcast "#115 The Bitcoin Hunter" from Reply All where they try to retrieve bitcoins from Mt. Gox, which was hit by massive bitcoin theft, and got bankrupted in 2014-2016.