Unchained

Mike Belshe, the founder and CEO of BitGo, talks about one of the biggest problems facing crypto today: security. We discuss some of the ways BitGo has resolved this issue, whether that still leads to single points of failure, and what the company's recent acquisition of Kingdom Trust (a "qualified custodian" as defined by the 1940 Investment Company Act) means for the space -- hint, it may have to do with ETFs. We also discuss the recent violent crimes against people in crypto and how everyday people should go about protecting their funds.

Mike Belshe: https://twitter.com/mikebelshe

BitGo: https://www.bitgo.com/

A Wired article on the BitGo acquisition of Kingdom Trust: https://www.wired.com/story/why-a-tiny-kentucky-firm-rules-a-corner-of-the-crypto-market/

New York Times article on crimes against crypto holders: https://www.nytimes.com/2018/02/18/technology/virtual-currency-extortion.html

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Bitwise: https://www.bitwiseinvestments.com/unchained

StartEngine:https://www.startenginesummit.com/

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At the Founders Organization's Initial Taco Offering, an unofficial SXSW event, the co-authors of the recently released Truth Machine, talked about a wide range of regulatory issues from what the SEC subpoenas mean to whether or not the SEC is investigating the SAFT to whether or not the regulators should address crypto on a federal level. We also discuss central bank cryptocurrencies, how the dollar could be knocked off world reserve currency status, rogue governments issuing cryptocurrencies, the Telegram ICO, ways in which blockchain can be applied to problems such as climate change and how the media is covering crypto.

The Truth Machine: https://us.macmillan.com/books/9781250304964

Michael Casey: http://www.michaeljcasey.com/

Paul Vigna: https://twitter.com/paulvigna

Paul's article on SEC subpoenas: https://www.wsj.com/articles/sec-launches-cryptocurrency-probe-1519856266

Michael's essay on China's desire to end the dollar's global dominance: https://www.coindesk.com/political-china-hates-bitcoin-loves-blockchain/

Thank you to our sponsors:

Preciate: https://preciate.org/, to recognize someone in a future episode, go to https://preciate.org/recognize/ 

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Wyoming now has five blockchain-specific laws. Caitlin Long, cofounder of the Wyoming Blockchain Coalition, describes what these laws are, what they mean, and how our least populous state became a crypto leader. The former chairman and president of Symbiont explains what this could mean for any project that aims to launch a utility token, whether or not ICOs held in Wyoming would only be available to Wyoming residents, and what big issue she thinks remains for the SEC to address.

Caitlin Long: https://www.linkedin.com/in/caitlin-long-/

To read the laws: https://legiscan.com/WY/bill/HB0070/2018

An op-ed Caitlin co-authored with WY House Rep. Tyler Lindholm: https://www.coindesk.com/haven-blockchain-case-wyoming/

Thank you to our sponsors, Onramp http://www.thinkonramp.com/ and Quantstamp: https://quantstamp.com/

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Amber Baldet, JPMorgan Chase blockchain program lead, talks about what she was discussing at SXSW with Hyperledger executive director Brian Behlendorf and what themes she heard at the Ethereum Community Conference in Paris. She talks about privacy in financial transactions, how "immutable" blockchains might conflict with a new EU privacy law granting people the "right to be forgotten." And we briefly touch on her work with Jalak Jobanputra's new diversity-focused group Collective Future. 

Privacy on Ethereum: https://www.coindesk.com/progress-hot-ethereum-privacy-projects-cooling-off/

The Collective Future: https://www.wired.com/story/for-women-in-cryptocurrency-a-new-effort-to-grow-their-ranks/

https://iapp.org/news/a/blockchain-technology-is-on-a-collision-course-with-eu-privacy-law/

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As a former government official, current board member of Coinbase and professor at the Stanford University Graduate School of Business, Kathryn Haun has a unique and varied view of the crypto space. She doesn't necessarily see the SEC subpoenas as a reason to be alarmed and compares it to her work as a federal prosecutor. We also discuss the FinCen letter and why her take is different from the fear we've seen in the marketplace.

SEC issues 80 subpoeast: https://www.wsj.com/articles/sec-launches-cryptocurrency-probe-1519856266?mod=searchresults&page=1&pos=1

The FinCen letter: https://coincenter.org/link/fincen-raises-major-licensing-problem-for-icos-in-new-letter-to-congress

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Preston Byrne, an independent consultant and English lawyer, and Angela Walch, an associate professor at St. Mary’s University School of Law who focuses on blockchain technology, both explain their criticisms of the crypto space, give grades to regulators on their job so far, and how they think major players in the space can improve. They discuss what systemic risks they believe crypto could pose to the wider financial system, how the current activity in the space is accruing "legal debt," and what it's like being a critic in a land of believers.

Preston Byrne: https://prestonbyrne.com/

Angela Walch: https://law.stmarytx.edu/academics/faculty/angela-walch/

Sponsored by Preciate: https://preciate.org/ for https://preciate.org/recognize/ and StartEngine: http://startengine.com/ for https://www.startengine.com/pages/summit  

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Spencer Bogart, partner at Blockchain Capital, discusses why he think Bitcoin's growing pains are a sign of success, how the SEC regulatory gloom could affect the development of crypto and how a liquidity crunch could affect crypto hedge funds. We also take a peek at the coming platform wars.

Blockchain Capital: http://blockchain.capital/

New crypto hedge funds: https://hackernoon.com/the-fate-of-crypto-hedge-funds-ca5850e8421c

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Will Warren, cofounder of decentralized exchange protocol 0x, was working on building tokenized derivatives for Ethereum when he and his cofounder realized there would be no place to trade them. They ended up pivoting to create a decentralized exchange protocol, 0x, that enables companies to use that infrastructure to direct fulfill trade orders without worrying about a Mt. Gox- or Bitfinex-type hacking situation, as users would still retain control of their funds. In this conversation, he talks about the problems with centralized exchanges and how decentralized exchanges can overcome some of their own obstacles including liquidity and problems with front running. He also gives answers to some of the criticisms of the 0x project, including why it needs its own token (ZRX) and what the token's purpose is.

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Future Perfect Ventures' founder and managing partner Jalak Jobanputra and I discuss the New York Times article earlier this week about how few women there are in crypto. We discuss some of the surprising comments we saw from women in the space who wish the story hadn't been written and Jobanputra's new effort to increase diversity in crypto, The Collective Future.

The New York Times article:

https://www.nytimes.com/2018/02/25/business/cryptocurrency-women-blockchain-bros.html

Jutta Steiner's tweet: https://twitter.com/jutta_steiner/status/968158503096471553

Meltem Dermirors' tweet: https://twitter.com/Melt_Dem/status/967983438945968130

Elizabeth Stark's tweet: https://twitter.com/starkness/status/968307972597272576

Wired article about The Collective Future: https://www.wired.com/story/for-women-in-cryptocurrency-a-new-effort-to-grow-their-ranks/

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Rune Christensen of MakerDAO and Philip Rosedale, founder of Second Life and High Fidelity, discuss why stablecoins are called crypto's holy grail, why they may be what's necessary for mainstream adoption, and all the ways a stablecoin can be constructed. Philip brings in his experience with Second Life's Linden dollars, often called the first true virtual currency, to describe how it was constructed and how he's planning to disseminate the cryptocurrency of his new virtual world, High Fidelity. Plus, we talk about why a digital USD wouldn't be a threat to stablecoins and whether collateralized stablecoins resemble fractional reserve banking or not.

Maker DAO: https://makerdao.com/

High Fidelity: https://highfidelity.com/

HFC: https://docs.highfidelity.com/high-fidelity-commerce/basics/hfc

More info on Linden dollars: https://en.wikipedia.org/wiki/Economy_of_Second_Life

The Hacker Noon post by Haseeb Qureshi: https://hackernoon.com/stablecoins-designing-a-price-stable-cryptocurrency-6bf24e2689e5

IMF SDRs: http://www.imf.org/en/About/Factsheets/Sheets/2016/08/01/14/51/Special-Drawing-Right-SDR

Episode with Bill Tai: http://unchainedpodcast.co/maitai-globals-bill-tai-on-why-blockchain-is-the-6th-wave-of-technology

Vitalik's post on collateralized debt obligations for issuer-backed tokens: https://ethresear.ch/t/collateralized-debt-obligations-for-issuer-backed-tokens/525

Other stablecoins:

Tether: https://tether.to/

Basecoin: http://www.getbasecoin.com/

Havven: https://havven.io/

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Subscribe to my new show, Unconfirmed! Here's a sample:

Brian Kelly of BKCM talks about token-curated registries, such as the proposal for Messari, by Ryan Selkis, formerly of Digital Currency Group and CoinDesk, and why such TCRs are probably a good idea, but what pitfalls they may face. We also discuss the highly anticipated launch of crypto trading on Robinhood and look behind the scenes at Venezuela's new crypto offering, the petro.

Token curated registries:

Proposal for Messari: https://medium.com/@twobitidiot/a-token-to-self-regulate-tokens-but-really-a61da77e6a7b

TCRs generally: https://medium.com/@ilovebagels/token-curated-registries-1-0-61a232f8dac7

A curated list of resources on TCRs: https://medium.com/@tokencuratedregistry/the-token-curated-registry-whitepaper-bd2fb29299d6

Robinhood launches crypto trading: http://blog.robinhood.com/news/2018/2/21/robinhood-crypto-trading-is-here

https://techcrunch.com/2018/02/22/free-crypto-trading/

Petro:

A good tweet storm on some of the issues surrounding the petro's launch: https://twitter.com/alemacgo/status/966072887319973891

Some meeting having to do with the petro that Laura found amusing -- the guy's smiles begin around 00:25: https://twitter.com/infrabolivar/status/965777624516759552

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The cofounder of MyEtherWallet and CEO of newly launched MyCrypto walks us through the nuts and bolts of how MyCrypto works, how it differs from a company like Coinbase, why the keys you get from the site even enable to work offline -- and how the company makes money. She also describes how the crypto community changed in 2017, her crazy sleeping schedule during that year, and how she responds when users ask questions like whether or not an initial coin offering will really deliver on the returns promised. We also cover what it's like being a CEO when running a company was never in her game plan, how she got into crypto after starting off in film school and what her tips are for not losing your crypto.

https://mycrypto.com/

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Check out the first episode of Unconfirmed, in which Olaf Carlson-Wee, CEO and founder of Polychain Capital, discusses why an issue facing the Ethereum community right now has him thinking about on-chain governance. If you enjoy the episode, subscribe to Unconfirmed today!

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Unconfirmed: Insights and Analysis From the Top Minds in Crypto drops today! The first guest is Olaf Carlson-Wee, CEO and founder of crypto hedge fund Polychain Capital. We discuss the week's news and what is on Olaf's mind these days. It's available on Apple Podcasts, Google Play, Stitcher, Soundcloud, Spotify, TuneIn and wherever you get your podcasts. Check it out and subscribe today!

Online at: www.unconfirmedpodcast.com

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Erik Voorhees says the greatest scam perpetrated on mankind is currency debasement -- and that crypto will change all that. In this wide-ranging interview, the CEO of crypto-to-crypto exchange Shapeshift talks about how crypto will take away power from central banks, why he believes "maximalists" -- those who believe one crypto asset will rule them all -- are wrong, and why someday we will look back and see the intertwining of money and state as barbaric and unjust, just as we now see the intertwining of church and state. We also discuss the prospects for Bitcoin in the face of high fees, how regulation will affect the development of crypto and why 2017 was the kind of year he hoped for when he got involved in Bitcoin in 2011.

Shapeshift's products:

https://shapeshift.io/#/coins

https://prism.exchange/

https://www.keepkey.com/

http://coincap.io/

Erik's blog: http://moneyandstate.com/

His blog post addressing maximalism: http://moneyandstate.com/no-non-bitcoin-blockchains-are-not-disrespectful-to-satoshi/

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Growing up in Argentina, Wences Casares saw his family lose all their money three times due to actions by the government. The so-called "patient zero" of Bitcoin in Silicon Valley explains why he believes that experience predisposed him to seeing the potential in Bitcoin earlier than most people, why it's so hard to explain Bitcoin to Americans and why the company he founded, Xapo, isn't just a Bitcoin vault and wallet company but his best effort at helping to ensure that Bitcoin succeeds. He talks about why he isn't scared of all the new competitors to his service, including Coinbase Custody, why Xapo hasn't branched out into any other crypto assets, and why he believes there's a more than 50% chance that Bitcoin is worth $1 million in five to ten years. Additionally, he still believes the attempt to accommodate more transactions on the Bitcoin blockchain with the SegWit2x fork, which he backed, was wrong -- even though the fees after its failure skyrocketed to as high as $60. Plus -- he reveals what it would look like if Bitcoin became a global standard of value, and why that vision doesn't threaten governments.

Xapo: https://xapo.com/

Wences's Facebook Live with Dan Schulman of PayPal: https://www.facebook.com/DanSchulmanPayPal/videos/1419329821528449/

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Tax attorney Tyson Cross and CPA Jason Tyra discuss all things crypto and taxes, including what types of crypto transactions are taxable events, how you'll be taxed on hard forks -- relevant for those who owned Bitcoin last August 1! -- and whether you can deduct a loss if you lose your private keys or exchange loses your coins. Plus, they reveal the top question they get from crypto enthusiasts and their top recommendations for people who love crypto but want to minimize their tax headache.

Tyson Cross: https://www.bitcointaxsolutions.com/

Jason Tyra: https://www.tyracpa.com/

Show notes: http://www.forbes.com/sites/laurashin/2018/01/23/the-tax-rules-that-have-crypto-users-aghast/

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The 23-year-old whiz dives into who blockchains will someday help, how we transition from Ethereum for digital cats to higher social impact, and why even big companies like JPMorgan, Microsoft and BP are using Ethereum. He also walks through some important technical challenges Ethereum faces with scaling and the shift from a proof-of-work consensus algorithm to proof of stake. And he reveals why he isn't a big believer in on-chain governance. Plus, he talks about his worries and gives us his predictions for 2018.

Show notes: http://www.forbes.com/sites/laurashin/2018/01/09/vitalik-buterin-creator-of-ethereum-on-the-big-guy-vs-the-little-guy/

Some of Vitalik's blog posts that we discussed: On token sales: http://vitalik.ca/general/2017/06/09/sales.html

Interactive coin offerings: https://people.cs.uchicago.edu/~teutsch/papers/ico.pdf

Blockchain governance: http://vitalik.ca/general/2017/12/17/voting.html

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In this special bonus episode, Laura cover all your basic questions about crypto. What is Bitcoin? What is Ethereum? What is a blockchain? Share this episode with friends, family and anyone who is new to the crypto space and wants to understand what it's all about. Thanks to Elaine Zelby for conducting the interview!

No show notes for this show, but some helpful links:

Phone hijackings: https://www.forbes.com/sites/laurashin/2016/12/20/hackers-have-stolen-millions-of-dollars-in-bitcoin-using-only-phone-numbers/#1b2acf5a38ba

Bitcoin -- these links are old but the information mostly still applies:

https://www.forbes.com/sites/laurashin/2015/12/11/should-you-invest-in-bitcoin-10-arguments-in-favor-as-of-december-2015/#34fbc792df28

https://www.forbes.com/sites/laurashin/2015/12/28/should-you-invest-in-bitcoin-10-arguments-against-as-of-december-2015/#117fcfe43895

https://www.forbes.com/sites/laurashin/2015/12/16/bitcoin-at-tax-time-what-you-need-to-know-about-trading-tipping-mining-and-more/

https://www.forbes.com/sites/laurashin/2015/12/31/want-to-own-bitcoin-heres-how-to-buy-invest-in-and-store-it/#792fd9d5b9ef

ICOs:

https://www.forbes.com/sites/laurashin/2017/07/10/the-emperors-new-coins-how-initial-coin-offerings-fueled-a-100-billion-crypto-bubble/

https://www.forbes.com/sites/laurashin/2017/07/17/how-to-speculate-in-icos-10-practical-financial-tips/#3b8ca6ff5378

https://www.forbes.com/sites/laurashin/2017/07/18/how-to-speculate-in-icos-and-buy-tokens-an-easy-step-by-step-guide/#376caf8c743a

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Marco Santori, who leads the blockchain technology team at Cooley, and Joshua Ashley Klayman, who leads the blockchain and smart contracts group at Morrisson and Forrester, explain why they disagree on how to ensure a token sale won't run afoul of securities laws, how they think regulation around crypto will likely be formed and why the Bitcliense has made New York a crypto innovation backwater.

Show notes: http://www.forbes.com/sites/laurashin/2017/12/12/how-crypto-and-blockchain-technology-should-be-regulated/

Marco Santori: https://www.cooley.com/people/marco-santori

Joshua Ashley Klayman: https://www.mofo.com/people/joshua-klayman.html

The SAFT white paper: https://saftproject.com/

The Cardozo Blockchain Project SAFT response, "Not So Fast": https://cardozo.yu.edu/sites/default/files/Cardozo%20Blockchain%20Project%20-%20Not%20So%20Fast%20-%20SAFT%20Response_final.pdf

Are ICOs For Utility Tokens Selling Securities? Prominent Crypto Players Say Yes: https://www.forbes.com/sites/laurashin/2017/10/02/are-icos-for-utility-tokens-selling-securities-prominent-crypto-players-say-yes/#107e96e34fa4

IRS Nabs Big Win Over Coinbase In Bid For Bitcoin Customer Data: https://www.forbes.com/sites/kellyphillipserb/2017/11/29/irs-nabs-big-win-over-coinbase-in-bid-for-bitcoin-customer-data/

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The executive chairman of AngelList and partner at crypto hedge fund MetaStable explains how blockchains are changing the entrepreneurship model, his philosophy for crypto investing, and what kind of threat crypto could someday pose to governments. We also dive into why blockchains represent a new form of governance, his philosophy for investing in tokens and why he believes there will only be five or fewer winners among the money-like tokens.

Show notes: http://www.forbes.com/sites/laurashin/2017/11/28/naval-ravikant-on-how-crypto-is-squeezing-vcs-hindering-regulators-and-bringing-users-choice/

AngelList: https://angel.co/

MetaStable: http://metastablecapital.com/

CoinList: https://coinlist.co/

https://www.forbes.com/sites/laurashin/2017/05/18/want-to-hold-an-ico-coinlist-makes-it-easy-and-legal/

Zcash: https://z.cash/

BlockStack: https://blockstack.org/

https://www.forbes.com/sites/laurashin/2017/09/05/blockstack-on-how-to-take-control-from-google-facebook-and-amazon/

Bitwise Hold 10: https://www.bitwiseinvestments.com/

https://www.forbes.com/sites/laurashin/2017/10/02/new-crypto-index-fund-to-launch-with-backing-from-naval-ravikant/

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Days after the SegWit2x fork was called off, Nathaniel Popper, New York Times tech reporter and author of the book Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money, put this latest suspenseful chapter in Bitcoin's history into context. He discusses why he thinks Bitcoin has become such a vicious, polarized community, why so many of the early Bitcoiners ended up becoming supporters of big blocks, and what could happen to Bitcoin now that new money is entering the system but transactions are expensive and often backlogged. We also dive into who Satoshi Nakamoto might be, whether there are any viable Bitcoin businesses other than ones buying and selling Bitcoin and where regulation of the space is likely to go.

Show notes: http://www.forbes.com/sites/laurashin/2017/11/14/what-bitcoins-history-says-about-its-future/

Digital Gold: https://www.harpercollins.com/9780062362490/digital-gold

Nathaniel's story on ICOs: https://www.nytimes.com/2017/10/27/technology/how-floyd-mayweather-helped-two-young-guys-from-miami-get-rich.html?rref=collection%2Fbyline%2Fnathaniel-popper

His story on who Satoshi Nakamoto may be: https://www.nytimes.com/2015/05/17/business/decoding-the-enigma-of-satoshi-nakamoto-and-the-birth-of-bitcoin.html?_r=0

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As Bitcoin faces the biggest test in its nine-year history, two players on opposing sides -- Mike Belshe of BitGo and Bitcoin protocol developer Matt Corallo -- debate how the community got here and what the definition of Bitcoin is -- whether the white paper or price determines it. We also look at how the upcoming hard fork could affect Bitcoin Cash, and debate whether or not censorship on the Bitcoin subreddits has influenced people’s views on the block size debate. Plus, they give their best post-hard fork predictions.

For reference: Will This Battle For the Soul of Bitcoin Destroy It? https://www.forbes.com/sites/laurashin/2017/10/23/will-this-battle-for-the-soul-of-bitcoin-destroy-it/

Show notes: http://www.forbes.com/sites/laurashin/2017/10/31/what-will-happen-at-the-time-of-the-bitcoin-hard-fork/

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Chris Burniske of Placeholder Ventures has recently come out with a new book, "Cryptoassets: The Innovative Investors' Guide to Bitcoin and Beyond" that dives into what crypto assets are, what makes them a new asset class, and how you calculate a valuation for such a network. He applies what is known as the equation of exchange (MV = PQ) to crypto assets and describes why the velocity of crypto assets -- the frequency with which they change hands during a particular time frame -- is likely to be much higher than for traditional assets, and discusses why he gives crypto assets much higher discount rates, which are used to determine what you should pay now for something will be worth more later. Plus, we talk about why the financial incumbents are in for a rude awakening from public blockchains.

Show notes: https://www.forbes.com/sites/laurashin/2017/10/17/how-to-value-a-crypto-asset/

Book: https://www.bitcoinandbeyond.com/

Chris's Medium post on crypto asset valuations: https://medium.com/@cburniske/cryptoasset-valuations-ac83479ffca7

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Tired of having your friends and family say cryptocurrencies are a Ponzi scheme, nothing backs them, they're in a bubble and only criminals use them? In this episode, Amanda Gutterman, chief marketing officer of ConsenSys, and Jamie Smith, global chief communications officer of Bitfury, tackle every common misconception of Bitcoin, Ethereum and cryptocurrencies. This is an episode you'll want your friends and family to listen to. Plus: Gutterman and Smith talk about how they did the seemingly impossible: create gender-balanced crypto conferences.

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Da Hongfei of NEO and Patrick Dai of Qtum tell us just how crazy China's ICO craze was getting, with mooncake companies, celebs and Ponzi schemers all jumping on the blockchain train. They also explain what the reaction was to the ICO and bitcoin exchanges ban, how they're refunding investors (if the investors want to be refunded -- a big if) and what the future of crypto is in China.

Show notes: http://www.forbes.com/sites/laurashin/2017/09/19/from-blockchains-to-mooncakes-two-chinese-crypto-founders-on-the-ico-and-bitcoin-exchanges-ban/

Qtum: https://qtum.org/

NEO: https://neo.org/

Previous episodes mentioned in the podcast:

Interview with Smith & Crown: https://www.forbes.com/sites/laurashin/2017/08/22/the-high-speed-world-of-icos-smith-and-crown-discuss-cryptoeconomics-and-the-future-of-tokens/

Interview with Bobby Lee: https://www.forbes.com/sites/laurashin/2017/03/21/bobby-lee-ceo-of-btcc-on-why-the-chinese-probably-arent-using-bitcoin-to-evade-capital-controls/

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Ryan Shea and Muneeb Ali, the cofounders of Blockstack, on how their tools enable users to control their own data, why the internet should have universal usernames but no company should control that, and why Blockstack’s storage system still allows users to choose centralized options  like Google Drive and Dropbox. They also talk about how other blockchain systems are thinking about scaling wrong, why they launched a developer fund, and why a developer would choose Blockstack over Ethereum.

Show notes: http://www.forbes.com/sites/laurashin/2017/09/05/blockstack-on-how-to-take-control-from-google-facebook-and-amazon/

BlockStack: https://blockstack.org/

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Brian Lio, CEO of cryptofinance research site Smith and Crown, and head of research Matt Chwierut discuss how they do their research, how they decide which projects to cover in-depth rather than just list and when they provide advisory services for teams. They also discuss how they think the blockchain and crypto space will develop, the best structures for token sales, and why they joke that financial institutions haven't heard anything Smith and Crown has said.

Smith and Crown: https://www.smithandcrown.com/

Show notes: http://www.forbes.com/sites/laurashin/2017/08/22/the-high-speed-world-of-icos-smith-and-crown-discuss-cryptoeconomics-and-the-future-of-tokens/

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Afghan entrepreneur Roya Mahboob has launched numerous companies, but it was a blogging platform that presented her with the problem of how to pay her (mostly female) users, 99% of whom did not have bank accounts. And even if they did get paid, their families would often confiscate the money. She found her solution in Bitcoin, and later launched a new startup, Digital Citizen Fund, that trains girls in blockchain technology and Bitcoin. Mahboob, named one of the 100 most influential people in the world by Time magazine in 2013, funded the Afghan girls' robotics team that made news recently, and describes what went on behind-the-scenes. She also tells us about her other ventures, EdyEdy, her coffee/tea venture Digital Citizen Brew, and the marketplace for Afghan goods that she is launching -- which will accept Bitcoin or perhaps its own token.

Show notes: http://www.forbes.com/sites/laurashin/2017/08/08/how-bitcoin-solved-this-serial-entrepreneurs-problems/

Digital Citizen Fund: http://digitalcitizenfund.org/

Roya's Time 100 description, written by Sheryl Sandberg: http://time100.time.com/2013/04/18/time-100/slide/roya-mahboob/

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Bitcoin core developer Eric Lombrozo and OB1 CEO Brian Hoffman debate whether SegWit2x is the best path forward, discuss who supported it and why, and whether the potential for a hard fork harms the price. They also discuss what happens to the power of core developers now that a change they didn’t support might get pushed through, what their ideal solutions for increasing transactions on the network are, and how much power miners should have.

Show notes: http://www.forbes.com/sites/laurashin/2017/07/25/why-november-will-be-the-real-test-for-bitcoin/

Back story referenced in this episode:

The different sides in Bitcoin threatening to cut each other out: https://www.forbes.com/sites/laurashin/2017/03/21/is-this-massive-power-struggle-about-to-blow-up-bitcoin/#33e4c5047325

New York agreement: https://www.forbes.com/sites/laurashin/2017/05/23/bitcoin-agreement-promises-to-resolve-years-long-impasse/#6ed7d8dd448d

Economic activity moving to other blockchains: https://www.forbes.com/sites/laurashin/2017/06/07/bitcoin-is-at-an-all-time-high-but-is-it-about-to-self-destruct/#2c563f8dcb31

Brian's company: https://ob1.io/

Eric's company: https://ciphrex.com/

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In this episode, coming one day after the release of my Forbes cover story online, I answer listener questions, starting with my background, the history of the podcast, whether or not I trade or invest in crypto, and what tokens I think have the strongest real-world application. If you haven't read the cover package, I highly recommend you do so now: Cover story: https://www.forbes.com/sites/laurashin/2017/07/10/the-emperors-new-coins-how-initial-coin-offerings-fueled-a-100-billion-crypto-bubble/ Sidebars: https://www.forbes.com/sites/laurashin/2017/07/10/return-of-the-day-traders/ https://www.forbes.com/sites/laurashin/2017/07/10/how-crypto-tokens-work-a-close-look-at-golem/ https://www.forbes.com/sites/laurashin/2017/07/10/not-so-tiny-bubbles-the-top-25-crypto-assets/ https://www.forbes.com/sites/laurashin/2017/07/10/cryptos-in-wonderland-12-of-the-weirdest-wackiest-coins/

And if you haven't listened to the episode with Olaf Carlson-Wee, I strongly suggest you check that out now as well: iTunes: https://itunes.apple.com/us/podcast/why-the-first-employee-of-coinbase-launched-a-hedge-fund/id1123922160?i=1000382301347&mt=2 Google Play: https://play.google.com/music/m/Dg3qrzci54ppzevdqvztwap2yiu?t=Why_The_First_Employee_Of_Coinbase_Launched_A_Hedge_Fund-Unchained_Big_Ideas_From_The_Worlds_Of_Bloc

I also get philosophical, fielding listener questions about whether blockchain is a Ponzi scheme, whether greed will undercut the democratic possibilities offered by blockchain and whether this isn't really a bubble but just a new form of exponential growth.

I also cover security in this episode, and would like to point readers to this story that explains the phone hijacking situation: https://www.forbes.com/sites/laurashin/2016/12/20/hackers-have-stolen-millions-of-dollars-in-bitcoin-using-only-phone-numbers/ Some tips on how to protect yourself: https://www.forbes.com/sites/laurashin/2016/12/21/hackers-are-hijacking-phone-numbers-and-breaking-into-email-and-bank-accounts-how-to-protect-yourself/#720a302f4e1b

Other episodes referenced in this podcast are the ones with Coin Center, Kathryn Haun, Michael Casey, Elizabeth Rossiello and Matt Roszak. Please give a listen to those as well if you haven't!

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The DCG director of development talks about why she thinks identity will be the first tangible application of blockchain technology that consumers experience, why DCG supports Ethereum Classic as an investment vehicle and yet still supports Ethereum as a protocol, and how bitcoin itself as a global currency hasn't taken off as much as she thought when she first got into the industry. She also explains what the top regulatory issue is for blockchain startups and projects -- it's a lot more mundane than you might expect -- and why she doesn't, at this point, have a lot of confidence in crypto hedge funds. Plus, she makes suggestions on how ICOs could improve and reveals her top picks for new tokens.

Show notes: https://www.forbes.com/sites/laurashin/2017/06/13/why-digital-currency-groups-meltem-demirors-is-concerned-about-the-ico-craze/

The phone hijacking article referenced in the episode: https://www.forbes.com/sites/laurashin/2016/12/20/hackers-have-stolen-millions-of-dollars-in-bitcoin-using-only-phone-numbers/

DCG: http://dcg.co/

Ethereum Classic Investment Trust: https://grayscale.co/ethereum-classic-investment-trust/

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The Civic CEO and cofounder explains how his upbringing in South Africa and his experience at former company Gyft led him to launch a startup focused on identity. It was also at Gyft that he realized how enthusiastic the bitcoin and cryptocurrency crowd is and how a business could harness that enthusiasm to grow its user base. We discuss why the ICO craze has only just gotten started and how cultural differences could make the scams and speculation worse than in previous bubbles. Plus, Lingham explains what risks in bitcoin investors aren't pricing in and why he believes the odds of a split in bitcoin are currently greater than 50%.

Don't forget to take the Unchained podcast survey: https://www.surveymonkey.com/r/unchained

Civic: https://www.civic.com/

Show notes: http://www.forbes.com/sites/laurashin/2017/05/30/bitcoin-oracle-vinny-lingham-on-why-bitcoin-is-overpriced/

More on ICOs: https://www.forbes.com/sites/laurashin/2017/05/16/icos-why-people-are-investing-in-this-380-million-phenomenon/#ff1983411a18

The risks of a split in Bitcoin: https://www.forbes.com/sites/laurashin/2017/03/21/is-this-massive-power-struggle-about-to-blow-up-bitcoin/#5c5658677325

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Don't forget to take the Unchained podcast survey: https://www.surveymonkey.com/r/unchained

Developers of new cryptocurrencies are raising gobs of money with little more than a white paper. Though real advances are likely to emerge from the trend, the bubble could get worse before it gets better. William Mougayar, organizer of the upcoming Token Summit, and Nick Tomaino, cohost, discuss where ICOs are going wrong now, what best practices would help the space mature, and how to separate ICO wheat and chaff.

Show notes: https://www.forbes.com/sites/laurashin/2017/05/16/icos-why-people-are-investing-in-this-380-million-phenomenon/

Links: Token Summit: http://tokensummit.com/ The Business Blockchain: http://thebusinessblockchain.com/ Startup Mangement: http://startupmanagement.org/ The Control: https://thecontrol.co/ Runa Capital: http://www.runacap.com/

Episodes referenced: Brock Pierce of Blockchain Capital and Stan Miroshnik of The Argon Group: https://www.forbes.com/sites/laurashin/2017/04/18/this-vc-is-sure-venture-capital-is-about-to-be-disrupted/ Olaf Carlson-Wee of Polychain Capital: https://www.forbes.com/sites/laurashin/2017/03/07/why-this-hedge-fund-ceo-once-put-most-of-my-meager-life-savings-into-bitcoin/#6c20ccd14e15 Jerry Brito and Peter Van Valkenburgh of Coin Center: https://www.forbes.com/sites/laurashin/2016/10/18/how-coin-center-is-helping-define-the-big-fuzzy-gray-area-of-blockchain-and-cryptocurrency-law/#11112aa960e6

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Thanks to all the listeners who've let me know what you want to hear more of, what you like about the show, and who you want to see as guests. If you haven't yet, have a say in the direction of the show -- tell me what you like, what the podcast could do better, and who you are: https://www.surveymonkey.com/r/unchained

Jerry Cuomo has been at IBM his whole career and says that the emergence of blockchain technology is the second time in his career he has seen a breakthrough that will affect the lives of everyday people. IBM's VP of blockchain technologies talks about the company's work in areas as diverse as food safety in its project with Walmart, how blockchains will interact with Internet of Things devices and how it's approaching its identity work. Plus, he dives into what security for a permissioned blockchain looks like, whether IBM will lock its clients into its software, and what exactly its role is with the Hyperledger Foundation.

Show notes are available here: http://www.forbes.com/sites/laurashin/2017/05/02/ibms-jerry-cuomo-on-everything-from-blockchain-security-to-hyperledger-to-the-internet-of-things/

IBM blockchain: https://www.ibm.com/blockchain/

We also reference my interview with Kathryn Haun of the Department of Justice: https://www.forbes.com/sites/laurashin/2016/11/01/federal-prosecutor-kathryn-haun-on-how-criminals-use-bitcoin-and-how-she-catches-them/

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Don't forget to take the Unchained Podcast survey! http://surveymonkey.com/r/unchained 

Blockchain Capital's recent BCAP token offering is a harbinger of things to come in venture capital and private equity, says the firm's managing director Brock Pierce. And Stan Misohnik, the CEO and cofounder of a new investment bank focused on cryptocurrency called The Argon Group, seconds that. Pierce talks about how his career in cryptocurrency started with video games, how Blockchain Capital's three funds have evolved over time, why he is taking the step to disrupt himself, and why his phone number is being handled by the office of T-Mobile's president. And Miroshnik explains how his background in capital markets helped him see the business opportunity and why the BCAP token issuer was based in Singapore.

Show notes: http://www.forbes.com/sites/laurashin/2017/04/18/this-vc-is-sure-venture-capital-is-about-to-be-disrupted/

Blockchain Capital: http://blockchain.capital/

The Argon Group: https://argongroup.com/

Blockchain Capital III Digital Liquid Venture Fund: https://blockchaincapital.tokenhub.com/

The phone hijacking article Brock and I reference: http://www.forbes.com/sites/laurashin/2016/12/20/hackers-have-stolen-millions-of-dollars-in-bitcoin-using-only-phone-numbers/

The episode with Jerry Brito and Peter Van Valkenburgh of Coin Center: https://www.forbes.com/sites/laurashin/2016/10/18/how-coin-center-is-helping-define-the-big-fuzzy-gray-area-of-blockchain-and-cryptocurrency-law/

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Please take the Unchained podcast survey! https://www.surveymonkey.com/r/unchained

The bitcoin community is mired in a civil war. In this episode of the Unchained podcast, supporters of opposing sides -- former Bitcoin Core developer Jeff Garzik and Litecoin creator Charlie Lee -- explain why nuclear options are on the table. The discussion touches on whether high transaction fees are bad for the network or a necessary evil, which would be considered the "true" bitcoin if the currency split in two, and whether the cryptocurrency is already centralized, or controlled by a few. We also discuss why bitcoin can't just look at the playbook of other open source projects to get past this stalemate. And they give advice to current bitcoin owners wondering whether to sell or hold through this bitcoin game of chicken.

Show notes: https://www.forbes.com/sites/laurashin/2017/04/04/why-bitcoin-may-split-in-two-and-how-to-prevent-it/

Other links:

• Bloq: http://bloq.com/
• Coinbase: https://www.coinbase.com/
• Litecoin: https://litecoin.org/

This episode was sponsored by OnRamp: http://www.thinkonramp.com/

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Bobby Lee, CEO of BTCC, one of the world's longest-running cryptocurrency exchanges, talks about whether Chinese people are using bitcoin to evade capital controls, how bitcoin trading in China has changed since a government crackdown in early January, and how he came up with the idea for no-fee trading in the early days of bitcoin.

Read the show notes.

Other links:

• BTCC
• Mobi
• Bitcoin Foundation

This episode was sponsored by OnRamp.

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Olaf Carlson-Wee is the founder of Polychain Capital, a hedge fund that has invested $15 million into digital assets and has gotten backing from storied venture capital firms Andreessen Horowitz and Union Square Ventures. In this episode, Carlson-Wee recounts war stories from the early days of bitcoin, including how he learned about bitcoin before his computer science professors, bought bitcoins with cash and created “the Bitcoin SAT” to make hires at Coinbase. He also describes how to separate cryptocurrency scams from legitimate ventures, how he plays blackjack against a smart contract and why launching a digital asset hedge fund means he can no longer earn and spend mostly in bitcoin.

Read the show notes. 

Other links:

• Polychain Capital
• Coinbase
• Golem
• Tezos

This episode was sponsored by Onramp.

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Fredrik Voss, Nasdaq's head of blockchain initiatives, discusses what the company has accomplished with the technology and how his firm evaluates whether potential projects could benefit from a blockchain solution. He also reveals what is likely to really slow adoption of distributed ledgers (hint: not the tech itself) and gives advice to other companies looking to incorporate it.

Read the show notes and my magazine story on Chain and its work with Nasdaq.

 This episode was sponsored by Onramp.

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The SEC will make a decision on a proposed bitcoin ETF by March 11. Will it approve? An optimist and pessimist weigh in, touching upon bitcoin’s liquidity, the impact recent events in China have had on its trading, as well as proposals for bitcoin ETFs by other companies. Plus, they reveal what impact an ETF could have on the bitcoin market.

Read the show notes.

Other links: 

• Needham & Company
• Global Advisors
• Gemini

This episode was sponsored by Onramp.

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The IRS found three entities using bitcoin to evade taxes and has now demanded the records of millions of users at Coinbase, the largest U.S. cryptocurrency exchange. An accountant and an attorney specializing in cryptocurrency discuss whether the IRS is overreaching, how this "unprecedented" case differs from previous ones pursued by the IRS, and what they think the ultimate outcome will be.

Read the show notes.

Other links:

• Coinbase
• Berns Weiss LLP
• Global Tax Accountants
• Brian Armstrong's response on Medium
• My magazine feature on Coinbase

This episode was sponsored by Onramp.

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CME Group handles three billion contracts worth about $1 quadrillion annually. So why is it making a foray into bitcoin, whose market capitalization is a mere $16 billion? Sandra Ro, CME's head of digitization, explains its first cryptocurrency products, the Bitcoin Reference Rate and the Bitcoin Real-Time Index, as well as a forthcoming blockchain-based product, Royal Mint Gold. She also reveals which other cryptocurrencies have piqued her interest and which other physical world assets she thinks could be traded by blockchain.

Read the show notes.

Other links:

• CME's Bitcoin Reference Rate
• Bitcoin Real-Time Index
• Royal Mint Gold

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Kathryn Haun put away the DEA and Secret Service agents who tried to make off with more than $800,000 in stolen bitcoin while investigating the darknet Silk Road marketplace. She talks about how the blockchain technology underlying Bitcoin made it possible to uncover their theft, why she believes blockchain will create a lot of good, and what she does when the very people behind tumblers and mixers -- technology that makes her work more difficult -- turn to her when they are the victims of crimes. Along the way, we learn about the habits of cryptocurrency criminals and get a fascinating view into the world of "breeder documents."

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As blockchains and cryptocurrencies evolve, there are times when the technology outpaces the law. That's when Coin Center steps in. The non-profit, which represents the technology, not the industry, and aims for regulators to keep a mostly hands-off attitude, has already helped shape questions around which types of Bitcoin wallet providers are financial institutions and whether new coins being offered represent securities. And answering these questions has drawn it back into previous cases involving everything from Florida orange groves to Manhattan co-ops to golf club memberships.

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Cornell University computer science professor Emin Gun Sirer, an influential figure in the cryptocurrency and blockchain space, describes his ideas for improving security in the space, his skepticism about how to scale these networks, and how the last time financial institutions invested in their systems appears to be for Y2K. He also tells us how growing up in an environment where he saw a lot of scams helps him find problems in code, explains why Bitcoin is the “universal bug bounty,” and reveals how two high school students saved burgeoning cryptocurrency network Ethereum “like in the movies — just before the clock was going to expire.”

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Michael Casey, senior advisor at MIT's Media Lab and author of the Age of Cryptocurrency, spent 18 years at the Wall Street Journal -- a good portion of that covering currency markets. But he says it wasn't until he learned about Bitcoin that he really understood what money was. In this episode of Unchained, he explains why, plus discusses why he thinks China will play a key role in moving the world to a cryptocurrency- or blockchain-based trade settlement system, what that could mean for the U.S. dollar as a reserve currency and what he thinks is the most cutting-edge work being done in blockchain.

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Tyler and Cameron Winklevoss, CEO and President, respectively, of cryptocurrency exchange Gemini, talk about the importance of regulation in a sector once associated in popular culture with illicit activity. The twin brothers, who were the first to file with the SEC for a Bitcoin ETF, recount how they went from competing in the Olympics to launching a cryptocurrency company, explain why they believe private blockchains are really just distributed databases, and discuss why we've seen so many hacks of Bitcoin exchanges. They also touch on an emerging trend, app-coins or new cryptographic tokens being used to run, say, peer-to-peer versions of Dropbox or Reddit.

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“Shifting from a perspective of 'only humans control money' to 'machines and software control money' is really radical and it changes a lot of things,” says the popular blockchain and Bitcoin author and speaker Andreas Antonopoulos. Antonopoulos discusses why the real magic of blockchain is decentralization, why criticisms that Bitcoin is a waste of energy are wrong, and why he now charges a 20% premium to be paid by wire transfer instead of bitcoin. And if you're amazed by the idea of a self-driving car, wait until you hear his description of how the taxis of the future might operate.

Read the show notes.

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Jason Weinstein and Alan Cohn, partner and of counsel, respectively at law firm Steptoe & Johnson, discuss their work with the Blockchain Alliance, a coalition of both blockchain and cryptocurrency companies as well as law enforcement agencies including Interpol, the FBI, the SEC, Europol and others. Find out how crime in Bitcoin is similar to all types of crime, what genuinely new questions are being raised, and how various law enforcement agencies might think about even recent developments like the emergence of the DAO and the subsequent DAO hack.

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