This episode, recorded on May 2, 2013, discusses the extreme volatility of the Bitcoin market, covering everything from technical crashes to its theoretical acceptance by global institutions. The overall tone is one of high speculation and market uncertainty.
Main Topics Discussed:
* Market Volatility: The discussion centers on a "flash crash" and the general instability of Bitcoin prices.
* Mining Difficulty: The crash is theorized to be caused by the release of two new, powerful miners ("Spirit" and "Opportunity") from Butterfly Labs, which exponentially increased mining difficulty.
* Bitcoin in Space: The episode reports on the first Bitcoin being sent into space, but also the official confirmation that it was rejected upon arrival.
* Financial Legitimacy: The potential integration of Bitcoin with major platforms like PayPal and eBay is discussed, suggesting it could provide much-needed legitimacy to the virtual currency.
Key Quotes:
1. "The first Bitcoin rejected in space."
2. "No Bitcoin has, or will be accepted from orbit at this time."
3. "I'm a blue chip in a bear market."
People Mentioned:
* Chris Hadfield (astronaut)
* Evan (Chris’ son)
Bitcoin Price Mentioned:
* The price was noted to have started at 113, fallen to 91, and recovered to about 105.