This episode, broadcast on April 15, 2014, reviews the volatile state of Bitcoin, focusing on major corporate resistance and the resilience of the cryptocurrency despite geopolitical uncertainty.
Summary:
The episode highlights three major themes: corporate rejection, institutional resistance, and geopolitical defiance. Walmart was reported to have abruptly curtailed its support for gift card purchases using Bitcoin, impacting the service Gyft. Meanwhile, Amazon was criticized for refusing to accept Bitcoin, claiming that customer preference was the reason for the policy, despite the benefits seen by other retailers. Despite ongoing confusion and talk of a crackdown in China, the episode notes that Bitcoin maintained its value, recovering significantly from previous lows.
Main Topics Discussed:
* Walmart restricting Bitcoin-based gift card support (Gyft).
* Amazon refusing to accept Bitcoin, citing customer demand.
* Bitcoin's resilience and recovery despite China's regulatory uncertainty.
Key Quotes:
1. "Amazon claims its customers don't want Bitcoin, so they won't accept it."
2. "Walmart has tightened its grip on gift cards, striking down gift..."
3. "Bitcoin defies talk of China crackdown."
People/Entities Mentioned:
Walmart, Gyft, Amazon, CoinDesk BPI, Overstock.com, Tiger Direct.
Bitcoin Price:
The price was reported as a last of 496, a high of 514, and a low of 452. (It was also noted recovering from a low of $350 to $500).