This episode provides a rapid-fire, skeptical overview of the state of Bitcoin in late 2014, focusing on corporate adoption, government inaction, and the future of digital currency.
1) Main Topics Discussed
* Corporate Adoption: Microsoft begins accepting Bitcoin for purchases across its platforms (Windows, Xbox, etc.), viewed as a major pivot.
* Bitcoin Momentum: New Eggs predicts that Bitcoin will achieve mainstream status in 2015.
* Developer Funding: Tim Draper is reported to be funding core Bitcoin developers, potentially rivaling the Bitcoin Foundation.
* Government Skepticism: The hosts criticize the US government for not creating its own digital currency and criticize the Federal Reserve's use of quantitative easing.
* Crypto Theory: The belief that while new cryptocurrencies may emerge, Bitcoin will absorb their superior features and use its network effect to dominate.
2) Key Quotes
* "The USA should make its own digital currency, but it won't."
* "Microsoft begins accepting Bitcoin for Windows, Windows Phone, and Xbox purchases."
* "Bitcoin will be displaced by cryptocurrencies with superior features. Yeah, right. And then Bitcoin will absorb their features and use a superior network effect to crush them."
3) People Mentioned
* Tim Draper
* Taylor Swift
* Jasper Borkman
* Roger Veer
* Brian Sovereign
4) Bitcoin Price
* WinkTex reported a last price of $3.48, with a high of $354 and a low of $344.