Will the price crash affect the bitcoin mining network? .::. Flipside Bits 15

This episode, "Will the price crash affect the bitcoin mining network?", covers a mix of industry news, political commentary, and legal updates from the crypto world.

1) Main Topics Discussed

• Bitcoin Security: Highlighting a hack at Bits Stamp, which lost a small fraction of its funds but successfully recovered a significant amount using multi-signature wallets (Bitgo).
• Mining Industry Instability: Discussing the collapse of cloud mining operations, including Coin Terror defaulting on debt and Sexio suspending operations because maintenance costs exceeded the reward for mining.
• Government Surveillance: Critiquing potential government overreach, citing concerns that encryption (which is "just maths") could be banned under new surveillance powers.
• Legal Drama: Providing an update on the ongoing trial of Ross Olbritt, the alleged founder of the Silk Road marketplace.

2) Key Quotes

• "Encryption is just maths."
• "This isn't about terrorism, this is about control and spying on ordinary citizens."
• "I've never quite understood the appeal of mining clouds."

3) People Mentioned

DJ Booth, Bits Stamp, Deno Farron, Ben Davenport (Bitgo), Jimmy Fallon, David Cameron, Edward Snowden, Ross Olbritt, Joshua Dretel, Jeffrey Smith (CoinDesk).

4) Bitcoin Price Mentioned

The episode mentions that the mining operations at Sexio would resume if the price of Bitcoin climbs over $320.