This episode, recorded on August 16, 2015, covers three distinct topics: the operational struggles of Potcoin, a critique of police misconduct, and the impact of regulatory compliance on the Bitcoin industry.
Main Topics Discussed:
* Potcoin Issues: The coin faces significant hurdles, including low block rewards, and major exchanges (Cripsy, Bittracks, Polinex) are experiencing severe network issues, halting deposits and withdrawals.
* Police Misconduct: The speaker discusses a video of corrupt police officers raiding a dispensary in Santa Ana, CA, and criticizes the legal system for potentially shielding them from accountability.
* Bitcoin Regulation (BitLicense): Many Bitcoin companies are abandoning New York because the BitLicense requires prohibitively high compliance costs and restricts innovation, making it difficult to launch new products or services.
Key Quotes:
1. "You can't get anyone to adopt something that doesn't work." (Referring to Potcoin's current state)
2. "The cost of compliance is not worth the income that it may generate." (Regarding the NY BitLicense)
3. "I'm sure larger companies incurred much higher costs than we did." (Bill Shahara, founder of Bittrex)
People Mentioned:
* Bill Shahara (founder of Bittrex)
* (General mention of police officers/authorities)
Bitcoin Price:
* Not mentioned.