Today in Bitcoin (2018-05-04) - Bitcoin targets $10K Breakout - Bitcoin.com Lawsuit - Arizona Taxes

Here's a summary of the "Today in Bitcoin" podcast transcript from May 4, 2018:

1. Narrative Summary

This episode of "Today in Bitcoin" covers a range of topics impacting the cryptocurrency world. Bitcoin's price is hovering around $9,664, attempting to break through a key resistance level at $10,015, which could trigger a sustained rally. The podcast discusses the ongoing, and ultimately unsuccessful, class-action lawsuit against Bitcoin.com for mislabeling Bitcoin as Bitcoin Cash, highlighting the importance of understanding where you're buying your Bitcoin. The episode also touches on Arizona's legislative efforts to accept cryptocurrency for taxes, the unusual circumstances surrounding an Icelandic prisoner who escaped and then regretted his decision, Goldman Sachs' shift towards Bitcoin derivatives instead of trading Bitcoin directly, and a persistent Twitter scam targeting Bitcoin enthusiasts. The host emphasizes Bitcoin's unique nature and difficulty to value, drawing parallels to historical instances of gold manipulation and advocating for individual self-custody of cryptocurrency.

2. Main Topics Discussed

• Bitcoin Price & Technical Analysis: Discussing Bitcoin's price action, resistance levels, and potential for a breakout.
• Bitcoin.com Lawsuit: Update on the failed class-action lawsuit against Bitcoin.com for mislabeling Bitcoin Cash as Bitcoin.
• Arizona Crypto Taxes: Legislative efforts in Arizona to accept cryptocurrency for tax payments.
• Icelandic Prison Escape: The story of an alleged Bitcoin robber who escaped an Icelandic prison and subsequently regretted it.
• Goldman Sachs & Derivatives: Goldman Sachs shifting focus from Bitcoin to Bitcoin derivatives.
• Twitter Scams: Ongoing cryptocurrency scams on Twitter and the lack of platform protection.
• Bitcoin Valuation & History: Discussion on the difficulty of valuing Bitcoin and historical examples of gold manipulation.
• Self-Custody: Emphasis on the importance of individuals holding their own Bitcoin.

3. Key Quotes

• "Pay onto Caesar, that which is Caesar. But what if Caesar takes Bitcoin?" (Referring to Arizona's potential acceptance of crypto for taxes)
• "The whole point of the real Bitcoin is that you're supposed to hold your own coins in your own hardware wallet, in your own safe or safe deposit box, maybe even multiple." (Emphasizing self-custody)
• "Gold has severe flaws...with good key management and taking advantage of its trust-minimized global settlement." (Highlighting Bitcoin's advantages over gold)
• "The market is an attempt over time through buying and selling to determine the value of an asset." (Explaining how the market determines value)

4. People Mentioned

• Thomas Hunt: Host of "Today in Bitcoin"
• Nick Scapo: (Possibly Satoshi) - Mentioned for a tweet about gold and Bitcoin.
• John Gunn laughens: The alleged Bitcoin robber who escaped from an Icelandic prison.

5. Bitcoin Price

• Current Price (May 4, 2018): $9,664
• Resistance Level: $10,015
• Potential Rally Target: $10,455