2 Bitcoiners with Ansel Lindner

Podcast

Nov 2

Bitcoin has disrupted the finance world and promises to revolutionize how we define finance itself. Being decentralized and granting the regular person financial autonomy is a huge deal in a world where the elites run the show. But Bitcoin is far from perfect, and for something with such significance, there's going to be contention. Also, the establishment is not going to be exactly elated about something that could potentially topple it all.

In this '2 Bitcoiners with Ansel Lindner' episode, Brad is joined by Ansel Lindner, a popular Bitcoin Twitter personality who also hosts the Bitcoin & Markets podcast. Brad and Ansel take positions on various issues concerning Bitcoin - from technical to ideological to political. Also, Ansel talks about what to expect on his Bitcoin and Markets podcast.

#1. Bitcoin vs Altcoins

Bitcoin has inspired thousands of cryptocurrencies. A good number of them were created to do what it does, but better. Developers can invent all manner of cryptocurrencies, but commanding the same reverence or matching its success will be a tall order.

Ansel observes that most of these altcoins are competing with Bitcoin - and with each other - on features. And while he "empathizes" with their goal of helping humanity, he thinks offering the next cool feature isn't going to cut it. "When you compete on features you're asking to be outdated", he says. A cryptocurrency has to offer more for staying and competitive power, and for Bitcoin, that's scarcity. Bitcoin's fixed supply of 22 million coins makes it rare, as opposed to coins like Litecoin, which has 84 million.

#2. Roger Ver, SegWit, and BCH

Roger Ver is one of the space's most polarizing individuals. Once known as 'Bitcoin Jesus' for being an early investor and vocal supporter of Bitcoin. However, Ver is now the Jesus of Bitcoin Cash after leading the effort to hard fork Bitcoin in 2017. Ver opposed solving Bitcoin's scalability issues with SegWit and insisted on a larger blocksize, leading to the hard fork. Ver also bought and registered the website Bitcoin.com, which actually shills for Bitcoin Cash and is confusing for beginners.

Both Brad and Ansel agree that while Ver made positive contributions to Bitcoin and helped evangelize it, his adopted negative stance on the currency is of no help at all. However, Bitcoin has proven to be resilient against attacks and mischaracterizations and just roars on. As Brad puts it, "the market has decided." Most people have decided which cryptocurrency between the two to go for speculation, investment, and a hedge against inflation. We know that currency is Bitcoin.

#3. Bitcoin and Hardworking

Brad and Ansel delve into the issue of hardforks and Bitcoin. Brad is of the idea that a hard fork is okay, as long as it has community consensus, unlike developers steamrolling the process. But Ansel thinks forking Bitcoin is interfering with the properties that have made it what it is and makes its future uncertain. "Bitcoin will no longer be gold, it will be some malleable metal like aluminium or something." It's quite an interesting way to put it, and one's that hard to disagree with.

Part of the allure of Bitcoin is being able to stay as Satoshi intended. When you change from that, you take away from its authenticity and original purpose. And by that, you devalue it.