#210 Alex Morcos: Chaincode Labs and Why Bitcoin is Our One Shot at Creating Digital Gold (letstalk)

Chaincode Labs Founder Alex Morcos joined us to discuss his journey, the role of the company in Bitcoin’s development and the views that drive his work.Topics discussed in this episode:Alex’s background in high frequency trading as a founder of Hudson River TradingHow Alex first learned about BitcoinThe vision of Chaincode LabsWhy Bitcoin represents our only chance of creating digital goldWhy Bitcoin’s resistance to change is one of its core featuresWhy the NYA & SegWit2x approach was…

Bitcoin

Every attempt to “improve” Bitcoin by creating another coin only serves to prove that Bitcoin’s value is as a secure store of value, thereby increasing its price as more people store their value in it.

If you peruse the various subreddits on the subject of crypto you'll see incredible frustration among the various communities behind other coins. Faster transactions, more transactions, larger blocks, faster blocks, turing completeness, confidential transactions – yet the price of bitcoin keeps going up without these.

Why?

Because bitcoin, at this stage in history, isn't about any of those things. Bitcoin is a system that can be used to reliably store value at no cost. Scarcity and security are the keys to value and you don't need any of those other features. And nobody has suggested any way at all to improve on these features of bitcoin.

So bitcoin keeps on winning on value and becomes the fastest growing way to store value. And of course, its value skyrockets as more value is crammed into it.

When the time comes to go from savings to spending, the competitive landscape will be very different. But you can't spend what you haven't earned and saved, and all of today's alternatives to bitcoin will have failed at earning the position of a savings vehicle.

submitted by /u/logical
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Bitcoin

Goldman Sachs Contemplates Creating a New Bitcoin Trading Operation (news.bitcoin.com)

Sources close to the American multinational finance company, Goldman Sachs, has revealed the firm is looking into creating a new trading operation that deals with bitcoin.
Also read: Hedge Funds Are Quietly Investing in Bitcoin
Goldman Sachs May Enter the Cryptocurrency Trading Arena
The Manhattan-based financial management service,…

Bitcoin