In 2008 Bitcoin, the world's first decentralized, anarchistic all-digital currency, was introduced to the world. Its value has risen, fallen and risen again and speculators, techies, libertarians and economists alike are taking it seriously.
In this episode, Josh and Chuck dive into the mysterious world of Bitcoin, the first entirely digital decentralized currency that's been one of their most requested topics ever. They explore Bitcoin's enigmatic origins with the pseudonymous creator Satoshi Nakamoto, explain how the peer-to-peer network operates through "mining" mathematical problems to process transactions and mint new coins, and discuss its wild price swings from pennies to hundreds of dollars. The hosts also cover Bitcoin's darker associations with anonymous purchases on sites like Silk Road, recent government crackdowns, and whether this revolutionary currency will survive or pave the way for something better.
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