Bad Crypto

Originally aired on September 7, 2023

In this episode of The Bad Crypto Podcast, hosts Joel Comm and Travis Wright discuss a new podcast app called Fountain.fm that allows listeners to earn Bitcoin while listening to podcasts. They are joined by Fountain co-founder Nick Molster, who explains how the app works and its potential for connecting creators with their audience. Fountain is built on the Bitcoin Lightning Network and offers features such as boosting podcasts with Satoshis, sharing clips, and leaving comments. The app aims to decentralize podcasting and provide a practical way for podcasters to monetize their content. The hosts express their enthusiasm for the app and encourage listeners to try it out.

The Problem with Podcasting:

• Nick Molster explains that podcasting has been held back due to its fragmented ecosystem and reliance on centralized platforms like Apple. Podcasts can be easily deplatformed, creating a need for a decentralized podcasting solution.
• Apple’s centralized library controls the distribution of podcasts across different apps.
• Adam Curry’s Podcasting 2.0 movement aims to decentralize podcasting and create new standards for the industry.
• Value for Value is a specification that integrates Bitcoin payments into podcast apps, allowing direct payments to podcasters.

Fountain’s Features:

• Nick Molster introduces Fountain.fm, a podcast app built on the Bitcoin Lightning Network that allows listeners to earn Satoshis for listening, sharing clips, leaving comments, and boosting podcasts.
• Listeners earn daily rewards for their first hour of listening, earn extra Satoshis by listening to promoted episodes, and receive tips from other listeners for their clips and comments.
• Podcasters can claim their show on Fountain and receive direct Bitcoin payments from listeners, driving podcast discovery through social interaction and boosting.

Boosting Podcasts with Satoshis:

• Fountain’s boosting feature allows listeners to send Satoshis along with comments to show their support for a podcast episode.
• Boosting a podcast not only supports the podcaster financially but also drives podcast discovery through a social layer.
• Boosted episodes are visible to the user’s followers, incentivizing engagement and creating a network effect.

Future of Decentralized Podcasting:

• Nick Molster discusses the future of decentralized podcasting and the addition of music to the Fountain platform.
• Fountain plans to support music podcasts, allowing musicians to publish tracks to an RSS feed and earn Satoshis from listeners.
• Combining music and podcasts opens up new possibilities for creating music radio shows and DJs to engage with their audience.

Popular Podcast Categories on Fountain:

• Nick Molster mentions that Bitcoin podcasts have been quick to adopt the Fountain app, but other categories, such as gaming, politics, and liberty-focused podcasts, have also gained popularity.
• Fountain provides a space for podcasters to monetize their content and a platform for listeners to support their favorite shows.
• The app creates a bridge between the Bitcoin and podcasting communities.

The Bum Gun: Joel shares his experience with the “bum gun,” a spray hose commonly found in Southeast Asian countries for personal hygiene after using the toilet.

• The bum gun provides a more hygienic alternative to toilet paper and has become a popular method of cleaning oneself in those regions.

Originally aired on August 16, 2023

In this episode of the Bad Crypto Podcast, host Joel Comm is joined by his guest, Davin Michaels, to discuss the benefits of living in Puerto Rico and how it offers significant tax advantages. Puerto Rico is a U.S. territory, and by becoming a resident, individuals can pay only 4% in federal income tax and zero capital gains and dividend taxes. The episode also introduces the San Juan Social Club Cruise, where residents of Puerto Rico and those interested in the area can network and learn about the opportunities and benefits the island has to offer. The cruise will feature notable speakers from various industries, including the cryptocurrency sector.

What are the benefits of living in Puerto Rico?

• Puerto Rico offers significant tax advantages, including a 4% federal income tax rate and zero capital gains and dividend taxes.
• Act 60 combines various government programs and incentives, such as tax breaks for entertainment ventures, hospitality credits, and the opportunity to invest in designated opportunity zones.
• Puerto Rico’s charm and friendly atmosphere, along with its beautiful beach and year-round pleasant weather, make it an appealing place to live.

What is the San Juan Social Club Cruise?

• The San Juan Social Club Cruise is a networking and educational event for residents of Puerto Rico and those interested in the area.
• The cruise will take place in April 2024, departing from San Juan, Puerto Rico, and visiting Aruba, Curacao, Martinique, and Saint Kitts and Nevis.
• Participants will have the opportunity to connect with like-minded individuals, including notable speakers from various industries, such as Joel Comm, John Lee Dumas, and crypto billionaire Brock Pierce.
• The cruise will include Michelin-star inspired dining options, ample opportunities for networking, and access to the latest information on Puerto Rico’s resources, benefits, and services.

What is the outlook for the cryptocurrency market?

• Despite the current bearish period in the cryptocurrency market, there is optimism that a turnaround is approaching.
• The introduction of BlackRock and mainstream adoption through ETFs is expected to drive an influx of money into the market, potentially leading to a new bull run.
• The previous bear market was turned around by significant announcements from Michael Saylor, PayPal, and Elon Musk. The consensus is that BlackRock’s involvement may have a similar effect on the market.

Originally aired on August 9, 2023

In this episode of the Bad Crypto, hosts Joel and Zach talk with Dan Mapes, co-founder of the spatial web, about the future of the internet and its potential to revolutionize the way we live, work, and communicate. They discuss the concept of the spatial web, which envisions a 3D internet where the physical and digital worlds merge, and the power of AI and blockchain in enabling this new technology. Dan emphasizes the importance of autonomy and decentralization, highlighting how the spatial web gives power back to the people and reduces the influence of central authorities. He also discusses the role of active inference in AI and the need for robust governance models to navigate the challenges of the evolving technology landscape.

What is the spatial web?

• The spatial web is a 3D internet where the physical and digital worlds merge.
• It is a vision of the internet where the Internet of Things becomes a reality.

How does the spatial web empower individuals?

• The spatial web gives power back to the people and reduces the influence of central authorities.
• It allows for more autonomy and decentralization.

What is active inference in AI?

• Active inference is a different approach to AI that focuses on real-time decision-making based on the interaction with the environment.
• It enables AI to make more accurate predictions and decisions by using real-time data from IoT devices.

How can the spatial web address governance challenges?

• The spatial web can provide a platform for developing guardrails and standards.
• It allows for the identification and regulation of malevolent AI applications.

What role does cryptocurrency play in the spatial web?

• Cryptocurrency, such as Bitcoin, can be used as a native currency for the digital economy enabled by the spatial web.
• It offers a decentralized and efficient means of conducting transactions within the 3D internet.

What is the future of AI governance?

• The future of AI governance lies in creating robust regulations and standards.
• It requires collaboration between various stakeholders, including governments, organizations, and individuals.

Originally aired on August 2, 2023

In this Bad Crypto Episode, Henning Deidrich discusses how Lexon, a plaintext programming language, makes blockchain smart contracts more readable in plain English. With a background in blockchain technology and experience working with IBM and the Ethereum development team, Henning introduces Lexon as a tool to bridge the gap between legal contracts and smart contracts. He demonstrates how Lexon can be used to write a smart contract in plain English and how it can be translated into Solidity, the programming language used on the Ethereum blockchain. He also mentions the potential use cases of Lexon, including its compatibility with different blockchains like Ethereum and The Eternity Chain.

Smart Contracts Made Easy with Lexon

• How does Lexon make blockchain smart contracts more readable?
• Can you write a smart contract in plain English using Lexon?
• How does Lexon translate a smart contract into Solidity?
• What are the potential use cases of Lexon?
• Is Lexon compatible with different blockchains like Ethereum and The Eternity Chain?

Originally aired on July 19, 2023

The Looming Threat of Quantum Computers to Bitcoin and Blockchain

This episode explores the potential impact of advancing quantum computer technology on the future security of Bitcoin and blockchain. Quantum physicist Pierre-Luc Dallaire-Demers provides insight into how quantum computers work and why they pose a threat to current cryptography methods used in blockchain and finance.

While quantum computers are not faster in terms of processing speed, they enable calculations using the uncertain properties of subatomic particles that allow exponentially more computational complexity. This gives quantum machines the power to eventually break types of encryption previously thought secure, including the cryptographic signatures used in Bitcoin.

Dallaire-Demers explains the exponential growth in qubits and operations per second that quantum computers will achieve in the next 5-10 years. Though the timeline is debated, he warns Bitcoin’s signatures are among the easiest for quantum algorithms to crack. Upgrading blockchain cryptography will be challenging due to coordination difficulties in decentralized systems.

Dallaire-Demers advises cryptocurrencies must prepare now with “quantum-resistant” cryptography or risk losing user confidence as quantum supremacy draws nearer. He believes opportunities may arise for quantum-resistant coins if Bitcoin does not adapt. The episode concludes with a discussion of combining quantum computing with AI, and concerns over unknown advances taking place out of public view.

How do quantum computers differ from classical machines?

• Leverage quantum properties like particle uncertainty
• Allow exponentially more computational complexity
• Enable calculations impossible via classical means

Why does advancing quantum computing threaten blockchain security?

• Will break encryption previously thought computationally infeasible
• Includes signatures used to secure Bitcoin transactions
• Timeline to “quantum supremacy” over classical computers debated

What cryptographic risks do quantum computers pose to Bitcoin?

• Bitcoin signatures among easiest for quantum algorithms to crack
• Could reduce confidence even before attacks feasible
• Upgrading blockchain cryptography presents coordination challenges

What potential opportunities does quantum resistance offer?

• “Quantum-resistant” cryptographic coins could arise
• Chance for new projects if Bitcoin does not adapt cryptography
• But quantum-resistant upgrades advised for most chains

What concerns exist around unknown quantum progress?

• Quantum and AI may also combine in unforeseen ways
• Military may possess undisclosed advanced quantum capabilities
• True capabilities and timeline cannot be predicted

Originally aired on July 13, 2023

In this episode of Bad Crypto, Joel and Travis discuss the potential threat of quantum computing to the Bitcoin network. Google has recently announced the development of a powerful quantum computer capable of performing calculations that would take supercomputers years to complete. If quantum computing could crack the encryption of Bitcoin, it would pose a significant risk to the network’s security. The article explores the implications of this technology and the need for post-quantum encryption to safeguard cryptocurrencies.

Will quantum computing destroy Bitcoin?

• Google’s new quantum computer could pose a major threat to the Bitcoin network.
• Quantum computing has the potential to crack the encryption of Bitcoin and other cryptocurrencies, making them vulnerable.
• Bitcoin’s current encryption could be cracked in about 10 minutes with advanced quantum computers.
• Post-quantum encryption standards are being developed to protect cryptocurrencies from quantum attacks.
• Quantum computing not only affects the security of Bitcoin but also poses a risk to national security and data protection.
• The Bitcoin protocol may need modifications to ensure its resistance to quantum computing.

Originally aired on June 28, 2023

In this episode of the Bad Crypto Podcast, Corey Whitaker from ENS Labs discusses the importance of decentralized digital identities with ENS domains. ENS (Ethereum Name Service) provides human-readable names for wallet addresses, simplifying the process of sending and receiving cryptocurrencies. By overlaying human-readable names on wallet addresses, ENS aims to improve adoption by reducing the complexity of these addresses. Additionally, ENS domains can be connected to multiple chains, offering a unified approach to digital identity across different blockchain networks.

Decentralized Digital IDs with ENS Domains:

• What is ENS and how does it simplify the process of sending and receiving cryptocurrencies?
• How does ENS overlay human-readable names on wallet addresses?
• What benefits does decentralized digital identity offer over traditional social media platforms?
• Can multiple ENS domains be connected to the same wallet?
• How does ENS enable individuals to own and control their own identities?
• Apart from dot eth, can other domain extensions be used with ENS?

Originally aired on June 22, 2023

Bitcoin has surpassed $30,000 again, with traditional financial institutions planning to offer ETFs for digital assets. This news, along with a fluctuating economy, could have implications for June 21, 2023.

What is causing Bitcoin’s rise and what does it mean?

• Bitcoin has surged over 30%, with a 16% increase in the past seven days.
• The US government has been slow to regulate, but may soon allow BlackRock to have a Bitcoin spot ETF, potentially allowing them to acquire most of the Bitcoin on central exchanges.
• Bitcoin’s dominance has been hovering around 50% and may signal becoming the Supreme king daddy among digital assets.
• Trader Peter Brandt predicts Bitcoin will outperform all other digital assets, suggesting some altcoins may fade away.
• The US government has passed a debt ceiling bill, removing the ceiling and allowing them to print endless amounts of money, potentially further devaluing the dollar.
• Concerns arise as BlackRock is one of the world’s largest asset managers, which according to James O’Keefe’s investigative report, they influence politicians and manipulate economies.

Originally aired on June 14, 2023

Matt Wolfe, a prominent journalist covering the AI space, explores how AI is being adopted by different entities and is impacting the world. He is the founder of FutureTools, a website that provides different AI tools and resources.

Exploring the AI World with Matt Wolfe

• Matt Wolfe has been closely following the AI space and tracking its impact.
• He started creating tech-related content in 2009, covering digital marketing and WordPress plugins.
• In mid-2020, he started exploring AI and began creating AI-related video content on his YouTube channel.
• His AI videos gained enormous popularity, and he then founded FutureTools, a website that provides a list of AI resources and tools for users.
• FutureTools started as a Google sheet that Matt used to track different cool AI tools, and now it comprises around 1700 resources.
• Matt’s contribution to the field of AI has attracted a lot of attention, and he has become a leading figure in the field.

Originally aired on May 17, 2023

The Tuttle Twins series is teaching children about Bitcoin and cryptocurrency through fun and educational cartoons. Creator Daniel Harmon discusses how the show is inculcating values of freedom, liberty, and virtue into children’s lives.

How is Tuttle Twins Teaching Kids About Bitcoin?

• The cartoon is the first of its kind to teach principles of freedom and economics to kids in a fun and engaging way.
• The Tuttle Twins book series on which the show is based makes concepts like rights, free markets, and entrepreneurship understandable for kids and parents alike.
• The show’s creators raised a record-breaking $3.7 million via crowdfunding to fund the first season.
• Episodes cover important topics like inflation and explain how Bitcoin is different than the dollar and what makes it hard money.
• The show is available for free on the Angel app, which also features other family-friendly content like The Chosen.
• The show’s emphasis on values like freedom, liberty, and virtue is an important factor in teaching kids about Bitcoin and cryptocurrency.

Originally aired on May 10, 2023

Summary

Bitcoin is no longer just for payments, as ordinals have paved the way for NFTs on the Bitcoin blockchain. Ordinals give unique IDs to each mined sat, allowing for images and other data to be inscribed into them, thus creating an NFT that can be bought and sold.

What is an ordinal and how does it work on Bitcoin?

• The ordinal protocol gives each mined sat a unique ID.
• This ID allows for data like images to be inscribed into the sat, making it an NFT.
• All data is 100% on-chain, making Bitcoin a secure and decentralized database.
• The Taproot upgrade unlocked unlimited data storage on Bitcoin.
• However, storing data on Bitcoin comes with a higher cost due to the replication and decentralization across all full Bitcoin nodes.
• Ordinals are becoming increasingly popular, with high volume on their marketplace and big players like Yuga Labs, Bugatti, and d-gods from Solana participating.

Originally aired on

Sheila Warren, CEO of the Crypto Council for Innovation, discusses which countries are paving the way for crypto and blockchain innovation and how to advance these technologies globally. Warren highlights the challenges of navigating crypto governance and economics, connecting disparate systems, and working with policymakers in Washington.

Which countries are leading the way in crypto and blockchain innovation?

• Sheila Warren discusses which countries are doing a great job of stimulating innovation in the crypto and blockchain space.

How can we advance crypto and blockchain technology globally?

• Sheila Warren shares her insights on advancing technology both domestically and internationally by connecting different systems and advocating for sound crypto policy.

What are some challenges of navigating crypto governance and economics?

• Warren shares her thoughts on navigating the complex world of crypto governance and economics, which involves understanding technical nuances and making a case for why crypto is so important.

How do we connect disparate systems?

• According to Warren, connecting diverse systems is key to making the case for crypto and blockchain, including pointing out where legacy systems are not working and where friction remains a problem.

How do we work with policymakers in Washington?

• Warren explains that policymakers in Washington have limited understanding of crypto and web 3.0, and that the crypto community needs to find ways to access information and educate them on the importance and potential of these technologies.

Originally aired on April 26, 2023

Mati Greenspan, founder of Quantum Economics, discusses the potential end of US dollar dominance, Bitcoin price predictions, and the impact of regulation on cryptocurrency.

• Will Bitcoin replace traditional finance?
• Could Bitcoin transaction fees skyrocket?
• Is the end of the US dollar’s dominance as the world’s dominant currency near?
• Mati Greenspan’s price prediction caused a two thousand dollar spike within hours.
• The SEC’s regulation of cryptocurrency and Gary Gensler’s lack of experience has caused concern within the industry.
• The banking crisis has added fuel to the fire for Bitcoin’s popularity as a safe alternative.

Originally aired on April 20, 2023

Bitcoin mining is on the rise, but SEC Chairman Gary Gensler’s comments have led to calls for his resignation. Israel considers a digital shekel, while Bittrex exits the United States due to regulatory uncertainty. Will crypto remain decentralized or become subject to government control?

Will The U.S. Government Control Crypto?

• Bitcoin mining increases as SEC chairman faces backlash
• Bittrex exits the U.S. due to regulatory pressure
• Israel considers a digital shekel
• Crypto could face government control as CBDCs emerge

Originally aired on April 12, 2023

Book.io is a new blockchain-based platform that aims to solve the problem of not owning digital assets purchased online by using decentralized encrypted assets (DEAs) to validate ownership of content while also protecting it through DRM.

How does Book.io solve the problem of not owning digital assets?

• Book.io uses DEAs to validate ownership of content on the blockchain.
• The platform breaks down book files and encrypts them into many small chunks before storing them in decentralized storage.
• A dap reader then verifies ownership before streaming in the encrypted chunks and reassembling them into readable content.
• Unlike traditional NFTs, Book.io’s system keeps the content encrypted and protected through DRM.

Originally aired on May 31, 2023

The US government has opened an investigation into Binance and its CEO CZ for selling illegal securities. Meanwhile, liquidity for Bitcoin is dropping and the price of gold is rising. Despite all this, Bitcoin is holding up as a hedge against the collapse of the US dollar.

Will CZ Get Arrested?

• The US government is investigating Binance and its CEO CZ for selling illegal securities.
• Liquidity for Bitcoin has dropped to a 10-month low.
• Gold is trading at over $2,000 per ounce as a hedge against the US dollar.
• Despite all this, Bitcoin is holding up as a hedge against the collapse of the US dollar.

Originally aired on March 29, 2023

Senator Eric Brakey discusses the war in Ukraine, the banking crisis, and his efforts to pass common sense crypto legislation to represent and protect the people.

The Background of Senator Eric Brakey

• Senator from Maine
• Started as a grassroots Ron Paul campaigner
• Passed good laws like Constitutional Carry and medical cannabis expansion
• Ran for US Senate against Angus King in 2018
• Came back to Maine, ran for State Senate, and is serving his third non-consecutive term

Ron Paul and Libertarian Ideology

• Ron Paul as a model against which every modern day office holder should be measured
• Educated young people about the dangers of central banking and the true nature of government
• Bernie Sanders and Ron Paul share similarities as ideological elders
• Ron Paul encourages exploration of ideas through reading, while Bernie Sanders promotes a shallow interpretation

Divisiveness in the Media

• Possible inaccuracies in mainstream media due to the repeal of the Fairness Doctrine
• Congress and media figures used to present multiple viewpoints in the past
• Divisiveness and propaganda narratives being used to shift power relationship between government and citizens

Originally aired on March 23, 2023

Originally aired on March 13, 2023

Traditional Financial World in Trouble

• Silicon Valley Bank, Signature Bank, and Silvergate Bank have suffered significant financial losses, with all three serving as on and off-ramps for cryptocurrency.
• The US government has provided another bailout to stop the contagion, and the USD coin even de-pegged at one point over the weekend, with Tether also experiencing volatility.
• This collapse of large traditional banks may have implications for the world of crypto and blockchain, warranting analysis and news coverage.

US Banks in Crisis and Implications for Crypto

• Three major US banks that deal with cryptocurrency have experienced large financial losses and required a government bailout.
• This news has implications for the crypto world, causing USD coin to de-peg for a short time and Tether to also experience volatility.
• The collapse of these traditional banks may lead to financial instability and warrant ongoing analysis and coverage of economic news.

Originally aired on March 10, 2023

The US Federal Reserve states that it doesn’t want to hinder the growth of cryptocurrencies, but the industry appears to be leaving the US, while $1bn worth of Silk Road Bitcoin may be up for sale by the government. Legal fees are proliferating, too as ambulance chasers target FTX users. However, DAO coins have received legal recognition in Utah.

Is regulatory uncertainty driving cryptocurrency companies out of the US?

• Ripple CEO Brad Garlinghouse claims that there is no clear regulatory guideline available in the US, and that countries such as Singapore and Switzerland are more attractive for crypto companies.
• The Federal Reserve is aware of the situation and emphasises the importance of balance in regulatory approaches.

Has the US Government sold Silk Road Bitcoin?

• The US government seized 50k Bitcoin from Silk Road, and recently moved 9,861 of those coins to Coinbase.
• The Bitcoin was then split between three other wallets, raising suspicions of government sales.

Mark Sadi, CEO of X claim, explains how his company is helping investors recover some of the billions of dollars lost due to the bankruptcy of crypto services such as FTX, Celsius, and Voyager. X claim is a marketplace that allows account holders to trade their claims for cash and offer them for sale to investors.

How can investors recover their lost money through X claim?

• X claim allows account holders from bankrupt crypto services to list their claims for sale on their platform.
• Buyers can purchase these claims and wait for potential payouts in the future.
• Sellers can cash out their losses and reinvest their money elsewhere.
• Institutional and retail investors are interested in buying these claims.

Originally aired on March 1, 2023

Joel, a seasoned crypto expert, got phished for his NFTs, proving that anyone can fall victim to phishing scams. In this episode of the Bad Crypto podcast, Joel shares his experience and offers advice on how to protect oneself through technology and hyper-awareness.

How did Joel get phished for his NFTs?

• Joel engaged with someone he didn’t know on Discord who claimed to be a mod from the NFT group he was in.
• The individual screenshot Joel’s alleged spam post and claimed that he was banned from the group, leading to Joel’s removal from the group.
• The attacker directed Joel to a fake Discord server and prompted him to verify his wallet address through a collab land verify, alerting the attacker through his phone’s Ethereum app.
• The attacker then attempted to wipe Joel’s wallet using 37 pending transactions.

Originally aired on February 17, 2023

Stablecoin Crackdown: SEC Targets Circle’s USDC

• Stablecoins like USDC and BUSD are designed to be stable when all else fails in the crypto market
• The SEC is soon expected to issue an enforcement notice to Circle over USDC, after already sending one to Paxos
• Gary Gensler, the SEC chairman, is suggesting that stablecoins could be considered securities
• Rumors are circulating about government scrutiny of crypto staking, with Circle’s USDC being caught in the crosshairs
• Senator Cruz has proposed vending machines in the Capitol building that take crypto for payment

Stability of Stablecoins in Question as SEC Targets Circle’s USDC

Meta description (250 characters max): Find out more about the SEC’s potential crackdown on stablecoins, including Circle’s USDC, and the implications for the crypto market.
Meta description (100 characters long): Discover how the SEC’s scrutiny of stablecoins, like Circle’s USDC, could affect the crypto market.
Keywords/keyphrases: stablecoins, USDC, SEC, enforcement notice, crypto staking, crypto payments

Originally aired on February 06, 2023

The United States Congress will hold a crypto crash hearing on February 14, 2023, where lawmakers will discuss the regulatory framework for cryptocurrencies. Meanwhile, old school investor Charlie Munger thinks the government should ban cryptocurrencies while Michael Saylor disagrees and says Munger doesn’t understand Bitcoin. The NFT market is experiencing a comeback with SingularityNet up 117%, and Zoomer Shiba Inu up 24%. FTX has invested in many projects, and if some of them blow up and get huge, investors may end up getting their money back while retail may get screwed.

Should Congress Regulate Cryptocurrencies?

• The US Congress is scheduled to hold a crypto crash hearing, where lawmakers will discuss the regulatory framework for cryptocurrencies.
• Charlie Munger thinks cryptocurrencies should be banned, while Michael Saylor disagrees and says Munger doesn’t understand Bitcoin.

NFT Market Resurgence

• SingularityNet has experienced significant growth at 117% while Shiba Inu is up 24% signaling a NFT market comeback.

FTX’s Massive Investments

• FTX has invested in several projects that may blow up and if they get huge, investors may get their money back while retail may get screwed.

Originally aired on January 31, 2023

Bitcoin and other cryptocurrencies are on the rise, as the total crypto market cap reaches over a trillion dollars. Circle’s USDC stablecoin has reported that it has a dollar for dollar backing of its reserves. Amazon is rumored to be planning an NFT initiative in the near future.

Is Amazon Entering the NFT Space?

• Amazon has announced plans to enter the NFT space, beginning with blockchain gaming.
• This move has been anticipated for some time, as job postings have hinted at Amazon’s interest in web3 technology.

Originally aired on January 26, 2023

In this Bad Crypto Podcast episode, Dor Garbash from the Mina Foundation introduces Zero Knowledge Proof (ZKP) and explains why it is essential for building a web 3 future with privacy and scalability in mind. ZKPs can address scalability issues, make validation more succinct, and enhance privacy in data sharing.

• What are the benefits of Zero Knowledge Proof?
  • ZKPs address scalability issues by building scalability solutions using layers.
  • They provide succinctness by compressing and condensing blockchain validation to a smaller size.
  • ZKPs enhance privacy by enabling mathematical proofs of identity without revealing sensitive information or the context surrounding it.
• How is ZKP more secure than traditional blockchain methods?
  • Cryptographic primitives make ZKP mechanisms complicated but secure and similar to blockchain.
  • ZKP replaces the need for an Oracle or third party, making it even more secure.
• What are some potential use cases of ZKP?
  • Decentralized voting systems and loan applications without revealing personal details.
  • Identity verification without sharing social security numbers or other sensitive information.
• ZKP requires a shift in mindset towards data sharing and privacy protection on the blockchain.
• ZKP can enhance blockchain network efficiency and make it more accessible for everyday people.
• The Mina Foundation is advancing the use cases of ZKP through its developments in decentralized applications and network topologies.

Originally aired on January 19, 2023

Raymond Baker, the author of “Invisible Trillions,” claims that capitalism has been corrupted by those who seek to benefit themselves at the expense of society. This crony capitalism poses a direct threat to real democracy, and Baker offers insights into the flaws of today’s financial systems and possible solutions. Klaus Schwab also makes an appearance, discussing eating crickets and the latest fashion trends.

Is Capitalism Threatening Democracy?

• Capitalism has been corrupted by corporations and banks who operate outside the control of democracy and regulation.
• Corporations use financial secrecy to move money across borders, beyond the capacity of local officials to detect.
• Banks are willing to accept dirty money because they like the money that flows into their economy to balance trade and fiscal deficits.
• The world has become reliant on the financial secrecy system to function, and this poses a threat to democracy.