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b'This week we talk about what Bitcoin is, how it works in theory, how it works in practice, and what the criticisms are.\\n\\n\\n\\n \\tThe feedback form is at htotw.com/contact\\n \\tLeave us voice message at +1 (208) 996-8667 or htotw.com/speakpipe\\n \\tSupport the show on a monthy basis with Patreon or just once with PayPal, credit or debit card, Apple Pay, or Google Pay links are at htotw.com/donate\\n \\tSubscribe at htotw.com/subscribe\\n \\tJoin our Discord server at htotw.com/discord\\n\\nCrypto\\n\\n \\tDisclosure - I own 0.00666 Bitcoins\\n \\tWhat is a block chain\\n \\tWhat\\u2019s a transaction\\n\\n \\tOn chain\\n \\tOff chain\\n\\n\\n \\tWhy is cryptocurrancy a thing?\\n\\n \\tDecentralized - No one entity owns it\\n \\tUniversal - Not tied to fiat currencies\\n \\tPrivate - Can\\u2019t be tracked and tied to your personal identity\\n\\n\\n \\tHow\\u2019s that worked?\\n\\n \\tAs of April 3, 2022 the top 10,000 addresses or about 0.03% (0.0277794%) own about 60% (59.16%) meaning the remaining 99.97% own the remaining 40%\\n \\tUntil China banned mining in 2021 60-70% of all mining was in China\\n \\tUniversal - Can get around sanctions\\n \\tPrivate - KYC\\n \\tFees on transactions can easily match Paypal, Stripe, or Credit Cards\\n\\n\\n \\tCriticisms\\n\\n \\tVolatility - It\\u2019s gambling\\n \\tIt\\u2019s insecure - By 2017 data breaches resulted in about 1 million bitcoin being stolen from exchanges\\n \\tAn estimated 20% of bitcoin have been lost due to people losing their private keys\\n \\tCrime - Estimated to be about 3%, but transcations still happen between KYC exchanges and Russian black market exchanges\\n \\tClimate\\n\\n\\n\\nSources\\n- https://mitsloan.mit.edu/ideas-made-to-matter/bitcoin-who-owns-it-who-mines-it-whos-breaking-law\\n- https://bitinfocharts.com/\\n- https://en.wikipedia.org/wiki/Bitcoin#Design\\n- https://news.climate.columbia.edu/2021/09/20/bitcoins-impacts-on-climate-and-the-environment/\\n- https://www.bbc.com/news/technology-56012952\\nFeedback\\n\\n \\tAlan via the contact form about Time Zones\\n\\nThis episode is brought to you by:\\n\\n \\tHenry K\\n \\tDanielle\\n \\tPat Acks from the Humanists of Idaho\\n \\tSoJo\\n \\tBig Easy Blasphemy\\n \\tDarryl G\\n \\tArthur K\\n \\tSamuel C\\n \\tBeatriz A\\n \\tLevi C\\n \\tRichard G\\n \\tBal\\xe1zs\\n \\tSteve F\\n \\tBrad R\\n\\nAnd by our $1 patrons and those who want no reward.\\n\\n\\n\\nContact information, show notes, and links to Social Media and the like can be found at https://htotw.com\\n\\nThe music in this episode is:\\n\\nWelcome to the Show by Kevin MacLeod\\nLink: https://incompetech.filmmusic.io/song/4614-welcome-to-the-show\\nLicense: https://filmmusic.io/standard-license\\n\\nNewsSting by Kevin MacLeod\\nLink: https://incompetech.filmmusic.io/song/4124-newssting\\nLicense: https://filmmusic.io/standard-license\\n\\nDitty Pong by Kevin MacLeod\\nLink: https://incompetech.filmmusic.io/song/4676-ditty-pong\\nLicense: https://filmmusic.io/standard-license\\n\\nDisco Sting by Kevin MacLeod\\nLink: https://incompetech.filmmusic.io/song/3653-disco-sting\\nLicense: https://filmmusic.io/standard-license\\n\\nSweeter Vermouth by Kevin MacLeod\\nLink: https://incompetech.filmmusic.io/song/4450-sweeter-vermouth\\nLicense: https://filmmusic.io/standard-license\\n\\n\\n\\nFull shownotes can always be found at https://htotw.com/5\\nDownload episode'