Junseth's World Episode 34: Too Big to Succeed - Bitsonline

Junseth’s World Episode 34: Too Big to Succeed

Did you know that most of the important lessons you need to learn about bitcoin and cryptocurrencies have already been learned — the hard way — by people decades before you? If you’re a regular Junseth’s World listener you probably do. And if you’re not, you should become one… before gamblers’ ruin gets you too.

Also see: Junseth’s World Episode 33: The Problem With Acid

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Junseth: Bitcoiners Don’t Donate

Lesson one is that you should never ask bitcoiners for donations. Of course, that idea has been dead since about, er, 2013 but some persist — e.g.: what Junseth calls “the most ridiculous lawsuit ever” against Roger Ver for daring to use his valuable domain name to suggest BCH is Bitcoin. What makes something actually bitcoin? It’s not as simple as you think.

Junseth has been reading “Fortune’s Formula“, a book full of its own valuable lessons from the past. First you find a winning formula; some inefficiency the market hasn’t noticed yet. Eventually the other players (in this case the casino) does and throws you out. Then eventually (if you’re lucky) it gets democratized and everyone finds it. If you’re unlucky, the mob discovers it… and then discovers you.

Hear this discussion and much more on this week’s Junseth’s World. You’ll also also find out about the Black-Scholes formula, why it might be inevitable that governments and banks develop their own bitcoin-like currencies (and why it’s not necessarily a bad thing), and more than you wanted to know about the “anal wink test”. Oh, and Ripple still doesn’t actually settle. Enjoy!

For the Uninitiated: WTF Is Junseth’s World?

JW hosts Junseth, Dante (where is he?) and Shawn are Bitcoin’s Florida Men. So far, none of them has ever overdosed on heroin and isn’t inclined to try.

Spawned from the greater Miami area blockchain scene, the three embody that region’s unique approach to life and business. They’ve seen and done things for Bitcoin you probably never imagined … and some you wished you could un-imagine.

Somewhere in the banter, you actually get a good education and some surprisingly useful insights into the world of finance, trading, business and economics. Subscribe to the entire series on Soundcloud.

Do you like Junseth’s World? What would you like us to look at next? Let us know in the comments.

Images via Pixabay

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