Carpe Consensus

Crypto has deep roots in the privacy space. But today’s bitcoiners aren’t quite as skittish about sharing their ID as the maximalists of yesteryear were. This week on “Opinionated,” Lili Rhodes of Foundation Devices argues why they should. Keeping one’s identity hidden – away from the government, from companies, from counterparties – is a table-stakes demand in the privacy game. 

Does it have to be? Anna Baydakova, Danny Nelson and Ben Schiller  spar over the nature of modern-day privacy, where and why it's necessary, and whether bitcoin has been “corrupted” by those who link trades with names. For those who think it has, buying beyond the banks and exchanges is a must. Check out CoinDesk’s “Privacy Week” package for an inside look. 

You scanned your ID at the bitcoin checkout, anon? Anna wrote a guide to help you do better next time ;)

This episode was produced, announced and edited by Michele Musso. Our theme song is by Elision.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

This week on “Opinionated,” the gang dives deep into some big news out of Russia, looks at the issue of rampant intellectual-property theft with NFTs and examines Vitalik Buterin’s idea for synthetic wombs. 

(Yes, you read that last one right. The founder of Ethereum thinks babies should be made in Cosmic Cocoons.)

Could Russia ban crypto? That’s a possibility raised by a highly critical Bank of Russia report this week. It said cryptocurrencies are volatile and widely used in illegal activities, such as fraud. The report called for the Kremlin to outlaw mining and issuance, if not the holding of crypto.

Anna Baydakova said banning bitcoin would be a “nightmare” if the West imposes further financial sanctions should Russia invade Ukraine.

Next up, we spoke with Sam Ewen, head of CoinDesk Studios, about an op-ed he wrote this week (“The Balance Between Art and IP Theft in NFT Culture”). Unauthorized NFT projects like MetaBirkins, The Squid NFT and Non-Fungible Olive Gardens have been making thousands of dollars. Ewen expects Web 3 to change the norms around IP online, posing headaches for brands and platforms like OpenSea. 

Finally, the gang unpacked Buterin’s baby pod idea, which he floated as a means of female empowerment:

“Disparities in economic success between men and women are far larger once marriage+children enter the picture. Synthetic wombs would remove the high burden of pregnancy, significantly reducing the inequality,” he wrote on Twitter.

While it might be admirable for a tech leader to care about gender inequality (everyone should care more about that!), the team didn’t rate the idea too highly. It smacks of techno-Utopianism. 

As we wait for pods to arrive, there may be more practical solutions, noted Baydakova. Like, say, paid maternity leave. 

This episode was produced, announced and edited by Michele Musso. Our theme song is by Elision.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

2022 has just begun. What will the hot topics in crypto be this year?

On this episode of “Opinionated,” hosts Ben Schiller, Anna Baydakova and Danny Nelson kick off the new year with a discussion on the future and purpose of emerging technologies such as Web 3 and decentralized autonomous organizations (DAOs). Though both include egalitarian philosophical interests like freedom, democracy, self-custody and decentralization, many worry the ideals will fall as well-funded companies and individuals step in.

How will the ideals of Web 3 and DAOs pan out as the technology develops further?

This episode was produced, announced and edited by Michele Musso with additional production support by Eleanor Pahl. Our theme song is by Elision.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

This week, “Opinionated” hosts Ben Schiller, Anna Baydakova and Danny Nelson are talking about the most exciting and most annoying things that happened in crypto this year.

For Ben, the crypto hearings in the U.S. Senate – a whole bunch of them, actually! – really marked this year. Now it’s clear cryptocurrencies have some prominent opponents on Capitol Hill including Sen. Elizabeth Warren (D-Mass.). What will the crypto politics be in 2022? Ben has some ideas.

On another regulatory note, this year the U.S. started an offensive on illegal crypto use, and also demonstrated that the seemingly decentralized and global world of blockchains is not above sanctions policies. That offensive might expand in 2022, Anna believes.

And, of course, NFTs! What would characterize this year better? Whether the hype will die down or the NFT wave will keep engulfing the world in 2022 is up in the air, but Ben, Anna and Danny have theories to share.

Also in this episode: Ben singing and Danny as the Crypto Grinch. Enjoy your holidays!

Mentioned in this episode:

• Robert Reich: The crypto-congressional complex
• Senate Banking Committee Bashes Bitcoin's 'Phony' Populism
• This Imprisoned Russian Artist Is Selling NFTs to Support His Family and Fellow Inmates
• ConsenSys Suddenly Bars Iranian Students From Ethereum Coding Class
• Chatex Users Ask US Treasury to Release Crypto Frozen by Sanctions

This episode was produced, announced and edited by Michele Musso. Our Holiday theme music is by Hill and Dresden.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

This week on “Opinionated,” we sit down with David Z. Morris, CoinDesk’s chief insights columnist. 

DZM gives us the highlights and lowlights from 2021, and looks ahead to 2022. 

His highlight? El Salvador. 

“For me, the bitcoin policy in El Salvador was the landmark moment of the year,” he says. 

El Salvador has been buying bitcoin at a rapid clip, attracting bitcoin entrepreneurs. It has issued a “Bitcoin Bond” that’s available to nationals through the Chivo bitcoin wallet. 

This points to how bitcoin may point to an opportunity for indebted nations that are often excluded from traditional credit markets to find new ways to grow. 

“It potentially gets El Salvador and other countries out of the yoke of the [International Monetary Fund] and World Bank, which maybe do some good work but by and large have not been great actors over the last 30 years,” Morris said.

DZM’s lowlight?

Tesla CEO Elon Musk, the man who needs no introduction. 

“Elon Musk has to be top of that list of things that annoyed me this year. He’s a guy with a ton of influence who decided he was curious about crypto and didn’t want to bother learning anything about it, and then came in and created a lot of disruption in the market and confused a lot of people. 

“I don’t think there’s anywhere to go for his reputation other than down from here,” Morris said. 

“You’ve got to be not just nuts but somewhere on the not-caring-about-other-people spectrum to have a million of followers and tweet #baby doge with no context or explanation or consideration of how people are going to respond to that.” 

“He’s financially abusing people who support him and it’s irresponsible. He’s been fined by the [U.S. Securities and Exchange Commission] before in reference to tweets about his own company. So imagine how responsible he’s going to act when he’s giving financial advice when he's talking about things he’s not responsible for.”

Morris also looked ahead to 2022, offering three predictions. Top of the list:wars between the likes of layer 1 (base) chains Avalanche and Solana and longer-standing chains such as Bitcoin and Ethereum. 

“Given the issue with fees that Ethereum has had, it became a real opportunity for people to stand up new layer 1s that have had genuine adoption,” Morris said. 

Listen in for more insights from David Morris and “Opinionated” hosts Ben Schiller, Danny Nelson and Anna Baydakova. 

Articles mentioned in this podcast:

David Z. Morris: Behind the Scenes of El Salvador’s Bitcoin Bond With the Man Who Designed It

David Z. Morris: CoinDesk Most Influential 2021: Jack Mallers

This episode was produced, announced and edited by Michele Musso. Our theme song is by Elision.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A Florida jury kinda sorta ruled in Craig Wright’s favor: The man who claims to be Satoshi won’t need to cough up half his multi-billion-dollar bitcoin stash. But he does owe $100 million to the estate of his former business partner. So who won? The gang discusses ramifications of a high-stakes trial and its often-misleading coverage in the press.

Also on the table are 2021’s big crypto influencers. CoinDesk's “Most Influential” dropped this week and featured Elon Musk, Cynthia Lummis, Do Kwon and others who made a difference this year. But who got snubbed? Who got rugged? Listen to find out.

Finally, Danny and Ben look back on NFT week in Miami, where crypto culture and mainstream art converged. It was one big party, to be sure. But it was also a cultural coming out and reflected how “crypto” means more than the “future of money” these days. It’s art, entertainment, the media; it means culture. 

CoinDesk coverage discussed in this episode:

Most Influential 2021 – The 50 people who defined the year in crypto. 

There Was No ‘Satoshi Nakamoto’ Lawsuit – Be careful what you read and where you read it. 

This episode was produced, announced and edited by Michele Musso. Our theme song is by Elision.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

This week, “Opinionated” hosts Ben Schiller, Anna Baydakova and Danny Nelson are talking about Art Basel Miami Beach, the annual international art fair that took place in Florida last week.

Danny was reporting from the ground: This year, a new kind of art made its way to Miami, under the picky gaze of art collectors, curators and, yes, artists themselves. And yes, it’s NFTs, or non-fungible tokens.

NFTs used to be seen as merely cute funny antics of the crypto world (remember Crypto Kitties?) back in 2017, but now, they go for millions of dollars in the world’s most prestigious auction houses, like Christie’s and Sotheby’s.  

The auction houses are aggressively hiring, fashion brands and music labels are signing up international stars to do exclusive NFTs, and artists are learning how to store files on IPFS and use MetaMask – are NFTs here to stay and become a necessary fixture of the future? 

Listen to Ben, Danny and Anna discuss Danny’s impressions from Art Basel Miami Beach – and learn what Tina Turner high heels have to do with it!

This episode was produced, announced and edited by Michele Musso. Our theme song is by Elision.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Last week a ramshackle group of crypto investors tried (and failed) to buy the U.S. Constitution. This week on “Opinionated,” Ben, Anna and Danny talk about why. Recorded one day prior to the auction, this week’s episode explores the tough questions decentralized autonomous organizations (DAO) face in the wake of ConstitutionDAO.

For starters, how should DAOs organize themselves? Should it be one wallet, one vote or should larger contributors get a bigger share of the pie? Most projects follow the latter, but ConstitutionDAO’s unique focus on an important document in the history of democracy forces the question, Danny thinks.

This could prove to be an inflection point for DAOs as a whole, no matter the outcome. Media attention is rampant, new wallets are joining the movement. It may not have worked out for ConstitutionDAO but, as the gang points out, this form of flash crowdfunding is only just getting started.

This episode was produced, announced and edited by Michele Musso. Our theme song is by Elision.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

This week, “Opinionated” hosts Ben Schiller, Anna Baydakova and Danny Nelson are talking to Gurvais Grigg, global public sector chief technology officer at Chainalysis, a blockchain investigative firm.

Grigg spent 23 years at the FBI, rising from a trainee to assistant director. But this April, he took a career turn and joined a private sector company, which is often helping law enforcement agencies investigate crypto-related crimes. 

In his intro blog post, Grigg said crypto becomes a tool of global economic influence, and it’s important for the U.S. to keep up to speed with the technology, unless it wants rivals like China or Russia to outpace it. But do we think the U.S. is the world’s best possible crypto cop? Gurvais have some ideas to share about this.

2020 and 2021, indeed, became years of a ransomware pandemic, with cybercriminal groups hitting vast numbers of companies in the U.S. and Europe. In response, the U.S. government started a massive campaign against the hackers, or rather, against people and entities who helped those hackers cash out ransom crypto.

Two Russian crypto services have been sanctioned already, the over-the-counter (OTC) trading firm Suex and crypto trading bot Chatex, and another OTC founder, Denis Dubnikov, was arrested in Amsterdam last two weeks ago, allegedly for helping launder proceeds from the Ryuk ransomware attacks. 

Chainalysis has been involved in some of these investigations, and Grigg said he expects there will  be more indictments, sanctions and arrests. Also, there will probably be more ransomware attacks in the future. What is the role of companies like Chainlaysis in all that? 

Listen to Anna, Ben and Danny to talk to Gurvais about all that, and more. 

Gurvais Grigg’s Twitter handle is @gurvais

Mentioned in this episode:

• US Sanctions Enforcer Blacklists a Crypto Exchange for First Time

This episode was produced, announced and edited by Michele Musso. Our theme song is by Elision.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

This week, “Opinionated” hosts Ben Schiller, Anna Baydakova and Danny Nelson are discussing Anna’s investigative piece on the black market of “verified” accounts on crypto exchanges and payment apps.

Know-Your-Customer (KYC) at crypto exchanges might be a painstaking process for users  but there is a way to avoid all the troubles by simply buying a verified account in someone else’s name, Anna’s investigation found. 

Online forums and Telegram groups where people buy and sell accounts registered to other people count thousands of members and thrive all over the world. Accounts on virtually any exchange, from Huobi to Coinbase Pro, services from Paxful to BlockFi and apps like CashApp, Wirex and Revolut – the offerings are abundant. 

The price tag, somewhere between $50 and $500 for an account, makes such accounts a cheap and disposable tool for taxation avoidance, money laundering and getting around sanctions and other restrictions. 

How does the black market of KYC work, what it takes to fool video-verification and what crypto exchanges and payment services are doing about this all? Listen to Ben, Danny and Anna dive into the life of underground black markets and read Anna's piece, For $200, You Can Trade Crypto With a Fake ID.

This episode was produced, announced and edited by Michele Musso. Our theme song is by Elision.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.