Spencer Bogart

Interest has been low [in Bitcoin Gold]. That said, I think it's actually interesting. Likely to be hugely successful? Probably not.

I'm happy [to be] getting a free stake in their experiment [via hard fork] -- decentralization is important and they're trying a different angle to achieve that.

Plus I can appreciate that it's a non-hostile fork with strong two-way replay protection and isn't trying to take Bitcoin / BTC name.

I worry that a lot of the proposed [technical stablecoin] implementations will appear stable… until they aren’t - a huge left-tail risk. In the Tether model, the failure point is known (counterparty risk). In risk mitigation, the devil you know is better than the one you don’t.

Sources of BTC demand in years ahead:
1) Generational shift (teenagers want crypto more than cash and gift cards)
2) Central banks and institutions (demand for non-sovereign digital asset with absolute scarcity)
3) Programmable money (the opportunities of natively digital money = HUGE)

PayPal helped bring money into a digital age by creating a digital front-end for legacy infrastructure but PayPal didnt create new infrastructure. Bitcoin and Ethereum *are* new financial infrastructure: Digital infrastructure for a digital era.

“Time-locked” and “multi-sig” transactions are two early examples of advanced functionality that is possible with programmable assets. They replace hours of legal time and cost with a couple lines of code.

Programmable money is finally here.