The Fierce Debate on Bitcoin’s Future, Bakkt, Crypto and Samourai’s Farewell to Fiat – With Brock Pierce

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In episode #225 of the Bitcoin Podcast, where “adoption is still the only thing thing thing that matters,” the hosts kick up a fierce debate on the direction of Bitcoin as a store of value versus its potential as everyday money. They also toss around the Holy Grail of adoption: a world without fiat that runs on cryptocurrency.

The episode opens with an announcement about a Bitcoin scam that pimped the line: ‘If you invest in us with 10 BTC, we’ll invest in you.’

After touching on the power and promise of the upcoming crypto exchange Bakkt, they debate the latest move by Samourai, which bills itself as “the most private and anonymous Bitcoin wallet.”

Samourai recently made a bold decision to remove “the crutch” of fiat currency.

With its latest 0.98.87 wallet release, users will now see their balances denominated only in Bitcoin’s smallest unit – known as ‘satoshis’. Dropping fiat is their way of drawing the line on where and how the old monetary system ends and the new digital economy begins.

According to the Samourai blog post, fiat has no place in the Bitcoin network.

They write,

“Farewell Fiat
‘We believe it is fundamental that our existing and future users understand that when they transact within the Bitcoin network, when they participate in the Bitcoin economy, they are transacting with the token native to that network, BTC, and nothing else.’”

The episode closes on an interview with crypto entrepreneur and chairman of the Bitcoin Foundation Brock Pierce, live from Puerto Rico.

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