Everything Ed Felten said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Felten: Bitcoin's 21 million supply cap is changeable by community consensus
“Right now the monetary policy is grow asymptotically to twenty-one million Bitcoins, but that could change by consensus of the community. That twenty-one million limit is not inherent mathematically. It's just a number that is hardwired into the currently used…”
Felten: Bitcoin will become too large for traditional regulators to disrupt
“I think a lot of people in the sort of old school finance, finance and financial regulation world just think this whole thing is a bubble and will go away if they ignore it. I don't think that's true, and I think that as they wake up, they may start looking at…”
Felten: Smart contracts, DACs, and virtual corporations are fundamentally equivalent
“They're sometimes called smart contracts or virtual corporations, etc. I really just, first, first, these things are fundamentally equivalent to each other. And second, I prefer just to use the term mechanism, right?”
Felten: Displacing incumbent cryptocurrencies requires superior utility to overcome network effects
“I think it's the case that if you can convince the community that your new thing is enough better in, along some dimension they really care about, then there will be a space for your currency to get a foothold. Maybe something that existed before falls away, r…”
Ed Felten: Reputable businesses must report large Bitcoin transactions
“It's already the case that if you are a reputable business that deals with large Bitcoin transactions, those have to be reported to the government, or you're going to end up in behind bars pretty quickly.”
Felten: Bitcoin volatility will decrease as adoption and liquidity grow
“I think the exchange rate of Bitcoin will settle down if it grows. You get more liquidity in the market, and you get more sophisticated economic modeling of what the fair price is. And then I think the volatility goes down somewhat.”