Bitcoin Mining Death Spiral, AGI, and the End of Central Banking w/ Rich Rines

Rich Rines joins the show to explore whether mining concentration is a real concern, why Ethereum struggles with product market fit, if Bitcoin is the separate of money from state, the ethics of Coinbase and sh*tcoins, and whether all other cryptos are unregistered securities. They also discuss the future of central banking on a Bitcoin standard, the role of Lightning and Tether, and how Bitcoin and AI will reshape the world.

Rich Rines is a Bitcoin class of 2013 OG, who previously led money movements at Coinbase. He left Coinbase to focus fully on Core, recognizing its potential and aligning better with his startup-oriented mentality. Rich serves as the CEO of Element Wallet, a consumer application set to become integral to the Core ecosystem, focusing on stablecoins and encrypted messaging infrastructure.

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// TIMESTAMPS //
0:00 - WiM Episode Trailer
1:13 - Bitcoin vs Sh*tcoin (Decentralization)
5:30 - Is Mining Concentration a Concern?
17:15 - iCoin Bitcoin Wallet
18:44 - Cowbolt: Settle in Bitcoin
19:59 - Bitcoin and Turing Completeness
25:40 - Ethereum’s Product Market Fit
34:14 - Heart and Soil Supplements
35:14 - Mine Bitcoin with Blockware Solutions
36:16 - Tether and the Lightning Network
49:54 - The Future of Central Banking on a Bitcoin Standard
55:17 - Helping Lightning Startups with In Wolf’s Clothing
56:09 - Onramp Bitcoin Custody
58:06 - The Future of Banking on a Bitcoin Standard
1:03:21 - Will Government Become Irrelevant?
1:07:22 - Working at Coinbase
1:21:42 - Mind Lab Pro Supplements
1:22:53 - Buy Bitcoin with Coinbits
1:24:21 - Money, Language, and Religion
1:33:24 - Coinbase and the Ethics of Sh*tcoins
1:39:17 - Are Cryptos Just Unregistered Securities?
1:43:50 - Is Bitcoin the Separation of Money and State?
1:47:55 - Will AI Shrink Government?
1:53:12 - Will AI and Bitcoin Bring UBI?
2:01:02 - The Farm at Okefenokee
2:02:12 - Orange Pill App
2:02:40 - How Far Off is AGI?
2:10:53 - Closed vs Open Source AI
2:12:08 - Will Everyone Become a Software Engineer?
2:19:53 - Closing Thoughts and Where to Find Rich Rines

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