LOS ANGELES, Feb. 09, 2021 (GLOBE NEWSWIRE) — via InvestorWire – InvestorBrandNetwork (“IBN”), a multifaceted communications organization engaged in connecting public companies to the investment community, is pleased to announce the release of the latest CryptoCurrencyWire Audio Production as part of its sustained effort to provide specialized content distribution via widespread syndication channels.
The What Bitcoin Did podcast is a twice-weekly podcast focused on cryptocurrency. Episodes feature exclusive interviews with experts in the world of bitcoin development, privacy, investment and adoption. Since its launch in November 2017, What Bitcoin Did has produced nearly 200 episodes featuring a broad array of guests who serve as a testament to the diversity of knowledge and opinions that exists across the broader bitcoin community. McCormack also hosts Defiance, a podcast focused on investigative journalism.
McCormack began the CryptoCurrencyWire interview by discussing the current state of bitcoin as compared with existing fiat currencies.
“Bitcoin is a competing form of money, but it’s not like fiat currency. Right now, it’s too volatile, really, to be used for day-to-day purchases. People tend to treat it much more like a store of value – a bit more like gold,” he said. “The reason they tend to do that is because of fear over the debasement of fiat currencies. Obviously, we know fiat currencies like the pound and the dollar are being printed at quite staggering rates right now. That’s a concern of certain people, and people tend to think where can they put money to hold value. Some people may put it into properties, some people into gold. But increasingly, bitcoin has become an option that people are using. It’s certainly competing as a store of value against other stores of value.”
McCormack continued the interview by identifying his favorite cryptocurrency.
“I only care about one cryptocurrency, and that is bitcoin. I believe that bitcoin has this unique design which solved what is known as the double spend problem. Historically, where people have tried to create digital currencies, they’ve had the problem whereby they would spend that currency twice. Bitcoin solved that through a number of unique attributes,” he continued. “Bitcoin has been going for 12 years. The entire blockchain is 360 gigabytes, most laptops support that these days. With ethereum, because ethereum allows a lot more to be done within the blockchain, it’s currently running at 4 terabytes, and it’s been going less than half the time of bitcoin. The problem there is it makes it very difficult for someone like you or I to run a node. These nodes really have to be run in datacenters. That creates a much easier attack surface if the government wants to attack it.”
McCormack next turned his attention to high market cap altcoins and provided some insight into why he prefers to focus exclusively on bitcoin in the cryptocurrency space.
“Market cap can be misleading. A lot of these networks are hardly used, so if you look at something like Bitcoin Cash or Bitcoin SV, which are forks of bitcoin, they have market caps in terms of billions of dollars. If you actually look at the transaction volume, it is so low,” he said. “If you look at the long-term trend for altcoins, they tend to be trending toward zero. We’re talking about money here. The best form of money should always win, and I believe bitcoin is the best form of money, which is where I hold mine.”
Watch InvestorBrandNetwork’s Jonathan Keim and What Bitcoin Did host Peter McCormack as they discuss the cryptocurrency market and the advantages offered by bitcoin over other altcoins and crypto alternatives.
To hear the entire episode please visit: https://www.CryptoCurrencyWire.com/CryptoNewsAudio
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