Unconfirmed: MIT's Neha Narula on Why Building DeFi on Bitcoin Is a Great Idea - Ep.257

Jul 23, 2021

Neha Narula, the Director of the Digital Currency Initiative at MIT Media Lab, sheds light on Bitcoin's future and governance. She dives into Elon Musk's insights from ‘The B Word’ conference and addresses the environmental concerns of proof-of-work mining. Neha expresses skepticism about Dogecoin's viability and praises Jack Dorsey’s new Bitcoin platform. She also explores the implications of Bitcoin’s hashrate dip and discusses the coexistence of cryptocurrencies and CBDCs, rounding off with her vision for the future of digital currencies.

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INSIGHT

Block Size and Tech

Average people won't run Bitcoin nodes, so block size could increase.
Tech has improved since 2008, potentially allowing larger blocks without compromising decentralization.

INSIGHT

Environmental Concerns

Elon Musk supports Bitcoin but acknowledges environmental concerns due to Tesla's position.
He wants more due diligence on Bitcoin's renewable energy usage before Tesla readopts transactions.

INSIGHT

Dogecoin's Potential

Elon Musk suggests Dogecoin, started as a joke, could become the biggest cryptocurrency.
He cites its irreverence, memes, and his love for dogs.

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