Hedging difficulty (E1387)
In this episode of the Keiser Report, Max and Stacy discuss the fallout from Congressman Brad Sherman’s recognition that bitcoin may replace the dollar as a unit of account. They look at Anthony Pompliano’s vision of that and at the “increased probability, that we are moving to a world, where non-sovereign currencies are the default.” In the second half, Max interviews Jack Mallers of Zap, a Lightning Network wallet, about his new design for bitcoin derivatives contract. If bitcoin miners are the farmers of the bitcoin as a commodity market, they need a way to hedge difficulty adjustments, so Jack is working on the contract to provide that hedge.
Check Keiser Report website for more: http://www.maxkeiser.com/
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