Topic: Bitcoin Cash

The ongoing relevance of cash is discussed, particularly for marginalized populations like the homeless who lack access to digital credit. Delays in the U.S. Postal Service are noted, affecting the delivery of personal checks and business correspondence. A debate ensues regarding the efficiency of bank-issued checks versus traditional mail for show-related expenses.

Proposals for a "digital dollar" linked directly to the Federal Reserve were included in early pandemic relief bills. Such a system would allow the government to bypass commercial banks and exert direct control over consumer spending through incentives or blocks. Bitcoin is presented as the only viable alternative to this impending system of programmable, centralized financial control.

A discussion on the status of Bitcoin Cash confirms it is currently trading around $300 but is dismissed as a "shitcoin" compared to the original Bitcoin. A separate observation notes a growing trend among Millennials who watch television with closed captions enabled. This is attributed to the generation's habit of multi-screening and being distracted by other devices during media consumption.

The cryptocurrency exchange Coinbase halted trading of Bitcoin Cash following allegations of insider trading. The suspension occurred after the price spiked immediately before the official launch on the platform. The segment highlights the "Wild West" nature of crypto markets compared to traditional investments like real estate, which have title insurance and regulatory protections.

Bitcoin's utility as a payment mechanism is questioned as transaction costs and mempool congestion increase. While Bitcoin Core (BTC) is compared to a "tulip" bubble, other cryptocurrencies like Bitcoin Cash (BCH) and Ethereum are noted for providing different use cases. The segment includes a "de-douching" of the crypto market and a discussion on the speculative nature of current price charts.

Progress is reported on "Beanie Coin," a proposed cryptocurrency for the No Agenda listener network intended to create a merchant ecosystem. Meanwhile, mainstream financial reporting on CNBC regarding the Bitcoin "fork" into Bitcoin and Bitcoin Cash is criticized for being technically shallow. The hosts explore the potential for a "Curry Coin" to target the Indian market following recent currency reforms.

A "hard fork" of the Bitcoin blockchain is scheduled for August 1, 2017, resulting in the creation of a new currency called Bitcoin Cash (BCH). The split stems from a community disagreement over block size limits, with the new version increasing capacity to 8 megabytes to improve transaction speeds. Holders who possess their private keys will receive an equivalent amount of Bitcoin Cash, effectively duplicating their holdings in a new digital asset.

The "Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017" is analyzed. The bill seeks to expand the $10,000 reporting requirement to include cryptocurrencies, prepaid cards, and gift cards. The hosts warn that the bill would allow for increased surveillance and FISA warrants based on suspected cryptocurrency usage.

The Bank of England is reportedly considering phasing out the £50 note, following similar moves in India and the EU to eliminate high-value currency. Financial experts suggest this is part of a broader "war on cash" intended to increase tax oversight and control over small transactions. While some look to Bitcoin as an alternative, the hosts remain skeptical of its current convenience as a store of value.