Topic: High Times

Bitcoin reached a new all-time high of nearly $49,000 on February 11, 2021. The discussion covers the common phenomenon of early adopters losing access to their holdings due to lost hard drives or forgotten seed phrases. One host recounts selling 65 bitcoins a decade prior, while mentioning others who mined several coins but cannot locate the backup disks.

A UK judge denied bail to Julian Assange despite rejecting the U.S. extradition request earlier in the week. In Philadelphia, activists protested outside Joe Biden's headquarters demanding the cancellation of $1.6 trillion in student debt, labeling the debt "racist." The hosts sign off on "All Time High Day" (ATH) as Bitcoin and markets reach new peaks.

The New York Times reports on potential crackdowns on rapid computerized stock trading following the "flash crash." The hosts suggest that these high-frequency trading mechanisms, used by firms like Goldman Sachs, are currently propping up the market. They predict a market collapse if these systems are restricted.

Michael Moore appeared on Bill Maher's program to advocate for high-speed rail, claiming a train could travel from New York to Los Angeles in 12 to 14 hours. The hosts debunk this calculation, noting that even at 210 miles per hour, such a trip would require a perfectly straight line and no stops. They argue that state legislatures would never allow a rail line to pass through their territory without demanding local stops, which would significantly increase travel time.

The hosts critique the push for high-speed passenger rail in California, citing a Time magazine article as propaganda. They argue that the infrastructure is actually intended for freight transport rather than passenger convenience, pointing to comments from governors Ed Rendell and Arnold Schwarzenegger about the importance of freight rail.

Adam Curry and John C. Dvorak discuss the magazine High Times and a writer with a similar name to Dvorak who advocates for marijuana legalization. Adam recalls being invited to judge a smoking contest in Amsterdam but declining the offer to avoid complicating a round of corporate financing.