Friday, April 5, 2013

Webbot Clif High: How Bitcoin will collapse currency as we know it

Recorded on April 4, 2013 . In this episode, Clif High gives a primer on Bitcoin, which he believes will collapse currency as we know it

The Clipper chip was an attempt by the gov't to have access to everybody's encrypted information by forcing them to use an encryption chip which had a private key accessible by the gov't at all times. It is analogous to the gov't attempting to seize somebody's Bitcoins, it was a failure with the Clipper chip and it would be a failure with Bitcoin. Unless the government is torturing you, there is no way for the to steal your private key which you use to sign Bitcoin transactions.