LISTEN TO JAMIL HASAN AND JOSHUA SCIGALA:
ON THE SHOW: Joshua Scigala has been working in Bitcoin since Satoshi was still on the scene. His focus was on building transparency protocols for centralized exchanges after he lost a lot of money in the first ever Bitcoin exchange, Mt. Gox. Joshua and his brother Philip launched the world’s first Bitcoin/physical gold order book exchange called Vaultoro in 2015. Joshua’s focus has been on building the ultimate decentralized stablecoin for the last 3 years. “Badly designed Stablecoins are a threat to the entire cryptocurrency space. Therefore, I have made it my mission to create the ultimate decentralized stablecoin and borrowing protocol.” – Joshua Scigala.
HOST: Jamil Hasan is the managing member and principal of Crypto Hipster Publications. Jamil owns and operates a podcast show that offers global educational content on blockchain and crypto. He has positioned the brand as a differentiator in the market with a focus on infrastructure, decentralized finance, Bitcoin, Metaverse, NFTs, and artificial intelligence. To date, he has interviewed 330 guests through his first seven seasons on the podcast from 60 countries, reaching listeners in 94 countries, and has written 287 books, including Blockchain Ethics: A Bridge to Abundance, Blockchain Ethics: Arise from the Ashes, Blockchain Ethics: Fighting Honorable Battles, plus hundreds several of the Crypto Hipster compilation series. The Crypto Hipster Podcast can be discovered at https://podcasters.spotify.com/pod/show/crypto-hipster-podcast. 
ABOUT: In this fascinating conversation, Joshua Scigala shares his experience with building the first swap site after 9/11, highlighting the limitations of swapping and the importance of a credit system. Joshua and Jamil Hasan discuss the benefits of decentralized exchanges (DEXs) and stable coins, emphasizing their potential for more reliable trading experiences compared to centralized exchanges. Mr. Scigala emphasizes the importance of decentralization and over-collateralization of stable coins, while both discuss the evolution of the Cypherpunk landscape and the need for transparency and privacy in institutional adoption. The two also investigate the collapse of Terra Luna and the importance of stability in the cryptocurrency market.
In this fascinating conversation, Joshua Scigala shares his experience with building the first swap site after 9/11, highlighting the limitations of swapping and the importance of a credit system. Joshua and Jamil Hasan discuss the benefits of decentralized exchanges (DEXs) and stable coins, emphasizing their potential for more reliable trading experiences compared to centralized exchanges. Mr. Scigala emphasizes the importance of decentralization and over-collateralization of stable coins, while both discuss the evolution of the Cypherpunk landscape and the need for transparency and privacy in institutional adoption. The two also investigate the collapse of Terra Luna and the importance of stability in the cryptocurrency market.
Some key insights include that Joshua was fascinated by the Cypherpunks’ attempt to create digital cash without a central authority, but initially thought it was impossible because of the double spend problem. He explains the evolution of Cypherpunk ideals from the early 2000s to today, emphasizing transparency and privacy for the powerful and the weak. Scigala argues for Bitcoin’s use in maintaining privacy and self-sovereignty, while also allowing for law enforcement to track and trace nefarious activities. He also highlights how the decentralized gold standard differs from a traditional gold standard, where government holds value in a centralized vault and issues debt against it. The conversation explores how new Bitcoin users should proceed with caution if buying unfamiliar tokens and emphasizes the importance of using a Smart Vault. The two agree on the importance of soft pegs in decentralized stable coin systems, avoiding hard pegs that promise exact value, such as the Terra Luna peg, that caused the crypto market implosion of 2022.
