DL
Daniel Larimer is the founder and chief developer of BitShares, an open source software company based in Virginia. He is the originator of the concept of decentralized autonomous companies (DACs) and a thought leader in the decentralized industry. He developed bitUSD, a digital currency designed to address fundamental weaknesses in existing cryptocurrencies.
1Interview
2014First on the show
Oct 2014Latest appearance
5 minOn camera
5:20
Latest interview · Oct 12, 2014Daniel Larimer on BitShares and decentralized exchangesWatch the episode →
In their own words
“Bitcoin is not very good as a medium of exchange because you buy it and you sell it as fast as you can when you pay for something.”
Key points from the latest interview
- BitShares created bitUSD, a stablecoin collateralized with crypto assets at 300% reserve to provide price stability while maintaining Bitcoin's benefits.
- BitSharesX is a fully decentralized exchange built on BitShares technology, ranking fourth by market cap with occasionally second-highest daily trading volume.
- BitUSD holders can earn interest from speculators who borrow dollars to leverage long positions, potentially yielding higher returns than traditional banks.
- BitShares enables creation of derivatives against any asset like gold and silver, allowing decentralized trading without counterparty risk on the blockchain.
- Bitcoin's proof-of-work model requires constant capital inflow to sustain mining operations, whereas BitShares focuses on system profitability and sustainability.