In this interview, Rich Rines, an initial contributor to CORE DAO, discusses his vision for Bitcoin yield and the CORE DAO project, which aims to scale Bitcoin by enabling users to earn passive yield through staking. Rines explains how CORE operates as a Bitcoin-powered blockchain with a DeFi ecosystem and a unique consensus mechanism that rewards Bitcoin hash. He addresses the risks associated with Bitcoin yield, emphasizing the importance of understanding the underlying mechanisms and maintaining self-custody. The conversation also covers the potential use cases for Bitcoin in a new financial system, including borrowing against Bitcoin without intermediaries, and the tax implications of Bitcoin yield. Rines also touches upon CORE's growth, its Sharia-compliant DeFi aggregator, and the launch of LSTBTC, a liquid staking token. Finally, he shares his personal journey into crypto, his time at Coinbase, and his thoughts on the future of money, privacy, CBDCs, and the potential impact of AI on the financial system.
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