"Imagine the ideal protocol. It would have the most trustworthy third party imaginable — a deity who is on everybody's side. All the parties would send their input to this god. God would reliably determine the results and return the output. In addition, God, being the ultimate in confessional discretion, would ensure that no party would learn anything more about the other party's input than they could learn from their own input and the output." - Nick Szabo Another great piece by Szabo about the...
Jun 19, 2019•30 min
All the buzz is about FacebookCoin, I mean FacePalmCoin, I mean Libra today with the release of the testnet and Libra.org giving much sought after details on the new protocol and what they seek to accomplish with it. The big question, can it do any of what it says, and what other projects does it compete with really? We read numerous twitter posts, including a great thread by Caitlin Long, tweets from Andreas, details sourced by Jameson Lopp, and more in today's Guy's Take episode. More Links to...
Jun 18, 2019•1 hr 5 min
This one should not be skipped! There is a fascinating precedent set by case law and the long battles over PGP and US "munitions" laws, that gives us a rather clear conclusion on how Bitcoin should be treated by the US government. The short version? Bitcoin is speech, plain and simple, and should be subject to a total of *0* federal or state laws on money transmission, KYC/AML, financial regulations, etc. This is not an opinion, but an objective and clear truth. Listen to a thorough argument fro...
Jun 13, 2019•48 min
At the recent Raleigh Bitcoin meetup we had an awesome discussion all about privacy and bitcoin, and the intertwined destinies of both. Hanging out with some drinks and talking all about Bitcoin, what could be better? Thanks to all the crew who helped out and participated! Be sure to check out: https://cryptoconomy.life/ The BitANN.io project Paywall.link https://www.meetup.com/The-Raleigh-Bitcoin-Meetup https://www.meetup.com/Triangle-Bitcoin-Meetup --- Send in a voice message: https://podcaste...
Jun 12, 2019•1 hr 26 min
Today I wanted to cover an analogy I have hit in the past to explain what's happening in the boom/bust cycle. One that sheds light on the fact that the imbalance is a fundamental element of the fractional reserve system, rather than an unexplainable flaw of humanity shrugged away by "animal spirits." What do cars, tickets, and vacation plans have to do with the boom/bust cycle? Listen to find out! --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message...
Jun 11, 2019•41 min
This is an episode not to be missed. With a beta project focused entirely on the user experience, the @Breez_tech wallet is making a huge leap in the UX of Lightning that I thought was still months or even a year away. Very excited to discuss it and read an excellent article about all the challenges in the Bitcoin/Lightning user experience, and how they will be overcome. By Roy Sheinfeld, co-Founder of Breez Technology, today we read: Lightning at the End of the Tunnel: Overcoming Bitcoin's UX C...
Jun 10, 2019•49 min
With help from the Bitcoin Optech newsletter we cover details and implications of the newly proposed Erlay protocol for spreading transactions quickly and efficiently across the network. An 84% reduction in bandwidth for getting transactions to every node, is certainly nothing to scoff at. With effects on network efficiency and privacy, let's talk Erlay, Dandelion, & BitcoinOps! Don't forget to check out and follow the completely free BitcoinOptech Newsletter to stay up on all the new develo...
Jun 06, 2019•39 min
In the epic conclusion of the 21 lessons of the Bitcoin Rabbit hole , we talk about the technology, the network, and how Bitcoin is set to change the world. "The future is here, its just not evenly distributed." Don’t miss the 3rd & final Chapter of @Dergigi ’s excellent piece! Check out the full site with tons of other work below: https://dergigi.com/bitcoin/lessons/ --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message...
Jun 05, 2019•57 min
Continuing our expedition through the lessons of the Bitcoin Rabbit Hole, we explore the realities of economics & the truth of money that is revealed by Bitcoin’s nature. Don’t miss the next 7 lessons on the economics that bitcoin teaches in our tumble down the rabbit hole. Explore the many other links, graphics, and charts throughout this amazing section, plus the tons of other works available over at dergigi.com https://dergigi.com/bitcoin/lessons/ch2-00-economics/ Follow dergigi on twitte...
Jun 04, 2019•1 hr 11 min
An epic journey with author @dergigi on the unexpected lessons he learned tumbling down the Bitcoin rabbit hole. One can always take a closer look at Bitcoin and the strange, new phenomenon that it is. Don't miss this excellent 3 part series found at dergigi.com ! Explore the other work and incredible list of further reading and discussion on each lesson in the "Further down the Rabbit Hole" sections: https://dergigi.com/bitcoin/lessons/ch0-02-introduction/ --- Send in a voice message: https://p...
Jun 03, 2019•36 min
“Those who argue “high fees will kill adoption” fail to understand the intensity of assurances Bitcoin offers, and the ease at which it does this. Put lightly — Bitcoin is insanely cheap compared to alternative options for obtaining high degrees of assurance. Bitcoin is a vehicle built for moon missions, but we are giving it similar treatment to a scooter.” @imacallyoujawdy Don't miss an excellent piece exploring the revolution of money and accounting assurances represented in the Bitcoin system...
May 31, 2019•57 min
" 'Break stuff' in that context means 'Kill People.' The software simply must work every time , no compromise, no guesswork, no exceptions. There are no 'do overs' or roll-backs." The "To the Moon!" Bitcoin meme is far more relevant than many realize. Bitcoin is mission critical software. It requires a vastly different engineering philosophy and design. With a short, but fun piece by @Beautyon_ , we break down the conceptual reasons why the development mentality of Bitcoin should be mirror the m...
May 30, 2019•26 min
Curious about all the #BitcoinTwitter buzz recently? I went digging to find the associated twitter threads & comments to read, and then discuss my own take on all the drama. Too long; Didn't Listen - • Don't be a jerk. • We aren't responsible for other people's feelings. • If you have to choose between making someone uncomfortable & telling them what you believe to be true, speak the truth. • Open discourse, no matter how "toxic," is preferable to back room political fighting. • These ar...
May 29, 2019•52 min
Exploring the magic of cryptography using a magic hammer, gray dust, a magic potion, & a pair of very special pajama pants. Don't miss another read from @Dergigi on the absolute magic of cryptography and how it will utterly change everything we think we know about the world. We are entering a new era of human civilization. Pay close attention, the world will never be the same again. Check out the other work (plus fun graphics & comics) & amazing collection of work we will be revisiti...
May 28, 2019•42 min
In a crazy conversation from last night's meet-up, I learned of discussion of a purposeful re-org, a 51% attack, on the #BCH chain by 2 miners. After a few hours scrambling to pull details together this morning, this is what I've discovered so far. Don't miss this Guy's Take episode all about the #Bcash 51% attack! These are the links to the conversations and posts that I found relevant information at: https://honest.cash/kiarahpromise/sigop-counting-4528 Article on hash power dominance of BTC.T...
May 24, 2019•33 min
Is Bitcoin's security going to be unreliable, volatile, or could it even fail entirely when we lose the block subsidy? Or is #Bitcoin set to operate smoothly with a natural transition from newly minted bitcoin, to transaction fees? Exploring the security of Bitcoin in the next economic era, with Dan Held 's amazing piece, " Bitcoin's Security is Fine ." Don't forget to check out Dan Held 's other work, the amazing set of links throughout the article, and drop some applause below: https://blog.pi...
May 23, 2019•1 hr 22 min
The brilliance of the price system is in coordinating the values, deeply limited knowledge and scarce resources precisely to their highest value need without having to understand or be aware of every single change in supply, alternatives, and uses of those resources among the economic participants. It is specifically because we only receive the most important piece of information, its new value in relation to other things (the price), that we can so quickly align ourselves with the new state of ...
May 22, 2019•53 min
Is the idea of a central decision maker for the economy just a problem of gathering all the right information and having the most intelligent in control? Or is there a far more fundamental problem with the entire notion? Continuing our #Bitcoin economics week, today we dive into a piece on a concept we haven't yet covered. What is the true nature of the knowledge involved in economic activity, and how do we utilize that knowledge to solve the problem of economic organization? A brilliant work by...
May 21, 2019•42 min
Diving into a great piece by Conner Brown exploring the subjectivity of value, and why Bitcoin's lack of "intrinsic value" is a benefit, not a hinderance. Does this aspect of Bitcoin, and the nature of money align with history? Does it challenge great economic thinkers & their theories? Or is it a natural next step in the growing possibilities of the digital world? Don't miss a fun episode starting off another week on Bitcoin economics! Dont forget to follow Conner Brown on Twitter and explo...
May 20, 2019•58 min
Today we cover all the incredible new developments coming to Lightning and what they will mean for the future the protocol! First we tackle the blog post from @Bitrefill introducing the entire list, from AMPs & submarine swaps to trampoline payments & rendezvous routing. Then I discuss at length further details about each and how these tools together may blur the gap between Bitcoin & Lightning, and turn it into a singular experience. Don't miss today's show! If you don't know much a...
May 16, 2019•1 hr 4 min
Today, in preparation of & to understand the significance of the vast array of new features and developments coming to lightning, we cover a full overview of the What, Why, & How of the Lightning Network. What exactly is it, why do we need it, and how exactly does it work? A huge thank you to Aaron Van Wirdum , Pierre Rochard , and Rusty Russell for making this understandable for me, we dive into a high level approach to understanding what’s happening in lightning. In addition, despite f...
May 15, 2019•43 min
With a really cool and succinct article from Darren Kleine (@_DKleine), today's read is on the "sins" of debt and usury, and how a good or bad monetary system will either encourage its corruption, or protect society from its abuse. Don't miss a great little read and fun discussion all about the nature of debt, money, and a new financial world built on Bitcoin. The Ancient Sin of Debt: How Bitcoin Can Make Amends Don't forget to follow Darren and explore the many other great pieces he has written...
May 14, 2019•44 min
Today we cover more specifically the consequences and risks of a divorce between miners & the network of nodes. What could the miners do, are sybil attacks proof that nodes worthless, what exactly are the incentives that keep the different players in this ecosystem working together? Don't miss another fun discussion on what defines Bitcoin, and the role that proof-of-work & validation play in this revolutionary technology. --- Send in a voice message: https://podcasters.spotify.com/pod/s...
May 09, 2019•1 hr 14 min
When we dig to the very base elements of Bitcoin, we find it is merely digital points. What make these integers different from identical ones on billions of other computers? It is the rules that restrict the editing of those specific integers we call Bitcoin, in other words, it is the network of validating nodes that define it. In this episode you will hear Part 1 of my argument as to why. Don't forget to check out @StopAndDecrypt 's relevant article series and the amazing graphics for visualizi...
May 08, 2019•1 hr 1 min
Today we take a stroll through a collection of known errors, clarification, and terminology changes from the original whitepaper made available thanks to David A. Harding. The chain of signatures, "one-CPU-one-vote," the distinction between nodes and miners, and much more. This will have some important details we will reference later in the week while exploring validation and nodes on the Bitcoin network, and what it means to "define" the Bitcoin system. Check out Harding's Github page for the f...
May 07, 2019•1 hr 3 min
A great piece just full of fun analogies on how to imagine the force of nature that is #Bitcoin. Don't miss our first piece by @dergigi on the show today, exploring Bitcoin as a force of ideological gravity, and how the network codifies a concept into an explicit set of rules to define the game we play. Today's read, Bitcoin's Gravity! Check out the other work by @dergigi on his personal page below, and also drop some applause on this article and go through the tons of links to the other great w...
May 06, 2019•44 min
The conclusion of the Adamant Capital report from Tuur Demeester & Michiel Lescrauwaet on the current state & sentiment of the Bitcoin markets. What could send the price lower? Where are we in the financialization process of the Bitcoin market? Is there still a possibility that Bitcoin becomes a globally recognized reserve asset? Find out in Adamant Capital report: Bitcoin in Heavy Accumulation Don't forget to check out the Adamant Capital website & Blog for more data, and download t...
May 03, 2019•30 min
Today & tomorrow we will be going through the Adamant Capital report by Tuur Demeester & Michiel Lescrauwaet on the current state and sentiment of the Bitcoin markets, and the data that backs up their analysis. Is the bear market over? Should we be searching for bull horns breaking the horizon? Find out in Adamant Capital report: Bitcoin in Heavy Accumulation Don't forget to check out the Adamant Capital website & Blog for more data, and download the full report to see the numerous c...
May 02, 2019•29 min
In the follow-up to yesterday's article, we are covering Nicolas Dorier's second article on Neutrino, detailing the systemic risks of widespread SPV, and breaking down the different types and specific consequences of various node setups on the network. With the controversial stance that SPV threatens self-sovereignty more than even custodial wallets, Nicolas cedes no ground. Don't miss another great article! A brief shout out to the Casa suite in the commentary as well. Don't forget to head over...
May 01, 2019•36 min
Today we read an article from developer @nicolasdorier that illustrates why Neutrino might not be the panacea some seem to treat it as. It certainly has its benefits, but its important to look critically at every proposal, to ensure we understand what is, not what we wish to be. Why I Don't Celebrate Neutrino Don't forget to thank Nicolas for letting me cover his work and head over to his Medium page and drop some applause on this article, or get a head start on his follow-up that we will read t...
Apr 30, 2019•30 min
