Read_794 – Open Letter To Prospective ETF Buyers
“Bitcoin enables perhaps the most powerful mode of ownership ever devised; it would be akin to gold inside a safe that can’t be penetrated with all the energy the universe, and with a password that you know but which could not be guessed over the entire lifetime of the universe.”
~ Allen Farrington
What if buying an ETF of Bitcoin, is contradictory to the very investment thesis of Bitcoin itself. Knowing the investment thesis for bitcoin, should entail the understanding that bitcoin’s value proposition is undermined by the very notion of holding a credit instrument in its place. Farrington breaks down a few of the reasons why in this excellent, short letter to those considering a purchase of the newly approved bitcoin ETFs.
Check out the original article at An Open Letter to Prospective Buyers of a Bitcoin ETF. (Link: http://tinyurl.com/ykktptk4)
References from the show:
Shelling Out: The Origins of Money | Satoshi Nakamoto Institute (Link: http://tinyurl.com/4r8ynwtf)
Read – Capital in the 21st century. (Link: http://tinyurl.com/4k4vcz99)
Read – Orange is the New Green (Link: http://tinyurl.com/bdebpcur)
Read – Banks without Bankers (Link: http://tinyurl.com/2vjtmrcn)
Bitcoin is Venice: Essays on the Past and Future of Capitalism by Allen Farrington, Sacha Meyers, Guy Swann. (Link: http://tinyurl.com/yrj6k3cm)
The Lightning Network Reference Rate by Nik Bhatia. (Link: http://tinyurl.com/mr3cmrtr)
The LINER Index: How Amboss is Shaping a More Inclusive Future for Finance by Amboss Technologies. (Link: http://tinyurl.com/yk7f2zhu)
Guest Links
Allen Farrington on X (Link: https://twitter.com/allenf32)
Allen Farrington Website (Link: https://www.uncerto.com/)
Host Links
Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)
Check out our awesome sponsors!
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Swan: The best way to buy, learn, and earn #Bitcoin (Link: http…
Ai Read_004 – Building a Language Model (Part 2)
“It’s important to step outside of the hype and critically-analyze what is and is not useful. It’s very easy to get caught up in “potential” applications, and allow the imagination to go all exponential on you. It’s a very human thing. Turning that imagination into something tangible is what a business and an entrepreneur does. It’s our hope this report will be useful along that path.”
~ Alek Svetski
Today we dive into Part 2 of the Bitcoin & Ai Industry Report to learn the intricacies and challenges of building an Ai model from scratch! We delve deep into the process, discussing the complexities of data collection, transformation, and the critical integration of human feedback.
Then to complete it, we take that knowledge to address many of the AI myths and misconceptions. Will AI replace humans? Is it going to take my job? Can I train my own AI? Is AGI around the corner? And much more! This is such a great episode for those who want to know and understand the process, of building AI…
If you haven’t yet, listen to the first half of this incredible report here: AI Read #003 – The Nexus of Bitcoin and AI (Part 1) (Link: https://fountain.fm/episode/5LpuF0EPE3sNxJq5ZbNJ)
Check out the original article at Spirit of Satoshi (Link: https://www.spiritofsatoshi.ai/#industry-report)
Guest Links
Spirit of Satoshi Nostr (Link: http://tinyurl.com/5n93z9sc)
Spirit of Satoshi on X (Link: https://twitter.com/Spirit_Satoshi)
Spirit of Satoshi on LinkedIn (Link: http://tinyurl.com/yc4raxc8
Spirit of Satoshi on AI (Link: http://tinyurl.com/5c29ze9t)
Host Links
Guy on Nostr (Link: http://tinyurl.com/2xc96ney)
Guy on X (Link: https://twitter.com/theguyswann)
Guy on Instagram (Link: https://www.instagram.com/theguyswann)
Guy on TikTok (Link: https://www.tiktok.com/@theguyswann)
Guy on YouTube (Link: https://www.youtube.com/@theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)
The Guy Swann Network Broadcast Room on Keet (Link: https://tinyurl.com/3na6v839)
Check out our awesome sponsors!
Fold: The best way to buy, use, and earn #Bitcoin on everything you do! Sats back on your debit card, gift cards, auto-buys, round-ups, you name it. Fold is the true bitcoiner’s banking. Get 20K sats for FREE using referral code bitcoinaudible.com/fold
Ready for best-in-class self custody?
Get the Jade here and use discount code ‘GUY’ to get 10% off (Link: bitcoinaudible.com/jade)
Trying to BUY BITCOIN?
River, secure, trusted, bitcoin only, lightning enabled, simple. (Link: https://bitcoinaudible.com/river)
Read_793 – How DigiCash Blew Everything
“Retrospectively, a lot of ex-DigiCash employees understand why Chaum was so paranoid. As a cryptographer you have to assume the whole world is trying to rip you off. A certain amount of paranoia is part of the job. Chaum had also worked for intelligence agencies, and that didn’t fortify his faith in the good intentions of humankind. His vision of the privacy of the individual was almost an obsession. In 1996 he said, in the relations magazine of Honeywell-Bull: “The difference between a bad electronic cash system and well-developed digital cash will determine whether we will have a dictatorship or a real democracy.”
~ NEXT Magazine, 1999
Today’s story unfolds around the rise and fall of DigiCash, a pioneering company in digital currency from the 90s. It delves into the paradox of its founder, David Chaum, a visionary yet paranoid cryptographer, whose brilliance in cryptography was overshadowed by his poor business acumen and inability to delegate. This leads to a compelling question: How did DigiCash, despite its advanced technology and potential to revolutionize digital payments, fail and how would the past have been different if it hadn’t?
This is an amazing blast from the past with many lessons to learn, don’t miss the article and the Guy’s Take to follow!
Check out the original article at How DigiCash Blew Everything. (Link: http://tinyurl.com/2s37ew47)
Host Links
Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)
Check out our awesome sponsors!
Get 9% off the COLDCARD with code BITCOINAUDIBLE (Link: bitcoinaudible.com/coldcard)
Swan: The best way to buy, learn, and earn #Bitcoin (Link: https://swanbitcoin.com)
“The most effective way to destroy people is to deny and obliterate their own understanding of their history.”
~ George Orwell
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Chat_090 – The Danger of Being Right Too Early with Devon Eriksen
Sometimes in life and the course of history, there are moments where simply stating the truth, in a clear and understandable way, can stir a fire in thousands or even millions of people.
Devon Eriksen, author and destroyer of socialist nonsense, joins us today to get to know him and his perspective. We discuss the nature of story, the importance of culture, the power of stating the simple truth, the dangers of being right too early, and what we need to do to turn the tide of a dying moral code and protect our values for future generations.
Links Referenced
Small Gods by Terry Pratchetts – Amazon (Link: http://tinyurl.com/28wx874m)
Theft of Fire: Orbital Space by Devon Eriksen – Amazon – Smashwords (Link: http://tinyurl.com/36vxwc9n) (Link: http://tinyurl.com/3k64zuc7)
More buying options (Link: http://tinyurl.com/yt5d35n3)
Devon’s Website (Link: http://tinyurl.com/yc6v5v7w)
Guest Links
Devon Eriksen on X (Link: https://www.twitter.com/Devon_Eriksen_)
Devon Eriksen Website (Link: https://www.devoneriksen.com/)
Host Links
Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)
Check out our awesome sponsors!
Get 9% off the COLDCARD with code BITCOINAUDIBLE (Link: bitcoinaudible.com/coldcard)
Swan: The best way to buy, learn, and earn #Bitcoin (Link: https://swanbitcoin.com)
“Enjoy the hell out of this one you will.”
~ Yoda
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Guy’s Take_079 – BITCOIN IS NOT MONEY
“I hope Bitcoin sticks around and grows more popular, but in its current form to most in #TradFi it is the opposite of SOUND MONEY, especially if it takes cult-like behavior to make it grow. It needs the STATE to force its use on everyone. That is what makes it MONEY.”
~ Samantha LaDuc
Today we dive into the enlightening twitter thread from financial analyst Samantha LaDuc on why Bitcoin cannot be and is not money, one of which is because money is enforced by the state, but that’s only just the beginning.
We witness another instance of the unfortunate confidence where people in finance mistakenly think that because they deal with money, and numbers, and charts, and P/E ratios, that this means they understand *money.* A very, very different discipline that is meaningful over far, far larger time horizons. So let’s take a peak into this world view, and then in the spirit of debate… tear it apart. I think you’ll enjoy this one
Check out the original tweet at Samantha La Duc’s profile. (Link: https://twitter.com/SamanthaLaDuc)
Referenced in the show
Debt: The First 5000 Years (Link: http://tinyurl.com/2ve3fxt2)
Guest Links
[Samantha La Duc Website] (Link: www.samanthaladuc.com)
Host Links
Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)
Check out our awesome sponsors!
Get 9% off the COLDCARD with code BITCOINAUDIBLE (Link: bitcoinaudible.com/coldcard)
Swan: The best way to buy, learn, and earn #Bitcoin (Link: https://swanbitcoin.com)
“Facts do not cease to exist because they are ignored.”
~ Aldous Huxley
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Ai Read_003 – The Nexus of Bitcoin and AI (Part 1)
There are so many myths and misconceptions around AI models. What they can do, how they are trained, even the fundamentals of how the data for them is even collected and formatted to make sense. The idea that we can “train our own model” by just feeding it a ton of conversation or notes is unrealistic, but why exactly is that?
Today we get into a 2 Part read which will be one of the most value dense we have covered on the show yet. It breaks down the entirety of the process of identifying the core value, and then sourcing, qualifying, and prepping the data, and then training, fine tuning, adjusting, and testing an AI model built from it, from beginning to end.
The Spirit of Satoshi project is an incredible open source endeavor and the team reveals tons of great details about the complexities and challenges of building an LLM, as well as the incredible work they are doing in building novel tools for crowdsourcing the hardest part of the process, and of course, how Bitcoin and Lightning enable better tools to make this all possible.
Check out the original articles at Spirit of Satoshi (Link: http://tinyurl.com/4jsvmz3z) & Satoshi GPT (Link: http://tinyurl.com/msyr4m5t)
Host Links
Guy on Nostr (Link: http://tinyurl.com/2xc96ney)
Guy on X (Link: https://twitter.com/theguyswann)
Guy on Instagram (Link: https://www.instagram.com/theguyswann)
Guy on TikTok (Link: https://www.tiktok.com/@theguyswann)
Guy on YouTube (Link: https://www.youtube.com/@theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)
The Guy Swann Network Broadcast Room on Keet (Link: https://tinyurl.com/3na6v839)
Check out our awesome sponsors!
Fold: The best way to buy, use, and earn #Bitcoin on everything you do! Sats back on your debit card, gift cards, auto-buys, round-ups, you name it. Fold is the true bitcoiner’s banking. Get 20K sats for FREE using referral code bitcoinaudible.com/fold
Ready for best-in-class self custody?
Get the Jade here and use discount code ‘GUY’ to get 10% off (Link: bitcoinaudible.com/jade)
Trying to BUY BITCOIN?
River, secure, trusted, bitcoin only, lightning enabled, simple. (Link: https://bitcoinaudible.com/river)
Bitcoin Games!
Get 10% off the best Bitcoin board game in the world, HODLUP! Or any of the other great games from the Free Market Kids! Use code GUY10 at checkout for 10% off your cart! (Link: https://www.freemarketkids.com/collections/games-1)
Bitcoin Custodial Multisig
Want to get into Bitcoin but not ready for self custody? Use custodial multisig for the best way to distribute trust across multiple institutions and even jurisdictions! Check out OnRamp. (Link: BitcoinAudible.com/onramp)
Education & HomeSchooling
Get the lesson in real eco…
Read_792 – How CTV Helps Scale Bitcoin
“Part of the problem of Lightning’s shortcoming regarding scalability of Bitcoin ownership is that in order to open a channel, or control a UTXO, you actually have to transact on the base layer. After that Lightning can facilitate a very large number of transactions off-chain but a user must still transact on-chain to onboard themselves to Lightning, It massively increases the number of transactions Bitcoin can process but it does nothing at all to increase the number of people who can own bitcoin.
~ Shinobi
With scaling a hot issue again, and CTV coming back from the dead with concrete proposals, and covenants on the table, its time to dive back in and make sense of the options, and the concept of scaling not just bitcoin payments, as lightning has done, but Bitcoin ownership. From UTXOs to virtual UTXOs, could this primitive be the next major step in bringing Bitcoin sovereignty to the whole world?
Check out the original article at How CTV Helps Scale Bitcoin. (Link: https://bitcoinmagazine.com/technical/how-ctv-can-help-scale-bitcoin)
A great primer for this episode and discussion is
Read_791 – Rethinking Lightning (Link: http://tinyurl.com/4wa6hxcv)
Guest Links
Brian Trollz on X (Link: https://twitter.com/guest)
Brian Trollz on Bitcoin Magazine (Link: http://tinyurl.com/bded6sw8)
Host Links
Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)
Check out our awesome sponsors!
Get 9% off the COLDCARD with code BITCOINAUDIBLE (Link: bitcoinaudible.com/coldcard)
Swan: The best way to buy, learn, and earn #Bitcoin (Link: https://swanbitcoin.com)
“The best way to find out if you can trust somebody is to trust them.”
~ Ernest Hemingway
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Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Chat_089 – Lightning’s Next Era with Sam Wouters
There are a lot of speculation, claims, predictions, and accusations around the successes and faults of the Lightning Network. But where do this things fall when we look at the boots on the ground metrics? When we really look at the hard data, what can we know for certain? Today we dig into the past few years of lightning development and growth with Sam Wouters from River, author of the incredible Lightning Report released in August of last year.
If you are interested in the truth of Lightning, this is a conversation not to miss.
Guest Links
Sam Wouters on X (Link: https://twitter.com/SDWouters)
Sam Wouters on Blog River (Link: https://blog.river.com/author/sam/)
Sam Wouters Website (Link: https://samwouters.com/)
Host Links
Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)
Check out our awesome sponsors!
Get 9% off the COLDCARD with code BITCOINAUDIBLE (Link: bitcoinaudible.com/coldcard)
Swan: The best way to buy, learn, and earn #Bitcoin (Link: https://swanbitcoin.com)
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Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Guy’s Take_078 – Are the ETFs the End of the Bitcoin Dream?
The legacy financial system has arrived. One January 10th, numerous Bitcoin ETFs were approved. But is this even a good thing? What does this signal for the legitimacy of Bitcoin as an asset? What does it mean for the sovereignty of the network? This could both bring trillions of dollars in liquidity into Bitcoin and break through the Overton window of the average person. This may make bitcoin “real” for many who refused to pay attention before. But the big question… the real risk, is if we cannot scale sovereignty in Bitcoin to everyone in the world, what if we just end up with Gold 2.0? In a world of unbacked paper, and no way out?
It’s time for a Guy’s take episode. Are the ETFs the End of the Bitcoin Dream?
References
“Reminder that the agency that can’t keep its twitter account safe wants all of your trading information” (Link:http://tinyurl.com/mr587bhd)
Host Links
Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)
Check out our awesome sponsors!
Get 9% off the COLDCARD with code BITCOINAUDIBLE (Link: bitcoinaudible.com/coldcard)
Swan: The best way to buy, learn, and earn #Bitcoin (Link: https://swanbitcoin.com)
“No man is brave that has never walked a hundred miles. If you want to know the truth of who you are, walk until not a person knows your name. Travel is the great leveler, the great teacher, bitter as medicine, crueler than mirror-glass. A long stretch of road will teach you more about yourself than a hundred years of quiet.”
~ Patrick Rothfuss
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Ai Take_013 – Become Anyone With Ai
Today we explore the tools for voice changing ai and text-to-speech. What is Guy using, and what are the impacts of instant and easy voice copying be on content creation, copyright, the meme lords, fraud, and personal identity.
Referenced in the show
ElevenLabs.io (Link: https://elevenlabs.io/)
Altered.ai (Link: https://www.altered.ai/)
Episode #011 – The Fears of Ai (Link: http://tinyurl.com/4v9rj98r)
Could Ai Go Nuclear? – Ai Unchained #003 – The Dark Side of Ai with Alex Lewin (Link: http://tinyurl.com/2pxkv5n3)
Host Links
Guy on Nostr (Link: http://tinyurl.com/2xc96ney)
Guy on X (Link: https://twitter.com/theguyswann)
Guy on Instagram (Link: https://www.instagram.com/theguyswann)
Guy on TikTok (Link: https://www.tiktok.com/@theguyswann)
Guy on YouTube (Link: https://www.youtube.com/@theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)
The Guy Swann Network Broadcast Room on Keet (Link: https://tinyurl.com/3na6v839)
Check out our awesome sponsors!
Fold: The best way to buy, use, and earn #Bitcoin on everything you do! Sats back on your debit card, gift cards, auto-buys, round-ups, you name it. Fold is the true bitcoiner’s banking. Get 20K sats for FREE using referral code bitcoinaudible.com/fold
Ready for best-in-class self custody?
Get the Jade here and use discount code ‘GUY’ to get 10% off (Link: bitcoinaudible.com/jade)
Trying to BUY BITCOIN?
River, secure, trusted, bitcoin only, lightning enabled, simple. (Link: https://bitcoinaudible.com/river)
Bitcoin Games!
Get 10% off the best Bitcoin board game in the world, HODLUP! Or any of the other great games from the Free Market Kids! Use code GUY10 at checkout for 10% off your cart! (Link: https://www.freemarketkids.com/collections/games-1)
Bitcoin Custodial Multisig
Want to get into Bitcoin but not ready for self custody? Use custodial multisig for the best way to distribute trust across multiple institutions and even jurisdictions! Check out OnRamp. (Link: BitcoinAudible.com/onramp)
Education & HomeSchooling
Get the lesson in real economics that you never got in school, and teach your kids the truth, not the statist insanity that is Keynesianism. Liberty Classroom is the invaluable resource you are looking for! (Link: BitcoinAudible.com/Liberty)
Read_791 – Rethinking Lightning
” Channel liquidity and offline receives, in my opinion, are the two most obvious reasons why self-custodial lightning is not popular. When most users hear about any of these, they just think “screw that” and move to a custodial wallet because it is so much easier. If these were our only two problems, I think self-custodial lightning would be fine. It may never be the predominant way people use lightning, but we could get the UX good enough that we have a significant portion of people using lightning in a sovereign way. However, there are more problems under the surface.”
~ BenTheCarmen
Is it time to reframe our image of where lightning’s role lies in the Bitcoin stack? There have been problems in the implementation that make the self custodial road a far more difficult UX challenge. While much of it has been mitigated, a few intractable problems remain, and some may be an existential result of how LN enforces security on the main chain. Where will the users be in a world of a billion Bitcoin users? And can the promise of lightning ever be fulfilled?
Check out the original article at Rethinking Lightning. (Link: http://tinyurl.com/mvcmwubk)
References from the Show
Welcome to the Fedimint territory! (Link: https://stacker.news/items/380065)
Guest Links
Carman on X (Link: http://tinyurl.com/yc57hdnh)
Carman on Nostr (Link: http://tinyurl.com/3yz2kffw)
Carman Website (Link: https://benthecarman.com/)
Host Links
Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)
Check out our awesome sponsors!
Get 9% off the COLDCARD with code BITCOINAUDIBLE (Link: bitcoinaudible.com/coldcard)
Swan: The best way to buy, learn, and earn #Bitcoin (Link: https://swanbitcoin.com)
“There are no solutions, there are only trade-offs.”
~ Thomas Sowell
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Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Read_790 – The African Village Mining Bitcoin
“The computers used to create valuable new Bitcoin tokens and validate transactions consume around the same amount of energy as a medium-sized country such as Sweden would generate. Hence the stinging critique of how this cryptocurrency wastes the planet’s precious resources.” — Ian Birrell
Is it true that Bitcoin only wastes energy and is the sole purview of financial gambling and speculation in the western world, or are there boots on the ground showing the real results of the “pioneer species” thesis we’ve recently covered? What if Bitcoin is bringing both financial independence, and electricity, those those with no other viable options? This incredible article is not to be missed.
Check out the original article at The African village mining Bitcoin – UnHerd (Link: https://unherd.com/2024/01/the-african-village-mining-bitcoin/)
References
Madness of Crowds (Link:https://a.co/d/dCme4WS)
Check your Financial Privilege (Link:https://a.co/d/bcPHV1Y)
Bitcoin is a Pioneer Species (Link:https://fountain.fm/episode/LYZMMtMFMnP0UaEmeCve)
Host Links
Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)
Check out our awesome sponsors!
Get 9% off the COLDCARD with code BITCOINAUDIBLE (Link: bitcoinaudible.com/coldcard)
Swan: The best way to buy, learn, and earn #Bitcoin (Link: https://swanbitcoin.com)
“Technological change is not additive; it is ecological. A new technology does not merely add something; it changes everything.”
― Neil Postman
—
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