Read_754 – Bitcoin Is Not Crypto, The SEC Confirms
“Talk to a bitcoin maximalist – someone who believes that bitcoin is the only digital asset with innate value – and, more likely than not, they’ll tell you the world’s oldest cryptocurrency is, in fact, ‘not crypto’ at all.
The refrain can be confusing: clearly, bitcoin pioneered the use of cryptography – an ultra-secure type of encryption – with the aim of creating a digital currency. Bitcoin is the archetypal crypto.
And yet, in the context of how the digital asset marketplace has evolved since 2009, when bitcoin was created, it’s easy to see why maximalists distance themselves from the more generic term” — Martin Leo Rivers
Today we cover some interesting developments from the regulatory landscape. The SEC has officially made statements suggesting that everything in crypto except Bitcoin, is in fact, a security. What does that mean for the space in general, and why is this refrain so common among bitcoiners? Find out in today’s read and Guy’s take.
Check out the original article: Bitcoin Is Not Crypto, The SEC Confirms
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“Life without liberty is like a body without spirit.” — Kahlil Gibran
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Read_753 – Bitcoin Timestamp Security [Jameson Lopp]
“Bitcoin is often referred to as a secure timestamping service. We never had a global record of truth with trustworthy timestamps, so how did this come about? It’s generally due to Proof of Work being combined to a few simple rules by which miners must abide.” — Jameson Lopp
Can Bitcoin’s sense of time be broken? The security and probabilistic assurances of Bitcoin seem simple on their face, but when you dive a little deeper, there is so often tons of nuance and quiet brilliance to unpack around even a seemingly simple element, like recording what time the block was produced. Jameson Lopp brings us another excellent deep dive into the nature of Bitcoin as a secure timestamp server. What it means, how reliable it truly is, and what it looks like when it breaks.
Check out the original article: Bitcoin Timestamp Security
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“When you want to know how things really work, study them when they’re coming apart.” ― William Gibson
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Read_752 – Bitcoin Becomes the Flag of Technology [Balaji S. Srinivasan]
“Bitcoin represents the explicit encoding of previously implicit values of the tech community. It’s not just software — it is a Schelling point and a symbol. As such, it will become widely recognized as the flag of technology over the course of the 2020s.” — Balaji S. Srinivasan
Today we cover another read from Anil’s Bitcoin Essentials list, this time from Balaji Srinivasan. Balaji has a way with words and always brings a unique, high level mental frame to how the world is unfolding. He seems to have a gift of talking about the current state of the world, as if he is seeing it through the lens of history. With that perspective, he examines the aggressive technological shifts and the Bitcoin system to parse out the values of each, and explain, in his words, why he believes Bitcoin will become the flag for the technological revolution.
Check out the original article: Bitcoin becomes the Flag of Technology
Links:
Anils reading list: Essential Bitcoin Essays: A Reading List
Link to rap battle: Bitcoin Rap Battle Debate: Hamilton vs. Satoshi (BITCOIN GIVEAWAY) [feat. EpicLloyd, TimDeLaGhetto] – YouTube
Balaji’s Twitter: @balajis
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Read_751 – Decentralization: Why Dumb Networks Are Better [Andreas Antonopolous]
“Some networks are “smart.” They offer sophisticated services that can be delivered to very simple end-user devices on the “edge” of the network. Other networks are “dumb” — they offer only a very basic service and require that the end-user devices are intelligent. What’s smart about dumb networks is that they push innovation to the edge, giving end-users control over the pace and direction of innovation. Simplicity at the center allows for complexity at the edge, which fosters the vast decentralization of services.Surprisingly, then, “dumb” networks are the smart choice for innovation and freedom.” — Andreas Antonopolous
Today we read another “Bitcoin classic” that deserves a place on the Bitcoin Audible catalog. Back from 2015, Andreas writes an incredible piece, still fundamental to understanding Bitcoin and the nature of decentralization to this day, why “dumb” networks are better. What does he mean by this, and why would a dumb network foster innovation, where a smart network stifles it? Don’t miss this essential piece of Bitcoin history.
Andreas’ Website: https://aantonop.com/
Anil’s reads list: Essential Bitcoin Essays: A Reading List
Check out the original article: Decentralization: Why Dumb Networks Are Better – Foundation for Economic Education
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“Liberty is not merely one particular value…it is the source and condition of most moral values. What a free society offers to the individual is much more than what he would be able to do if only he were free.” — F.A. Hayek
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Read_749 – Economics of Bitcoin as a Settlement Network [Saifedean]
“The obsession with consumer payments in the Bitcoin community is an unfortunate relic of the fiat money era. Generations that have only known monetary hot potatoes that need to be spent before they devalue have come to view life as a quest of mass consumption.” — Saifedean Ammous
Today we hit an historical piece from the one and only Saifedean on the economics of Bitcoin for global settlement. While so many fail to recognize the deeper value of money, rather than the shallow service of payments, Saif breaks down the fundamental value of Bitcoin’s incredible settlement assurances, and the economics that will dominate the system’s use in the future. A classic from the Nakamoto Institute.
PS. Yes, I know I skipped a number so we are fixing that today. XD
Heck out the original article plus the incredible list of phenomenal knowledge available at the Nakamoto Institute: https://nakamotoinstitute.org/mempool/economics-of-bitcoin-as-a-settlement-network/?ref=teachingbtc.com
Anil’s reads list: Essential Bitcoin Essays: A Reading List
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“Nowadays people know the price of everything and the value of nothing.” — Oscar Wilde
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Read_750 – Capital in the 21st Century [Allen Farrington]
“To do our best to minimize the economics jargon once again, we might simply ask: what are you going to do with your time? Are you going to create or consume? And how do the characteristics of money, as the salable representation of that time, influence your decision? I sincerely believe that this is the killer app for Bitcoin: pricing capital. If there were ever a time to say that Bitcoin Fixes This, here it is.” — Allen Farrington
On the announcement of AxiomBTC, Allen Farrington writes an incredible introductory paper on the concept behind their project and what the true purpose and power of Bitcoin really is. This is how we take Bitcoin into the future, this is how we let Bitcoin allocate resources to fix the problems of our fiat world. And don’t miss the intense Guy’s Rant that Allen’s work always seems to inspire…
Check out the original article at: Capital in the 21st Century — Axiom
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“Growth for the sake of growth is the ideology of the cancer cell.”
— Edward Abbey
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Read_748 – Bitcoin & the Rise of the Cypherpunks [Lopp]
“While many of the innovations in the space are new, they’re built on decades of work that led to this point. By tracing this history, we can understand the motivations behind the movement that spawned bitcoin and share its vision for the future.”
Context matters. If you don’t know the history of the cypherpunks and where we are coming from. Then you may not really know where we are today. Listen to Lopp’s amazing piece from 2016, Bitcoin & the Rise of the Cypherpunks.
Check out the original article at: Bitcoin and the Rise of the Cypherpunks
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“All political theories assume…that most individuals are very ignorant. Those who plead for liberty differ…in that they include among the ignorant themselves as well as the wisest.” — F.A. Hayek
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Read_747 – The Bondholder’s Burning Platform [Croesus]
“Since 1800, in 51 out of 52 cases where a country’s debt-to-GDP ratio reached 130%, the country eventually defaulted. The only exception is current Japan, who is frankly in the final stages of circling the drain (e.g., central bank asset purchases and yield curve control).
Where is the US now? 129% debt-to-GDP.” — Jesse Myers
Don’t miss this excellent breakdown and visual analogy for the state of government debt and the promises of the US Treasury and the impossibility of a stable or growing value of the dollar in the future. The debt will be paid, in nominal terms, but the ability to hide the value loss in inflation overseas, is not holding up. Then add to this the BRICS nations establishing an eastern block of economic and monetary power… and you have a recipe for fire. Hope you aren’t invested in wood…
Check out the article and the many other great links mentioned in the show:
The Bondholder’s Burning Platform – by Jesse Myers:
https://www.onceinaspecies.com/p/the-bondholders-burning-platform
The Capital Strip Mine:
https://open.spotify.com/episode/6ifbWDnYHRGxrhd1NPv4BS?si=4da8844065a74db1
Read_587 – Bitcoin & The American West:
https://open.spotify.com/episode/0yEVCnBkTHT4IL01hEwTGe?si=c131120a77d34283
Read_512 – Why The Yuppie Elite Dismiss Bitcoin:
https://open.spotify.com/episode/0opbypclyNDF1GtwiL6Nbo?si=7d426c81415a43b8
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“All that is gold does not glitter, Not all those who wander are lost.” — J.R.R. Tolkien
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Guy’s Take #68 – Lightning & the Ai Economy
Ai agents are going to be able to seek out, delegate, and pay for micro services from an ecosystem of other agents & services. But the resources being share will be delivered instantly, and irreversibly in the form of compute cycles. Only an instant, bearer, and irreversible payment method that scales massively will be able to meet the demands and provide a backbone for the economy of Ai exchange. In this Guy’s Take episode, I argue why I think Lightning is going to eat ALL of this ecosystem, and why fiat is incompatible. This is Guy’s Take #68 – Lightning & the Ai Economy…
Definitely don’t miss the conversation that got me headed down this rabbit hole on Ai Unchained: https://youtu.be/hI19IaODZPA
Bobby’s thread with further links to explore on Twitter:
https://twitter.com/iBobbyShell/status/1671485924218228737?s=20
More resources to explore on this topic:
https://lightning.engineering/posts/2023-07-05-l402-langchain/
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Reboot – Bitcoin and The American Idea [Alex Gladstein]
“Today Americans celebrate 246 years of independence from the British Empire. On this day in 1776 the Founding Fathers made a declaration. It was a bold and risky action. Never before had a colonial state defeated its overlord, especially at the apex of its global power.” — Alex Gladstein
For Independence Day and for all those travelers out there I’m bringing back an absolutely amazing piece by the one and only Alex Gladstein. If you haven’t heard it, then you are welcome for bringing it back. If you have heard it already… then you are welcome for bringing it back
Link to the original where you’ll also find Gladstein’s other great works:
https://bitcoinmagazine.com/culture/bitcoin-and-the-american-idea
HAPPY 4TH!
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“The price of freedom is eternal vigilance.” — Thomas Jefferson
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Ai_005 – Ai, Fiat Incompatible with Kody Low
“So we had built this for a while, but because API calls are basically free, there really wasn’t a good match for it. There were some good matches for it and people would do it, but as they were doing it, it was like ‘I can do it this way, but I can also do it with dollars.’ This is kind of a really interesting paradigm when it comes to Ai stuff is that there’s basically 3 or 4 different aspects of Ai that make it so you cannot use credit card relationships to solve the monetization problems there. But you can with Bitcoin and Lightning as it exists today, not requiring any changes to the protocol…”
~ Kody Low
Today we dive into an incredible conversation with Kody Low from Fedi, who is hosting the Ai4All hackathon and believes he has found a solution to an increasingly huge, and seemingly impossible problem within Ai, that you can no longer distinguish human from robot online. What happens when Ai can create an infinite number of new identities? Is this the end of the open internet? find out in this awesome episode.
Links to the content mentioned on the show to check out
Andre Karpathy – Let’s build GPT: from scratch, in code, spelled out (Link: https://www.youtube.com/watch?v=kCc8FmEb1nY)
Brian Roemmelle on X (Link: https://twitter.com/BrianRoemmele)
ChatGPT and the Dawn of Computerized Hyper-Intelligence | Brian Roemmele | EP 357 (Link: https://www.youtube.com/watch?v=S_E4t7tWHUY)
GPT4ALL – A free-to-use, locally running, privacy-aware chatbot. No GPU or internet required (Link: https://gpt4all.io/index.html)
Fedi – Community money, chat, and more (Link: https://www.fedi.xyz/)
Stakwork.ai – With business process automation that integrates an always-on network of cloud sourced workers, it doesn’t have to. | Stakwork | A New Way to Get Work (Link: https://stakwork.ai/)
Join the Hackathon! Follow everything going on in the Ai4All tournament or become a builder yourself (Link: http://tinyurl.com/35yzcn9b)
Guest Links
Kody Low on X (Link: https://twitter.com/kodylow)
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)
…
Read_746 – Orange Pilling Your Barber [Hector Alvero]
“Your barber or stylist likely has the broadest network of anyone you know. People from every walk of life, including business owners, accountants, teachers, firefighters and politicians, sit in their chairs, sometimes for hours. It is likely that no one else in your sphere of influence has the amount of time and trust to help others learn about and understand Bitcoin.” — Hector Alvero
We dive into a great, succinct Bitcoin Magazine article today on a surprisingly ripe, yet untapped resource for orange pilling. By focusing on the cultural mavens, those with the broadest networks and a unique environment for sharing ideas, could there be a shortcut to hyperbitcoinization? Hector makes a decent case that there might jsut be…
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“That is the paradox of the epidemic: that in order to create one contagious movement, you often have to create many small movements first.” ― Malcolm Gladwell
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