Basics_02 – Hashes & Proofs of Work
In order to truly understand why Bitcoin works, we must understand a fundamental tool that operates at basically every level of the system. The hash function. And using the hash function, we can build one of the most important elements of the game theory that keeps the system honest, Proof of work. This is the second episode of the Bitcoin Basics series: Hashes & Proofs of Work
To play around yourself with the hashing tools discussed you can:
– open a Terminal window on your Mac or Linux computer and type…
shasum -a 256 [insert file]
Replacing [insert file] with the file path of whatever you wish to hash (you can usually drag and drop)
– On Windows open the “command prompt” and type…
Get-FileHash -Path [insert file]
To verify my Proof of Work done in the episode:
echo -n “H18” | shasum -a 256
(this works on Mac & Linux, but unfortunately the process on Windows was too complicated to go through the trouble of confirming it)
Don’t forget to check out our amazing sponsors:
• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 9% off everything in your cart! (https://guyswann.com/coldcard)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20,000 FREE SATS! at (https://guyswann.com/fold)
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
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“You never change things by fighting the existing reality. To change something, build a new model, that makes teh existing model obsolete.” – R. Buckminster Fuller
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Read_698 – An Orange Pill for Bitcoiners [Austin Herbert]
“But, I keep coming to the same conclusion: We are here for this movement. We are here to build a parallel economy that will eventually take over the old fiat system.
I’m not a dev, I don’t have a large audience, I don’t have meetings with Jeff Bezos or presidents like Jack Ballers (no, that is not a typo).
One day, I came to this realization: I’m not the only one struggling transporting people into the new world. Cough, cough… .01%. We are all struggling to unplug people from the matrix. Hence, my motivation behind “An Orange Pill For Bitcoiners.”
This is my first and probably will be the last article I ever write. But I had this “ah ha” moment a few months back. I was at the gym…”
– Austin Herbert
When the light goes on and we finally “see” Bitcoin, it’s impossible to view the world the same way. We go “down the rabbit hole” and irrevocably change our perspective of how the world works. We take the orange pill.” But for a technology that is so compelling, an innovation so astonishingly important, why are we still so few in number? Why has it still been so hard to wake others up and get them to “see what we see?” Austin Herbert tells his story of orange pilling, his struggles, and why the ones who need an orange pill the most, are actually already Bitcoiners… A must listen.
Don’t forget to check out our amazing sponsors:
• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 9% off everything in your cart! (https://guyswann.com/coldcard)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20,000 FREE SATS! at (https://guyswann.com/fold)
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
————————————–
“We shall not cease from exploration. And the end of all our exploring will be to arrive where we started and know the place for the first time.” – T.S. Elliot
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Read_697 – The Trillion Dollar Coin, Genius or a Joke? [James Lavish]
“To wit, we have raised the debt limit 22 times from 1997 to 2022. Yep, we’ve raised the limit 22 times in 25 years. Let that sink in for a moment. OK, so now that we’re all on the same you’ve-got-to-be-kidding-me-with-the-endless-and-reckless-spending-of-the-US-Government page, let’s dig into the mechanics a bit.” – James Lavish
We’ve hit the awful, shocking, totally unexpected debt ceiling again! OH MY! What ever will we do this time? Wait… I’ve got a brilliant plan. The Treasury can mint a Trillion Dollar Coin! And our problems will go away. Is this utter genius… or is this an embarrassing joke? I’ll let James Lavish take it from here in a very entertaining read from his substack, The Informationist.
Check out the original and the excellent substack over at James Lavish’s “The Informationist”:
https://jameslavish.substack.com/p/the-trillion-dollar-coin-genius-or
Don’t forget to check out our amazing sponsors:
• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 9% off everything in your cart! (https://guyswann.com/coldcard)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20,000 FREE SATS! at (https://guyswann.com/fold)
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
————————————–
“As it turns out we don’t all have to pay our debts. Only some of us do.” – David Graeber, Debt the First 5000 Years
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Keet AMA – Twitter Spaces on January 30th
Mathias and Paolo join us for a Twitter Spaces AMA to answer all of your questions about this cutting-edge technology. Plus, don’t forget to check out KEET’s mobile release! The app is available on both the Apple App Store and Google Play Store. Tune in now for a thrilling Q&A on the future of privacy, secure communication, data sovereignty, & the nascent P2P economy.
Everything to check out to dive into the P2P revolution:
keet.io
holepunch.to
synonym.to
slashtags.to
Don’t forget to leave any feedback at the links below and/or boost and comment on the Fountain app at fountain.fm
…
Follow the white rabbit
…
Don’t forget to check out our amazing sponsors:
• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 9% off everything in your cart! (https://guyswann.com/coldcard)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20,000 FREE SATS! at (https://guyswann.com/fold)
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
————————————–
“Withholding information is the essence of tyranny. Control of the flow of information is the tool of the dictatorship.”
― Bruce Coville
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Chat_76 – Keet, The Next Level
WEN MOBILE!? No more do we have to ask because Keet mobile has finally arrived! Download from the App Store or Google Play to check it out and join us in the P2P revolution. This is only the beginning, a foundation for an entirely new way to interact on the internet and we dive into all of it with many questions you sent to me to ask Mathias and Paolo who are breathing life into new P2P, fully encrypted applications. You don’t want to miss it.
Everything to check out to dive into the P2P revolution:
keet.io
holepunch.to
synonym.to
slashtags.to
Don’t forget to leave any feedback at the links below and/or boost and comment on the Fountain app at fountain.fm
…
Follow the white rabbit
…
Don’t forget to check out our amazing sponsors:
• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 9% off everything in your cart! (https://guyswann.com/coldcard)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20,000 FREE SATS! at (https://guyswann.com/fold)
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
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“Cypherpunks write code. We know that someone has to write software to defend privacy, and since we can’t get privacy unless we all do, we’re going to write it. We publish our code so that our fellow Cypherpunks may practice and play with it. Our code is free for all to use, worldwide. We don’t much care if you don’t approve of the software we write. We know that software can’t be destroyed and that a widely dispersed system can’t be shut down.” – Eric Hughes
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Read_696 – Currencies Today are “IOU Nothings” [John Exter]
“Today no money in the world fully performs all three services. National currencies are being used as means-of-payment and standard-of-value money, b u t none in this inflationary age is an assured store-of-value money. In fact, a foremost concern to voters and politicians everywhere is that so many currencies are so rapidly losing their value in terms of commodities and services. Commodities like gold and silver, which are being used as store-of-value money, are not being used as either means-of-payment or standard-of-value money. Thus the world we have so long known, in which most currencies were redeemable at a fixed price in a store-of-value money like gold, is in disarray.” – John Exter, at AIER
Today we take a trip into the past, back to 1972 for an image of what happened to money so we can rid ourselves of our normalcy bias and see our current monetary age for what it truly is: a volatile, failed experiment in baseless, politically manipulated currency that is stepping into its endgame. And also to see Bitcoin for what it truly is: the first money to be both digital and have the fully necessary characteristics to serve all major functions of a sound and global monetary good as we have had in over a century. With that, let’s dive in…
Mentioned in the episode for exploring more ideas around bitcoin terminology and fundamentals:
The Words We Use in Bitcoin: https://open.spotify.com/episode/47GHmnqX6a8Yjv4zRL7K7z?si=a01120b0b40e420c
Don’t forget to leave any feedback at the links below and/or boost and comment on the Fountain app at fountain.fm
Don’t forget to check out our amazing sponsors:
• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 9% off everything in your cart! (https://guyswann.com/coldcard)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20,000 FREE SATS! at (https://guyswann.com/fold)
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
————————————–
“Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.” – John Maynard Keynes
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Basics_01 – Bitcoin… What is it?
Sure, everyone tells me that bitcoin is a new technology. That it’s magic money for the internet and tokens you can buy and stick in an app that will probably be worth more later. But seriously… what the hell does all of that mean? I get that Bitcoin is a thing, but ‘What is it?’
Well let’s get into it, with the first episode of Bitcoin Basics.
Other episodes & works mentioned to dive deeper into these ideas are linked below:
Guy’s Take #44 – Bitcoin is Not What you Think it is
Read_000 – The Bitcoin Whitepaper
Layered Money
21 Lessons: What I’ve Learned from Falling Down the Bitcoin Rabbit Hole
Read_660 – Bitcoin is Digital Scarcity
Don’t forget to leave any feedback at the links below and/or boost and comment on the Fountain app at fountain.fm
Don’t forget to check out our amazing sponsors:
• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 9% off everything in your cart! (https://guyswann.com/coldcard)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20,000 FREE SATS! at (https://guyswann.com/fold)
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
————————————–
“Bitcoin is peer to peer in every sense; it is so by design and it could not be any other way. As free and open source, it is peer-to-peer software; as consensus-driven software, it is a peer-to-peer protocol; as a censorship-resistant protocol, it is a peer-to-peer app; as a distributed app, it is a peer-to-peer network; as a communications network, it is a peer-to-peer language; and as a peaceful language, it is a peer-to-peer community.” – Allen Farrington & Sacha Meyers. Bitcoin is Venice
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Read_695 – Central Banks are Inflation Creators, Not Inflation Fighters [Josh Hendrikson]
“All of this is important because there has been a resurrection of Burns-type positions in the current debate about the cause of higher inflation rates. Senator Elizabeth Warren blames the rising inflation on greedy corporations raising their prices. Others have blamed rising prices on the greater prevalence of monopolies. Antitrust is apparently an anti-inflation tool. Make no mistake, these ideas are wrong. A belief that greed is responsible for inflation requires a belief that firms waited 40 years to collectively and simultaneously raise prices—an amazing level of planning and discipline.” – Joshua Hendrikson
ITs important to have context and break through the noise when it comes to the inflation debate. As it becomes a dominant talking point in politics, media, and on Twitter, it’s important to be able to identify and understand the principles being argued about, because almost everyone will be arguing form a set of premises that simply aren’t true. So let’s dive into this report and explore.
Check out the link below to Josh’s other works:
https://www.mercatus.org/scholars/joshua-r-hendrickson
Plus the Guy’s Take mentioned in the show exploring an analogy of the boom and bust cycle:
https://open.spotify.com/episode/0W5Yp0gwFGK87qAJurULR0?si=b19e940d911245d7
Don’t forget to check out our amazing sponsors:
• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 9% off everything in your cart! (https://guyswann.com/coldcard)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 50,000 FREE SATS! at (https://guyswann.com/fold)
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
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“The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.” – Ludwig Von Mises
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Read_694 – Locked Out of My Digital Life [edent]
“Last night, lightning struck our house and burned it down. I escaped wearing only my nightclothes. In an instant, everything was vaporised. Laptop? Cinders. Phone? Ashes. Home server? A smouldering wreck. Yubikey? A charred chunk of gristle. This presents something of a problem.” – Edent
Today we read a story told from the perspective of someone who’s entire life changed by the strike of lightning, and suddenly they were locked out of everything. A great short read to start thinking about the failure modes of our security setup, and which definitely got me to reconsider a couple of elements of my own system. With more and more of our value digital, this is increasingly important.
Check out the original with lots of comments and other things to explore at the link below:
https://shkspr.mobi/blog/2022/06/ive-locked-myself-out-of-my-digital-life/
Mentioned in the episode for further listening:
Another Way to Think of Bitcoin’s Value: https://open.spotify.com/episode/5d8O5XztARIi0eI7lYMmSN?si=6b3fdde44f1f442f
The Capital Strip Mine: https://open.spotify.com/episode/6ifbWDnYHRGxrhd1NPv4BS?si=5f4d7d9d54a94613
Don’t forget to check out our amazing sponsors:
• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 10% off everything in your cart! (https://guyswann.com/coldcard)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 50,000 FREE SATS! at (https://guyswann.com/fold)
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
————————————–
“Expect the best. Prepare for the worst. And capitalize on what comes.” – Zig Ziglar
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Read_693 – Lightning & The Airport Analogy [Danny Scott]
“But as with all new technology, it can be incredibly hard to explain what’s actually happening, without getting too complex. This got me thinking about Bitcoin education and how to ELI5 (Explain Like I’m 5) with Bitcoin Lightning, enter… Bitcoin Lightning: The Airport Analogy” – Danny Scott
Today we hit a short piece but a really great analogy in order to make sense of the lightning network. Since I’ve recently had a few people ask me about this and a fellow audionaut made a great suggestion for a short article, I thought this would be good to hit especially in the spirit of trying to get back to covering some of the fundamentals of Bitcoin and how it and many of the tools around it work, in simple, digestible explanations. And so we paint an easy picture of Lightning, with the Airport Analogy.
Link to Danny’s medium page for his other writing and more from the CoinCorner Blog:
https://blog.coincorner.com/how-bitcoin-lightning-works-a21fdb5f0450
Another great pice mentioned in the Guy’s Take is Isaiah’s Job:
https://open.spotify.com/episode/5snLqMe7gd9crBvKpcBT5G?si=b06aa288bfa748ca
Check out the show on Fountain:
https://fountain.fm/show/RtZlWdbEbpyEyjBNbeQ7
Don’t forget to check out our amazing sponsors:
• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 9% off everything in the store until Christmas! (https://guyswann.com/coldcard)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 5,000 FREE SATS at (https://guyswann.com/fold)
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
————————————–
“If you can’t explain is simply, then you don’t understand it well enough.” – Albert Einstein
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Guy’s Take_063 – Anatomy of a Scam, The IMF and World Bank Empire
Today we break into the racket that is the IMF and World Bank monetary imperialism. Piggy backing off Gladstein’s remarkable piece detailing the horrific consequences of this system and the clear intent and disregard for human life and basic freedoms, we discuss the fundamental principles of sound money that would be a basis to prevent this, how the fiat system gets around this balancing forces and corrupts the incentives, and how Bitcoin and a global neutral standard may finally bring about its end.
Listen to the full work by Gladstein, of the other piece mentioned in this Guy’s Take from Nayib Bukele:
Structural Adjustment: https://open.spotify.com/episode/4SIvE5gOkPuG6Hv6P8UYMr?si=8fe60145e5c44638
Stop Drinking the Elite’s Kool-aid: https://open.spotify.com/episode/1eXeTRTccQvDTqauRicdEi?si=a44236b05ae04b78
Don’t forget to check out our amazing sponsors:
• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 10% off everything in the store until Christmas! (https://guyswann.com/coldcard)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 5,000 FREE SATS at (https://guyswann.com/fold)
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
————————————–
“WAR is a racket. It always has been. It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one international in scope. It is the only one in which the profits are reckoned in dollars and the losses in lives.”
― Major General, Smedley Butler
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Shitcoin Insider Chat_009 – Craig Wrong
Bad forgeries, fake signatures, backdated emails, more money than your country, & a lawsuit for everyone! This is the story of Faketoshi, explored through the extensive investigations of Arthur Van Pelt on the Craig Wrong debacle. He will have the biggest footnote in the Bitcoin history books under “people who pretended to be Satoshi.” An achievement to be celebrated!
Follow Arthur Van Pelt on twitter to stay in the Faketoshi loop & explore his many great articles and breakdowns of the entire debacle at the links below.
Guest Links
Arthur on X (Link: https://twitter.com/Arthur_van_Pelt)
Guest Articles
Craig Wright is Not Satoshi (Link: https://tinyurl.com/2s4jbda2)
My Top 5 Craig Wright Forgeries (Link: https://tinyurl.com/dexfh6r6)
Arthur’s Blog (Link: https://tinyurl.com/37rs728b)
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!
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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…
