Read_649 – The Continual Power of Intermittent Mining [Zack Voell]
“Many aspects of the Bitcoin mining industry are poorly understood and often misrepresented. But one practice in this sector stands apart for the misunderstandings and under-appreciation that surround it: intermittent mining.” – Zack Voell
One of the most under appreciated aspects of Bitcoin mining is its ability to be interrupted. As a buyer of last resort for energy that is curtailed or produced when it can’t be consumed, and also able to turn off without losing its purchaser (i.e. the Bitcoin network), Bitcoin mining becomes a tool to arbitrage production times and smooth energy demand across the peaks and troughs around both production and consumption. Zack Voell brings an excellent short article with BitcoinMagazine that breaks down how!
Check out the article plus links to lots of other discussion and related works at the link below:
https://bitcoinmagazine.com/business/intermittent-bitcoin-mining-fixes-energy
Check out our amazing sponsors and the products that Guy uses most in the space:
• 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. (swanbitcoin.com/guy)
• COME HANG OUT! Join us and the Swan Bitcoin team at the Pacific Bitcoin Conference in November! Get your tickets now, 10% off with code BITOCINAUDIBLE (https://www.pacificbitcoin.com/)
• 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 5% off everything in the store! (guyswann.com/coldcard)
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Read_648 – Bitcoin is the Hills [Captain Sidd]
“A study of the hill tribes of Southeast Asia titled “The Art Of Not Being Governed” provided a fresh take. The author, James C. Scott, posits that the hill tribes were not “left behind” by the valley states but instead composed of refugees from the negative consequences of state-making down in the valleys: bondage, tribute, slavery, war epidemics and more. The rough terrain in the hills served as a natural impediment to absorption by the state.” – Captain Sidd
Today’s article brings a unique perspective on history that sheds light on what is happening today. By showing how physical terrain kept the power of the state in check for thousands of years, Captain Sidd expands on the analogy to propose a technology today, that creates that same resistance to state power, in the digital space. Don’t miss today’s episode to bring a light to our shifting world.
Link to the original article below:
https://bitcoinmagazine.com/culture/bitcoin-is-the-hills
And don’t forget to check out James C Scott’s book, “The Art of Not Being Governed.”
Check out our amazing sponsors and the products that Guy uses most in the space:
• 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 5% off everything in the store! (guyswann.com/coldcard)
• 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. (swanbitcoin.com/guy)
COME HANG OUT! Join us and the Swan Bitcoin team at the Pacific Bitcoin Conference in November! Get your tickets now, 10% off with code BITOCINAUDIBLE (https://www.pacificbitcoin.com/)
• 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% OFF with code BITCOINAUDIBLE (guyswann.com/fold)
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Shitcoin Insider #008 – Maximum Maximalism with the Shitcoin Insider
We have got a great episode of Shitcoin Insider today, we bring the Insider himself back to the show today to discuss what Bitcoin maximalism even means, is it a “dying breed?” Is it just a bunch of meanies on Twitter? Or have we found ourselves fighting over a caricature that’s equated to the lowest common denominator of the Twitterverse, while ignoring the actual set of principles behind the Bitcoin-only philosophy and what it truly means?
You don’t want to miss today’s excellent conversation with the Shitcoin Insider.
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)
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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?
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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_647 – Understanding Decentralization in Bitcoin [Arman the Parman]
“The answer that matters depends on the context. The context you need to have is that cryptocurrency, i.e. Bitcoin, was invented/discovered initially to allow a money by the people that cannot be shut down by government. In that context, the most important element to be decentralized is the network of Nodes. — If the nodes are not decentralized, nothing else decentralized matters. — If the nodes are decentralized, then the other things kind of matter, but not as much.” – Arman the Parman
Today we hit a short, but important piece from the Bitcoin Reserve blog that breaks down the context of decentralization, which is what truly matters. There are all types of things we can arbitrarily decentralize, elements of the network, codebase, implementations, etc. But all of these things are secondary to the most critical decentralization, the one that matters, and the one that represents a once-in-a-millenia innovation that will change everything. Without that critical pillar, the decentralization of literally everything else is irrelevant… listen to find out.
Link to the original article to check it out, dig deeper into the topics, or read the many other great pieces at Bitcoin reserve:
https://bitcoinreserve.com/blog/understanding-decentralization-in-bitcoin#
Link to Arman’s piece on why you should run a node:
https://armantheparman.com/why-should-you-run-your-own-bitcoin-node/
Link to the most important history lesson in Bitcoin:
https://www.audible.com/pd/The-Blocksize-War-Audiobook/B096CNVVQC?qid=1661901093&sr=1-1&ref=a_search_c3_lProduct_1_1&pf_rd_p=83218cca-c308-412f-bfcf-90198b687a2f&pf_rd_r=R8K45E4E7Q0D0R8TTHCF
Check out our amazing sponsors and the products that Guy uses most in the space:
• 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. (swanbitcoin.com/guy)
COME HANG OUT! Join us and the Swan Bitcoin team at the Pacific Bitcoin Conference in November! Get your tickets now, 10% off with code BITOCINAUDIBLE (https://www.pacificbitcoin.com/)
• 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% OFF with code BITCOINAUDIBLE (guyswann.com/fold)
• 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 5% off everything in the store! (guyswann.com/coldcard)
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A Look at the Lightning Network [Lyn Alden]
“I think too many people in those early years interpreted “e-cash” to mean quick-and-easy payments for everyday goods using the base layer, when a better way to think of cash today is as a private censorship-resistant final settlement transaction method. Physical cash, after all, is not necessarily the easiest payment type, or a medium of exchange that we need to use for everything, but it’s the most private and the hardest to prevent from occurring.” – Lyn Alden
The full, uninterrupted reading of Lyn Alden’s incredible piece detailing the philosophy of engineering that informed the layered approach, how the lightning network works, what the future of the lightning network may hold, and answering some common criticisms of the Lightning protocol. If you haven’t heard or read this one, it is not to be missed. Enjoy.
Check out the original article plus the incredible library of material authored by Lyn on her blog below: https://www.lynalden.com/lightning-network/#layers
Check out our amazing sponsors and the products that Guy uses most in the space:
• 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. (swanbitcoin.com/guy)
COME HANG OUT! Join us and the Swan Bitcoin team at the Pacific Bitcoin Conference in November! Get your tickets now, 10% off with code BITOCINAUDIBLE (https://www.pacificbitcoin.com/)
• 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% OFF with code BITCOINAUDIBLE (guyswann.com/fold)
• 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 5% off everything in the store! Coinkite.com
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Chat_72 – The UnCommunist Manifesto, The Swann Brothers chatting with Mark Moss and Aleks Svetski
Tearing down the fallacies of the collective, and digging through the principles of liberty and personal responsibility with the one and only Aleks Svetski and co-author Mark Moss. My brother also joins us today to dig into this topic with a really fun chat on the powerful, but ultimately broken ideas of communism, and why Moss and Svetski’s book, The UnCommunist Manifesto, is a short, succinct breakdown of the principles that align us with truth and personal responsibility. You don’t want to miss this really fun conversation.
Check out the awesome book and get your copy below:
https://www.uncommunist.com/optin1642549665295
Follow our guests on Twitter to stay up on what the work & content they produce, and the fire they spit on Twitter:
https://twitter.com/1markmoss
https://twitter.com/SvetskiWrites
https://twitter.com/agoristview
Check out our amazing sponsors and the products that Guy uses most in the space:
• 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. (swanbitcoin.com/guy)
COME HANG OUT! Join us and the Swan Bitcoin team at the Pacific Bitcoin Conference in November! Get your tickets now, 10% off with code BITOCINAUDIBLE (https://www.pacificbitcoin.com/)
• 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% OFF with code BITCOINAUDIBLE (guyswann.com/fold)
• 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 5% off everything in the store! Coinkite.com
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Read_646 – A Look at the Lightning Network – Part 3 [Lyn Alden]
“Back when the iPhone was introduced in 2007, few people thought, “wow this could really disrupt the taxi industry a decade from now.” A few technologies had converged by that the point to where everyday people could have a pocket supercomputer with a big touchscreen and a high-bandwidth mobile internet connection, and this served as a set of building blocks that could exponentially eat into many other industries, including allowing Uber to come along and change how we move across cities. All manner of individual hardware electronic devices became mostly-obsolete as they became applications on a smart phone.
I view the Bitcoin/Lightning stack as being similar. The network is still tiny and has a lot of development work still to do, and nothing is for certain. But to me it looks like a powerful monetary network with a ton of upside potential over the next decade.” – Lyn Alden
We are diving into the third and final part of “A Look at the Lightning Network” by Lyn Alden. This will round out a lot of what the future of lightning may hold, how it is being developed and its process of growth, and answering some of the both valid and the deeply misguided criticisms of the network. Most of which that come from the crypto space, where so many projects’ very reason for existence depends on Lightning Network not working. We get into all of it, in Part 3. If you haven’t yet go back and listen to Part 1 and 2, or you are going to be lost, I warned you. Otherwise, enjoy!
Link to the original article and the Swan Bitcoin blog for tons of other great reading:
https://www.swanbitcoin.com/a-look-at-the-lightning-network/
Check out Tony’s incredible work on Lightning Network privacy, its trade offs, and future potential:
https://open.spotify.com/episode/1zQxG69Ynm6Ic18SPDwg5h?si=5ba220e79e6c4954
Check out our amazing sponsors and the products that Guy uses most in the space:
• 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. (swanbitcoin.com/guy)
COME HANG OUT! Join us and the Swan Bitcoin team at the Pacific Bitcoin Conference in November! Get your tickets now, 10% off with code BITOCINAUDIBLE (https://www.pacificbitcoin.com/)
• 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% OFF with code BITCOINAUDIBLE (guyswann.com/fold)
• 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 5% off everything in the store! Coinkite.com
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Read_645 – A Look at the Lightning Network – Part 2 [Lyn Alden]
“But more broadly, one must ask, “at what point would someone want to permanently exchange their self-custodial scarce money (bitcoin) that has a 1.8% annual supply inflation rate that is exponentially shrinking, for a soft money (fiat currency) that typically has a 7% annual supply inflation rate or higher?”
The answer for many people, is never, as long as the Bitcoin network is still working.” – Lyn Alden
What is up we are digging into Part 2 of Lyn Alden’s amazing piece “A Look at the Lightning Network” – and we have a rather ridiculous Guy’s Take after this to cover the rest of the groundwork laid in Part 1 that I didn’t get to cover, a lengthy tangent about proof of stake and the total meaningful loss of anything considered independence or decentralization of ETH 2.0 before the merge even happened (that I hadn’t actually intended to get into, but you’ll get it anyway), and of course, Lyn’s amazing breakdown of the trade-offs, the philosophical reasons & practical reasons for layered engineering, and how Lightning is fulfilling the promises of P2P electronic cash. All this in today’s episode – get ready
Link to the original article and the Swan Bitcoin blog for tons of other great reading:
https://www.swanbitcoin.com/a-look-at-the-lightning-network/
The audiobook for Check Your Financial Privilege is now available and covers in depth many of the human rights struggles mentioned by Lyn Alden in this piece:
https://www.audible.com/pd/Check-Your-Financial-Privilege-Audiobook/B0B9T6BJC4
And the audio for Allen Farrington’s “Wittgenstein’s Money” on experiencing the monetization of a truly new monetary good:
https://open.spotify.com/episode/1eVvYlfTRG7zGjkZW8klIE?si=db628c9e11b744f1
Check out our amazing sponsors and the products that Guy uses most in the space:
• 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. (swanbitcoin.com/guy)
COME HANG OUT! Join us and the Swan Bitcoin team at the Pacific Bitcoin Conference in November! Get your tickets now, 10% off with code BITOCINAUDIBLE (https://www.pacificbitcoin.com/)
• 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% OFF with code BITCOINAUDIBLE (guyswann.com/fold)
• 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 5% off everything in the store! Coinkite.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
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Read_644 – A Look at the Lightning Network – Part 1 [Lyn Alden]
“Simple “bubbles” don’t survive through several 70%+ drawdowns over a period lasting thirteen years and counting; it looks more like Metcalfe’s law of network adoption at this point. That doesn’t mean it is without risks, but it means it should be studied and understood rather than dismissed, to see what it is about this network that allows it to keep growing through resistance.” – Lyn Alden
After about 20 requests we are finally diving into Lyn Alden’s incredible piece on Bitcoin’s evolution from secure store of value, to global medium of exchange. Lyn takes us through a brief history in the context of Bitcoin’s success and trade offs, to the merit of its scaling philosophy, how the Lightning Network accomplishes that and what it means for Bitcoin’s present and future. We will try to get through this in 3 parts, starting today with Part 1, of “A Look at the Lightning Network.”
Link to the original article and the Swan Bitcoin blog for tons of other great reading:
https://www.swanbitcoin.com/a-look-at-the-lightning-network/
The audiobook for Check Your Financial Privilege is now available and covers in depth many of the human rights struggles mentioned by Lyn Alden in this piece:
https://www.audible.com/pd/Check-Your-Financial-Privilege-Audiobook/B0B9T6BJC4
And the audio for Allen Farrington’s “Wittgenstein’s Money” on experiencing the monetization of a truly new monetary good:
https://open.spotify.com/episode/1eVvYlfTRG7zGjkZW8klIE?si=db628c9e11b744f1
Check out our amazing sponsors and the products that Guy uses most in the space:
• 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. (swanbitcoin.com/guy)
• 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% OFF with code BITCOINAUDIBLE (guyswann.com/fold)
• 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 5% off everything in the store! Coinkite.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
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Read_643 – Bitcoin and the True Meaning of Inflation [Steven Lubka]
“Today, people use inflation to refer to two separate things, and whenever you hear someone saying inflation it’s not always clear which definition they are referring to. One definition is “the prices of consumer goods increasing” and the other is “dilution of the money supply”. So which is it?” – Steven Lubka
Steven brings an excellent piece today from the Swan Bitcoin Blog about the nature of Bitcoin as an inflation hedge. Does that mean Bitcoin will stay perfectly in line with the general price level of all consumer goods? Or does it means it will adjust to the monetary supply and interest rate, and if so, what does either mean for Bitcoin going forward? If you ever heard the criticism that Bitcoin has failed as an inflation hedge, this is a read you don’t want to miss.
Link to the original article plus tons of other great stuff at the SwanBitcoin blog and newsletter:
https://www.swanbitcoin.com/bitcoin-and-the-true-meaning-of-inflation/
Don’t miss the PACIFIC BITCOIN CONFERENCE from the Swan Bitcoin team! We are going to have a blast in LA in November and I hope to see you guys there. Don’t forget to grab 10% OFF with Discount Code BITCOINAUDIBLE at pacificbitcoin.com
Check out our amazing sponsors and the products that Guy uses most in the space:
• 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. (swanbitcoin.com/guy)
• 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% OFF with code BITCOINAUDIBLE (guyswann.com/fold)
• 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 5% off everything in the store! Coinkite.com
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Shitcoin Insider #007 – How Many Degrees Celsius is a Lunatic? with Cory Klippsten
WE ARE BACK! Were you wondering about everything that happened in the collapse of TerraUSD, the algorithmic stablecoin that got algonniahilated? And how exactly did one project’s failure create such a cascading shitstorm of Defi defaulting?
Cory Klippsten, CEO of SwanBitcoin, and outspoken critic who warned everyone of these projects long before they collapsed, breaks down what he saw in these [rojects and companies that brought them to their inevitable conclusion. Follow Cory here. (Link: https://x.com/coryklippsten/)
Dont miss the return of Shitcoin Insider!
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)
Guy’s Take #58 – “Rent-Seeking Savers!” Misconceptions in Noahpinion’s Crypto Misconceptions
“I think there are some important economic errors in the stories I see people telling about crypto, on Twitter and elsewhere — errors that have important implications for how we should think about the value of Bitcoin and other blockchain assets.” – Noahpinion
Unfortunately I think there are quite the few economic errors in Noahpinion’s article titled, “Economic misconceptions of the crypto world.” While he may actually have some fundamental points to add around much of the “crypto” space and their failure to understand what creates value, I think it shows Noahpinion’s own misconceptions when he incorrectly applies some of the common crypto fallacies to Bitcoin, without understanding the deeper arguments, behind the more popular, & simplistic taglines that make their way across the social landscape.
So in the most Guy Rant filled episode I’ve done in ages, we dive into the Misconceptions in Noahpinion’s Crypto Misconceptions. Why savers aren’t rent seekers, but money printers are rent seekers of the worst magnitude.
Pieces mentioned in the article for further reading or listening:
The Yield From Money Held, Reconsidered:
https://bitcoinaudible.com/the-yield-from-money-held-reconsidered/
The 7th Property (Eric Yakes):
https://www.amazon.com/7th-Property-Bitcoin-Monetary-Revolution/dp/0578902621
First Impressions of Web3:
https://open.spotify.com/episode/7D4UD3n3H2mflqkVNnVczj?si=10ccd7de3c7a4e85
Check out our amazing sponsors and the products that Guy uses most in the space:
• 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 5% off everything in the store! Coinkite.com
• 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. (swanbitcoin.com/guy)
• 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% OFF with code BITCOINAUDIBLE (guyswann.com/fold)
Learn more about your ad choices. Visit megaphone.fm/adchoices
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