Read_655 – The Legendary Treasure of Satoshi Nakamoto [Tomer Strolight]
“Everyone loves a good origin story. Some are true, some made-up, and some a mix of the two.
The true origin story of Bitcoin’s appearance in the world is one of the most fascinating mysteries ever told. Yet these events all took place in the 21st century, a time when everything is recorded, and can be recalled, investigated — and verified.” – Tomer Strolight
Bitcoin isn’t merely a tool, but something so unique and fundamental, that it challenges widely held beliefs of the world & inspires questions that have even sparked deep personal journeys. But how could a simple computer network have such an impact on the individual? How could someone think of Bitcoin, as inspiring a spiritual awakening? Tomer bring us an exploration of how Bitcoin changes who we are and forces us to look inward for new answers to questions that so many thought answered.
The Legendary Treasure of Satoshi Nakamoto – Drop some applause on the original article
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Guy’s Take_059 – We’re Not Going Anywhere
“Bitcoin is not merely a network, it’s a foundation for an anti-authoritarian political movement in an increasingly authoritarian world. If you’re looking for why so many people are deeply passionate about Bitcoin & nothing else, start there.” – Guy Swann
Today I decide to rant about what Bitcoin maximalism means to me, why I am totally and completely focused on Bitcoin and nothing else, and why I think “crypto” has lost the plot. Crypto is interested in building a bunch of toys to be accepted by the establishment, Bitcoin is a declaration of independence from it.
The other episodes mentioned for diving deeper into this topic:
• My Path to Bitcoin Maximalism (by Sessions)
• How to Be a Bitcoin Maximalist (Pete Rizzo)
• Setting the Record Straight (Nic Carter)
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Read_654 – A Bitcoiner’s Guide to Proof of Stake [Scott Sullivan]
“This brings us to our fourth principle behind PoS, which is that **PoS relies on subjective truth**. There is simply no objective way to pick between two competing blockchains, and any new nodes to the network must ultimately trust some existing source of truth to resolve any ambiguity. This contrasts significantly with Bitcoin, where the “true” chain is always the one with the most work. It doesn’t matter if a thousand nodes are telling you chain X, if a single node broadcasts chain Y and it contains more work, then Y is the correct blockchain. A block’s header can prove its own worth, completely removing the need for trust.” – Scott Sullivan
With “The Merge” on everyone’s mind, going through the specific mechanisms that make Proof of Stake “work” can be a very useful exercise. Especially when considering how things can go wrong, and where there is ultimately subjectivity in the consensus mechanism that sheds light on how certain disputes would fall in the politically tumultuous world we live in today. It isn’t just that PoS is different than PoW, it’s that many of their core principles are polar opposites of each other, and therefore they cannot accomplish the same goal. This piece by first time author on the show, Scott Sullivan, is an excellent breakdown of the inner workings of the ETH Proof-of-stake design, and will provide a solid foundation for the discussion of why I am Bitocin only in tomorrow’s Guy’s Take. Don’t miss it
Check out the original on Scott’s Substack at the link below:
https://scottmsul.substack.com/p/a-bitcoiners-guide-to-proof-of-stake
Other articles linked to for digging deeper into this topic:
Ethereum is a Dark Forest: https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest
Proof of Stake and Weak Subjectivity: https://blog.ethereum.org/2014/11/25/proof-stake-learned-love-weak-subjectivity
The Case for Social Slashing: https://ercwl.medium.com/the-case-for-social-slashing-59277ff4d9c7
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Read_653 – Finding Signal in a Noisy World [Jeff Booth]
“That misinformation in the form of money wouldn’t just create polarization. Because money connects value between people and nations, it would drive a tremendous misallocation of capital and resources as individual actors in the system all made the system worse with their actions to make enough money to escape the system.” – Jeff Booth
Today we take another brief pause from the Maximalism discussion to hit an awesome “back to the fundamentals” piece from Jeff Booth that dropped just last week. How on earth do you find the signal in a world just consumed with noise? And not only that, why has everything gotten so noisy? What has led to the polarization, distrust, group bias, & breakdown of institutions in our modern world, and is there any way to fix it? Booth does an excellent job in today’s piece in making sense of our current world, with a little hope for our Bitcoin future. Don’t miss it.
Check out the original article to drop applause or explore many of the additional links to dive deeper into the content:
https://medium.com/@JeffBooth/finding-signal-in-a-noisy-world-57497df06a35
Links to the other piece recommended by Jeff Booth at the bottom of his article above:
• Bitcoin Energy Use is not a Problem, Here’s Why
https://open.spotify.com/episode/6dX8j22Mdg2Q7UgoNXMY6P?si=6dbc94969b1a4a2d
• Bitcoin is Time
https://open.spotify.com/episode/1BJ06LXnOHZxAgUrzC3hLd?si=d578e6544cf14ff9
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Read_652 – Setting the Record Straight [Nic Carter]
“I’m going to clear things up here because most of the people piling on were deeply confused about me, my firm, and what I do. And yes, I’m including some choice words for the self-described Bitcoin maximalists. You asked for it. You got it.” – Nic Carter
Nic takes to his medium page to denounce Bitcoin maximalism after getting bombarded over an investment by his VC fund. Was there a grain of truth to the criticism, is Bitcoin maximalism to blame, and what’s the difference between the Bitcoin maximalist ideal, and self proclaimed Bitcoin maximalists? For a fair shake on the topic after covering Rizzo’s recent article, let’s hear Nic’s take on maximalism.
https://medium.com/@nic__carter/setting-the-record-straight-b4e1b415e7d9
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Read_651 – The Path to a Bitcoin Standard in Africa [Charlene Fadirepo]
“I believe Africa represents the most elegant use case for a Bitcoin standard in existence. In the paragraphs that follow I will explain why.” – Charlene Fadirepo
Africa is a hugely under-appreciated, yet massive part of the Bitcoin universe that is growing into its own, due to multiple factors, the case for a Bitcoin standard in Africa holds incredible potential. With a young vibrant demographic, political variety, entrepreneurial spirit, & a constant state of monetary pain, there are few places on earth that can benefit as greatly as Africa. Charlene Fadirepo, co-author of “Bitcoin and the American Dream” brings us a great little piece on Bitcoin Magazine about the promise of Bitcoin in Africa.
Check out the original article below, as well as Charlene’s video podcast covering what is happening in the Bitcoin world throughout Africa with the Bitcoin in Nigeria Podcast:
https://bitcoinmagazine.com/business/path-to-a-bitcoin-standard-in-africa?utm_source=Bitcoin+Magazine&utm_campaign=52d1eb101d-&utm_medium=email&utm_term=0_f7d45fbb67-52d1eb101d-356243111&mc_cid=52d1eb101d
Bitcoin in Nigeria – Expanding the Narrative: https://open.spotify.com/show/3mTQg1bdR6q9gYIlSG9Y96?si=4f9738aec6fa491c
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• 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/)
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Read_650 – How to Be a Bitcoin Maximalist [Pete Rizzo]
“Cryptocurrency market-isms are built on claims about the economic and computer science advances Bitcoin and cryptocurrencies have achieved, and thus have a direct relationship to those claims.
While some are the product entirely of fandom, others are more complex, attempting to both define a scientific position, and then encourage beliefs and conduct based on those claims.” – Pete Rizzo
Today we start a dive into Bitcoin Maximalism that we will expand on during this week. What is maximalism, is it just a group of arrogant, stubborn bullies on Twitter, or is it a set of principles around the defense and expansion of the Bitcoin only ecosystem? And how do we separate the ideology, from its self proclaimed proponents when they differ in practice? Rizzo covers this and more in a Forbes article on “How to Be a Bitcoin Maximalist.” Don’t miss it!
Check out the original article at the link below, plus follow Rizzo on Twitter for tons of other great work:
https://www.forbes.com/sites/peterizzo/2022/08/25/how-to-be-a-bitcoin-maximalist/?sh=3eaab2007036
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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:
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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/)
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Shitcoin Insider Chat_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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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:
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• 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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