Read_633 – The Utility of Saving [Pierre Rochard]
“People hold money to hedge against future uncertainty. This is why it is so crucial for a monetary system to optimize for minimizing its own uncertainty. Bitcoin’s purchasing power is an external quantitative risk that can be insured against, not an internal qualitative uncertainty.” – Pierre Rochard
Link to the read:
https://pierre-rochard.medium.com/the-utility-of-saving-c56f7c170fc1
Check out Pierre on Twitter:
twitter.com/bitcoinpierre
Dig deeper into these ideas with an excellent piece from Hans Hoppe we covered ages ago on the podcast:
The Yield From Money Held Reconsidered: https://open.spotify.com/episode/67dqOHWLX9NRmAs4S0G9XQ?si=866f483f885a43e0
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Guy’s Take #57 – Bitcoin Domino Theory
What if, sitting in the middle of a chaotic monetary environment, increasing capital controls, balkanizing political regimes, a failing petrodollar hegemony, collapsing institutional trust, increased sanctions & weaponized infrastructure, & aggressive, widespread inflation… there sat a global, neutral, decentralized, robust, & incorruptible network to store and transfer value? What would it look like if that network was infiltrating the global monetary order, in a sly round about way? Listen to today’s episode to find out.
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Guy’s Take #56 – The Cascading Dominoes – Part 1
I promised, and it’s finally here. It’s time to get a little perspective, with the price at all time lows, exchanges and lending platforms imploding, a massive crypto deleveraging event, the Fed tightening, and the market heading into deep recession… HOW could you be bullish? Because I’m paying attention. It’s time to zoom out, focus our lens past all the noise, take a serious look at the past year in Bitcoin, to get a clearer picture of the cascading dominoes… This will be part 1 of a series. It’s time for a Guy’s Take episode.
A few links below of those things mentioned in the show to check out if you haven’t yet. Plus be sure to go through the episode catalog for the show. There is an extraordinary amount of past work now to go through and I try to make sure that the majority of stays relevant for years.
Fidelity – Bitcoin First Report:
https://open.spotify.com/episode/2bbmhdkHH1vcM31uo5Mimd?si=41c25898fa6c4c63
Check out our amazing sponsors below, they are among my most used products and services in Bitcoin, and have exclusive discounts and offers for the Audionauts:
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Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy)
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Read_632 – Can Governments Stop Bitcoin? [Alex Gladstein]
“Coding, mining, infrastructure, and markets are all independent, happening in competing jurisdictions and geopolitical rivals, often done by anonymous or pseudonymous actors, all with different philosophies and goals, but with one uniting motivation: to keep Bitcoin going.” – Alex Gladstein
Bringing back an article from a year ago from the always fascinating Alex Gladstein. “Can Governments Stop Bitcoin” is a short exploration of the potential attack vectors via government bodies and how Bitcoin protects or negates them through incentives, its global neutrality, & political game theory. A fun piece to revisit with everything that has happened in the past year. Not to be missed before we get psychotically bullish for tomorrow’s episode. Subscribe so you don’t miss it.
Check out the original article below from Quilette:
https://quillette.com/2021/02/21/can-governments-stop-bitcoin/
Mentioned in the episode, check out Jack Mallers on WBD podcast:
Check out our amazing sponsors below, they are among my most used products and services in Bitcoin, and have exclusive discounts and offers for the Audionauts:
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Read_631 – The ECB is Trapped, Here’s Why [Lyn Alden]
“Base money is a liability of the central bank, and it’s used as a reserve asset by commercial banks. Broad money is the liability of commercial banks, and it’s used as a savings asset by the public. Treasuries are liabilities of the federal government, and they’re used as collateral by the central bank and commercial banks.
In other words, liabilities are collateralized by other liabilities, all the way down.” – Lyn Alden
Today we dive into another great piece from Lyn Alden’s newsletter on the macro situation. What happens when you build a monetary system from nothing but liabilities, and then manipulate the price of interest such that the economy goes ever deeper into debt? Unfortunately we are all about to find out. But luckily we have Lyn Alden to break it down for us, with Read_631 on Bitcoin Audible.
Link to the article and other great stuff on Lyn’s investment blog:
https://www.lynalden.com/ecb-trapped/
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Reboot – Everyone’s A Scammer [Michael Goldstein]
With the markets in chaos, with services halting withdraws, & Everyone’s a Scammer” by Michael Goldstein, is one of those works. Another piece that stood the test of time made available by the Nakamoto Institute, not to be missed by any serious Bitcoiner out there.
Don’t forget to check out Goldstein’s amazing work and the enormous collection of quintessential Bitcoin writings over at the Nakamoto Institute:
https://nakamotoinstitute.org
Mentioned in the Guy’s Take, check out Marty’s Bent on the Cascading Interconnected risk in today’s markets:
https://traffic.megaphone.fm/CSN7309346620.mp3?updated=1652737260
For the best products and services to get you started in Bitcoin, our sponsors are literally a handful of those that I use most in this space:
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Read_630 – Cry Harder [Francis Pouliot]
“Bitcoin is a lifeboat on the sinking fiat ship. Lifeboats on a sinking ship don’t need a marketing department.” – Francis P.
As New York puts a ban on Bitcoin mining in the state, as the white house decides it’s going to come up with “Bitcoin mining policy guidance,” it seems like a good time to prepare our response. Cry Harder. Francis Pouliot brings us a fun and short exploration of Brandolini’s law, the problem of arguing with idiots, & why Bitcoin isn’t changing, no matter how much the haters squeal. You are in for a treat.
Link to the original article:
https://medium.com/@francispouliot/cry-harder-31a599a2e343
For the best products and services to get you started in Bitcoin, our sponsors are literally a handful of those that I use most in this space:
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Read_629 – On Impossible Things Before Breakfast [NYDIG]
“The reverse of that process – a so-called “death spiral” – was inevitable. Any time the immeasurably over-levered global fiat monetary system, for whatever reason, experienced one of its periodic external shocks that skyrockets immediate demand for actual US dollar liquidity, UST investors would demand USD liquidity faster than the brittle and fundamentally flawed Terra ecosystem could provide. At some point, one UST would be worth materially less than one USD, further rattling investors and kicking off a classic bank run. Worse, with algorithmic certainty, the UST bank run would be accelerated by a corresponding hyperinflation in LUNA.” – Ross Stevens, Nic Carter, Allen Farrington
“A post-mortem on Terra, a pre-mortem on DeFi, and a glimpse of the madness to come.” Another amazing piece from NYDIG, this one detailing out the inevitable collapse of TerraUSD/LUNA algorithmic stablecoins, and a warning about the fragility and leverage that threatens the same end for the DeFi ecosystem, to follow up with the exciting things being built on top of the Bitcoin and Lightning network stack. Dont miss this one.
Some great previous reads for digging further into the ideas covered in the show:
Shelling Out: The Origins of Money – https://bitcoinaudible.com/reboot-shelling-out-the-origins-of-money-nick-szabo/
Only the Strong Survive – https://open.spotify.com/episode/7u8mzgKk1nQcwpz9EjIiet?si=1b5c0272a08c4f0a
Time Value of Bitcoin – https://bitcoinaudible.com/the-time-value-of-bitcoin/
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Chat_69 – An Energy Revolution with Nathaniel Harmon
This episode is partly a follow up from Read_628 on reviving a promising renewable energy technology. Partly a discussion of the incredible economic subsidy that Bitcoin mining provides to bridge the Innovation Valley of Death for numerous energy resources. And partly a discussion of how Bitcoin so greatly changes the economics of stranded energy, that it could be the final piece in pushing us into the Third Industrial Revolution. You don’t want to miss this conversation with Nathaniel Harmon, on the Bitcoin Energy Revolution.
Follow Nate & Michael on Twitter for more details and to stay up to date:
https://twitter.com/BlockchainHI1
https://twitter.com/MichaelHawaii
Things mentioned in the show to check out if you want to dive deeper into the ideas covered:
Capital in the 21st Century – https://www.amazon.com/Capital-Twenty-First-Century-Thomas-Piketty/dp/0674979850
Jeremy Rifkin’s Third Industrial Revolution – https://www.amazon.com/Third-Industrial-Revolution-Lateral-Transforming/dp/0230341977
For the best products and services to get you started in Bitcoin, our sponsors are literally a handful of those that I use most in this space:
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Read_628 – How Bitcoin Can Unlock the Energy of the Ocean [Level39]
“A typical Bitcoin mining operation will spend considerable amounts of time, energy and money cooling their ASIC miners with air conditioning or liquid immersion cooling, and these costs eat into profitability. However, the main waste product of OTEC is a nearly-infinite and continuous supply of 5ºC cold water. Not only does OTEC produce free cooling, it provides a level of cooling that almost no one else in the mining industry has access to — enough to overclock mining rigs by 30% to 40%, according to Harmon. This allows OTEC to essentially achieve a power usage effectiveness (PUE) level of 1 — representing nearly perfect mining efficiency. It may very well be the most efficient way to mine Bitcoin.” – Level39
We may be on the verge of an energy revolution due to the incentives and characteristics of Bitcoin and proof of work mining. The ability to solidify and transport stranded energy may change everything. Find out more in today’s episode with a read from Level39 and Bitcoin Magazine.
Check out the original plus other great works from Level39 at the link below:
https://bitcoinmagazine.com/business/bitcoin-unlocks-ocean-energy
For the best products and services to get you started in Bitcoin, our sponsors are literally a handful of those that I use most in this space:
• Get Bitcoin rewards on literally everything you buy with the Fold Card (guyswann.com/fold). Get 20% off with discount code BITCOINAUDIBLE.
• Buy Bitcoin automatically and painlessly with SwanBitcoin (swanbitcoin.com/guy)
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Read_627 – Why and How to Get a Bitcoin Job [Stephan Livera]
“Coming off the Bitcoin 2022 conference, you might feel a little down from the high of meeting and spending time with Bitcoiners. I’ve also found that going to these events leaves you with an additional sense of urgency to do something more, or to become more involved somehow. One way to do that is to participate in Bitcoin projects or work in a Bitcoin job.” – Stephan Livera
For as many times as I’ve been asked about how best to get a Bitcoin job, its hard to admit that I have never done an episode on it. But thanks to Stephan Livera, we have a great article on exactly that topic to help those who feel that drive to commit fully to Bitcoin. An excellent article and fun Guy’s Take on getting a Bitcoiner job, and how to see and help solve problems in the space. Plus a NEW CO-HOST joins the show! Dont miss it!
The Why and How of Getting a Bitcoin Job:
https://bitcoinmagazine.com/business/why-and-how-getting-a-bitcoin-job
Bitcoin Jobs by Swan Bitcoin. Looking for a job in Bitcoin? This is where you start:
https://bitcoinerjobs.com/
For the best products and services to get you started in Bitcoin, our sponsors are literally a handful of those that I use most in this space:
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Reboot – Why the Yuppie Elite Dismiss Bitcoin [Croesus]
“When I thought about what is the defining difference between the Bitcoin maximalists and my yuppie elite friends, the surface level distinctions that popped out were political (e.g., libertarianism, Trump support, second-amendment rights, Black Lives Matter). But these stem from a deeper divide: the degree to which a person has trust in the system.” – Croesus
Today we bring back an oldie but a goodie while Rad, the wife & myself are chillin int he hospital recovering from Rad’s journey into the world. Going to have tons of great stuff coming for you guys so don’t forget to subscribe and share this out with everyone you know in the Bitcoin space. Help them to explore Bitcoin from a strong, monetary, economic, and philosophy foundation.
Big thanks to Croesus for this great piece, and link to the original so you can check it out:
https://www.citadel21.com/why-the-yuppie-elite-dismiss-bitcoin
For the best products and services to get you started in Bitcoin, our sponsors are literally a handful of those that I use most in this space:
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• Buy Bitcoin automatically and painlessly with SwanBitcoin (swanbitcoin.com/guy)
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