Read_608 – Want to Stick it to the Elites? Use Bitcoin [Avik Roy]
“Aspiring Republican politicians and conservative opinionators love talking in darkened tones about the malevolence of elites. And yet, for all the fingers wagged and pixels rendered, conservatives have largely ignored the most economically significant way in which elites actually _have_ rigged the game in their favor. The widening gap between elites and the rest of us comes down in large part to the highly abnormal way in which the United States has defined money for the last 50 years.” – Avik Roy
Avik breaks down in this article from The American Mind, the poisonous nature of our monetary system, where it all started, how it unfairly benefits the already wealthy at our expense, & how Bitcoin truly fixes this. Plus a lengthy Guy’s take that gets heated because economics is just too exciting not to get amped up about it.
Check out the link below for more work by Avik Roy and The American Mind:
https://americanmind.org/features/free-bitcoin/want-to-stick-it-to-coastal-elites-use-bitcoin/
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Read_607 – Implications of Outlawing Bitcoin [Dergigi]
“If having 12 words in your head is illegal, something is terribly wrong with the law. If the police storm your building because you are finding or creating a random number in the privacy of your own home, something is terribly wrong with the police. If the peaceful exchange of messages is seen as dangerous or immoral by society, something is terribly wrong with society. If speaking or knowing numbers becomes a criminal act, I don’t want to be a law-abiding citizen in the first place.” – Dergigi
What exactly does it mean to outlaw Bitcoin? To ban proof of work mining? And what does it say about our society that such a discussion is even on the table? Is it a problem with how the people may use these tools, or what it enables of criminals or the less savory of society?… Or is it more indicative of a cancer in society itself?
DerGigi always killing it with another great article:
https://dergigi.com/2021/08/02/implications-of-outlawing-bitcoin/
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Read_606 – Lightning is a Liquidity Network [Roy Sheinfeld]
“Only liquid, flowing capital generates a return. Unlike a bank account, capital on Lightning is productive when it is mobile, not at rest. That’s why flow is so essential. The more capital flows, the more liquid it is, the more incremental returns it generates.” – Roy Sheinfeld
Roy Sheinfeld of Breez Technology does some of the best conceptualizing of the Lightning network, its direction, & its challenges. He brings us another article today attempting to reconceptualize Lightning around the process of its operation (liquidity) rather than the purpose the process fulfills (payments network). The Guy’s Take to follow discussing ideas of Lightning UI and the new tools being brought to the liquidity table.
Don’t forget to check out the article, drop some applause on medium, and follow Roy at the link below:
https://medium.com/breez-technology/lightning-is-a-liquidity-network-550896ca27ea
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Read_605 – Bitcoin Behind the Veil [Craig Warmke]
“People tend to favor proposals that would benefit themselves and reject proposals that, at their own expense, would benefit others. If you were wealthy, you’d probably reject calls for higher taxes and more welfare programs. If you were poor, you’d probably call for higher taxes and more welfare programs. I don’t just mean that the currently wealthy tend to endorse proposals thought to benefit the wealthy and that the currently poor tend to endorse proposals thought to benefit the poor. I mean something stronger — even the actual, presently poor would likely endorse proposals thought to benefit the wealthy if they had been wealthy. And even the wealthy would likely endorse proposals thought to benefit the poor if they had been poor. ” – Craig Warmke
How does one remove their biases and personal benefits or consequences from weighing the value of world with, or a world without Bitcoin? That’s what Craig attempts to do in today’s article, another excellent addition to The Bitcoin Times, Ed 4. Check out the original at the link below along with the numerous other great pieces that accompany it:
https://sites.google.com/getamber.io/thebitcointimes/ED_4
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Read_604 – I Was Wrong, We Need Crypto [David Hansson]
“Now what’s that saying again. Just because you’re paranoid doesn’t mean they aren’t after you. It’s starting to smell like that. Just because Bitcoin’s most virtuous argument was presented – in if not bad-faith then in fig-leaf-faith – by get-rich-quick boosters, doesn’t mean it isn’t true!
Enter the trucker protests in Canada. In just three weeks of honking, blocked streets and bridges, bouncy castles and flag waving, this peaceful protest movement managed to provoke the most shockingly authoritarian response from the Canadian government.” – David Heinemeier Hansson
The events of today are making it increasingly difficult to ignore the value of Bitcoin & censorship resistant money. While it was easy to dismiss in a world where western democracies appeared to be representative of their population, & while western culture seemed to protect individual rights, as we watch them so quickly and systematically dismantled, the need for Bitcoin cannot be ignored. Listen to a long time Bitcoin/Crypto skeptic begin to see why it may not be so foolish after all.
Check out the article for more digging below, and feel free to follow and help David on his Bitcoin journey:
https://world.hey.com/dhh/i-was-wrong-we-need-crypto-587ccb03
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Read_603 – If Russia Invites Bitcoin Adoption, The Global Arms Race Begins [Mike Hobart]
“The U.S. and its allies are now effectively backed into a series of corners. Can the U.S. attempt to ban Bitcoin and its transactions? It can try, but will fail. China has already tried to do so, multiple times, and the same goes for India. Not to mention, the U.S. now has a multitude of politicians advocating for Bitcoin adoption, like U.S. Senator Cynthia Lummis and state governors showing political support for the asset and network.” – Mike Hobart
Bitcoin has suddenly and aggressively entered the global political stage in recent weeks, and there will be no going back at this point. It is time for Bitcoiners to kick into high gear on what tools we use, how we onboard new users, and our education for those at the greatest risk in our increasingly volatile political environments. How do the benefits of Bitcoin mining, and its potential to bolster the energy grid & production, its benefit in international trade and routing around sanctions, mix with its undermining of monetary policy and likelihood of causing outflows from an increasingly fragile banking system? And what will Russia’s response be in the coming years? Mike breaks down the mining and energy side of the equation, and we discuss Josef Tetek’s article as well on the opposing issues.
There is so much to unpack in these events, and this will be covered again in the near future. Stay tuned, stay subscribed, and dont miss the next few weeks of Bitcoin Audible. Its getting crazy out there ladies & gents, buckle your seatbelts.
Check out the article and Mike’s other works and follow him on Twitter at the link below:
https://bitcoinmagazine.com/markets/russia-embracing-bitcoin-challenges-world
Also check out the other side of the coin, with Josef Tetek’s piece on the regulatory controls Russia is pushing for:
https://bitcoinmagazine.com/business/bitcoin-and-russia-regulations
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Read_602 – Bitcoin’s Peaceful Revolution, A New Hope for Humanity [Peter St Onge]
“By taking away their printing presses, Bitcoin stops the creeping totalitarianism that weaponizes our own blood, sweat and tears against us. It stops governments’ escalating ability to control all person-to-person exchange, their efforts to build a financial panopticon of Big Brother control. And, finally, by getting governments out of the business of manipulating money, Bitcoin brings us a world without permanent crisis, without the boom- bust business cycles, without the inflation that ravages the people who those governments pretend to serve and love.” – Peter St. Onge
Diving back into the incredible publication of The Bitcoin Times Ed 4. Bitcoin isn’t just a technology, its a revolution. What specific incentives will fuel this revolution, what futures are possible, how destructive will the transition be, & how long will it take for us to “wake up” with this tool in our hands? It will shape the course of history, but it requires us to support it, to build for it, and to cultivate the future we want. Another incredible piece!
Check out the rest of The Bitcoin Times and get a head start at the link below:
https://sites.google.com/getamber.io/thebitcointimes/ED_4
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Read_601 – Bitcoin First [Fidelity]
“Bitcoin as a superior monetary good is more valuable than a better payment network . This leads us to another point as to why we believe bitcoin should be considered primarily as a monetary good rather than a payment network. The fact the market has shown a preference towards bitcoin, which is slower as a payment system compared to other digital assets and blockchains, signals the market currently values a highly secure and decentralized store of value rather than another payment network. As we previously noted, Bitcoin’s revolutionary invention was solving the problem of digital scarcity and creating a digital store of value, not making an incremental improvement to a payment system.” – Fidelity Assets Report
You don’t want to miss this incredible report on how to think about the innovation and investment thesis of Bitcoin. Why it should be separated from the rest of the digital asset ecosystem, and why for the market need it fulfills, there is little to no competition among the “crypto” industry.
Check out the full report and other incredible work from Fidelity at the following link:
https://www.fidelitydigitalassets.com/articles/bitcoin-first
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Read_600 – The Separation of Money and State [Allen Farrington]
“That is not to say that Bitcoin will lead us to a pacifist utopia in which any attempt at violence suffers metaphysical intervention by the spirit of Satoshi. That money can grant power is clear enough as there will always be a clearing price for violent thuggery. But what will distinguish a Bitcoin standard is that power will not grant money.” – Allen Farrington
Today we dig into another great piece from The Bitcoin Times Ed 4. What are the characteristics of Bitcoin, that truly make the separation of Money and State a true possibility for our future? How does Bitcoin change the fundamental relationship between money and power? Don’t miss this one!
Check out the rest of The Bitcoin Times and get a head start at the link below:
https://sites.google.com/getamber.io/thebitcointimes/ED_4
Another great article from Allen, The Capital Strip Mine
https://bitcoinaudible.com/the-capital-strip-mine/
And some required reading for everyone in Bitcoin, Shelling Out: The Origins of Money
https://bitcoinaudible.com/reboot-shelling-out-the-origins-of-money-nick-szabo/
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Chat #67 – Pioneer Species with Brandon Quittem
Today we have an incredible chat as a followup to the recent piece Read_596 – Bitcoin is a Pioneer Species. We have author Brandon Quittem joining us today to dive deeper into the concept he lays out in the article, further into the consequences of what it means for energy production, and ultimately, where our species is likely to spread out and inhabit on the planet with such a powerful new set of incentives.
You can either read or listen to the article at the links below, and don’t forget to check out Brandon Quittem’s other amazing work at his medium page:
Article – https://medium.com/the-bitcoin-times/bitcoin-is-a-pioneer-species-38f42ecdbb88
Audio – https://open.spotify.com/episode/0n4BDOodSPaIB5HpksnJOT?si=724d2b546cdc4afa
Medium Page – https://medium.com/@BrandonQuittem
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Read_599 – Why Every Fixed Income Investor Should Consider Bitcoin – Part 3 & 4 [Greg Foss]
“And finally, given its asymmetric return distribution I believe It is more risky to have zero exposure to bitcoin than it is to have a 5% portfolio weight. If you are not long bitcoin, you are irresponsibly short. Don’t overthink this. Lower your time preference. Bitcoin is the purest form of monetary energy and is portfolio insurance for all fixed-income investors.” – Greg Foss
Concluding today with some insane bullishness on price evaluations & a model for Bitcoin attempting to account for its value as a hedge against the Fiat Ponzi. Detailing out their concept of the Fulcrum Index, and why Bitcoin as a CDS against sovereign credit risk may alone be a multi-trillion dollar value proposition. Hear the rest of Greg Foss’s incredible report in today’s episode.
Check out the full report at the link below:
https://rockstarinnercircle.com/wp-content/uploads/2021/04/Why-Every-Fixed-Income-Investor-Needs-To-Consider-Bitcoin-As-Portfolio-Insurance.pdf
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_598 – Why Every Fixed Income Investor Should Consider Bitcoin – Part 1 & 2 [Greg Foss]
“General Motors, Ford, AT&T and GE have cumulative debt that is larger than the entire HY market. Downgrades of any one of these names likely imply a downgrade of the others. The forced selling would rock the HY market, which would start a domino effect and a negative feedback loop that would reach to all credit and equity markets globally. Pretty scary stuff. Follow inefficient investment guidelines, win stupid prizes.” – Greg Foss
Today we hit Parts 1 & 2 of Greg Foss’s incredible 4 part report on the case for Bitcoin from the fixed income investment perspective. Laying out his history in the markets, how he has seen and evaluated the risks and market contagions of years past, & digging into the nerdy framework to understanding the credit markets, and most importantly, how to price risk. This is a must listen, and Parts 3 & 4 dropping tomorrow are going to make you more bullish than you know.
Get ready.
Check out the full report at the link below:
https://rockstarinnercircle.com/wp-content/uploads/2021/04/Why-Every-Fixed-Income-Investor-Needs-To-Consider-Bitcoin-As-Portfolio-Insurance.pdf
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 (20% discount code BITCOINAUDIBLE)
• Buy Bitcoin automatically and painlessly with SwanBitcoin
• Keep your Bitcoin keys safe on the secure, open source BitBox02 (5% discount code GUY)
• Get tickets to the biggest & most exciting Bitcoin conference in the world! Bitcoin 2022 (10% discount code GUYSWANN)
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