Read_476 – The Legend of Prometheus [Aleks Svetski]
“we should all take a moment to be deeply grateful for the introduction of an ark upon which we can board, and from which we can later rebuild.” – Aleks Svetski
The Bitcoin Times vol 3 has LANDED! We are getting into it with 7 incredible pieces, starting today with the froward from Aleks Svetski, “Bitcoin & the Legend of Prometheus.” You aren’t going to want to miss this week as we dive into tons of other great works by Parker Lewis, Jeff Booth, Giacomo Zucco, Erik Cason, & Jimmy Song.
Check out the original by Aleks Svetski at the link below to drop some applause:
https://medium.com/the-bitcoin-times/bitcoin-the-legend-of-prometheus-13170ca65ce0
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Chat #54 – WTF is Bitcoin Anyway? With Jim & Hari
Today we have a crazy fun show after getting to hang with Jim & Hari (and James)from the What Do We Know podcast! A couple of guys who just wanted to know WTF a Bitcoin was, and we get into all of it in a 2 hour marathon. This is part 1, with part 2 on the way.
Check out the What do We Know podcast with Jim & Hari and their other crazy topics they dig into by visiting the link below:
guyswann.com/wdwk
Check them out on Instagram at @podcastwdwk
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Happy HODL Day!
“GF’s out at a lesbian bar, BTC crashing WHY AM I HOLDING? I’LL TELL YOU WHY…” – GameKyuubi
The origins of the greatest meme in Bitcoin history.
For all the rest of the Bitcoin holidays, check out the calendar over at thecryptoconomy.com:
https://thecryptoconomy.com/calendar/
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Read_475 – The Sovereign Company Thesis [Christian Keroles]
“Today, bitcoin is still an alternative treasury asset, but as larger and more powerful organizations begin to use Bitcoin directly, they will begin to tear away from the overreach of governments. This in and of itself will challenge the dynamics of governance and the nature of nation states as we currently know them.” – Ck_snarks
We all know that Bitcoin creates sovereignty and protects the individual’s right to own and use money without the permission of government. But everything it provides to the individual, it can provide to a company as well. With the BitMEX example giving us a taste of what could be, Christian Keroles takes us through a great, quick read on the sovereignty of business enterprise in a Bitcoin world, and how it fundamentally changes the dynamics of governance, and removes the power to shut down the capital of the world.
Check out the full article plus the tons of other great works at Bitcoin Magazine:
https://bitcoinmagazine.com/articles/the-sovereign-company-thesis
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Read_474 – The Fraying of the Petrodollar System – Part 2 [Lyn Alden]
“As a decentralized and open source project, adopted by many programmers and proponents around the world, many intelligent people have dedicated their careers to Bitcoin. It’s hard to find a more voracious group of people than those in the Bitcoin community, and increasingly over time, Wall Street money has poured in as well.” – Lyn Alden
Today we conclude the awesome piece from Lyn Alden breaking down the petrodollar system and get some time to explore just how entering Bitcoin into the field could change the path going forward. Does it become a niche asset that serves a small market for specific use cases, or does it become something much bigger? Listen to find out, we have got a marathon of one today, and you don’t want to miss it.
Don’t forget to explore the absolute treasure trove of graphs and data to accompany this piece, and obviously the other amazing work from Lyn Alden as well:
https://www.lynalden.com/fraying-petrodollar-system/#next
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Read_473 – The Fraying of the Petrodollar System – Part 1 [Lyn Alden]
“Taking my view a step further, evidence shows that the global monetary system as currently structured is gradually re-aligning itself, and this fact will have important ramifications for investments over the long run.” – Lyn Alden
We start today into another amazing piece from Lyn Alden that digs into the history, the cycles, the problems, the half solutions, and the long term consequences of our dollar based global monetary system. What led to its creation, how does it move in the macro environment, and are crack beginning to show that may have the world re-align to an entirely new system? Don’t miss the first part of this amazing piece, “The Fraying of the Petrodollar System.”
Find the plethora of charts and data to go along with it at the link below, plus the other amazing work from Lyn:
https://www.lynalden.com/fraying-petrodollar-system/#fraying
A huge Thank You to the Bitcoin Audible Sponsors:
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Guy’s Take #38 – An Unstoppable Force
“It’s not that a government has the ability to ban Bitcoin from their country, I think it’s closer to the opposite: A country only has the ability to ban itself from Bitcoin.” – Guy Swann
Today we’ve got my speech from BitBlockBoom to close out the week. One I’ve been meaning to share for some time, and I think you guys will really enjoy it. If you prefer the video version, you can check it out at the link below.
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Read_472 – The Fiat Standard – Chapter 1 [Saifedean Ammous]
“For the reader who has become familiar with the operation of bitcoin, a good way to understand the operation of fiat is by drawing analogy to the operation of bitcoin using concepts like mining, nodes, balances, and proof of work. My aim is to explain the operation and engineering structure of the fiat monetary system and how it operates, in reality, away from the naive romanticism of governments and banks who have benefited from this system for a century.” – Saifedean Ammous
Today we dig into Chapter 1 of the sequel to the seminal work in the Bitcoin ecosystem, The Fiat Standard. The book is being published on Saifedean.com chapter by chapter before its final release, and you can subscribe to get his courses and the other chapters as they release. But today we dig into the first chapter, the ideas, and a new mindset for examining the failures and successes of fiat money. This is not to be missed.
The Fiat Standard – Chapter 1:
https://saifedean.com/the-fiat-standard-chapter-1/
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Read_471 – The Speculative Attack [Pierre Rochard]
“My own prediction is that slow bleed has been accelerating and is only the first step. The second step will be speculative attacks that use bitcoins as a platform. The third and final step will be hyper-bitcoinization.” – Pierre Rochard
We are entering a new phase of the Bitcoin game theory. What really happens when the hardest money in the world, encounters hundreds of weak, fiat currencies? What unfolds is a series of feedback loops that drive the bad money out of circulation, and leads to eventual “speculative attacks” on the weaker currencies particularly in conditions with high capital controls, falling reserves, and manipulated interest rates. All conditions that the modern world finds every way they look. Don’t miss this amazing blast from the past by Pierre Rochard, predicting the very environment of 2020, back in 2014.
From the ever amazing Nakamoto Institute, Pierre’s “Speculative Attack”:
https://nakamotoinstitute.org/mempool/speculative-attack/
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Read_470 – Why Does Bitcoin Have Value? [Jeffrey Tucker]
“What Bitcoin is depends on its use as a means of storing and porting value, which in turn rests on secure titles to ownership of a scarce good.” – Jeffrey Tucker
It can be incredibly difficult to make sense of, and imagine the immense amount of value provided by the Bitcoin system. And so often we conflate the token itself, with the assurances it provides. Clearly they cannot be detached from one another, but what else is there that could explain how, after 10 months at a price of zero, Bitcoin finally achieved a positive valuation? What led to this moment, and does this break Mises’s Regression Theorem, or does it actually meet the criteria laid out by the brilliant economist, almost a century later?
Find out in today’s awesome read from author and editorial Director of Aier.org, Jeffrey Tucker:
https://www.aier.org/article/why-does-bitcoin-have-value/
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Read_469 – The Untold Story of the First Bitcoin War [Wirdum & Rizzo]
“With his choice of words, Taaki had outed an elephant in the room. It was true, Nakamoto had enacted soft forks, but by late 2011, the network no longer operated as it did in those early days.” – Aaron & Pete
Before the great block size wars of 2017, there was the first war of the Bitcoin protocol, that established the ideological divide, and ask the question that would infamy get its answer on Bitcoin’s Independence Day in 2017. Another excellent Bitcoin Magazine piece from authors, Pete Rizzo & Aaron Van Wirdum: “The Untold Story of the First Bitcoin War”
Check out the Original article for tons of referenced conversations and sources, plus the other excellent stuff by both articles and Bitcoin Magazine:
https://bitcoinmagazine.com/articles/the-battle-for-p2sh-the-untold-story-of-the-first-bitcoin-war
A huge thank you to the Bitcoin Audible Sponsors:
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And lastly a huge thank you to BTCMedia and the LTBNetwork for the amazing resource they’ve been to the Bitcoin space!
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Read_468 – Bitcoin is Hope [Robert Breedlove]
“Bitcoin is a battle ground to restore freedom, truth, and virtue in the world.” – Robert Breedlove
Another excellent piece from Breedlove, this time on the SwanBitcoin blog. The very purpose of money and civilization is to abate the entropy and chaos of the natural world. It is to protect ourselves from an uncertain future. Central banks are institutions that confiscate that production and safety for themselves and the political apparatus, and pour entropy into our lives and economic realities.
Bitcoin will realign the incentives, it will protect the people and entrepreneurs from the evils of inflation, and it will finally right the ship. Today’s read by Robert Breedlove, “Bitcoin is Hope.”
Check out the tons of additional links and ways to follow Breedlove and support his work by going to the link, as well as some great quotes and artwork that accompany this piece:
https://www.swanbitcoin.com/bitcoin-is-hope
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