Read_261 – The God Protocols [Nick Szabo]
“Imagine the ideal protocol. It would have the most trustworthy third party imaginable — a deity who is on everybody’s side. All the parties would send their input to this god. God would reliably determine the results and return the output. In addition, God, being the ultimate in confessional discretion, would ensure that no party would learn anything more about the other party’s input than they could learn from their own input and the output.” – Nick Szabo
Another great piece by Szabo about the implications of a multi-party virtual computer and the incredible possibilities that such a protocol could open up. With amazing foresight, Szabo wrote this piece in 1997, detailing many of the trade-offs and complications in creating a shared system just like Satoshi’s. Is Bitcoin The God Protocol he hoped to see?
Don’t forget to check out the collection at the Nakamoto Institute & Szabo’s Unenumerated blog:
https://nakamotoinstitute.org/the-god-protocols/
https://unenumerated.blogspot.com/2007/08/mutually-private-computation.html
Be sure to follow @nickszabo4 and the @NakamotoInst on twitter!
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Guy’s Take_019 – Libra Doesn’t Compete with Bitcoin, But it Might Kill Ripple
All the buzz is about FacebookCoin, I mean FacePalmCoin, I mean Libra today with the release of the testnet and Libra.org giving much sought after details on the new protocol and what they seek to accomplish with it. The big question, can it do any of what it says, and what other projects does it compete with really? We read numerous twitter posts, including a great thread by Caitlin Long, tweets from Andreas, details sourced by Jameson Lopp, and more in today’s Guy’s Take episode.
More Links to check out for further exploration:
libra.org
https://medium.com/@lopp/thoughts-on-libra-blockchain-49b8f6c26372
https://www.forbes.com/sites/caitlinlong/2019/06/09/what-facebooks-cryptocurrency-means-6-predictions/#1ac25ac57022
Twitter threads and posts mentioned in the show:
https://twitter.com/aantonop/status/1140939860997562368
https://twitter.com/CaitlinLong_/status/1140963988546547713
https://twitter.com/lopp/status/1140936932203126784
https://twitter.com/aantonop/status/1140937902081417216
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Read_260 – Why America Can’t Regulate Bitcoin [beautyon_]
This one should not be skipped!
There is a fascinating precedent set by case law and the long battles over PGP and US “munitions” laws, that gives us a rather clear conclusion on how Bitcoin should be treated by the US government. The short version? Bitcoin is speech, plain and simple, and should be subject to a total of *0* federal or state laws on money transmission, KYC/AML, financial regulations, etc. This is not an opinion, but an objective and clear truth. Listen to a thorough argument from @beautyon_ explaining exactly why.
Don’t forget to drop some applause on the original article over at the HackerNoon Medium page:
https://hackernoon.com/why-america-cant-regulate-bitcoin-8c77cee8d794
Below is another excellent article by @beautyon_ we covered recently about Bitcoin, and the nature of system critical software:
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_254—Bitcoin–Software-Reliability-e46lnu
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Chat_012 – Talking Privacy, Bitcoin & the New Economy with the Raleigh Bitcoin Meetup
At the recent Raleigh Bitcoin meetup we had an awesome discussion all about privacy and bitcoin, and the intertwined destinies of both. Hanging out with some drinks and talking all about Bitcoin, what could be better? Thanks to all the crew who helped out and participated!
Be sure to check out:
https://cryptoconomy.life/
The BitANN.io project
Paywall.link
https://www.meetup.com/The-Raleigh-Bitcoin-Meetup
https://www.meetup.com/Triangle-Bitcoin-Meetup
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Guy’s Take_018 – A Story About Booms & Busts
Today I wanted to cover an analogy I have hit in the past to explain what’s happening in the boom/bust cycle. One that sheds light on the fact that the imbalance is a fundamental element of the fractional reserve system, rather than an unexplainable flaw of humanity shrugged away by “animal spirits.”
What do cars, tickets, and vacation plans have to do with the boom/bust cycle? Listen to find out!
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Read_259 – Lightning at the End of the Tunnel [Roy Sheinfeld]
This is an episode not to be missed. With a beta project focused entirely on the user experience, the @Breez_tech wallet is making a huge leap in the UX of Lightning that I thought was still months or even a year away. Very excited to discuss it and read an excellent article about all the challenges in the Bitcoin/Lightning user experience, and how they will be overcome. By Roy Sheinfeld, co-Founder of Breez Technology, today we read:
Lightning at the End of the Tunnel: Overcoming Bitcoin’s UX Challenges
https://medium.com/breez-technology/lightning-at-the-end-of-the-tunnel-overcoming-bitcoins-ux-challenges-5738171c759e
Check out the project on Twitter, check out their website, & Sheinfeld’s Medium page to stay up to date on developments:
https://twitter.com/Breez_Tech
https://breez.technology/
https://medium.com/breez-technology/lightning-at-the-end-of-the-tunnel-overcoming-bitcoins-ux-challenges-5738171c759e
Don’t forget to support the show if you are enjoying my work! =D
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Guy’s Take_017 – Erlay, Dandelion, & BitcoinOps
With help from the Bitcoin Optech newsletter we cover details and implications of the newly proposed Erlay protocol for spreading transactions quickly and efficiently across the network. An 84% reduction in bandwidth for getting transactions to every node, is certainly nothing to scoff at. With effects on network efficiency and privacy, let’s talk Erlay, Dandelion, & BitcoinOps!
Don’t forget to check out and follow the completely free BitcoinOptech Newsletter to stay up on all the new developments in Bitcoin and lightning:
https://bitcoinops.org/en/newsletters/2019/06/05/
A link to the official Erlay research paper with tons more data and analysis for a deep dive into this P2P improvement:
https://arxiv.org/pdf/1905.10518.pdf
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Read_258 – 21 Lessons of the Bitcoin Rabbit Hole – Chapter 3 [dergigi]
In the epic conclusion of the 21 lessons of the Bitcoin Rabbit hole, we talk about the technology, the network, and how Bitcoin is set to change the world. “The future is here, its just not evenly distributed.”
Don’t miss the 3rd & final Chapter of @Dergigi’s excellent piece!
Check out the full site with tons of other work below:
https://dergigi.com/bitcoin/lessons/
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Read_257 – 21 Lessons of the Bitcoin Rabbit Hole – Chapter 2 [dergigi]
Continuing our expedition through the lessons of the Bitcoin Rabbit Hole, we explore the realities of economics & the truth of money that is revealed by Bitcoin’s nature. Don’t miss the next 7 lessons on the economics that bitcoin teaches in our tumble down the rabbit hole.
Explore the many other links, graphics, and charts throughout this amazing section, plus the tons of other works available over at dergigi.com
https://dergigi.com/bitcoin/lessons/ch2-00-economics/
Follow dergigi on twitter below:
https://twitter.com/dergigi
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Read_256 – 21 Lessons of the Bitcoin Rabbit Hole – Chapter 1 [dergigi]
An epic journey with author @dergigi on the unexpected lessons he learned tumbling down the Bitcoin rabbit hole. One can always take a closer look at Bitcoin and the strange, new phenomenon that it is. Don’t miss this excellent 3 part series found at dergigi.com!
Explore the other work and incredible list of further reading and discussion on each lesson in the “Further down the Rabbit Hole” sections:
https://dergigi.com/bitcoin/lessons/ch0-02-introduction/
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Read_255 – Bitcoin An Accounting Revolution [Permabull Niño]
“Those who argue “high fees will kill adoption” fail to understand the intensity of assurances Bitcoin offers, and the ease at which it does this. Put lightly — Bitcoin is insanely cheap compared to alternative options for obtaining high degrees of assurance. Bitcoin is a vehicle built for moon missions, but we are giving it similar treatment to a scooter.” @imacallyoujawdy
Don’t miss an excellent piece exploring the revolution of money and accounting assurances represented in the Bitcoin system. Plus my own commentary on why gold acted as a check to the accounting limitations of the past & why Bitcoin has changed the entire game all over again. From @imacallyoujawdy, we read “Bitcoin: An Accounting Revolution.”
Don’t forget to check out the full article and follow the author on Twitter:
https://twitter.com/ImacallyouJawdy
https://medium.com/@permabullnino/bitcoin-an-accounting-revolution-40efcb903d7b
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Read_254 – Bitcoin & Software Reliability [beautyon_]
” ‘Break stuff’ in that context means ‘Kill People.’ The software simply must work every time, no compromise, no guesswork, no exceptions. There are no ‘do overs’ or roll-backs.”
The “To the Moon!” Bitcoin meme is far more relevant than many realize. Bitcoin is mission critical software. It requires a vastly different engineering philosophy and design. With a short, but fun piece by @Beautyon_, we break down the conceptual reasons why the development mentality of Bitcoin should be mirror the mentality of those designing software that carries men & woman to the moon.
Check out, and drop some applause on the original at the link below. Don’t forget if you like this work that you can send a donation ot the posted address, along with exploring the many other articles from @beautyon_:
https://hackernoon.com/bitcoin-and-software-reliability-d681367a49b2?source=———13——————
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