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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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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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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Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message