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
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
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!
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
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
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Guy’s Take_016 – Drama, Drama, Toxic Drama
Curious about all the #BitcoinTwitter buzz recently? I went digging to find the associated twitter threads & comments to read, and then discuss my own take on all the drama.
Too long; Didn’t Listen –
• Don’t be a jerk.
• We aren’t responsible for other people’s feelings.
• If you have to choose between making someone uncomfortable & telling them what you believe to be true, speak the truth.
• Open discourse, no matter how “toxic,” is preferable to back room political fighting.
• These are the consequences of freedom of speech.
The threads in question, plus one I only found after recording the episode (unfortunately) by @TheBlueMatt that’s related to the discussion.
@soonaorlater (Soona)
https://twitter.com/soonaorlater/status/1131985122238971904
@nwoodfine (Neil Woodfine)
https://twitter.com/nwoodfine/status/1132138203769581568
@TheBlueMatt (Matt Corallo)
https://twitter.com/TheBlueMatt/status/1133040768531214338
https://twitter.com/TheBlueMatt/status/988835275605504000
@Excellion (Samson Mow)
https://twitter.com/Excellion/status/1133656769538904065
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Guy’s Take_015 – The Bcash 51% Attack
In a crazy conversation from last night’s meet-up, I learned of discussion of a purposeful re-org, a 51% attack, on the #BCH chain by 2 miners. After a few hours scrambling to pull details together this morning, this is what I’ve discovered so far. Don’t miss this Guy’s Take episode all about the #Bcash 51% attack!
These are the links to the conversations and posts that I found relevant information at:
https://honest.cash/kiarahpromise/sigop-counting-4528
Article on hash power dominance of BTC.TOP:
https://bitcoinexchangeguide.com/is-bitcoin-cash-under-a-51-percent-attack-as-one-bch-mining-pool-nears-over-half-control/
Reddit Threads:
https://www.reddit.com/r/btc/comments/bpwlgx/got_this_in_my_inbox_a_couple_of_minutes_back/
https://www.reddit.com/r/btc/comments/bq6g5h/so_does_this_mean_that_we_unintentionally_killed/
https://www.reddit.com/r/btc/comments/boysr1/bch_upgrade_postmortem/
https://www.reddit.com/r/btc/comments/bqah5p/psa_everybody_stay_alert_im_getting_a_bch/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reddit%2Fpreh+%28Bitcoin+-+The+Internet+of+Money%29
Found after I finished recording the episode (will update with details in the next show):
https://honest.cash/Cheshire_Cat/bitcoin-cash-guardians-and-pirates-in-sight-3334
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Guy’s Take_014 – The What, Why, & How of Lightning
Today, in preparation of & to understand the significance of the vast array of new features and developments coming to lightning, we cover a full overview of the What, Why, & How of the Lightning Network.
What exactly is it, why do we need it, and how exactly does it work? A huge thank you to Aaron Van Wirdum, Pierre Rochard, and Rusty Russell for making this understandable for me, we dive into a high level approach to understanding what’s happening in lightning. In addition, despite forgetting to mention them in the podcast, a shout out to Christian Decker, Andreas Antonopoulos & Bryan Vu who have also produced great great content that helped in my understanding of lightning as well.
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Guy’s Take_013 – Nodes vs Miners, Who Defines Bitcoin?
Today we cover more specifically the consequences and risks of a divorce between miners & the network of nodes. What could the miners do, are sybil attacks proof that nodes worthless, what exactly are the incentives that keep the different players in this ecosystem working together? Don’t miss another fun discussion on what defines Bitcoin, and the role that proof-of-work & validation play in this revolutionary technology.
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Guy’s Take_012 – Full Nodes or Nothing, The Story of Validation [Part 1]
When we dig to the very base elements of Bitcoin, we find it is merely digital points. What make these integers different from identical ones on billions of other computers? It is the rules that restrict the editing of those specific integers we call Bitcoin, in other words, it is the network of validating nodes that define it. In this episode you will hear Part 1 of my argument as to why.
Don’t forget to check out @StopAndDecrypt’s relevant article series and the amazing graphics for visualizing the relationship between nodes, miners, and the network by visiting the page below:
https://medium.com/@StopAndDecrypt
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Guy’s Take_011 – Why Lightning Sucks
Lightning is complicated, difficult to use, sometimes doesn’t work properly, requires a lot of learning and experimentation, and is still a risky place to hold Bitcoin funds. Doesn’t this make it a protocol destined to obscurity and disuse? Doesn’t it mean that better, simpler options will simply replace it, and Bitcoin is to fail from its extensive limitations? Find out all the ways I find Lightning *doesn’t* do its job well, & what I think it means for the future in today’s Guy’s Take episode!
Mentioned in the show:
paywall.link
pollofeed.com
schnorr signatures
previous Guy’s take on the complexity of the internet
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Guy’s Take_009 – A Trust Model Comparison: Bitcoin vs. the Mighty Dollar
Disclaimer: If you are an ardent supporter of government projects, believe in the moral fiber of politicians, and in the power of voting to produce the greater good, then you will likely not enjoy this episode. You were warned 😉
It feels like a good day for a long discussion comparing the trust model of government money, and the trust model of a decentralized, proof-of-work blockchain. Aka – Bitcoin vs. The Dollar. So lets take a dive into the various systems, their consequences, and the incentives that envelop both the rules and monetary policy that govern the Bitcoin system, and those that govern our political and banking institutions. Don’t forget to check out Cryptoconomy.life to explore more episodes like this plus hundreds of Bitcoin articles made available in audio format.
Spoiler alert: The dollar doesn’t fair so well.
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Guy’s Take_008 – The Lightning of my TCP, or How the Internet is Too Complex to Work
A follow-up to our previous episode “#Reckless to Wumbology” discussing the incredible development and new tools coming to the Lightning Network. As well as an exploration of the vast complexity of the internet and how, surely, it could never work. Get ready for a long rant in this Guy’s Take episode XD
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Guy’s Take_007 – Happy Birthday Bitcoin, Looking Back on 10 Insane Years
A look at the crazy past, the present, and the future of Bitcoin and where I think things are headed. Bitcoin is here to stay and there are 10 amazing years of Proof-of-Survival I can point to as evidence. Happy Birthday Bitcoin, may the next 10 years be just as crazy!
—
Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
