Guy’s Take_067 – Withdraw Everything
With the banking crisis just getting started, with the SEC going after Binance and Coinbase, with rumors of Prime Trust declaring bankruptcy, it is no better time than now to take advantage of the most elegant aspect of Bitcoin, that it is a bearer asset that you can own without the permission or liability of anyone else. There is no better time than now, to withdraw. Today’s episode will dig into the recent excellent work from Brad Mills, as well as explore the fundamental reasons for our systemic contagion, as well as what we can do to protect ourselves and our families from going down with the ship.
Some of the links and works mentioned in the show that I highly encourage you check out:
The Yield From Money Held – https://open.spotify.com/episode/67dqOHWLX9NRmAs4S0G9XQ?si=03c23b0343a44f2f
The Depression You’ve Never Heard of – https://open.spotify.com/episode/1IzDtYJdMGZ1R8JO9Rx0EE?si=785f02c791e748e9
Guy’s Nostr Pubkey: npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev
Don’t forget that Code BITCOINAUDIBLE gets 9% off the ColdCard! (https://bitcoinaudible.com/coldcard)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. Lets be 50k Sat buddies by signing up! at (https://bitcoinaudible.com/fold)
• The Swan IRA is live! Follow the link to find out how to get your tax free retirement funds, securely allocated to Bitcoin! The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
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“Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains.” — Steve Jobs
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Guy’s Take_066 – Pooping in the Park
Bitcoin is a public good. The maintenance and stewardship of the network rests on the conviction and work of 10s or 100s of thousands of node operators who work to validate and ensure consistency among the rules and the truth of the data propagated throughout. NFTs and BRC tokens have come to the Bitcoin timechain, stamping large amounts of data to the chain, and causing bloat in the UTXO set, as well as validation and bandwidth costs. Is the sky falling? Is this totally unimportant? Or is there a meaningful conversation to have about the incentives that led us here, and what, if anything could be done about it? Today’s show is an introduction to the problem, a brief assessment of what responses could be made, and an argument on why to be good stewards of our public good, we shouldn’t poop in the park. This is Guy’s Take #66.
Guy’s Nostr Pubkey: npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev
Code BITCOINAUDIBLE gets 10% off your Bitcoin2023 tickets!
Don’t forget to check out our amazing sponsors:
• The Swan IRA is live! Follow the link to find out how to get your tax free retirement funds, securely allocated to Bitcoin! The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20,000 FREE SATS! at (https://bitcoinaudible.com/fold)
• Dive into the Bitcoin only wallet, the cypherpunk calculator, with the NEW Coldcard Q1! A company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 9% off the ColdCard! (https://bitcoinaudible.com/coldcard)
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“Money is one of the greatest instruments of freedom ever invented by man. It is money which in existing society opens an astounding range of choice to the poor man, a range greater than that which not many generations ago was open to the wealthy” — F.A. Hayek
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Guy’s Take_065 – Banks, Digital Money, and a Cat
Prices are relative, Bitcoin is infinitely scalable, stability for the sake of stability is undesirable, maximal instability in prices maximizes resilience in the markets, and so much more. Today we dive into a bit of a wandering Guy’s Take to follow El Gato’s piece on the idea of a free banking system and what it might look like in a future with PBDCs, instead of CBDCs. I break down where he has some wonderful ideas, but fundamentally misses the foundation necessary to get us there.
Guy’s Nostr Pubkey: npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev
Don’t forget to check out our amazing sponsors:
• The Swan IRA is live! Follow the link to find out how to get your tax free retirement funds, securely allocated to Bitcoin! The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20,000 FREE SATS! at (https://bitcoinaudible.com/fold)
• Dive into the Bitcoin only wallet, the cypherpunk calculator, with the NEW Coldcard Q1! A company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 9% off the ColdCard! (https://bitcoinaudible.com/coldcard)
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“When you want to help people, you tell them the truth. When you want to help yourself, you tell them what they want to hear.” — Thomas Sowell
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Guy’s Take_064 – No Way Back, Only a Way Out
There is no magic wand. There is no such thing as a free lunch. When we bail out an institution, a bank, or “depositors” for billions of dollars, someone else LOSES billions of dollars worth of wealth. Their life got harder, their job got cut, the car they needed became less affordable, the house they hoped for their family stays out of reach, they PAID for it. Unfortunately, our government and central bank is either not mature enough to realize that magic is for children, or they are robbing from us knowingly and destroying the lives of the people on purpose, and simply don’t care. Either way, there is no way back, our only option is a way out.
Today we finally dive into the SVB insolvency and the wider banking crisis. An episode that turned quickly from a meticulous set of notes into an hour long rant that basically ignored all of them. Enjoy
Allen Farrington’s npub: npub1sfhflz2msx45rfzjyf5tyj0x35pv4qtq3hh4v2jf8nhrtl79cavsl2ymqt
Guy’s Nostr Pubkey: npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev
My Twitter Post: https://twitter.com/TheGuySwann/status/1634954336739491843?s=20
Liberty Lockdown with Greg Foss: https://open.spotify.com/episode/4Z4jfPlKburchKlNESbinJ?si=a35f5034c6144383
Brad Mills tweet thread: https://twitter.com/bradmillscan/status/1637182219943919618?s=20
Caitlyn Long WBD: https://open.spotify.com/episode/2ZA0BGuUwZFoBRhXLSJetL?si=b2bf4e2e38d749b4
Don’t forget to check out our amazing sponsors:
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20,000 FREE SATS! at (https://bitcoinaudible.com/fold)
• The Swan IRA is live! Follow the link to find out how to get your tax free retirement funds, securely allocated to Bitcoin! The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
• Dive into the Bitcoin only wallet, the cypherpunk calculator, with the NEW Coldcard Q1! A company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 9% off the ColdCard! (https://bitcoinaudible.com/coldcard)
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“The most egregious falsehood regarding economic health that is nonetheless widely believed is surely that we ought to measure it by the magnitude of goods and services consumed. This is dangerous nonsense.” – Allen Farrington, Sacha Meyers
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Guy’s Take_063 – Anatomy of a Scam, The IMF and World Bank Empire
Today we break into the racket that is the IMF and World Bank monetary imperialism. Piggy backing off Gladstein’s remarkable piece detailing the horrific consequences of this system and the clear intent and disregard for human life and basic freedoms, we discuss the fundamental principles of sound money that would be a basis to prevent this, how the fiat system gets around this balancing forces and corrupts the incentives, and how Bitcoin and a global neutral standard may finally bring about its end.
Listen to the full work by Gladstein, of the other piece mentioned in this Guy’s Take from Nayib Bukele:
Structural Adjustment: https://open.spotify.com/episode/4SIvE5gOkPuG6Hv6P8UYMr?si=8fe60145e5c44638
Stop Drinking the Elite’s Kool-aid: https://open.spotify.com/episode/1eXeTRTccQvDTqauRicdEi?si=a44236b05ae04b78
Don’t forget to check out our amazing sponsors:
• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 10% off everything in the store until Christmas! (https://guyswann.com/coldcard)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 5,000 FREE SATS at (https://guyswann.com/fold)
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
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“WAR is a racket. It always has been. It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one international in scope. It is the only one in which the profits are reckoned in dollars and the losses in lives.”
― Major General, Smedley Butler
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Guy’s Take_062 – Dear Peter Zeihan…
How much economic ignorance can you fit into 1 minute and 54 seconds? Well apparently its quite a lot. Peter Zeihan confidently embarrassed himself on Joe Rogan’s podcast recently by going on a short rip regarding Bitcoin’s negative value and how a reliable, fixed money causes economic disaster but the inflated, debt drowned political currency is more valuable. And how counterfeiters have rightfully earned the wealth they steal, but savers gaining some purchasing power as the economy grows is “unviable.”
We dive into a short clip of Peter Zeihan and take it apart, piece by ignorant piece, in today’s Guy’s Take episode. Strap in.
Here are the links to so many other reads for diving further into these economic ideas if you want a deeper understanding. All highly recommended:
No Bitcoin Has No Intrinsic Value, and that’s great!: https://open.spotify.com/episode/0EyuzhpYZRR5TimBl28Ngw?si=f5223cb0872545f9
Another Way to Think About Bitcoin’s Value: https://open.spotify.com/episode/5d8O5XztARIi0eI7lYMmSN?si=8c89c2cf2c4a4f0a
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World Hyperinflations: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2130109
When Money Dies: https://www.amazon.com/When-Money-Dies-Adam-Fergusson-audiobook/dp/B004FU1028
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Trusted third Parties are Security Holes: https://open.spotify.com/episode/21iWPjbJrRfZb3sBUb6zkD?si=c5946f4f85984745
The Dawn of Trustworthy Computing: https://open.spotify.com/episode/4AkUNUNGFeCibaPyQWtHSY?si=c351d269b0ee4cf6
The Whitepaper: https://open.spotify.com/episode/1mxIgLMRVzsuYj964ZiLa9?si=3e386d6c5ae14864
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The Use of Knowledge in Society: https://open.spotify.com/episode/6itH5T3tXPlLfJil5jcuU4?si=82d1e0deb1da4725
The Yield From Money Held, Reconsidered: https://open.spotify.com/episode/67dqOHWLX9NRmAs4S0G9XQ?si=9f8fa16e335e4dc6
Don’t forget to check out our amazing sponsors:
• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 10% off everything in the store until Christmas! (https://guyswann.com/coldcard)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 5,000 FREE SATS at (https://guyswann.com/fold)
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)
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“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” – Satoshi Nakamoto
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Guy’s Take_061 – Blockchains, A Square Peg for Round Holes
There are about a million claims out there as to what blockchains are going to fix, and how NFTs are going to be used to unlock your house, and how DAOs will be used to enforce and decide laws, but what truth is there to this really? And more importantly, does a blockchain really solve these problems? What are the inherent trust issues, and where are the vulnerabilities? Today we dive into this concept and cover many of the most touted “use cases” for blockchain and talk about what could be needed to solve them, and whether blockchain is just a square peg for a round hole.
Mentioned in the episode are two highly recommended reads for further digging and to understand more precisely some of the ideas behind Guy’s Take in today’s show:
Green Eggs and Ham:
Part 1 – https://open.spotify.com/episode/2Zf1kcS8lnrgiaMBKcs2BQ?si=ed8dd3bf43dd499b
Part 2 – https://open.spotify.com/episode/72tyuRteYqjFJFukixhZU1?si=499235400b854bc9
Bitcoin is the Great Definancialization:
https://open.spotify.com/episode/30ZOqjCG1XL5ySSeEg1lBz?si=a03ba06d8d854fd6
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• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 10% off everything in the store until Christmas! (guyswann.com/coldcard)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 5,000 FREE SATS at (guyswann.com/fold)
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy)
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Guy’s Take_060 – Digital Money
Today we explore a highly earned Guy’s Take for Dergigi’s “Bitcoin is Digital Scarcity” as well as using a core part of his framing to make sense of a few fundamental ideas behind Bitcoin. Recently as well I continue to run into the question, what is Bitcoin backed by? And I think this misses the entire point of why our virtual monies today need to be “backed” by something else, and why Bitcoin is different. So let’s dive in…
Don’t forget to check out the episodes and reads mentioned in this Guy’s Take at the links below:
Dergigi’s “Bitcoin is Digital Scarcity”
Trent’s “Five Examples of Bitcoin’s Real World Utility”
Nick Szabo’s “Shelling Out – The Origins of Money”
Check out our amazing sponsors and the products that Guy uses most in the space:
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 5,000 FREE SATS at (guyswann.com/fold)
• COME HANG OUT! Join us and the Swan Bitcoin team at the Pacific Bitcoin Conference in November! Get your tickets now, 10% off with code BITOCINAUDIBLE (https://www.pacificbitcoin.com/)
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy)
• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 5% off everything in the store! (guyswann.com/coldcard)
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Guy’s Take_059 – We’re Not Going Anywhere
“Bitcoin is not merely a network, it’s a foundation for an anti-authoritarian political movement in an increasingly authoritarian world. If you’re looking for why so many people are deeply passionate about Bitcoin & nothing else, start there.” – Guy Swann
Today I decide to rant about what Bitcoin maximalism means to me, why I am totally and completely focused on Bitcoin and nothing else, and why I think “crypto” has lost the plot. Crypto is interested in building a bunch of toys to be accepted by the establishment, Bitcoin is a declaration of independence from it.
The other episodes mentioned for diving deeper into this topic:
• My Path to Bitcoin Maximalism (by Sessions)
• How to Be a Bitcoin Maximalist (Pete Rizzo)
• Setting the Record Straight (Nic Carter)
Check out our amazing sponsors and the products that Guy uses most in the space:
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy)
• COME HANG OUT! Join us and the Swan Bitcoin team at the Pacific Bitcoin Conference in November! Get your tickets now, 10% off with code BITOCINAUDIBLE (https://www.pacificbitcoin.com/)
• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 5% off everything in the store! (guyswann.com/coldcard)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20% OFF with code BITCOINAUDIBLE (guyswann.com/fold)
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Guy’s Take_058 – “Rent-Seeking Savers!” Misconceptions in Noahpinion’s Crypto Misconceptions
“I think there are some important economic errors in the stories I see people telling about crypto, on Twitter and elsewhere — errors that have important implications for how we should think about the value of Bitcoin and other blockchain assets.” – Noahpinion
Unfortunately I think there are quite the few economic errors in Noahpinion’s article titled, “Economic misconceptions of the crypto world.” While he may actually have some fundamental points to add around much of the “crypto” space and their failure to understand what creates value, I think it shows Noahpinion’s own misconceptions when he incorrectly applies some of the common crypto fallacies to Bitcoin, without understanding the deeper arguments, behind the more popular, & simplistic taglines that make their way across the social landscape.
So in the most Guy Rant filled episode I’ve done in ages, we dive into the Misconceptions in Noahpinion’s Crypto Misconceptions. Why savers aren’t rent seekers, but money printers are rent seekers of the worst magnitude.
Pieces mentioned in the article for further reading or listening:
The Yield From Money Held, Reconsidered:
https://bitcoinaudible.com/the-yield-from-money-held-reconsidered/
The 7th Property (Eric Yakes):
https://www.amazon.com/7th-Property-Bitcoin-Monetary-Revolution/dp/0578902621
First Impressions of Web3:
https://open.spotify.com/episode/7D4UD3n3H2mflqkVNnVczj?si=10ccd7de3c7a4e85
Check out our amazing sponsors and the products that Guy uses most in the space:
• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 5% off everything in the store! Coinkite.com
• The best place to onboard a true Bitcoiner – Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy)
• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20% OFF with code BITCOINAUDIBLE (guyswann.com/fold)
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Guy’s Take_057 – Bitcoin Domino Theory
What if, sitting in the middle of a chaotic monetary environment, increasing capital controls, balkanizing political regimes, a failing petrodollar hegemony, collapsing institutional trust, increased sanctions & weaponized infrastructure, & aggressive, widespread inflation… there sat a global, neutral, decentralized, robust, & incorruptible network to store and transfer value? What would it look like if that network was infiltrating the global monetary order, in a sly round about way? Listen to today’s episode to find out.
Check out our amazing sponsors below, they are among my most used products and services in Bitcoin, and have exclusive discounts and offers for the Audionauts:
Become sovereign, hold your keys, be censorship resistant with the Bitbox02 hardware wallet. Get 5% off everything in the store with code GUY (guyswann.com/bitbox)
Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy)
Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20% OFF with code BITCOINAUDIBLE (guyswann.com/fold)
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Guy’s Take _056 – The Cascading Dominoes – Part 1
I promised, and it’s finally here. It’s time to get a little perspective, with the price at all time lows, exchanges and lending platforms imploding, a massive crypto deleveraging event, the Fed tightening, and the market heading into deep recession… HOW could you be bullish? Because I’m paying attention. It’s time to zoom out, focus our lens past all the noise, take a serious look at the past year in Bitcoin, to get a clearer picture of the cascading dominoes… This will be part 1 of a series. It’s time for a Guy’s Take episode.
A few links below of those things mentioned in the show to check out if you haven’t yet. Plus be sure to go through the episode catalog for the show. There is an extraordinary amount of past work now to go through and I try to make sure that the majority of stays relevant for years.
Fidelity – Bitcoin First Report:
https://open.spotify.com/episode/2bbmhdkHH1vcM31uo5Mimd?si=41c25898fa6c4c63
Check out our amazing sponsors below, they are among my most used products and services in Bitcoin, and have exclusive discounts and offers for the Audionauts:
Become sovereign, hold your keys, be censorship resistant with the Bitbox02 hardware wallet. Get 5% off everything in the store with code GUY (guyswann.com/bitbox)
Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy)
Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20% OFF with code BITCOINAUDIBLE (guyswann.com/fold)
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