Guy’s Take_031 – Open Source Society in a Patented World
In a world drowning in patent trolls, insane intellectual property restrictions, and a reality where someone who neither can build a product, nor came up with the idea, could make millions by suing those who wish to use it… how can we protect an open source ethos in the Bitcoin and cryptocurrency space? How do we defend an alternative financial system from the intellectual prisons of the legacy system it is replacing?
Another major initiative is bringing us one step closer to that future thanks to Square, the owner of Cash App. Behind major donations to developers, even those who are anonymous, a new move to protect individual developers, projects, and even major companies from the turbulent environment of patent aggressors has been launched. We dig into COPA and the need for continuing the open source ethos of Bitcoin in today’s Guy’s Take episode!
What are the morality & ethics of Intellectual Property? Check out my recent conversation with the one and only Stephan Kinsella:
https://anchor.fm/thecryptoconomy/episodes/Chat-46—Stephan-Kinsella-on-Intellectual-Property-in-the-age-of-Bitcoin-ej9fto
An old, but great article from Bitcoin Magazine about previous troubles in the patent arena & Blockstream’s previous work in defending the market:
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_020—There-is-a-Bitcoin-Patent-War-Going-On-e2ndu8
And of course learn about or join the “Crypto Open Patent Alliance” if you are building a project or want to know more at the link below:
open-patent.org
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Guy’s Take_030 – The Dominoes are Falling
“We find the global acceptance, brand recognition, ecosystem vitality, network dominance, architectural resilience, technical utility, and community ethos of Bitcoin to be persuasive evidence of its superiority as an asset class for those seeking a long-term store of value.” – Michael Saylor
These are the words of the CEO of MicroStrategy, an enterprise analytics firm that has made a huge investment into Bitcoin, not truly as a speculative avenue, not as a small allocation in order to gain exposure to its potential upside, and protect from downside risk, and not as a means to provide a service for the industry or change their business strategy. They have purchased 21,424 bitcoins after an analysis of the global macro environment, the failing faith in the fiat financial system, and in seeking a long term store of value with significant growth potential.
They have looked at their treasury and compared their options, to either hold the mighty US dollar (the current global reserve currency) or Bitcoin (the most secure, independent digital currency) and have decided that the principal holding of their treasury reserves, would be safer in Bitcoin.
The Dominos are beginning to Fall
Check out the Fidelity article mentioned in this episode to dig further:
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_183—Custody-in-the-Age-of-Digital-Assets-Fidelity-Digital-e2ndoi
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Guy’s Take_029 – on the Bill Bert Podcast with Anthony Pompliano
Today’s Guy’s Take is a response to the Bill Bert podcast with Anthony Pompliano! What did Pomp miss? What did he get wrong? Lets do something a little different with this episode, and feel free to check out the video by finding it on YouTube with links and other things provided in the shownotes. Let me know what you think, and don’t forget to subscribe!
Watch Episode 20 of the Bill Bert Podcast on youtube below:
https://youtu.be/UbMaPYX52go
Start your long term, auto purchase, super simple Bitcoin savings plan below and get $10 to start off for free!
SwanBitcoin.com/Guy
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Guy’s Take_028 – Bitcoin & The Layers of Financial Cryptography
A follow-up to yesterday’s incredible read from The Nakamoto Institute by Ian Grigg, The 7 Layers of Financial Cryptography. Today we dig into what the reality of financial cryptographic systems as they have been developed & secured through Bitcoin. What philosophy and mentality informed it all, and where did it differ from Ian’s vision, and where was he able to see what would come about?
Mentioned in the show for further exploration:
Bittorrent Lessons Part 1 – https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_219—Why-BitTorrent-Mattered-Lesson-1-Simon-Morris-e3ghrs
Bittorrent Lessons Part 2 – https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_220—Not-Breaking-Rules–Youre-Doing-it-Wrong-BitTorrent-Lesson-2-Simon-Morris-e3grft
Bittorrent Lessons Part 3 – https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_221—Intent–Complexity—Governance-Paradox-BitTorrent-Lesson-3-Simon-Morris-e3h2uj
Bittorrent Lessons Part 4 – https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_222—Decentralized-Disruption–Who-Dares-Wins-BitTorrent-Lesson-4-Simon-Morris-e3hek4
Inventing Bitcoin by Yan Pritzker:
https://www.audible.com/pd/B087C59TS7/?source_code=AUDFPWS0223189MWU-BK-ACX0-192596&ref=acx_bty_BK_ACX0_192596_pd_us
Dont forget to start your Bitocin savings plan, auto buy with the simplest set it and forget service out there at SwanBitcoin.com/guy
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Guy’s Take_027 – Corona Virus… Bitcoin Fixes This
1 • Why has the Corona Virus been upgraded from a significant healthcare problem, to a global economic catastrophe?
2 • What would be Guy’s strategy as a Destroyer of Economies?
3 • Bitcoin Fixes this
What I hope to be a fun Guy’s rant on why Corona is a huge problem not because of the virus itself, but because of a terribly unprepared economy, and how I might go about laying the groundwork for any natural disaster to cause the most damage and lay waste to as much economic activity as possible. Find out how in today’s Guy’s Take.
Francisco D’Anconia’s Money Speech from Atlas Shrugged:
https://www.youtube.com/watch?v=u-T0ey0IKDA
Don’t forget to get your Bitcoin2020 Tickets! See you guys at the biggest Bitcoin conference of the year!
Bitcoin2020conference.com
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Guy’s Take_026 – The Halving is Not Priced in, Here’s Why
As a follow up to Nic Carter’s excellent breakdown of the efficient market hypothesis, and PlanB’s piece addressing the market’s evaluation of the risks in Bitcoin, I go through the reasons I feel the market both is very unwilling and unconfident about the consequences of the halving, and therefore sees it not as “known information,” but more a blind gamble.
For diving deeper into the many topics and works that I brought up, here are the links of all those I remembered:
• Nic Carter’s “Introduction to the Efficient Market Hypothesis”
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_343—Introduction-to-the-Efficient-Market-Hypothesis-for-Bitcoiners-Nic-Carter-eac03b
• PlanB’s “Efficient Markets and Bitcoin’s Stock-to-Flow”
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_344—Efficient-Markets–Bitcoins-Stock-to-Flow-PlanB-eaco0i
• Hayek’s “Use of Knowledge in Society” [Part 1 & 2]
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_250—Use-of-Knowledge-in-Society-Part-1—F–A–Hayek-e43pfj
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_251—Use-of-Knowledge-in-Society-Part-2—F–A–Hayek-e444k0
• Parker Lewis’s “Bitcoin is Not Backed by Nothing”
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_335—Bitcoin-is-Not-Backed-by-Nothing-Parker-Lewis-e9v1rs
• Hoppe’s “Yield From Money Held Reconsidered”
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_122—The-Yield-From-Money-Held-Reconsidered-e2ndqn
• Conner Brown’s “Bitcoin Has No Intrinsic Value, & That’s Great!”
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_249—Bitcoin-Has-No-Intrinsic-Value—Thats-Great–Conner-Brown-e43bcm
Don’t forget to grab your tickets to BitBlockBoom and use the offer code CC for a 30% discount!
https://bitblockboom.com/
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Guy’s Take_025 – Money, Networks, Blockchains, & Bitcoin
The much deserved Guy’s Take episode as a dedicated follow-up to the amazing work of “The Bitcoin Time Vol 1.” There just wasn’t enough time to do it justice during the read, so today I give my take on the plethora of ideas conveyed in Alek Svetski’s awesome work!
Don’t forget to listen to the audio if you haven’t yet! Part 1 and 2 linked below:
Part 1 – https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_315—Blockchain-is-Dead—The-Bitcoin-Times-Vol-1—Part-1-Aleksandar-Svetski-e8r9ar
Part 2 – https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_316—A-New-Monetary-Network—The-Bitcoin-Times-Vol-1—Part-2-Aleksandar-Svetski-e8rqi1
As I said, the ideas in this piece are many & very dense. We’ve had entire episodes expanding on these topics that are great for a deeper journey down the rabbit hole. Here are some links to those past works that will elaborate on the many topics.
• Money blockchains social scalability
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_066—Money–Blockchains–and-Social-Scalability-e2ndsj
• Bitcoin can’t be copied
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_291—Bitcoin-Cant-Be-Copied-Parker-Lewis-e58g11
• Independent property rights
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_225—Bitcoin–the-Promise-of-Independent-Property-Rights-Hasu–Su-Zhu-e3j6b8
• I, pencil
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_123—I–Pencil-Leonard-E–Read-e2ndqm
• How The Internet is Too Complex to Work
https://anchor.fm/thecryptoconomy/episodes/GuysTake_008—The-Lightning-of-my-TCP–or-How-the-Internet-is-Too-Complex-to-Work-e32omd
• Reckless to Wumbology – The Lightning Build Out
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_206—Reckless-to-Wumbology–The-Lightning-Network-Build-Out-Arjun-Balaji-e3235m
• Origins of Money
https://anchor.fm/thecryptoconomy/episodes/Shelling-Out—The-Origins-of-Money-Nick-Szabo-e2ndom
• 7 Misunderstandings of Bitcoin’s Scaling Problem
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_038—7-Misunderstandings-of-Bitcoins-Scaling-Problem-e2ndtf
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Guy’s Take_024 – But Lightning Enables…
Finishing up our Lightning week on the show, I’ve got a Guy’s Take on all the different applications I think are viable here in the early days of Lightning, and also what decentralized projects may make sense on Lightning, but are pointless as “utility tokens.”
• Sat4Ads (The real BAT)
• Why utility tokens are backwards economics
• Fold, BitRefill, & Lolli
• Making Bitcoin bills make sense
• Watchtowers for decentralized backups
• A new e-commerce?
& tons more!
Here’s some more great listens to go deeper down the rabbit hole with today’s discussion:
• Minimum Viable Decentralization [Simon Morris]
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_228—Minimum-Viable-Decentralization-e3lfo9
• Estimating and Minimizing Consumer Worry [Nick Szabo]
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_195—Estimating-and-Minimizing-Consumer-Worry-e2ndo7
• Richard Myers on a Lightning Powered Global Mesh
https://anchor.fm/thecryptoconomy/episodes/CryptoChat_013—Richard-Myers-and-a-Lightning-Powered-Global-Mesh-e4e6ga
If you want to join in the Cryptoconomy Telegram and help support turning all of the best Bitcoin literature into audio, become a patron below!
www.patreon.com/thecryptoconomy
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Guy’s Take_023 – Revolution in the Protocol [on Nic Carter’s “Peaceful Revolution”]
Today we have a follow up to Nic Carter’s excellent piece on Medium, A Most Peaceful Revolution. An incredible article that deserves an exhaustive discussion and easily earns a few ridiculous rants. What could be better for Guy’s Take 23?
Other episodes and works mentioned in the show for a deeper dive:
A Most Peaceful Revolution
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_293—A-Most-Peaceful-Revolution-Nic-Carter-e5bfpm
Anatomy of the State
https://mises.org/library/anatomy-state
A Cypherpunk’s Manifesto
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_163—A-Cypherpunks-Manifesto-e2ndpc
The Crypto Anarchist Manifesto
https://www.activism.net/cypherpunk/crypto-anarchy.html
The Bitcoin Survivor’s Book List
https://cryptoconomy.life/bitcoin-survivors-book-list/
Bitcoin and the Promise of Independent Property Rights
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_225—Bitcoin–the-Promise-of-Independent-Property-Rights-e3j6b8
Bitcoin Can’t Be Copied
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_291—Bitcoin-Cant-Be-Copied-Parker-Lewis-e58g11
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Guy’s Take_022 – But Bitcoin Isn’t User Friendly…
• Keys are being abstracted away.
• Users will call customer support to restore their coins, but never give up control.
• Ownership of a single UTXO will become rare.
• On-chain transactions will be used to build networks, more than transfer coins.
• Lightning, sidechains, statechains & more will work invisibly behind the curtain.
Things are changing fast, and we go through all sorts of great stuff in this show and I attempt to explain some of the technical elements with analogies using cookies. Gonna be a fun one, so don’t miss it!
Thank you to our newest patron, Maximilian Schmitz!! Join Max in supporting the show & help make every great work about Bitcoin and the Cryptoconomy into the audio version it deserves! Plus, get access to the exclusive Cryptoconomy Crew Telegram!✊
https://www.patreon.com/thecryptoconomy
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Guy’s Take_021 – Bitcoin & the 7th Great Disruption of the Digital Age
Bitcoin isn’t just a token you can send and receive online, it isn’t just a digital money, its a complete inversion of the idea of money in the same way that the internet changed the nature of information. To understand exactly why, we need to look at the previous major societal disruptions brought about by the Digital age, and we can begin to see where Bitcoin will fit into the big picture.
1) Mail & Connecting
2) Publishing & The Web
3) The Infrastructure Inversion
4) Ecommerce
5) The New Media
6) Collaboration & Crowd Sourcing
7) New Money & Permissionless Finance
Don’t miss a fun exploration through the history of the internet and the role that Bitcoin will play in establishing ground for a second chapter in the Digital Age!
Further Reading/Listening mentioned in the episode:
Szabo’s essential work, Shelling Out: The Origins of Money (no commentary)
https://anchor.fm/thecryptoconomy/episodes/Shelling-Out—The-Origins-of-Money-e2ndom
(with commentary)
Part 1
Part 2
Part 3
Part 4
The Incredible Iterative Capital Thesis: What’s Really Driving the Cryptocurrency Phenomenon
https://anchor.fm/thecryptoconomy/episodes/Whats-Really-Driving-the-Cryptocurrency-Phenomenon—-The-Iterative-Capital-Thesis-e2u7qq
And numerous excellent books that I’ve pulled together on the Bitcoin Survivor’s Book List:
https://cryptoconomy.life/bitcoin-survivors-book-list/
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Guy’s Take_020 – How Bitcoin Could Bring Down the State
Inflation, or manipulation of the money supply to the benefit of the politically well connected, is quite possibly the most pervasive frauds of modern society. It creates multiple layers of compounded resource misallocation, it benefits the debtors and manipulators at the expense of savers, it puts a constant downward pressure on living standards, and it enables more unchecked corruption and abuse of power than any other aspect of our political systems.
Following Hulsmann’s work, Deflation & Liberty, we have a foundation to understand how deflation, and sound money, strips the false elites of this power. Bitcoin isn’t a new player, Bitcoin is a whole new game. Today we have a Guy’s Take follow-up to Hulsmann’s great work, and a conversation on how Bitcoin could bring down the state.
Other Episodes & Works mentioned in today’s show:
Jorg Guido Hulsmann’s, Deflation & Liberty
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_278—Deflation–Liberty-Part-1-e4q6gc
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_279—Deflation–Liberty-Part-2-e4qpvp
Conner Brown’s, Bitcoin Has No Intrinsic Value
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_249—Bitcoin-Has-No-Intrinsic-Value—Thats-Great-e43bcm
Simon Lutz’s, Keynesian Errors on Time and Demand
https://medium.com/coinmonks/bitcoin-has-no-intrinsic-value-and-thats-great-e6994adbfe0f
Thomas Sowell’s, Applied Economics: Thinking Beyond Stage One
https://www.amazon.com/Applied-Economics-Thinking-Beyond-Stage/dp/0465003451
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