Read – Page 13 – Bitcoin Audible

Read_803 – Inflation in a HyperBitcoinized World

“Izzy said there could be inflation in a hyperbitcoinized world. And she’s right. Calm down, maxis, calm down! Explaining why this is true sheds light on yet another of Bitcoin’s quasi-magical properties and paints our hyperbitcoinized future an even rosier shade of orange. This is good for Bitcoin.”
~ Allen Farrington

This may seem crazy, heretical even, but inflation can occur in a hyperbitcoinized world. How could that possibly be? When there’s only ever 21 million BTC? Is this nothing but fiat nonsense, or does it clarify an important distinction while at the same time revealing the absurdity of a major keynesian economic model? Listen to Allen Farrington’s 2021 piece on the topic today to find out.

Check out the original article at Inflation In A Hyperbitcoinized World (Link: http://tinyurl.com/yeyp6mk4)

Guest Links

Allen Farrington on X (Link: https://twitter.com/allenf32)

Allen Farrington Website (Link: https://www.uncerto.com/)

Host Links

Guy on Nostr (Link: http://tinyurl.com/2xc96ney)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)

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“It’s the questions we can’t answer that teach us the most. They teach us how to think. If you give a man an answer, all he gains is a little fact. But give him a question and he’ll look for his own answers.”
~ Patrick Rothfuss, The Wise Man’s Fear

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Read_802 – How Inflation Destroys Civilization

“The foregoing considerations are by no means an exhaustive account of the cultural and spiritual legacy of fiat inflation. But they should suffice to substantiate the main point: that fiat inflaiton is a powerhouse of social, economic, cultural, and spiritual destruction.”

Fiat inflation is more than a hidden tax on everyday folks—it’s the fuel for the worst parts of our system, feeding both the war monster overseas and a creeping police state at home. It fosters a culture where impulsive, harmful choices are rewarded, punishing those who live sensibly and plan for tomorrow. It’s a thief that strips us of our wealth, our values, and our spirit. Dive into today’s must-read from Jorg Guido Hulsmann at the Mises Institute, and see the society rotting symptoms of the fiat disease.

Check out Jorg Guido Hulsmann’s article:

How Inflation Destroys Civilization (Link: http://tinyurl.com/3xbzx6r5)

Don’t forgot to follow and boost on Fountain (Link: https://www.fountain.com/)

Host Links

Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)

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“Don’t pay attention to ‘authorities’, think for yourself.”
~ Richard P. Feynman

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Read_801 – To Dust You Shall Return

“During the peak transaction fee times over the past month, our example transaction would be dust even for .001 BTC. That’s a little less than $50 at current market conditions. This feels incredible. 100,000 sats suddenly turned into dust. Gone. Unusable. This is terrifying.”
~ Joe Rodgers

While we have a short respite from the crazy fees that have hit the Bitcoin world recently, there couldn’t be a more important time to discuss the cost of moving UTXOs and just how to manage your bitcoin balances so they don’t get swallowed by high fees. Have you analyzed your bitcoin balances and transactions to know where you stand? Have you consolidated your weekly purchases? Don’t let your bitcoin turn to dust, listen to today’s episode to learn how to protect yourself.

Check out the original article at To Dust You Shall Return. (Link: http://tinyurl.com/kmuw7bn9)

Links to other things mentioned in the shownotes
Bitcoin Audible – Read_791 – Rethinking Lightning (Link: http://tinyurl.com/3j8yke2d)

Guest Links

Joe Rodgers on X (Link: https://twitter.com/_joerodgers)
Joe Rodgers Website (Link: https://jrjr.meme/)

Host Links

Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)

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“The reason most people fail instead of succeed is they trade what they want most for what they want at the moment.”
~ Napoleon Bonaparte

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Read_800 – Mining Misinformation – How the UN Misrepresents Bitcoin Mining

“For too long, the world has had to endure the fallout of subpar academic research on bitcoin mining’s energy use and environmental impact. The outcome of this bullshit research has been shocking news headlines that have turned some well-meaning people into angry politicians and deranged activists. So that you never have to endure the brutality of one of these sloppy papers, I’ve sacrificed my soul to the bitcoin mining gods and performed a full-scale analysis of a study from the United Nations University, published recently in the American Geophysical Union’s Earth’s Future. Only the bravest and hardest of all bitcoin autists may proceed to the following paragraphs, the rest of you can go back to watching the price chart.”
~ Margot Paez

The battle for common sense in Bitcoin regulation and understanding of its energy use and environmental footprint may not ever be winnable, but in the course of the war on garbage research, if from time to time we get entertaining and scathing articles like this one from Margot Paez that tears apart their research… maybe it’ll all be worth it.
A major shout out to btcpolicy.org for their incredible work.

Check out the original article at Mining Misinformation: How The United Nations University Misrepresents Bitcoin’s Energy Use (Link: http://tinyurl.com/43f4ubtr)

For the other links and references shared in the angry rant following the read

The Latest United Nations Study on Bitcoin Mining is Fundamentally Flawed (Link: http://tinyurl.com/4utdzs2n)

Guest Links

Margot Paez on X (Link: https://twitter.com/jyn_urso)
Margot Paez on Linktr (Link: https://linktr.ee/jynurso)

Host Links

Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)

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“Forming your worldview by relying on the media would be like forming your view about me by looking only at a picture of my foot.”
~ Hans Rosling

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Read_799 – Nostr Wallet Connect – Bitcoin App Collaboration

“NWC is useful for far more than simply integrating Lightning into Nostr applications as well. The entire design philosophy of Nostr itself as a protocol was centered around keeping it simple enough that the entire protocol could be easily implemented correctly by any developer with minimal time and resources. Applications that have nothing to do with Nostr can easily integrate NWC or similar protocols with almost no overhead or complexity to address the underlying issues of how to connect a Bitcoin wallet with their application without having to build it directly into the app.”

What if some of the biggest improvements in security, decentralization, and the power of Bitcoin and its app ecosystem, isn’t a new OP_CODE or functionality of the bitcoin client, but instead the utilization of something completely separate? What if we can use Nostr, or other decentralized protocols, as identity and coordination layers for Bitcoin apps, so new applications can quickly and easily communicate, and connect to other devices and wallets, without the incredible overhead and complexity that this usually entails? This, is Nostr Wallet Connect.

Check out the original article at ⁠Nostr Wallet Connect: A Bitcoin Application Collaboration Layer. ⁠(Link: http://tinyurl.com/3w7fe7nf)

References in the commentary

⁠NWC.DEV – Nostr Wallet Connect⁠ (Link: https://nwc.dev/)

Guest Links

⁠Brian Trollz on X⁠ (Link: http://tinyurl.com/yksvbn7k)
⁠Brian Trollz on Bitcoin Magazine ⁠ (Link: https://bitcoinmagazine.com/authors/shinobi)

Host Links

⁠Guy on Nostr ⁠(Link: https://tinyurl.com/yc376bff)
⁠Guy on X ⁠(Link: https://twitter.com/theguyswann)
⁠Bitcoin Audible on X⁠ (Link: https://twitter.com/BitcoinAudible)

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Get ⁠9% off the COLDCARD⁠ with code BITCOINAUDIBLE ⁠⁠⁠⁠⁠⁠(Link: bitcoinaudible.com/coldcard⁠⁠⁠⁠⁠⁠)
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“It occurs to me that our survival may depend upon our talking to one another.”
~ Dan Simmons

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Read_798 – Quantum Computing’s Reality Check

The main promise of quantum computing is the ability to solve problems far faster than classical computers, but exactly how much faster varies. There are two applications where quantum algorithms appear to provide an exponential speed up, says Troyer. One is factoring large numbers, which could make it possible to break the public key encryption the internet is built on. The other is simulating quantum systems, which could have applications in chemistry and materials science.”
~ Edd Gent

Is Bitcoin destined to fall when quantum computers make their debut? Is the encryption that underpins the entire design of the system at risk this year? This decade? This century? What is the real story behind quantum computing and is there anything we can know from looking at the industry today and where it has, or has not succeeded, in living up to its many promises? Find out in today’s episode.

Check out the original article at Quantum Computing’s Hard, Cold Reality Check Hype is everywhere, skeptics say, and practical applications are still far away. (Link: http://tinyurl.com/4xsrz2y3)

References made in the show

The Debt Doesn’t Matter (Link: http://tinyurl.com/mr2msz9a)

#014 A Million New Devs with Hope TS (Link: http://tinyurl.com/tztpez55)

Guest Links

Edd Gent on X (Link: https://twitter.com/EddytheGent)

Host Links

Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)

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There is only one kind of shock worse than the totally unexpected: the expected for which one has refused to prepare.”
~ Mary Renault

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Read_797 – The Next Big Thing Will Look Like a Toy

“One of the amazing things about the internet economy is how different the list of top internet properties today looks from the list ten years ago. It wasn’t as if those former top companies were complacent – most of them acquired and built products like crazy to avoid being displaced.
The reason big new things sneak by incumbents is that the next big thing always starts out being dismissed as a “toy.”
~ Chris Dixon

Why do so many miss the biggest innovations and most revolutionary technologies sitting right in front of their eyes? Sometimes, like Bitcoin, it is such a drastic change, or solves something so fundamental, that many aren’t even aware of the problem. It simply doesn’t fit in their worldview. But far more often disruptive technologies are dismissed because they find their first footing in a small, obscure, or purely explorative niche… in other words, they get mistaken as a toy, until they change the world.

Check out the original article at The next big thing will start out looking like a toy. (Link: http://tinyurl.com/3av4vk4d)

Guest Links

Chris Dixon on X (Link: https://twitter.com/cdixon)
Read Write Own – Building the Next Era of the Internet Book (Link: https://readwriteown.com/)
Chris Dixon Website (Link: https://cdixon.org/)

Host Links

Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)

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“All big things come from small beginnings. The seed of every habit is a single, tiny decision. But as that decision is repeated, a habit sprouts and grows stronger. Roots entrench themselves and branches grow. The task of breaking a bad habit is like uprooting a powerful oak within us. And the task of building a good habit is like cultivating a delicate flower one day at a time.”
~ James Clear, Atomic Habits

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Read_796 – Stranded – How Bitcoin is Saving Wasted Energy

“One night during my visit to Bondo, Carl asked me to pause as the sunset was fading, to look at the hills around us: the lights were all turning on, all across the foothills of Mt. Mulanje. It was a powerful sight to see, and staggering to think that Bitcoin is helping to make it happen as it converts wasted energy into human progress.”
~ Alex Gladstein

Can you imagine what it may be like to lack access to the most basic necessities like electricity, only to finally have the opportunity to turn your lights on as the sun sets, due to a room of computers, hashing away for the Bitcoin network? Alex Gladstein of the Human Rights Foundation brings us another incredible piece on how Bitcoin is freeing both the persecuted people and the wasted energy on the African continent. Not in some theoretical sense or some future hypothetical scenario, but today for real people. If you listen to any articles this week, this is the one not to miss.

Check out the original article on Bitcoin Magazine: STRANDED – How Bitcoin is Saving Wasted Energy in Africa. (Link: http://tinyurl.com/357c7f3p)

Guest Links

Gladstein on X (Link: https://twitter.com/gladstein)
Gladstein on Nostr (Link: http://tinyurl.com/9mjcpj58)
HRF (Link: https://hrf.org/)

Host Links

Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)

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“Sovereignty is not given, it is taken.”
~ Mustafa Kemal Atatürk

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Read_795 – Bitcoin is Dead (Long Live IBIT)

“To put it simply, there are now corporations with billions of dollars of investment in not just the asset, but the ecosystem. Mining is a huge economic drain on the system, and all it accomplishes is censorship resistance. If censorship resistance isn’t worth tens or hundred of billions or dollar per year to the corporations; they will find a way to end it. When they do try to end it, they can point to the ETFs enduring appeal and ignore any constitutional brinkmanship from OG Bitcoiners who threaten to reject the new rules or sell their stacks.”
~ Achim Warner

Does the approval and potentially massive success of the Bitcoin ETFs in the west change the incentive dynamics of the Bitcoin system? If the BlackRock ETF becomes the dominant form of liquidity for Bitcoin purchasing among the millions of fools who do not understand or care about its value or ethos, does this open a path to remove bitcoin’s mining process completely, as censorship resistance becomes nothing more than an arbitrary cost? Is this the inevitable end for Bitcoin given a long enough amount of time for the ideology that protected it to be watered down, until it is unrecognizable?
Find out in today’s read and the Guy’s Take to follow

Check out the original article at Bitcoin is dead (long live IBIT) by Achim Warner. (Link: http://tinyurl.com/2xresf8y)

Guest Link

Achim Warner on X (Link: https://twitter.com/AchimWar)

Host Links

Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)

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“The first principle is that you must not fool yourself, and you are the easiest person to fool.”
~ Richard P Feynman

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Read_794 – Open Letter To Prospective ETF Buyers

“Bitcoin enables perhaps the most powerful mode of ownership ever devised; it would be akin to gold inside a safe that can’t be penetrated with all the energy the universe, and with a password that you know but which could not be guessed over the entire lifetime of the universe.”
~ Allen Farrington

What if buying an ETF of Bitcoin, is contradictory to the very investment thesis of Bitcoin itself. Knowing the investment thesis for bitcoin, should entail the understanding that bitcoin’s value proposition is undermined by the very notion of holding a credit instrument in its place. Farrington breaks down a few of the reasons why in this excellent, short letter to those considering a purchase of the newly approved bitcoin ETFs.

Check out the original article at An Open Letter to Prospective Buyers of a Bitcoin ETF. (Link: http://tinyurl.com/ykktptk4)

References from the show:

Shelling Out: The Origins of Money | Satoshi Nakamoto Institute (Link: http://tinyurl.com/4r8ynwtf)

Read – Capital in the 21st century. (Link: http://tinyurl.com/4k4vcz99)

Read – Orange is the New Green (Link: http://tinyurl.com/bdebpcur)

Read – Banks without Bankers (Link: http://tinyurl.com/2vjtmrcn)

Bitcoin is Venice: Essays on the Past and Future of Capitalism by Allen Farrington, Sacha Meyers, Guy Swann. (Link: http://tinyurl.com/yrj6k3cm)

The Lightning Network Reference Rate by Nik Bhatia. (Link: http://tinyurl.com/mr3cmrtr)

The LINER Index: How Amboss is Shaping a More Inclusive Future for Finance by Amboss Technologies. (Link: http://tinyurl.com/yk7f2zhu)

Guest Links

Allen Farrington on X (Link: https://twitter.com/allenf32)

Allen Farrington Website (Link: https://www.uncerto.com/)

Host Links

Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)

Check out our awesome sponsors!

Get 9% off the COLDCARD with code BITCOINAUDIBLE ⁠⁠⁠⁠⁠⁠(Link: bitcoinaudible.com/coldcard⁠⁠⁠⁠⁠⁠)
Swan: The best way to buy, learn, and earn #Bitcoin (Link: http…

Ai Read_004 – Building a Language Model (Part 2)

“It’s important to step outside of the hype and critically-analyze what is and is not useful. It’s very easy to get caught up in “potential” applications, and allow the imagination to go all exponential on you. It’s a very human thing. Turning that imagination into something tangible is what a business and an entrepreneur does. It’s our hope this report will be useful along that path.”
~ Alek Svetski

Today we dive into Part 2 of the Bitcoin & Ai Industry Report to learn the intricacies and challenges of building an Ai model from scratch! We delve deep into the process, discussing the complexities of data collection, transformation, and the critical integration of human feedback.
Then to complete it, we take that knowledge to address many of the AI myths and misconceptions. Will AI replace humans? Is it going to take my job? Can I train my own AI? Is AGI around the corner? And much more! This is such a great episode for those who want to know and understand the process, of building AI…
If you haven’t yet, listen to the first half of this incredible report here: ⁠AI Read #003 – The Nexus of Bitcoin and AI (Part 1)⁠ (Link: https://fountain.fm/episode/5LpuF0EPE3sNxJq5ZbNJ)
Check out the original article at ⁠Spirit of Satoshi ⁠(Link: https://www.spiritofsatoshi.ai/#industry-report)

Guest Links

⁠⁠Spirit of Satoshi Nostr⁠ ⁠(Link: http://tinyurl.com/5n93z9sc)
⁠⁠Spirit of Satoshi on X ⁠(Link: https://twitter.com/Spirit_Satoshi)
⁠⁠Spirit of Satoshi on LinkedIn ⁠(Link: http://tinyurl.com/yc4raxc8
⁠Spirit of Satoshi on AI⁠ (Link: http://tinyurl.com/5c29ze9t)

Host Links

⁠Guy on Nostr ⁠(Link: http://tinyurl.com/2xc96ney)
⁠Guy on X ⁠(Link: https://twitter.com/theguyswann)
Guy on Instagram (Link: https://www.instagram.com/theguyswann)
Guy on TikTok (Link: https://www.tiktok.com/@theguyswann)
Guy on YouTube (Link: https://www.youtube.com/@theguyswann)
⁠Bitcoin Audible on X⁠ (Link: https://twitter.com/BitcoinAudible)
The Guy Swann Network Broadcast Room on Keet (Link: https://tinyurl.com/3na6v839)

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Read_793 – How DigiCash Blew Everything

“Retrospectively, a lot of ex-DigiCash employees understand why Chaum was so paranoid. As a cryptographer you have to assume the whole world is trying to rip you off. A certain amount of paranoia is part of the job. Chaum had also worked for intelligence agencies, and that didn’t fortify his faith in the good intentions of humankind. His vision of the privacy of the individual was almost an obsession. In 1996 he said, in the relations magazine of Honeywell-Bull: “The difference between a bad electronic cash system and well-developed digital cash will determine whether we will have a dictatorship or a real democracy.”
~ NEXT Magazine, 1999

Today’s story unfolds around the rise and fall of DigiCash, a pioneering company in digital currency from the 90s. It delves into the paradox of its founder, David Chaum, a visionary yet paranoid cryptographer, whose brilliance in cryptography was overshadowed by his poor business acumen and inability to delegate. This leads to a compelling question: How did DigiCash, despite its advanced technology and potential to revolutionize digital payments, fail and how would the past have been different if it hadn’t?
This is an amazing blast from the past with many lessons to learn, don’t miss the article and the Guy’s Take to follow!

Check out the original article at How DigiCash Blew Everything. (Link: http://tinyurl.com/2s37ew47)

Host Links

Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)

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“The most effective way to destroy people is to deny and obliterate their own understanding of their history.”
~ George Orwell

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Category: Read