Read_775 – The Fed Threatens to Sue Bitcoin Magazine
“We have no interest in causing confusion, mistakes, or deception. That sounds more like a job for those responsible for telling the market they wouldn’t raise rates after a massive monetary expansion, and then went on to raise them faster than at any time in U.S. financial history.” — Mark Goodwin
Today we have a very entertaining development thanks to the fools at the Federal Reserve Bank of Chicago. Bitcoin Magazine is being threatened with a lawsuit over t-shirts they are selling that mock the FEDNOW program that the Fed states “has built up substantial goodwill” and that these shirts and merchandise will cause “confusion, mistakes, and deception.” No, this is not a parody, it appears to be real. So we pause our regularly scheduled programming today to explore this beautiful little moment in Clown World.
Check out the original article at: Bitcoin Magazine
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“He knows nothing; and he thinks he knows everything. That points clearly to a political career.” — George Bernard Shaw
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Read_774 – Bitcoin Won’t Fix the Federal Reserve
“Will Bitcoin adoption improve the monetary policy behaviors of the Federal Reserve? I submit that it won’t. I do not see the incentive for the Federal Reserve to give into anyone or anything, let alone Bitcoin. Be honest, Bitcoin is surely not big enough to be a threat to the U.S. dollar. The United States is far more concerned with U.S. dollar dominance being threatened by, say, the Chinese yuan. Bitcoin on its own has not destabilized anything.” — George Kaloudis
Will the Federal Reserve be “reigned in” thanks to Bitcoin? Will the continued success of Bitcoin’s growth and network effect mean that the Federal Reserve capitulates? That they admit the failures of their approach and start appeasing the sound money tropes and calls for austerity? George Kaloudis makes an entertaining case in today’s read, that the answer is in fact, “No.”
Check out the original article at:
https://bitcoinmagazine.com/markets/bitcoin-wont-fix-the-federal-reserve
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Bitcoin Audible – Prodcast
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“You only live once, but if you do it right, once is enough.” ― Mae West
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Read_773 – A Solution to Scaling Lightning
“Timeout Trees is a very concrete and specific proposal for a channel factory design that actually attempts to address the real issues of use and implementation instead of a half-defined and vague concept. That is massive progress in terms of addressing Lightning’s long-term scaling limitations.” — Shinobi
Today we dive into a cool proposal that takes advantage of covenants to build the first, practical implementation of a “lightning factory,” or in other words, a way to create hundreds, even thousands of lightning channels taht exist entirely off chain and require only the most minimal footprint in the cases where things go wrong. Another great piece by Shinobi breaking down the technical developments that matter.
Check out the original article at: Bitcoin Magazine
If you want to support the show and an awesome new service, check out Prodcast.io to purchase any books (and other products in the future) that i have recommended on the podcast: Bitcoin Audible – Prodcast
Check out our amazing sponsors who make this show possible:
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“To believe in something, and not to live it, is dishonest.” ― Mahatma Gandhi
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Read_772 – Easier Way to Bootstrap the UTXO Set
“After four years of work, James O’Beirne’s assumeutxo option to allow instant UTXO set bootstrapping for your Bitcoin node is merged into Bitcoin Core.” — Shinobi
There has always been a gap between the sovereignty, privacy, and security of software, and the usability of it. But thanks to an enormous amount of work and brilliant developers, day by day that gap is getting smaller. Where the most secure tools, the most robust node setups, the non-custodial options, are getting easier, faster, and more responsive. Today we have an article by Shinobi on another seemingly small, but potentially very impactful development on bootstrapping a new node, with assumeutxo finally merged, into Bitcoin Core. If you want to know what that means, then don’t miss this episode.
Check out the original article at: Bitcoin Magazine
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“Be yourself; everyone else is already taken.” ― Oscar Wilde
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Read_771 – Beating Fiat with the Breez SDK
“There used to be tradeoffs between Lightning and fiat: UX vs. sovereignty; UX vs. speed; UX vs. cost; off-the-shelf fiat payment widgets vs. coding a node into an app. With the Breez SDK, Lightning beats fiat across the board. It’s faster to implement (as Ross says, “It’s like one or two API calls to set up a node, one to send a payment and one to receive payment”), cheaper to use, legally less complicated (check your jurisdiction), more private, and the UX is on par with fiat for the user and even better for the developers.” — Roy Sheinfeld
If you are curious what the future of lightning is going to look like, or exactly how huge the runway is for adoption and onboarding in the next bull run, then this short article detailing out a simple example will show you just how powerful the Breez SDK + Blockstream Greenlight combo really is. Non-custodial, always online, instant node setup, and zero channel or liquidity management. This is the culmination of everything built in lightning to date, and its going to be a game changer!
Check out the original article at:
Satimoto Is Beating Fiat with the Breez SDK | Breez Technology – https://medium.com/breez-technology/building-on-lightning-how-satimoto-is-beating-fiat-with-the-breez-sdk-88aa8252a994
Check out some of Roy’s other great articles covered on the podcast:
Read_701 – Lightning for Everyone in Every App
Read_574 – Lightning & The Internet – Choosing the Right Path
Read_732 – We Need More Apps With Lightning, Not More Lightning Apps
Read_450 – Getting Lightning Ready for Global Takeover
A huge thanks to our sponsors, and don’t forget to check out the offers for the listeners of this show!
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Get 50,000 free sats, plus sats back on everything you buy by signing up with Fold and the Spin+ Debit Card. bitcoinaudible.com/fold
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“It takes considerable knowledge just to realize the extent of your own ignorance.” — Thomas Sowell
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Read_770 – The Big Deal with BitVM
“It requires no consensus changes to Bitcoin at all. The trick is lifting all of that logic off-chain and being able to challenge a few steps of the computation on-chain if the other party asserts a dishonest outcome. In short, BitVM will bring arbitrary Turing-complete computation, in an enforceable way, to bitcoin itself – today.”
What if you could enforce the ownership of Bitcoin, with literally any code you could think of writing? That may just be possible, today, without any changes or soft forks to the underlying network, through a system of abstraction that cleverly, and verifiably, allows execution of completely arbitrary code within the Bitcoin script, which will determine the ultimate owner of any bitcoin balance. This, could be massive. A great piece from Shinobi explains, how and why it works…
Check out the original article at: Bitcoin Magazine
Links:
Spiderchains: A proof of stake second layer for Bitcoin
Read_734 – Introducing Ark [Burak]
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“Nobody ever figures out what life is all about, and it doesn’t matter. Explore the world. Nearly everything is really interesting if you go into it deeply enough.”
– Richard P. Feynman
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Read_Reboot – Bitcoin & Software Reliability
“With Bitcoin, lives and money are at stake. Interruption of its service can cause a cascade of losses and unintended consequences for potentially millions of people and billions of fiat dollars. If it is possible to build a Bitcoin that cannot fail, that should be the goal, and no compromise should be acceptable.” — Beautyon
Before we get into a Guy’a Take to continue our FUD Relief series – addressing the failures to understand the value and purpose of Bitcoin – it’s time to bring a brilliant piece back from the archive, update the audio and give some fresh commentary to set the stage for tackling another common misconception of “progress” when it comes to the bitcoin perspective. If there was a top tier of articles that are must-listens to grasp bitcoin, this would be in it. Let’s dive in.
Check out the original article at: Bitcoin and Software Reliability by Beautyon | Medium
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“The only real voyage of discovery consists not in seeking new landscapes, but in having new eyes.” — Marcel Proust
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Read_769 – Orange is the New Green
“Our existing financial system is a mirage of wealth and liquidity, sustained by an ever-expanding money supply. Bitcoin emerges as the ultimate shield against the inevitable reckoning that will shatter this illusion.”
— Theo Mogenet
Today, we dive into another great piece from Axiom BTC on the mission to reprice the world in sats. We all understand the incredible benefit of Bitcoin as a long term store of value, and that’s its monetary properties give it unique capacity for long term savings. However, too often we hear it is a disaster for short term cash balances. What if this wasn’t true? What if there was a possible path to Bitcoin, actually being the *best* short term cash equivalent on a global scale, even *despite* it’s volatility? If that intrigues you, don’t miss this piece.
Check out the original article at:
Orange Is The New Green — Axiom
Links:
Read_750 – Capital in the 21st Century [Allen Farrington]
Chat_80 – Building the Ark with Burak
A huge thanks to our sponsors, and don’t forget to check out the offers for the listeners of this show!
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Get 50,000 free sats, plus sats back on everything you buy by signing up with Fold and the Spin+ Debit Card. bitcoinaudible.com/fold
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Read_768 – Living Through the Fall of Rome
“Today historians focus on the symptoms of Rome’s fall, the consequences: The moral decay, the economic decline, the fall in public safety, the multiplying plagues from dysfunctional public services, the hollowed-out military that ultimately invited barbarian invasions. But we know these well – in fact we’re living through many of them. What’s a lot more interesting is the why. Because that’s how you stop it.” — Peter St. Onge
Are we living through the Fall of Rome? There are so many parallels with the United States empire today and the Roman Empire of so long ago that its hard to ignore. It’s difficult to not think we will see the same fate when we experience so many of the same symptoms, with all of the same underlying causes. But do we have a way out? Is there an alternative? Peter breaks it down for us in another great piece, don’t miss it.
Check out the original article and Peter’s amazing newsletter at: Are we Living the Fall of Rome? – Peter St Onge, Ph.D.
Check out the other great episodes and resources discussed in the commentary:
Chat_81 – An Austrian View of US Collapse with Peter St. Onge – Bitcoin Audible | Podcast on Spotify
Read_602 – Bitcoin’s Peaceful Revolution, A New Hope for Humanity [Peter St Onge – Bitcoin Audible | Podcast on Spotify
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Read_767 – Pay Me in Bitcoin Theory
“If the merchant wants the bitcoin and you pay in fiat_, that is you shifting the burden of fiat friction on to them. And paying your valued vendors in bitcoin is the opposite of mutually assured destruction–it’s mutually assured survival.” — Parker Lewis
Ultimately, the decision to accept Bitcoin as payment will be driven by the fact that those merchants understand the value of Bitcoin and why it is expected to store value into the future. What does that mean for how we think about finding our way to a Bitcoin future? Parker Lewis is back with another great piece, on the “Pay Me In Bitcoin Theory.”
Check out the original article at: Pay Me in Bitcoin Theory
The playlist to the entire Gradually, Then Suddenly series in audio: Gradually, Then Suddenly Series – playlist by Guy | Spotify
Another great piece suggested in the commentary: Read_724 – The Virtue of Selfishness – The Objectivist Ethic [Ayn Rand] – Bitcoin Audible | Podcast on Spotify.
Check out our awesome sponsors at the links below:
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Get 50,000 free sats, plus sats back on everything you buy by signing up with Fold and the Spin+ Debit Card. bitcoinaudible.com/fold
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“If you want to change the world, start with yourself.” — Mahatma Ghandi
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Read_766 – Spiderchains, Proof of Stake L2
“Take the idea of proof-of-stake as a base layer consensus mechanism, and throw the idea away for right now. That’s not what this is, and the problems that need to be solved to enable proof-of-stake as a second layer system instead of a stand alone base layer are not the same. #Proof-of-stake is essentially a #federation, but where anyone can join and can’t be stopped from doing so, and with a mechanism to punish members for acting malicious. As a base layer that creates all kinds of existential issues, like the objectivity of a slashing penalty. Proof-of-stake as a second layer does not have that problem when the bonds for slashing are on the main chain, governed by proof-of-work.”
We have a new addition to the sidechain discussion with the announcement of “Spiderchains,” a novel approach to the peg in/out model. Enalbing a proof of stake system that uses the underlying Bitcoin chain as the ultimate source of time and finality. The interesting thing? Not a single change to Bitcoin is necessary to make it work, so one way or the other, it’s going to happen. Find out more…
Check out the original article at: Spiderchains, a Proof of Stake L2
Lopp’s Spiderchain Article: An Introduction to Spiderchain
Bitcoin Audible: Read 562 – Only the Strong Survive – Part 1 [Allen Farrington & Big Al]
You can support the show by checking out our sponsors!
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Get 50,000 free sats, plus sats back on everything you buy by signing up with Fold and the Spin+ Debit Card. bitcoinaudible.com/fold
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“If the doors of perception were cleansed, everything would appear to man as it is – infinite.” — William Blake
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Read_765 – “Hoarding” is a Keynesian Slur
“This has been one of the most effective psychological operations that has ever been conducted on the public in human history. The high priests of central banking started running with this narrative and people have come to believe that it is a law of physics. Economies cannot operate efficiently unless there is a steady flow of new monetary units being created and introduced to the economy. If new monetary units aren’t being created people will hoard their money and grind the economy to a halt.” — Marty Bent
Today we take another angle of attack against the absurd notion that savers are the ones grifting from society, while the counterfeiters are doing a noble service to save us from the evil, ordinary citizens who have earned money and hope to keep it.
Check out the original article and sub to Marty’s Bent at: Higher Savings Rates Are Good for the Economy
Mentioned in the take, you can find the new video Guy’s Take series on Youtube or Rumble and by following me on Nostr and Twitter.
A huge thanks to our sponsors, and don’t forget to check out the offers for the listeners of this show!
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Get 50,000 free sats, plus sats back on everything you buy by signing up with Fold and the Spin+ Debit Card. bitcoinaudible.com/fold
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“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we save means that their life will be so much the more abundant. Economy is idealism in its most practical form.” — Calvin Coolidge
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