Read_777 – The Inevitable Bust
“The recurring cycle of economic booms followed by inevitable busts has remained a puzzle for generations of observers. While mainstream Keynesian and monetarist theories propose monetary interventions to smooth these fluctuations, the Austrian School offers a compelling and alternative perspective”
~ Michael Matulef
The bust will not be escaped. We cannot print our way out of it, we cannot cover it up with more artificial interest rate controls. We have drunken ourselves into an economic and financial stuper for far too long, we have avoided the hangover with another massive bender decade after decade – so long that we’ve lost sight entirely of the purpose of investment, the culture of sustainable capital, and the very reason for frugality and sustainable savings. The crash will hurt, but its the *solution*, not the problem.
Find out why in today’s excellent article by first time author on Bitcoin Audible, Michael Matulef: The Inevitable Bust: Why Economic Booms Contain the Seeds of Their Own Destruction | Mises Wire. (Link: https://tinyurl.com/3zsw982z)
Guest Links
Michael Matulef on X – Link: https://twitter.com/MichaelMatulef
Michael Matulef on Nostr – Link: https://tinyurl.com/3s88xfwe
Micheal Matulef on Mises Institute – Link: https://tinyurl.com/3wmyk8rd
Books Mentioned
Broken Money by Lyn Alden – Link: https://tinyurl.com/mvu8jm7c
Price of Tomorrow by Jeff Booth – Link: https://tinyurl.com/bde45j95
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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Ai Read_001 – A Gentle Introduction to Large Language Models
“Our first instinct when interacting with a Large Language Model should not be “wow these things must be really smart or really creative or really understanding”. Our first instinct should be “I’ve probably asked it to do something that it has seen bits and pieces of before”. That might mean it is still really useful, even if it isn’t “thinking really hard” or “doing some really sophisticated reasoning”. We don’t have to use anthropomorphization to understand what it is doing to provide us a response.”
~ Mark Riedl
Today we dive into a great piece from Mark Riedl attempting to demystify ChatGPT and large language models. Are they thinking? do they understand reason? Can we even understand what is happening inside these intelligent machines or have we created something we cannot control?
What if the truth is far simpler, and actually easy to understand? And we can cut through all the hype, fear, and confusion, to get at the heart of what this technology really is, and what an incredible tool it can be.
Don’t miss this incredible piece.
Check out the original article – and drop tons of applause – at A Very Gentle Introduction to Large Language Models without the Hype | by Mark Riedl | Medium (Link: https://tinyurl.com/2wm4nmeu)
Guest Links
Mark Riedl on X (Link:https://twitter.com/mark_riedl)
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_776 – Banks Without Bankers
“Unique to the emergent Bitcoin financial system is the application of cryptography to fundamental financial functions. Novel technologies exist, are being built, and have been theorized that will enable previously unseen functionalities, robustness, and, ultimately, competition amongst Bitcoin financial intermediaries. Key to these novelties is the characteristic of peer-to-peer (“P2P”) exchange; that Bitcoin financial intermediaries will surely exist as commercial options, but that newly possible direct manipulation and exchange will exist as well.”
-Eric Yakes
The future of Bitcoin remains uncertain in terms of scalability, privacy, storage, and payment applications. The application of cryptography to financial functions introduces novel technologies and potential competition among intermediaries. Can Bitcoin achieve true decentralization? Or will trusted third parties jeopardize the entire system? How will the balance between custodial and self-custodial options shape the future of Bitcoin? In Eric Yakes’ analysis, he explores the implications of the new financial paradigm we find ourselves in as Bitcoin continues to assert its dominance as an asset enabling true financial sovereignty.
Check out the original article at: Banks Without Bankers
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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
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
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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:
9% off the Coldcard with code BITCOINAUDIBLE, bitcoinaudible.com/coldcard
Check out the KYC Free, simple, no management, Bitcoin merchant solution, Nodeless.io/guy. Use my link to go to bitcoinaudible.com/nodeless and setup your donation page for free, then share it out on Nostr or Twitter and tag me, and I’ll throw 10,000 sats your way!
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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“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
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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“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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“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]
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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“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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