Read_557 – The Stairway to Omnipresence [DerGigi]
“the fact that bitcoin is now legal tender in a country is absolutely astonishing. Yesterday, some nerds discovered a system that allows magic internet money to emerge by sending messages back and forth. Today, a country decided to adopt this system as their currency” – DerGigi
Today we cover an excellent little piece from DerGigi that takes a step back and puts the news of legal tender in El Salvador into perspective. This isn’t just another bullet point, this is a key step in the realization of a global, open monetary system. This is a major more toward a Bitcoin Standard. Listen to find out more.
Check out all the incredible work by DerGigi and follow him at DerGigi.com:
https://dergigi.com/2021/09/09/moving-towards-a-bitcoin-standard/
Plus the threads covered in the Guy’s Take from BitcoinBeach linked below:
https://twitter.com/Bitcoinbeach/status/1434520062208118785?s=20
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Read_556 – Bitcoin Has Already Won [Akarsh Nalawade]
“There has never been a more secure, scarce, valuable, transportable, decentralized and networked asset in all of humanity’s history. It’s more mobile than gold. It appreciates faster than property. It’s supply is fixed unlike stocks and bonds. It’s payment network is faster and cheaper than Visa’s” – Akarsh Nalawade
With Lightning exploding on the scene and becoming the default means of interaction with the Bitcoin system, legal tender going live in El Salvador, the massive hash rate migration, and so much more, Bitcoin is becoming the impossible to ignore. Lindy in full display, Bitcoin may be doing more than simply winning, it may have already won. First time author Akarsh brings us a fun, short piece making the case that the battle is already over, we are simply waiting for the dust to settle.
Check out the original piece on Medium and the other works by Akarsh at the link below:
https://akarshnalawade01.medium.com/bitcoin-has-already-won-ea028936f016
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Read_555 – The Bitcoin Energy Debate & the Gold Resource Cost Debate [Nic Carter]
“Long before we had the Bitcoin energy debate, we had the gold resource cost debate. The contours were similar: the costs associated with gold refining and extraction were a waste; they were too great relative to a mere fiat standard in which notes could be printed for virtually nothing.” – Nic Carter
Great piece today from Nic Carter published on Bitcoin Magazine. The energy cost debate of Bitcoin might not be quite what it seems to be. And we can take a lesson from history by understanding the long, ongoing debate about the resource costs of the Gold standard.
Check out the original article at the link below, plus tons of great stuff from Bitcoin Magazine:
https://bitcoinmagazine.com/culture/bitcoin-and-gold-energy-debate
Don’t forget to check out our awesome sponsors!
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Read_554 – Finding Financial Freedom in Afghanistan [Alex Gladstein]
“Farzan and her family traveled by foot, car and train thousands of miles through Iran and Turkey, finally making it to Germany in 2017. Along the way, dishonest middlemen and common thieves stole everything they brought with them, including their jewelry and cash. At one point, their boat crashed, and more belongings sank to the bottom of the Mediterranean. It’s a tragic story familiar to so many refugees. But in this case, something was different. Through it all, Farzan was able to keep her bitcoin, because she hid the seed to her Bitcoin wallet on a piece of tiny, innocuous-looking paper. Thieves could not take what they could not find.” – Alex Gladstein
You don’t want to miss another excellent piece in the incredible ongoing works by Alex Gladstein. Thanks to Bitcoin Magazine for this incredible work and continuing to put out so much incredible stuff for the Bitcoin space!
Check out the article below for links to dig further and a huge collection of other excellent works at Bitcoin Magazine:
https://bitcoinmagazine.com/culture/bitcoin-financial-freedom-in-afghanistan
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Read_553 – Bitcoin’s “Naive” Monetary Policy [Natasha Che]
“Bitcoin fails as a money b/c of its naive monetary policy. Many people think government printing too much is evil, so a fixed money supply must be good. The reality: a money that cannot expand would crush the economy and put us all in poverty. Here’s why and how to fix it.” – Natasha Che
Today we have a fun one to go through. A twitter thread by Natasha Che who was eager to explain why Bitcoin’s monetary policy would ultimately lead to economic destitution and poverty. A prime example of “I’ve just discovered Bitcoin, and I’m here to fix it.” Is any of her theory correct? Or does she base her entire theory upon false assumptions about money?
Find the entire thread and comments at the link below:
https://twitter.com/RealNatashaChe/status/1428431581077667842
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Read_552 – Inside Cuba’s Bitcoin Revolution [Alex Gladstein]
“This technology goes around blockades and government restrictions, it allows you to move value without trusting anyone, it connects you to the world, and it allows you to empower yourself and do things that are otherwise impossible,” he said. “It has created hope for those who want change.”
Today Alex Gladstein takes us on another Bitcoin journey around the world, this time to Cuba. A communist regime where dissent is illegal, where 70% of the value of the currency is stolen by the government in the official conversion, & where the chance to accumulate wealth and engage in trade is a privilege for the few. With Bitcoin and internet finding their way to this lost country, a chance for a better future may be on the horizon. Don’t miss another incredible piece from Gladstein & Bitcoin Magazine.
Check out the original at Bitcoin Magazine, plus the other amazing works recently published over there at the link below:
https://bitcoinmagazine.com/culture/cubas-bitcoin-revolution
Don’t forget to check out our awesome sponsors!
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And secure your Bitcoin future by starting your automatic savings plan at SwanBitcoin.com/guy
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Read_551 – I Tried Hacking Bitcoin, and I Failed [Dan Kaminsky]
“By all extant metrics in security system review, this system should have failed instantaneously, at every possible layer.
And, to be fair, it has failed at other layers – BitCoin thefts have occurred, in the meta-code that surrounds the core technology itself.
But the core technology actually works, and has continued to work, to a degree not everyone predicted. Time to enjoy being wrong. What the heck is going on here?” – Dan Kaminsky
Today we read an excellent blast from the past by legend Dan Kaminsky who saw Bitcoin as an inevitable disaster that he couldn’t wait to tear apart, only to be stopped at every tactic he used by code that “simply knew better.” We lost Dan this past year from complications due to diabetes, and it’s sad to lose such a major contributor to the security of the internet. RIP Dan, your contributions won’t be forgotten.
I Tried Hacking Bitcoin And I Failed:
https://www.businessinsider.com/dan-kaminsky-highlights-flaws-bitcoin-2013-4
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Read_550 – Bitcoin’s Energy Use isn’t a Problem, Here’s Why [Lyn Alden]
“And it’s easier to sensationalize things for pageviews or political gain. For example, it’s commonly said that the Bitcoin network uses more energy than some countries. That’s true, but then so does Google, Youtube, Netflix, Facebook, Amazon, the cruise industry, Christmas lights, household drying machines, private jets, the zinc industry, and basically any other sizable platform or industry. From that list, Bitcoin’s energy usage is the closest to that of the cruise industry’s energy usage, but bitcoins are used by more people, and the network scales far better.” – Lyn Alden
Today we read an amazing and comprehensive view of the entire argument around Bitcoin and energy with all of the fallacies and misunderstandings. Is Bitcoin’s energy use really a problem? Find out!
Check out the full article with tons of extra to help visualize the arguments and explore further at the Swan Bitcoin blog:
https://www.swanbitcoin.com/bitcoins-energy-usage-is-not-a-problem-heres-why-by-lyn-alden/
Don’t forget your goodies from our awesome sponsors!
5% off the BitBox02 with code “GUY,” your bank grade digital vault for your Bitcoin keys from Shiftcrypto.ch
And secure your Bitcoin future by starting your automatic savings plan at SwanBitcoin.com/guy
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Read_549 – Fiat Lux: The Origins of Modern Money [HeavilyArmedClown]
The word “fiat” is growing more aggrandized in the modern lexicon, however, despite its increasing popularity it is often ill defined or misused. I regularly observe people falsely call Bitcoin a fiat currency. This is thanks, not least of all, to the layman’s poor grasp of history and money. Fiat is of Latin origin, meaning authoritative sanction; a decree, command or order. Fiat does not mean “backed by nothing” or “redeemable for nothing” or “pegged to nothing.” – HAC
A walk through the history of monetary expansion, the constant, and inevitable consequences, and how Bitcoin is set to change the fundamental flaw through which such manipulation is even possible. We are entering a new world. Are you ready?
Some other links to check out!
• Fiat Lux: The Origins of Modern Money: https://heavilyarmedclown.medium.com/fiat-lux-the-origins-of-modern-money-469dbc47567b
• WTF Happened in 1971?: https://wtfhappenedin1971.com/
• History of Money and Banking in the United States: https://cdn.mises.org/History%20of%20Money%20and%20Banking%20in%20the%20United%20States%20The%20Colonial%20Era%20to%20World%20War%20II_2.pdf
• What Bitcoin Did: https://www.whatbitcoindid.com/podcast/wtf-is-happening-in-2020
Check out tons of other great works & discussion at BitcoinAudible.com! Search the library for any topic or work you would like to hear, including other great pieces from Erik Cason.
Don’t forget your goodies from our awesome sponsors!
5% off the BitBox02 with code “GUY,” your bank grade digital vault for your Bitcoin keys from Shiftcrypto.ch
And secure your Bitcoin future by starting your automatic savings plan at SwanBitcoin.com/guy
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Read_548 – This is Not a Drill! [Jake Chervinsky]
“Here’s the deal with the US infrastructure bill: A new provision has been added that expands the Tax Code’s definition of “broker” to capture nearly everyone in crypto, including non-custodial actors like miners, forcing them all to KYC users.
This is not a drill” – Jake Chervinsky
The government is trying to sneak in an incredibly arduous and expansive redefinition of the tax code that could be interpreted as so broad to essentially encompass every computer and piece of software running in the Bitcoin industry. This will be a disaster for the open monetary network within the United States. Today we read a great thread breaking down the issue from Jake Chervinsky and talk at length about what we can do.
Take a short time to call your senator or representative or use the resist.bot to automatically send an email at the below links:
guyswann.com/senator
guyswann.com/representative
guyswann.com/resist
Check out tons of other great works & discussion at BitcoinAudible.com! Search the library for any topic or work you would like to hear, including other great pieces from Erik Cason.
Don’t forget your goodies from our awesome sponsors!
5% off the BitBox02 with code “GUY,” your bank grade digital vault for your Bitcoin keys from Shiftcrypto.ch
And secure your Bitcoin future by starting your automatic savings plan at SwanBitcoin.com/guy
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Read_547 – Scaling Lightning: To El Zonte… and Beyond! [Roy Sheinfeld]
“Many tellings of El Salvador’s story have largely overlooked and understated the role of the Lightning Network. But make no mistake: any country could have adopted bitcoin five or eight years ago. The base layer hasn’t changed much. The new ingredient, the innovation that has made this possible and is opening up all kinds of possibilities for the future, is Lightning.” – Roy Sheinfeld
Today we dive back into Lightning in another excellent article from Breez Tech founder Roy Sheinfeld exploring how Lightning has brought us to today, and how to scale it to the entire world. Even though it’s often thought of as a part of the background regarding the recent El Salvador announcement, to the contrary, it’s truly at the center of everything that is happening. With a major shout out to Michael Peterson from Bitcoin beach and the Lightning proof of concept, we read Roy’s excellent article, “Scaling Lightning: To El Zonte… And Beyond!”
Link to the article for further reading and links to related services:
https://bitcoinmagazine.com/culture/scaling-lighting-el-zonte
For the best resource on news, information, essays, and education in the Bitcoin space, don’t forget to check out the incredible BitcoinMagazine and the LTBNetwork for other shows all about the developments in this ecosystem!
Check out tons of other great works & discussion at BitcoinAudible.com! Search the library for any topic or work you would like to hear, including other great pieces from Erik Cason.
Don’t forget your goodies from our awesome sponsors!
5% off the BitBox02 with code “GUY,” your bank grade digital vault for your Bitcoin keys from Shiftcrypto.ch
And secure your Bitcoin future by starting your automatic savings plan at SwanBitcoin.com/guy
Learn more about your ad choices. Visit megaphone.fm/adchoices
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Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Read_546 – Could Bitcoin Be Palestine’s Currency of Freedom? [Alex Gladstein]
“Independence is financial,” Abukhdeir told me. “If we don’t have financial freedom, nothing is going to change.” – Alex Gladstein
Another brilliant addition to the Gladstein series from Bitcoin Magazine. Gladstein has been investigating Bitcoin’s benefits for people all over the globe, those in the first world, the third, connected to the modern banking system, the entirely unbanked, those stuck under oppressive regimes, monetary colonialization, & behind walls of political tyranny. Today he takes a deep dive into Palestine and how they have ben bled dry of their capital and manufacturing base over 50 years in significant part through a monetary and banking system completely controlled by external powers. And how Bitcoin may be a spark of hope to begin changing that harsh reality.
Could Bitcoin be Palestine’s Currency of Freedom?
https://bitcoinmagazine.com/culture/can-bitcoin-bring-palestine-freedom
For the best resource on news, information, essays, and education in the Bitcoin space, don’t forget to check out the incredible BitcoinMagazine and the LTBNetwork for other shows all about the developments in this ecosystem!
Check out tons of other great works & discussion at BitcoinAudible.com! Search the library for any topic or work you would like to hear, including other great pieces from Erik Cason.
Don’t forget your goodies from our awesome sponsors!
5% off the BitBox02 with code “GUY,” your bank grade digital vault for your Bitcoin keys from Shiftcrypto.ch
And secure your Bitcoin future by starting your automatic savings plan at SwanBitcoin.com/guy
Learn more about your ad choices. Visit megaphone.fm/adchoices
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Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
