Read_427 – The Lightning Paradox [Alex B]
“The Jevons paradox is a staple of environmental economics used to describe how the introduction of more efficient technologies tends to increase the consumption of resources rather than decrease it.” – Alex B.
Will Lightning steal fees from Bitcoin miners and threaten the security of Bitcoin into the future? Or will is be the aggregation layer that enables so many additional and higher value use cases for Bitcoin block space, that it may be the very thing necessary to enable the fee growth needed to sustain Bitcoin indefinitely? An excellent piece read today from Alex B…
The Lightning Paradox:
https://medium.com/@bergealex4/the-lightning-paradox-f15ce0e8e374
Don’t let your grandchildren hate you! Stack sats for the long term with a reliable, auto buy savings plan, and get $10 FREE to start at SwanBitcoin.com/guy
The other thing to immunize yourself against your future grandchildrens’ menacing hatred is to tell everyone you know about Bitcoin Audible, and send them on their journey down the rabbit hole!
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Read_426 – Discovering Bitcoin #3 Introducing Money [Giacomo Zucco]
“The goods that fare better in hardness, scaleness and darkness will compete, and the first one to reach a critical mass will start swallowing the others, as far as monetary uses are concerned.” – Giacomo Zucco
Continuing with the excellent series from Giacomo and Bitcoin Magazine, “Discovering Bitcoin: From Cavemen to the Lightning Network,” we dive into Part 3 – Introducing Money. Building of the base concepts of savings in order to acquire time, of durability in a good to store that time, to investment in order to create greater productivity, and then to exchange and specialization, we finally introduce the ultimate good enabling cooperation on a massive scale, Money.
Listen to Parts 1-2 if you haven’t yet to get a foundation for this piece:
Part 1 – About Time: https://anchor.fm/thecryptoconomy/episodes/Read_422—Discovering-Bitcoin—From-Cavemen-to-Lightning–Part-1-Giacomo-Zucco-ehdkrb
Part 2 – About People: https://anchor.fm/thecryptoconomy/episodes/Read_424—Discovering-Bitcoin-2—About-People-Giacomo-Zucco-ehgquv
Other essential reads mentioned in the Guy’s Take section for going deeper down the rabbit hole on the nature & origins of money:
Shelling Out: The Origins of Money [Nick Szabo]
Money, Blockchains, & Social Scalability [Nick Szabo]
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A huge thank you to BitcoinMagazine for making these available and to the Let’s Talk Bitcoin Network for sharing this out to Bitcoiners everywhere!
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Read_425 – If You Only Read One Thing Before Buying Bitcoin… [Sylvain Saurel]
“By buying Bitcoin, you are not making a mistake. But if you buy Bitcoin and stop there after your first purchase, you’re making a mistake.” – Sylvain Saurel
A great introduction into Bitcoin by Sylvain that hits the most important rules you need to know before opening the door to the rabbit hole. The monetary system we know is a system the induces inequality and poverty, greed is your enemy, altcoins miss the entire point, not your keys – not your bitcoins, & this will change your life. Today we read, “If You Only Read One Thing Before Buying Bitcoin, Read These Few Lines.”
Link to the original article below! Don’t forget to drop some applause:
https://medium.com/in-bitcoin-we-trust/if-you-only-read-one-thing-before-buying-bitcoin-read-these-few-lines-221cd66235b
Mentioned in the read as another essential piece to explore is Breedlove’s “Masters & Slaves of Money”:
Part 1 – https://anchor.fm/thecryptoconomy/episodes/Read_414—Masters–Slaves-of-Money—Part-1-Robert-Breedlove-egd95h
Part 2 – https://anchor.fm/thecryptoconomy/episodes/Read_415—Masters–Slaves-of-Money—Part-2-Robert-Breedlove-egelgs
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Read_424 – Discovering Bitcoin #2 – About People [Giacomo Zucco]
“it clearly involves moral, political and ethical aspects, like the importance of privacy as a human right. I will use the term “darkness” to address this attribute.” – Giacomo Zucco
Continuing the series from Giacomo and Bitcoin Magazine on Discovering Bitcoin: From Cavemen to the Lightning Network. An excellent series with Part 2 working into the concept of specialization and finding those goods that can securely hold value and enable exchange at a new level. If you are new to Bitcoin, this series is a great place to start!
Part 1:
https://anchor.fm/thecryptoconomy/episodes/Read_422—Discovering-Bitcoin—From-Cavemen-to-Lightning–Part-1-Giacomo-Zucco-ehdkrb
I, Pencil – by Leonard Reed
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_123—I–Pencil-Leonard-E–Read-e2ndqm
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Much love to the Let’s Talk Bitcoin Network! Don’t forget to follow them on Twitter and check out the other great shows on the network.
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Read_423 – 3 Reasons I’m Investing in Bitcoin [Lyn Alden]
“If a few percentage points of a portfolio are allocated to it, there is a limited risk of loss… On the other hand, it’s not out of the question for Bitcoin to triple, quadruple, or have a potential moonshot price action from current levels” – Lyn Alden
An excellent article from investment advisor Lyn Alden who has recently become bullish on Bitcoin, both in the immediate future, and possibly for the long term. Breaking down the nature of Bitcoin’s scarcity, the strengthening network effect, the growing security and trust, and the macro environment that could make it an important part of the global financial sphere, we read Alden’s excellent post title “3 Reasons I’m Investing in Bitcoin.”
Check out the original and the numerous charts that reinforce her position, not to mention tons of other great reading at her blog blow:
https://www.lynalden.com/invest-in-bitcoin/
For a popular and interactive view of the Stock-to-Flow price model visit:
digitalik.net/btc
And of course start your long term positioning into Bitcoin today at SwanBitcoin.com/Guy and get $10 free to start off. Dollar cost average and stack sats the best way out there.
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Read_422 – Discovering Bitcoin – From Cavemen to Lightning, Part #1 [Giacomo Zucco]
“In order to be useful for this kind of process, a good must possess a good “hardness”: Any unit of said good should not significantly lose its ability to provide utility if stored over some period of time.” – Giacomo Zucco
Beginning an excellent introductory series into the ideas behind Bitcoin from the broadest spectrum available, taking us through the history of value from Cavemen all the way to the Lightning Network. Today we cover the introduction and part 1 of Discovering Bitcoin by Giacomo Zucco
Check out the original articles at Bitcoin Magazine:
https://bitcoinmagazine.com/articles/discovering-bitcoin-a-brief-overview-from-cavemen-to-the-lightning-network
https://bitcoinmagazine.com/articles/discovering-bitcoin-part-1-time
Don’t forget to start your long term Bitcoin savings at SwanBitcoin.com/Guy
For more great shows from the Let’s Talk Bitcoin Network, check it out below:
https://letstalkbitcoin.com/
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Read_421 – Lightning as a Retail Payment System [Nicolas Burtey]
“Privacy is at the root of Lightning which is a requirement for a retail payment network to succeed. It builds on Bitcoin which does not optimize for privacy⁵ but transparency and robustness.” – Nicolas Burtey & Chris Hunter
As excellent piece today from the Galoy Money team that compares the current world of retail payment infrastructure with the incredible potential of a similarly architected, but fundamentally more open, permissionless, private, and censorship resistant payments system built with the Bitcoin & Lightning protocol stack. An excellent piece with a sobering, but hugely bullish vision of a Bitcoin future.
Check out the original and drop some massive applause for this piece at the link below:
https://medium.com/galoymoney/lightning-as-a-retail-payment-system-part-1-7463c46342ef
Start your stacking if you haven’t! The train is leaving the station! swanbitcoin.com/guy will get you $10 free to start, and set your auto-purchase Bitcoin savings plan in motion. Set it and forget it.
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Read_420 – BIP 9, 8, or MSFA, How Bitcoin Could Upgrade Next [Aaron Van Wirdum]
“This risk is probably best countered by offering enough time to upgrade. Unfortunately, not everyone agrees on how much time is enough; some think forced signaling could start within a year, others believe it should take several years.” – Aaron Van Wirdum
Taproot is here! Now just how the hell do we decide to do the upgrade? Aaron Van Wirdum brings us another great piece at Bitcoin Magazine on the varied discussions on how to implement a Bitcoin soft fork in the post-SegWit days. Do we have PTSD, or are we ready for another leap in the Bitcoin protocol?
Check out the original at Bitcoin Magazine:
https://bitcoinmagazine.com/articles/taproot-coming-what-it-and-how-it-will-benefit-bitcoin
For further reading/listening on Segwit, Taproot, Schnorr, & more, check out these other awesome articles below:
Taproot is Coming
• https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_318—Taproot-is-Coming-Aaron-van-Wirdum-e8um0c
The Long Road to Segwit
• https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_054—The-Long-Road-To-Segwit-e2ndsv
Schnorr Signatures & The Inevitability of Privacy
• https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_226—Schnorr-Signatures–The-Inevitability-of-Privacy-in-Bitcoin-Lucas-Nuzzi-e3jfhi
Paying Yourself for Privacy on Lightning
• https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_352—Paying-Yourself-for-Privacy-on-Lightning—Aaron-Van-Wirdum-eaq2go
Simplifying Lightning with the “No Input” Class
• https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_297—Simplifying-Lightning–The-Noinput-Class-Aaron-Van-Wirdum-e5fhoa
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Read_419 – Twitter Hack & The Need for a User-Owned Internet [Nic Carter]
“Trusted third parties are security holes” isn’t just a slogan; it’s a concept that millions of people will have intuitively grasped for the first time yesterday.” – Nic Carter
I’m sure you’ve heard about the insane social media takeover by a hacker looking to make a little Bitcoin by now. Nic Carter writes an op-ed on Coindesk breaking down his take on the event and how it calls attention to the huge problems of centralization on the web and social media, and what the possible solutions might look like. Will this finally push massive change in online security, or will it be quickly forgotten like the many hacks before it?
Original article as well as links to some other fascinating reads by Nic below:
https://www.coindesk.com/after-twitter-hack-we-need-user-owned-internet-more-than-ever
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Read_418 – Bitcoin, More Than An Inflation Hedge [Nick Neuman]
“Bitcoin’s capped supply is one of its most well-known features, and it is regularly cited as a hedge against inflation caused by government money printing.
Most people don’t know that Bitcoin has another attribute that acts as a hedge against a far larger risk.” – Nick Neuman
Today we read a short article on BitcoinMagazine that shines light an incredible benefit of the Bitcoin system that isn’t so widely understood. It isn’t simply an independent monetary policy, its an independent monetary *system,* and by that fact a hedge against the instability of much more than merely inflation. Listen to today’s episode to find out more!
Link to the original with tons more to explore from the author and recent articles at Bitcoin Magazine:
https://bitcoinmagazine.com/articles/bitcoin-more-than-an-inflation-hedge
Mentioned, The Yield from Money Held by Hans Hoppe:
Read: https://mises.org/library/yield-money-held-reconsidered#:~:text=According%20to%20Keynes%2C%20the%20government,stimulate%20both%20consumption%20and%20investment.
Listen: https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_122—The-Yield-From-Money-Held-Reconsidered-e2ndqn
A huge thanks to LTBN, Bitcoin Magazine, and of course Swan Bitcoin! Start your auto stacking of sats and get $10 free at SwanBitcoin.com/Guy
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Read_417 – On Schelling Points, Network Effects, & Lindy [Willem Van Den Bergh]
“This rationale also completely demolishes the “blockchain not Bitcoin” mantra as the Schelling point is purely based on bitcoin the money, not blockchain the technology.” – Willem Van Den Bergh
Why do communication protocols tend towards monopoly? What is it in the nature of networks that lends dominance in a single medium, in the way VHS killed the very existence of BetaMax, how Blu-ray pushed HD-DVD into obscurity? What can Schelling Points, the Lindy Effects, and what we know about networks inform us about these unique systems, and do they demonstrate the limits of free markets? Don’t miss this incredible piece from Willem “On Schelling Points, Network Effects, & Lindy.”
https://medium.com/@willemvandenbergh_85885/on-schelling-points-network-effects-and-lindy-inherent-properties-of-communication-c4eb69b55c60
A great listen to accompany this one is Nick Szabo’s “Shelling Out”:
https://anchor.fm/thecryptoconomy/episodes/Reboot—Shelling-Out-The-Origins-of-Money-Nick-Szabo-e9omme
Sleep comfortably tonight, stack sats automatically with the lowest hassle, lowest cost Bitcoin savings plan. SwanBitcoin.com/guy
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Read_416 – The Root of Money? [Atlas Shrugged]
“Rearden heard Bertram Scudder, outside the group, say to a girl who made some sound of indignation, “Don’t let him disturb you. You know, money is the root of all evil – and he’s the typical product of money.”
Rearden did not think that Francisco could have heard it, but he saw Francisco turning to them with a gravely courteous smile…” – Ayn Rand
Reading the famous speech by character Francisco D’Anconia in the novel “Atlas Shrugged” on the root of all money. This one had a profound effect on my understanding of economics and money in the beginning of my journey down the rabbit hole, that ultimately led me to Bitcoin. Enjoy.
Use swanbitcoin.com/guy for sound money.
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