Read – Page 46 – Bitcoin Audible

Read_441 – Bitcoin, A Novel Economic Institution by ARKinvest [Part 2]

“Instead of relying on accountants, regulators, and the government, Bitcoin relies on a global network of peers to enforce rules, shifting enforcement from manual, local, and inconsistent to automated, global, and predictable.” – Yassine Elmandjra

Finishing out the great investment thesis on Bitcoin by Yassine from ARKinvest. Now the we have broken down the 4 critical economic assurances for prosperity and how the trust-based model has failed to deliver them… how does Bitcoin compare as a financial institution? Does it truly provide these assurances in a unique way, and how strong are they?

Today’s read is the second half of Bitcoin: A Novel Economic Institution:
Link to the full paper – https://ark-invest.com/white-papers/bitcoin-part-one/

Get a head start on Part 2 by going to the ARKinvest site below:
https://ark-invest.com/white-papers/

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Read_440 – Bitcoin, A Novel Economic Institution by ARKinvest [Part 1]

“If one transaction can be censored and controlled, can’t all transactions be censored and controlled? Can’t the powers-that-be deprive participants of the ability to exchange value globally and freely?” – Yassine Elmandjra

Starting into the first half of a great investment thesis on Bitcoin by Yassine from ARKinvest. Digging into the core economic assurances of the financial system and how the legacy, trust based model of financial authority has failed in providing them. Where have they broken down, and what has fundamentally caused it? And how does it compare to the unique economic tool of Bitcoin?

Today’s read, Bitcoin: A Novel Economic Institution [Part 1]
Link to the full paper – https://ark-invest.com/white-papers/bitcoin-part-one/

Another great piece by Yassine covered on the show,
Winner Takes All, or Winner Takes Most? – https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_204—Winner-Takes-All–or-Winner-Takes-Most–Misir-Mahmudov–Yassine-Elmandjra-e30vht
And Hasu’s excellent piece,
Promise of Independent Property Rights – https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_225—Bitcoin–the-Promise-of-Independent-Property-Rights-Hasu–Su-Zhu-e3j6b8

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Read_439 – Genesis Files: Hal’s Quest for Digital Cash [Aaron van Wirdum]

“Most Cypherpunk veterans on the Cryptography mailing list had by then seen one too many electronic cash experiments come and go, without any real successes to account for…”

“But Hal Finney, ever the optimist, wasn’t ready to give up.” – Aaron Van Wirdum

Another in the amazing “Genesis Files” series from Bitcoin Magazine, Aaron walks us through the history and the legacy of Hal Finney. From the introduction to the cypherpunks list, to the implementation of RPOW, all the way to Hal “running Bitcoin.” Another excellent installment. If you want to learn more about the history of the cypherpunks and the forefathers of the Bitcoin system, the Genesis files is not to be missed.

Link to the original, with the other installments linked below:
https://bitcoinmagazine.com/articles/the-genesis-files-how-hal-finneys-quest-for-digital-cash-led-to-rpow-and-more

Genesis Files: Chaum’s eCash
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_058—The-Genesis-Files-How-David-Chaum-Spawned-a-Cypherpunk-Dream-e2ndsp
Genesis Files: Wei Dai’s B-Money
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_107—If-Bitcoin-Had-a-First-Draft–Wei-Dais-B-Money-Was-It-Aaron-Van-Wirdum-e2ndra
Genesis Files: Adam Back’s Hashcash
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_095—The-Genesis-Files-Hashcash-or-How-Adam-Back-Designed-Bitcoins-Motor-Block-e2ndrl
Genesis Files: Szabo’s BitGold
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_111—Genesis-Files—With-Bit-Gold–Nick-Szabo-Was-Inches-From-BTC–Aaron-Van-Wirdum-e2ndr5

Hal’s Bitcoin & Me:
https://anchor.fm/thecryptoconomy/episodes/Hals-Day—Bitcoin–Me-reboot-eiq0gl

A huge thanks to Bitcoin Magazine and the Let’s Talk Bitcoin Network!

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Read_438 – Blockchain Proof of Work is a Decentralized Clock [grisha]

“This explanation rests on illustrating a few interesting properties of how Proof-of-Work is used in the blockchain that are not immediately obvious and sometimes are rather counter-intuitive, for example how participants collectively solve a problem without ever communicating.” – grisha

While we incessantly focus on the side-effects of the proof-of-work system in Bitcoin, the security it attributes to the Bitcoin history, the incentive structure it enables, etc, we can often forget the reason Satoshi himself stated for its use: to enable a distributed timestamp server. i.e. a decentralized clock.

An epic piece from @humblehack posted back in January 2018 on his blog at grisha.org. Check out the original and many other works at the link below:
https://grisha.org/blog/2018/01/23/explaining-proof-of-work/

Other great reads to dig further into the concepts:
The Drunkard’s Walk: https://amzn.to/2Mzzr2K
Fooled By Randomness: https://www.amazon.com/Fooled-Randomness-Hidden-Markets-Incerto/dp/0812975219/ref=sr_1_1?dchild=1&keywords=fooled+by+randomness&qid=1599781258&s=books&sr=1-1
Bitcoin Astronomy: https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_303—Bitcoin-Astronomy-Part-1—Dhruv-Bansal-e6eqo5

Thanks to Marty & Chris from TFTC for bringing this to my attention again:
Episode 188: https://anchor.fm/tales-from-the-crypt/episodes/188-Chris-Bendiksen-ein7nj

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Read_437 – A Monetary Layer for the Internet [Thibaud Marechal]

“The project was initially understood as yet another doomed attempt to construct a digital currency by the disillusioned cypherpunk community. And without anyone’s permission, Bitcoin slowly emerged and diligently grew to become adopted by a small group of computer researchers, cryptographers and engineers curious to decipher the technology.” – Thibaud Marechal

Another great article at Bitcoin Magazine on the history of the internet, and how Bitcoin finally fulfills the ultimate vision of a monetary protocol native to the world wide web. After decades of failed attempts, we finally have an independent, decentralized, native language for communicating, verifying, and exchanging value in cyberspace. A new world is born.

The original article and a bunch of other great piece can be found at Bitcoin Magazine below:
https://bitcoinmagazine.com/articles/a-monetary-layer-for-the-internet

Links to other episodes and works mentioned in today’s show:
Guy’s Take – The Internet is Too Complex to Work
https://anchor.fm/thecryptoconomy/episodes/GuysTake_008—The-Lightning-of-my-TCP–or-How-the-Internet-is-Too-Complex-to-Work-e32omd
The Bitcoin Survivor’s Book List:
https://thecryptoconomy.com/bitcoin-survivors-book-list/

Stack sats automatically in your DCA Bitcoin savings plan at SwanBitcoin.com/Guy and get $10 for FREE to start off!

Much love to the Let’s Talk Bitcoin Network for sharing this show out with their audience, and the other excellent shows they produce for the Bitcoin space!

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Read_436 – Don’t Fear the Reaper [Nic Carter]

“Bitcoin’s supply schedule cannot change, because Bitcoin is the supply schedule. Any alteration produces something that is decidedly non-Bitcoin.” – Nic Carter

Nic does it again with a great piece on the potential future where inflation is needed to “secure” Bitcoin in the post reward era. Will it still be Bitcoin? Can it be secured? Does it mean a change it baked in already? Find out in this excellent piece from Nic, “Don’t Fear the Reaper!”

Drop some hella applause on the original at his medium page below:
https://medium.com/@nic__carter/dont-fear-the-reaper-8bbb42358efb

For some other great works mentioned in this episode, these are great further “readings” on the topic:
21 Million is Non-Negotiable:
https://anchor.fm/thecryptoconomy/episodes/Read_411—21-Million-is-Non-Negotiable-Phil-Geiger-eg6fbd
Unpacking Bitcoin’s Social Contract:
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_198—Unpacking-Bitcoins-Social-Contract-Hasu-e2oct5
A Most Peaceful Revolution:
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_293—A-Most-Peaceful-Revolution-Nic-Carter-e5bfpm

If you want to support the show you can share it out with your friends, subscribe so you don’t miss any of these amazing works and conversations, & of course become a Patron at Patreon.com/thecryptoconomy

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Read_435 – Discovering Bitcoin #7 – Missing Pieces [Giacomo Zucco]

“As we conclude our “Discovering Bitcoin” series, we will build on the use of digital signatures and of the CoinJoin paradigm to explore concepts of unique chronology, mining fees and off-chain transactions.” – Giacomo Zucco

The conclusion of the amazing “Discovering Bitcoin” series, starting from cavemen and the very concept of hardness all the way to off-chain payments and the Lightning network! Listen to the entire series for the conceptual history of money, its virtualization, its corruption, its redesign, and the new paradigm we are now entering. A huge thanks to Giacomo for putting this together and to Bitcoin Magazine for having such awesome content to cover!

Check out the previous parts if you haven’t yet!
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
Part 3 – Introducing Money: https://anchor.fm/thecryptoconomy/episodes/Read_426—Discovering-Bitcoin-3-Introducing-Money-Giacomo-Zucco-ehphre
Part 4 – A Wrong Turn: https://anchor.fm/thecryptoconomy/episodes/Read_428—Discovering-Bitcoin-4—A-Wrong-Turn–A-New-Plan-Giacomo-Zucco-ei2k64
Part 5 – Digital Scarcity: https://anchor.fm/thecryptoconomy/episodes/Read_429—Discovering-Bitcoin-5—Digital-Scarcity-Giacomo-Zucco-ei9ln3
Part 6 – Digital Contracts: https://anchor.fm/thecryptoconomy/episodes/Read_432—Discovering-Bitcoin-6—Digital-Contracts-Giacomo-Zucco-eil37c

Stack sats automatically in your DCA Bitcoin savings plan at SwanBitcoin.com/Guy and get $10 for FREE to start off!

Much love to the Let’s Talk Bitcoin Network for sharing this show out with their audience, and the other excellent shows they produce for the Bitcoin space!

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Read_434 – Bitcoin is One for All – Part 2 [Parker Lewis]

“The same is not true of the current monetary system. In the current structure, dollars can either be earned by delivering value to others within the economy, or conversely, if the Fed decides to hand out more money. And this happens quite frequently. Of all the dollars that exist today, over 80% have been created and allocated by the Fed since 2008” – Parker Lewis

The conclusion of Bitcoin is One for All, the latest installment of the Gradually, then Suddenly series by Parker Lewis. What is the true price setter in the economy? How is imbalance sustained for so long? What does the alternative look like? And will Bitcoin only benefit the rich, or is it one for all? Don’t miss the rest of this amazing piece at Unchained-capital.com

Read the original and check out the data to visualize these effects and arguments at the link below:
https://unchained-capital.com/blog/bitcoin-is-one-for-all/

Check out the entire Gradually, Then Suddenly playlist on Spotify here:
https://open.spotify.com/playlist/4NRn7e8FbNtoCLSigf8GV4?si=RnrAdkrSTmmMrh6rECxrbg

And don’t forget to secure your future with the lowest cost, automatic Bitcoin purchase savings plan at SwanBitcoin.com/guy – Plus get $10 in sats for FREE! Support the show, secure your future, and stack sats at Swanbitcoin.com

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Read_433 – Bitcoin is One for All – Part 1 [Parker Lewis]

“By manipulating price levels, the Fed isn’t just preventing smaller intermittent fires from naturally running their course while creating larger fires down the road. Instead, think of the Fed’s actions as the arsonist that lights a fire, leaves through the back door in the middle of the night, and then is celebrated as the hero when it arrives through the front door to fight the fire with gasoline.” – Parker Lewis

May the “Gradually, then Suddenly” series never stop!! Another fantastic piece from returning author Parker Lewis and the amazing Unchained Capital Blog. We read the first half of the latest in the series, “Bitcoin is One for All.” The nature of prices, the nature of the Fed, the imbalances in the economy, the arsonist starting the fire, and the gasoline that makes the burn hot, fast, and impossible to stop. The very mandate of the Fed is antithetical to the nature of money. Find out why in this excellent new installment.

Read the original and check out the data to visualize these effects and arguments at the link below:
https://unchained-capital.com/blog/bitcoin-is-one-for-all/

Check out the entire Gradually, Then Suddenly playlist on Spotify here:
https://open.spotify.com/playlist/4NRn7e8FbNtoCLSigf8GV4?si=RnrAdkrSTmmMrh6rECxrbg

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Read_Reboot – Hal’s Day – Bitcoin & Me

Bringing back an old post for Hal’s Day. 6 years ago today we lost Hal Finney. This post was one of his last on the BitcoinTalkForums, knowing he would leave us soon, and how he saw his legacy. RIP Hal, we will see you again.

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Read_432 – Discovering Bitcoin #6 – Digital Contracts [Giacomo Zucco]

“In Part 6 of this “Discovering Bitcoin” series, we will build on the idea of using digital puzzles as a way to reproduce scarcity, and on the importance of a supply-control mechanism to grant some hardness to digital money, to explore concepts of proving ownership through signatures and scripts, and the technique known as CoinJoin.” – Giacomo Zucco

Find the original article and links to the other great reads in this series at Bitcoin Magazine:
https://bitcoinmagazine.com/articles/discovering-bitcoin-part-6-digital-contracts

Stack sats automatically in your DCA Bitcoin savings plan at SwanBitcoin.com/Guy and get $10 for FREE to start off!

Much love to the Let’s Talk Bitcoin Network for sharing this show out with their audience, and the other excellent shows they produce for the Bitcoin space!

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Read_431 – True Names Not Required [Gigi]

“We need to be able to disassociate from our identities to protect ourselves. We need the freedom to selectively reveal ourselves. We need the possibility to rally behind names, symbols, masks, and the ideas they represent — using transient identities and wearing masks ourselves if we have to. If identities are permanent and transparent, rebellion and revolution are impossible.” – Gigi

A great piece from the epic blog over at Citadel21.com, by none other than Gigi, author of 21 Lessons. What is importance and impact of pseudonymity? Why should we be vigilant about the preservation of privacy in cyberspace? Find out in today’s excellent read, “True Names Not Required”

Read the original and so many other great posts at Citadel21.com

No sponsor for today’s show but you can always support the podcast by supporting your future with a Swan Bitcoin savings plan and using swanbitcoin.com/guy to start auto-buying Bitcoin every day, week, or month and stacking sats for your future.

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Category: Read