Read_359 – Microsoft’s ION Bets on Bitcoin [Colin Harper]
Microsoft has a history of funding and developing with open source systems, and has started a new project called ION, trying to make a universal, decentralized system secured by Bitcoin, for managing and proving identities available to the globe. What are the goals and mindset behind this project, and how is Microsoft planning for its future, and the future of the Bitcoin ecosystem? Find out in today’s article by Colin Harper discussing the ION system with Daniel Buchner, the project lead!
Another of the constantly amazing content available thanks to the team at Bitcoin Magazine! Check out Colin’s previous article getting into details of how the ION system will work.
https://bitcoinmagazine.com/articles/microsoft-building-id-verification-platform-bitcoin
A huge thanks to the LTB Network for partnering with the show and helping to get the Audible of Bitcoin to everyone!
https://letstalkbitcoin.com/
Support the show by becoming a patron and get access to the Cryptoconomy Telegram Crew!
patreon.com/thecryptconomy
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Read_358 – The Blockchain is Exhaust [Udi Wertheimer]
Is the blockchain a critical tool that creates the power behind Bitcoin, or is it a wasteful and unavoidable byproduct, an exhaust, of the system that secures the most sound money in the world?
This was a fascinating Twitter thread by Udi Wertheimer that explores what I find to be an interesting perspective on the role that “the blockchain” plays in the Bitcoin network. With added input and contrarian opinions from Eric Wall, Meni Rosenfeld, Adam Back, & Justin Moon, we take a short episode to expand on a unique idea.
The Original Thread:
https://twitter.com/udiWertheimer/status/1087142827346354177
https://twitter.com/adam3us/status/1087315014812348417?s=20
https://twitter.com/MeniRosenfeld/status/1087663298944864256?s=20
Other works mentioned that will shed light on these ideas:
Parker Lewis’s “Bitcoin Cannot be Copied”:
• https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_291—Bitcoin-Cant-Be-Copied-Parker-Lewis-e58g11
Nick Szabo’s “Money, Blockchains, and Social Scalability”:
• https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_066—Money–Blockchains–and-Social-Scalability-e2ndsj
Help keep the project alive by becoming a patron! Plus join the Cryptoconomy Telelgram Crew!
patreon.com/thecryptoconomy
thecryptoconomy.com
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Read_357 – Another Step Towards a P2P Lightning Economy [Roy Sheinfeld]
“If you ask me how much trust is right for the Lightning economy, the answer will always be less.” – Roy Sheinfeld
Today we dig into the recently implemented reverse submarine swaps in the breez lightning service. One of the many tools we have for both mitigating, and also building trust in the new economy. How exactly do submarine swaps work, what’s a HODL invoice, what might they mean for the future of Lightning, and how is Breez using them? All this any more in today’s article by Roy Sheinfeld!
Check out the original below and be sure to drop some claps over at Medium:
https://medium.com/breez-technology/reverse-submarine-swaps-another-step-towards-a-p2p-lightning-economy-bacb040fdca7
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Read_356 – Bitcoin Cannot be Banned [Parker Lewis]
“By design, Bitcoin exists beyond governments. […] The architecture of bitcoin is practically purpose-built to resist and immunize any attempts by governments to ban it.” – @parkeralewis
The next in the Gradually, Then Suddenly series not to be missed. Governments will not ban Bitcoin until it’s apparent that it actually presents a threat to their own currencies, when that happens and under that pretense, they will face the ultimate Prisoner’s Dilemma, & the only winning move is to play.
Link to the original article at Unchained Capital along with the rest in this incredible series by Parker Lewis!
https://unchained-capital.com/blog/bitcoin-cannot-be-banned/
Don’t forget to subscribe and support the Audible of the Bitcoin space! You can do so through tippin.me on Twitter, or becoming a patron below!
patreon.com/thecryptoconomy
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Read_355 – How Decentralization Dies [Brandon Arvanaghi]
“Decentralization has […] been a vessel for achieving a concession from a centralized body it is protesting. Every decentralization play has followed a simple pattern: protest a market inefficiency, win that protest via a major concession, and then disappear back to fringes of society.” – Brandon Arvanaghi
What can we learn from the history of decentralized protocols and the huge battles of history during the disruption of the internet, versus the corporate and media giants of the day? Does it spell doom for Bitcoin and decentralized systems as the central banks & financial giants concede to give control back to the customer? Or is there something else entirely at play? Don’t miss this great read and then Guy’s Take on how Decentralization Dies!
Don’t forget to drop some applause on the original article and follow Brandon on twitter for more insights like this one!
https://medium.com/@brandonarvanaghi/how-decentralization-dies-the-killer-concessions-86dd1ca86da3
https://twitter.com/arvanaghi
A huge thank you to all of my patrons for contributing to this project and helping to promote this show! I couldn’t do it without you. A special thanks to SovereignFinancials for such a generous donation!
Join the crew and become a patron at Patreon.com/thecryptoconomy
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Read_354 – Why Proof of Reserves is Important to Bitcoin [Mauricio Di Bartolomeo]
“Bitcoin is a movement founded on individual monetary sovereignty, transparency and peer-to-peer auditability enabled by a breakthrough in technology. […] The technology to provide auditability and transparency for bitcoin held in custody has been inherent to the protocol from its inception. However, the industry has been slow to incorporate” -Mauricio Di Bartolomeo
Bitcoin, as a new asset class, provides us with one of the most powerful tools for financial security in a custodial context: cryptographic proofs of reserve. We would be foolish to not make use of it. Let us not repeat the mistakes of the past.
Another great piece from Bitcoin Magazine to shine light on a critical issue for a future with sustainable sound money. Don’t miss the short article and Guy’s take to follow! Link to the original below:
https://bitcoinmagazine.com/articles/why-proof-of-reserves-is-important-to-bitcoin
A huge thanks to the LTBNetwork. Don’t forget to check out the tons of other great shows on their platform!
Other’s mentioned in the show:
2019 Saw the Most Exchange Hacks Ever:
https://bitcoinmagazine.com/articles/2019-saw-most-exchange-attacks-ever-with-hackers-becoming-more-savvy
Nic Carter’s Tweets on PoR
https://twitter.com/nic__carter/status/1229599601440829440?s=20
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Read_353 – We’re All Default Keynesians Now [Brady Swenson]
“Unless you began your Austrian economic education at birth in some unknown Austrian paradise, on this planet at this particular time in human history, I think we can safely say we’re all Keynesians by default.” – Brady Swenson @citizenbitcoin
Today we read a great little piece on how our economic understandings have become so skewed, why the default has become one of centralized, top down control over money, and how Bitcoin is set to right the world of our economic foundations. We’ve got a fun rant after this one too, so don’t miss it!
Check out the original article and drop some major applause. Don’t forget to follow Brady on Twitter and check out his show as well!
https://medium.com/@citizenbitcoin/were-all-default-keynesians-now-and-how-bitcoin-is-changing-that-886ed2096b76
Get your “Default Keynesian” shirt here:
https://layeronebtc.com/collections/citizen-bitcoin-podcast/products/default-keynesian-short-sleeve-unisex-t-shirt
Saif’s Beginner’s Guide to Austrian Econ:
https://saifedean.com/2018/07/22/a-beginners-guide-to-austrian-economics/
Stephan Livera’s Intro to Bitcoin Austrian Thought:
https://stephanlivera.com/episode/71/
And the huge collection of works at Gigi’s Bitcoin Resources:
https://bitcoin-resources.com/
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Read_352 – Paying Yourself for Privacy on Lightning? [Aaron Van Wirdum]
“The Lightning Network is best known for its fast and cheap payments. But the Layer 2 protocol could also offer more privacy than on-chain payments […] the developer thinks that “self-payments” could be an important part of the privacy puzzle.” – Aaron Van Wirdum
Despite its focus on payments and scaling the Bitcoin system, Lightning may have incredible potential for privacy opportunities and improvements. Pseudonymous developer ZmnSCPxj has been detailing and expanding on these concepts in recent months, and who better to lay it all out for us than BitcoinMagazine, and Aaron Van Wirdum? Don’t miss today’s article on a new trick of payment privacy for Lightning…
Paying Yourself? Self-Payments Could Be a Key to Lightning Privacy
https://bitcoinmagazine.com/articles/paying-yourself-self-payments-could-be-a-key-to-lightning-privacy
A big thanks to Bitcoin Magazine and the Let’s Talk Bitcoin Network for making this content available!
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Read_351 – Bitcoin is Not a Pyramid Scheme [Parker Lewis]
“Not everyone understands what a pyramid scheme actually is, what the warning signs may be, or why such schemes always fail […] The distinctions should be glaringly obvious, but because bitcoin is complex and the very idea of money is not well understood, it can easily be confused.” – Parker Lewis
Today we are diving back into the Gradually, Then Suddenly series from Unchained Capital with an excellent breakdown of what Bitcoin is, and what it isn’t. Starting with the both obvious, yet not so obvious truth, that it is certainly not a pyramid scheme! Don’t miss another incredible installments by Parker Lewis.
Original Article and the rest of the series below:
https://unchained-capital.com/blog/bitcoin-is-not-a-pyramid-scheme/
Other great pieces mentioned both in the article, and in the commentary:
• Everyone’s a Scammer:
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_267—Everyones-a-Scammer-Michael-Goldstein-e4ihq8
• Bitcoin Has No Intrinsic Value:
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_249—Bitcoin-Has-No-Intrinsic-Value—Thats-Great–Conner-Brown-e43bcm
• Use of Knowledge in Society
Part 1 – https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_250—Use-of-Knowledge-in-Society-Part-1—F–A–Hayek-e43pfj
Part 2 – https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_251—Use-of-Knowledge-in-Society-Part-2—F–A–Hayek-e444k0
• A Story of Booms & Busts
https://anchor.fm/thecryptoconomy/episodes/GuysTake_18—A-Story-About-Booms–Busts-e4aflh
If you’d like to support this show and become a patron, click the link below!
www.patreon.com/thecryptoconomy
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Read_350 – Of Course You Can Own Bitcoins [Bitcoin Rabbi]
Can you really own Bitcoins? Or do you merely have possession of keys that grant a high probability of exclusive control?
A fun short read to close out the week, from the Bitcoin Rabbi on defining what it means to own or possess bitcoin. Check out the original article below on medium and drop some applause, and follow The Bitcoin Rabbi on Twitter!
https://medium.com/@thebitcoinrabbi/of-course-you-can-own-bitcoins-dedcfc0c2e49
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Read_349 – The Rise of SIM Swapping [David Hollerith]
“For the better part of the last decade, the combination of these two practices has given rise to an increasing number of SIM swap attacks ending in the theft of bitcoin and other cryptocurrencies.” – David Hollerith
Another piece from BitcoinMagazine.com, this one by author and podcast host David Hollerith, that breaks down the risks and details of SIM swap attacks and how you may be vulnerable to losing your bitcoins, simply by revealing your phone number. Don’t miss this piece detailing out the attack, and listing out the Do’s and Don’ts of Bitcoin security.
Check out the original plus a ton of other great recent articles over at BitocinMagazine.com:
https://bitcoinmagazine.com/articles/the-rise-of-sim-swapping-how-and-why-bitcoiners-need-to-protect-themselves
Also recommended is Michael Perklin’s article to go along with this one:
https://bitcoinmagazine.com/articles/keep-your-bitcoin-safe-by-making-security-a-habit
I also mentioned Jameson Lopp’s extreme testing of the bitcoin steel wallets, a great read below:
Part 1: https://blog.lopp.net/metal-bitcoin-seed-storage-stress-test/
Part 2: https://blog.lopp.net/metal-bitcoin-seed-storage-stress-test–part-ii-/
And don’t forget to subscribe and share this show with everyone you know in Bitcoin. If you would like to join the Telegram group, become a patron below!
www.patreon.com/thecryptoconomy
Lastly, a big thank you to Dave, Bitcoin Magazine, and the LTBNetwork for the incredible work and spreading the show!
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Read_348 – All 21M Bitcoin Already Exist [Phil Geiger]
“we have nearly 11 years of empirical evidence that the network itself has been holding and transacting bitcoin, but instead of with private key signatures, it’s in exchange for hashed electricity.” – Phil Geiger
Framing the scarcity of Bitcoin at first seems obvious, but with a closer look, is far more difficult than it would seem. Does the supply actually inflate at all? Does the market price in all future halvings? Do the Bitcoin exist when they are mined, or do they exist today, sold to the miners in exchange for hashes? Phil presents a very interesting perspective and way of framing the supply of Bitcoin, in this great piece from the Unchained Capital Blog.
Check out the original below, and don’t forget to follow Phil on Twitter:
https://unchained-capital.com/blog/all-21-million-bitcoin-already-exist/
Support the audio for all things Bitcoin by becoming a patron below!
patreon.com/thecryptoconomy
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