I promised, and it's finally here. It's time to get a little perspective, with the price at all time lows,... more

"Coding, mining, infrastructure, and markets are all independent, happening in competing jurisdictions and geopolitical rivals, often done by anonymous or... more

"Base money is a liability of the central bank, and it’s used as a reserve asset by commercial banks. Broad... more

With the markets in chaos, with services halting withdraws, & Everyone's a Scammer" by Michael Goldstein, is one of those... more

"Bitcoin is a lifeboat on the sinking fiat ship. Lifeboats on a sinking ship don’t need a marketing department." -... more

"The reverse of that process – a so-called “death spiral” – was inevitable. Any time the immeasurably over-levered global fiat... more

This episode is partly a follow up from Read_628 on reviving a promising renewable energy technology. Partly a discussion of... more

"A typical Bitcoin mining operation will spend considerable amounts of time, energy and money cooling their ASIC miners with air... more

"Coming off the Bitcoin 2022 conference, you might feel a little down from the high of meeting and spending time with Bitcoiners.... more

"When I thought about what is the defining difference between the Bitcoin maximalists and my yuppie elite friends, the surface... more

"Several exchanges in the industry fuel bubbles for a quick buck as well. If something starts to get momentum, including... more

"This created a ticking time bomb with a very short timer. That money was going to "work" in completely artificial... more

So what exactly did I get wrong in Guy's Take #54, and why? Let's dig back into the economic of... more

"Despite all of these constraints, the free market finally provided the competition these incumbent banks so desperately needed. Bitcoin and the Lightning Network have... more

Welcome to Bitcoin! 😆 For the best products and services to get you started in Bitcoin, our sponsors are literally a... more

[Caveat - A critical piece of the puzzle I lay out in this episode was something I incorrectly understood, which... more

"It is imperative that elected officials in the United States recognize that bitcoin, and the innovation of Proof of Work,... more

Everybody take a deep breath! Right now all the drama on Twitter and the Bitcoin community is all about CTV.... more

"One issue with Bitcoin’s privacy, the ability to receive funds without giving up valuable information, is addressed with 'silent payments.'"... more

"Even if you knew this was complete and utter bullshit, and that being an agent and not a principal ethically... more

"You’re a thirsty bitch. You like to gargle Peter’s balls." - DeaterBob This is happening and there is nothing I can... more

"Bitcoin miners are unique because of how fast, transparent, and flexible their response can be to pricing fluctuations.  Riot’s Whinstone mining... more

"There are still many extensions to build out in the protocol and areas with unsolved scaling issues. In general, the... more

"Taro enables bitcoin to serve as a protocol of value by allowing app developers to integrate assets alongside BTC in... more

LNpay, LNURL, LNauth, streaming sats, Bolt12, the past and future of Lightning. We dig into tons of great stuff around... more

"Besides the advantage of near-instant payments, there can be privacy improvements to Lightning as well. Unfortunately, there are scenarios where... more

This episode is because the previous read by Steve Barbour deserved a Guy's Take. Before we change topics to privacy... more

"As with freedom and oppression, Bitcoin and State money may exist in a perpetual tug of war between ideals. Where... more

"Much more to say. This is just a starting point, but I'm interested in Bitcoin for its potential to reorient... more

"...This purpose flounders, however, if their own evangelists and the community at large fails to lay the groundwork and impetus... more

"On a medium-term basis, it is time to back up the John Deere excavator and scoop up as much gold... more

"Thus, given enough time and popularity, every movie, every song, and every document will be available to the general public... more

"In sum, the U.S. government has shown that — through the GFC, repo spike crisis in 2019 and pandemic crisis... more

"As detailed in Saifedean Ammous’s “The Fiat Standard,” in November 1914 the British government “issued the first war bond, aiming... more

"Aspiring Republican politicians and conservative opinionators love talking in darkened tones about the malevolence of elites. And yet, for all... more

"If having 12 words in your head is illegal, something is terribly wrong with the law. If the police storm... more

"Only liquid, flowing capital generates a return. Unlike a bank account, capital on Lightning is productive when it is mobile,... more

"People tend to favor proposals that would benefit themselves and reject proposals that, at their own expense, would benefit others.... more

"Now what's that saying again. Just because you're paranoid doesn't mean they aren't after you. It's starting to smell like... more

"The U.S. and its allies are now effectively backed into a series of corners. Can the U.S. attempt to ban... more

"By taking away their printing presses, Bitcoin stops the creeping totalitarianism that weaponizes our own blood, sweat and tears against... more

“Bitcoin as a superior monetary good is more valuable than a better payment network . This leads us to another point... more

"That is not to say that Bitcoin will lead us to a pacifist utopia in which any attempt at violence... more

Today we have an incredible chat as a followup to the recent piece Read_596 - Bitcoin is a Pioneer Species.... more

“And finally, given its asymmetric return distribution I believe It is more risky to have zero exposure to bitcoin than... more

“General Motors, Ford, AT&T and GE have cumulative debt that is larger than the entire HY market. Downgrades of any... more

With Twitter up in arms about a potentially invasive privacy measure and compliance for an invasive regulatory requirement, it's time... more

"What is money? Why is it used? Which type of money is best? And why?" - Eric Yakes Today we are... more

“This makes Bitcoin miners uniquely symbiotic with energy grids serving as “demand response” partners. If energy is ever in short... more

"Money, in the ideal (which we’ll likely always only ever strive for, and not achieve), turns a portion of ‘our... more

“Sacrifice is thus a critical component of value, as it is the use of one’s own limited resources, as that... more

"This confluence of Fed hikes and investor naivety “presents the setup for a severe washout” as the “pernicious effects of... more

“The people at the end of the line who are flipping NFTs do not fundamentally care about distributed trust models... more

"Our goal is basically to realize this concept we have created called the atomic economy. This is just my way... more

In a follow up to the State of Lightning Report from Arcane Research and OpenNode, we dive into the possibilities... more

"What the Internet has done for information, Bitcoin and the Lightning Network will do for money. " - Elizabeth Stark Finishing the... more

“The Lightning Network, and the possibility to perform micropayments instantaneously, will most likely change how we pay for certain services.... more

“Crypto exchanges with numerous coins have an incentive to get you excited about new coins, because they make money from... more

"If Bitcoin were built on a proof-of-stake model, where the more coins you have the more votes you have on... more

"These pioneers are akin to the Bitcoiners who showed up post-Mt. Gox, through to the Class of 2020. These are the... more

"If Bitcoin had existed in Tesla’s time, it would have removed the need for a corrupted monetary arrangement. Bitcoin mining... more

"Neither is a Central Bank Digital Currency a State-level embrace of cryptocurrency—at least not of cryptocurrency as pretty much everyone... more

If you missed the awesome Twitter spaces we had with Lixin Liu from Keystone and Douglas Bakkum from Shift Crypto,... more

“'Smart contracts' as a term was coined by Nick Szabo back in 1996 before the idea of a blockchain was... more

"Even if we could somehow convince the world or the U.S. government to adopt a gold standard, there’s not really... more

“Money appreciates in value over time so that individuals can plan their future knowing their wealth will be protected. This... more

“Often, in an argument, what people think they are arguing about is not the real subject of disagreement, which is... more

“If price is truth, then a market capitalization of over $1 billion for over 100 different cryptocurrencies tells a story:... more

"The Bitcoin network itself and the personal owning of bitcoin is an act of peaceful rebellion against the fiat money... more

“as the internet has slowly but surely eroded the obstacle of restricted information access in the past decades, the limiting... more

"Hudson’s thesis was that America had forced other countries to pay for its wars regardless of whether they wanted to... more

Today we have an incredible conversation with Preston Pysh and Greg Foss on the Bond markets, the shifting sands of... more

"The passage of time is one thing that we can never get back. Once it has been spent, there’s no... more

“I wish people engineered things to be self-replicating, self adjusting, self-governing, and ever-lasting. But nobody has engineered anything to do... more

"We’re revolutionaries. There’s no reason to be coy about it. Our goal is to replace fiat with bitcoin. “Disruption” is... more

“Freedom, transparency, honesty, meritocracy, fairness, voluntaryism and hard work are great things one should strive toward, whether it is in... more

"It is understandably difficult for most of us to imagine a monetary world aside from the one in which we've... more

"The fight that the cypherpunks mounted was one of the main reasons that the U.S. government lost the Crypto Wars.... more

"Nodes are the law, and miners are the muscle." - Harry Sudock Harry Sudock, Vice President of Strategy at Griid, and I... more

"The precise magnitude and schedule for the westward move is currently unknown, but all signals seem to be indicating the... more

"Wake up people, this is not a drill. Contagion risks are increasing due to potential global stagflation... The intrinsic value of BTC... more

“Using Bitcoin can level the playing field for the world’s poor as we work toward economic justice.” - Bradley Rettler Author Bradley... more

"Not only is the world experiencing greater dispersion of outcomes, it is also changing at an increasingly faster pace. Raw... more

"The individual investor is professionalizing at the end of one of the biggest, most Homeric blow-out parties of all time.... more

"In this piece we discuss our concerns around the broader “crypto” space beyond Bitcoin. Our arguments revolve around three primary... more

"The line of differentiation between the masses and the Remnant is set invariably by quality, not by circumstance. The Remnant... more

“As Gall’s Law suggests, we believe the general principle favoring Bitcoin’s layered architecture is not one of software engineering so... more

"Lyn Alden captured this well in her excellent piece, An Economic Analysis of Ethereum, which we highly recommend in addition to our own. Similarly observing that there does seem to be a lot of... more

"The consensus is what matters. The breakthrough of proof-of-work and the difficulty adjustment is far more about harnessing energy and existing communications infrastructure to calibrate incentives than it has to do with... more

“Sandwiched between Guatemala and Honduras, El Salvador — the smallest and most densely populated country in Central America, with an... more

"Schumpeter would have loved Bitcoin. He would have seen in Bitcoin a living representation of his theory of capitalism, so... more

"we often hear the U.S. dollar called an “exorbitant privilege.” Namely, that the U.S. benefits disproportionately from the dollar’s reserve... more

"For those with the curiosity to look, Bitcoin has emerged as a vast and mysterious space to explore, with treasures,... more

"the fact that bitcoin is now legal tender in a country is absolutely astonishing. Yesterday, some nerds discovered a system... more

"There has never been a more secure, scarce, valuable, transportable, decentralized and networked asset in all of humanity’s history. It’s... more

"Long before we had the Bitcoin energy debate, we had the gold resource cost debate. The contours were similar: the... more

“Farzan and her family traveled by foot, car and train thousands of miles through Iran and Turkey, finally making it... more

Dave Smith has finally done a Bitcoin episode! For those of you who missed this, I am making it available... more

"Bitcoin fails as a money b/c of its naive monetary policy. Many people think government printing too much is... more

“This technology goes around blockades and government restrictions, it allows you to move value without trusting anyone, it connects you... more