2-Bit Idiots

Hats and Brendo riff on all things that have caught their attention this week in Bitcoin.

Why technology is difficult, and why that’s no different in Bitcoin. If you find it easy, you must become the go-to person in your friend and family group.

Toxic Brendo trends on Twitter Business and Finance and tells us why he looks through all financial advice books for mentions of Bitcoin, and why most of the content is crap. If you want a list of good Bitcoin books, go to www.bitcoin-first.com/learn

We discuss whether crematoriums should be fitted with a Bitcoin miner, to donate your body to the network.

Find out what Lionel Richie and Homer Simpson have in common.

Why do we trust politicians and bankers on money, when we don’t trust them on anything else?

Max Keiser and David McWilliams discuss why Gresham’s Law suggests Bitcoin is a bad thing.

Why Hats thinks there will be another cycle, but why he should be wrong.

The narrative shift in the last 6 months on Bitcoin mining.

When do whales start buying failing companies.  Who will be the first bitcoiners to own an airline, and how many businesses (including Bitcoin businesses) will outperform Bitcoin.

What would you sell Bitcoin for?

Preston Pysh and John Vallis talk about 1 Bitcoin being worth 100 salaries.

We also touch on conspiracy theories around power shortages.

Tweet of the Week: Alon Shvartsman

Dick of the Day: Us

Pod Shout-outs

twitter.com/alonshvartsman (Shadowy Super-Coder, Twitter)

twitter.com/hodlonaut (Space Cat, Twitter)

twitter.com/Seetee_io (Closing the Loop Podcast, John Vallis and Preston Pysh)

twitter.com/LionelRichie (Yes, that one)

twitter.com/davidmcw (Economist and Broadcaster)

twitter.com/HillebrandMax (Free Software Entrepreneur)

twitter.com/100trillionUSD (Stock to Flow Famous)

twitter.com/compass_mining (Helping Everyone Mine Bitcoin)

twitter.com/JP_Technology (Bitcoin Sydney Meetup Organiser)

Contact Us

www.twitter.com/2BitIdiots (here if you’d like to be a Pod guest)

www.twitter.com/BitcoinBrendo

www.twitter.com/StackingHats

Or visit our website:

www.2bitidiots.com for links to the pod on your favourite podcast app.

Thanks for listening.

Camila Campton, the Swan Force lead at Swan Bitcoin, joins us to discuss what makes all of us willing to talk about Bitcoin 24/7.

A self-described newbie with a willingness to learn, Camila is crushing it with Swan, who first approached her to work on their social media but is now also presenting the Bitcoin En Espanol show with Javier Bastardo @criptobastardo from Venezuela.

She sees herself as an educator and describes how Bitcoin makes you more selfless and loves building a toolbox of resources to help people learn.

She first started learning about Bitcoin with her husband following the March 2020 market correction by listening to podcasts by Citizen Bitcoin, Stephan Livera, Matt Odell and Marty Bent. She describes it as a guilt-free addiction (and now job) that gives you hope, compared to a pessimistic outlook on life outside of Bitcoin.

She sees it as important to speak to friends, family and Swan users about Bitcoin at a level they can understand, using all social channels and connecting on a human level to help them get off zero and start accumulating Satoshis. But also, the importance of establishing yourself as the Bitcoin person in your community, and letting people come to you when they are ready.

We discussed how Bitcoin is viewed in Latin America (particularly Colombia) and how people still have more faith in the USD as a savings vehicle, and that both Clubhouse and Twitter Spaces have thriving Spanish speaking Bitcoin communities.

Camila tells us her thoughts and experience of being a woman in Bitcoin. The only pushback was whether she was in Bitcoin for clout and attention, but she has proven her intentions through her work:

“If you’re comfortable with your intent, keep doing you.”

She feels she’s always had a lower time preference than her peers, but Bitcoin has allowed her to flex her savings muscle and find her people.

Finally, we talk about bitcoiners being the toughest critics of Bitcoin, and how people who work for Bitcoin will have their time and effort respected.

All Swan staff work from home, and although they could form a basketball team, none of us will ever be on it!

All Camila’s social accounts are @camilacampton

Do yourself a favour.

Pod Shout-outs

www.SwanBitcoin.com/camila (Use this link to support Camila’s work)

The Bitcoin Standard, Saifedean Ammous, https://amzn.to/3Azt1YE

twitter.com/criptobastardo (Javier Bastardo, Bitcoin En Espanol)

twitter.com/CitizenBitcoin (Brady Swenson, Swan Bitcoin)

twitter.com/AnthonyDessauer (Doer of things, Twitter)

twitter.com/orangepillpod (Max and Stacy, Bitcoin royalty)

twitter.com/PrinceySOV  (Daniel Prince, Once BITten podcast)

twitter.com/efecini (Efecini, BitcoinVeDiger podcast – Turkey)

Contact Us

www.twitter.com/2BitIdiots (here if you’d like to be a Pod guest)

www.twitter.com/BitcoinBrendo

www.twitter.com/StackingHats

Or visit our website:

www.2bitidiots.com

The Turkish Lira is in freefall and the central bank just cut interest rates by 2 percentage points, making things significantly worse for Turkish people.

This week we are joined by Efe - twitter.com/efecini - a Turkish Bitcoin maximalist, who tells us what it's really like.

Efe was the translator of the Bitcoin Whitepaper into Turkish on bitcoin.org.  He's also just about to start a Bitcoin podcast and newsletter that translates useful Bitcoin resources into Turkish, for Turkish people. Check out twitter.com/BitcoinVeDiger (translates as “Bitcoin and Other Things”)

Although Efe was getting a 10% annual increase in salary as a software engineer, he realised he was not keeping up with inflation. Published figures of 19% CPI are not accurate and although unique to the individual, Efe puts his own inflation rate at 40-45% per annum!

He knew he needed to own something, so in 2017 he started his journey through shitcoin trading to Bitcoin maximalism. We discuss how friends were put off 'crypto' because they lost out to shitcoin trading in 2017. 

He tells us that Turkish people are fully aware that inflation is there (far better than people who live in ‘strong’ currency countries), but because food prices can go up 10% every month, this makes their behaviour understandably high time-preference. 

We learn how Turkish people currently hedge against inflation using the USD and gold, and even how it is traditional to receive gold at your wedding and never sell it.

We also discuss how Bitcoin is portrayed in Turkey by politicians, bankers and the fiat news, and why their personal incentives make them opposed to Bitcoin. There is a great need for a Bitcoin only exchange in Turkey.

The conversation then switches to his podcasting plans, and the experience we have had so far with 2BitIdiots, where we talk practicalities, analytics and platforms.

Thanks Efe.  Great chat.

Pod Shout-outs

twitter.com/jakeeswoodhouse (Aussie Based Bitcoiners, Twitter Spaces)

twitter.com/bitcoinbushbash (Bitcoin Meetup)

twitter.com/1971Bubble (Twitter nym)

Contact Us

www.twitter.com/2BitIdiots (here if you’d like to be a Pod guest)

www.twitter.com/BitcoinBrendo

www.twitter.com/StackingHats

Or visit our website:

www.2bitidiots.com for links to the pod on your favourite podcast app.

Thanks for listening.

In this episode we talk Bitcoin freestyle. No plan, just see where it takes us. We end up talking about:

The housing ‘boom’.  Why you think you’re getting rich but aren’t.

Hats love for Jeff Booth, and why the ‘growth forever’ system is unsustainable.

Skirting around the ‘C’ word.

Inflation and why the CPI metric looks bad but doesn’t even tell the whole bad story.

Depression, and how Bitcoin can help you regain hope. Also, being “overwhelmed” by all the people you can’t save.

Domains, and how we’re not just stacking sats.

Elon Musk talking shit, but still owning Bitcoin, owning stackingsats.com and moving Telsa to the Bitcoin capital of the world, Austin.

Hats meets Jagger and Brendo meets Thor.

Murrayfield is a stadium and not someone from the Wiggles.

Taking 20 years for 1.8m Salvadorans to be banked, and 20 days for 2.2m Salvadorans to have a Bitcoin wallet.

Why Bitcoiners are not pumping their own bags.

Why the bottom 55% of the population might only have 6348 sats.

Why Bitcoin is not included in The Big Picture report!

Why $18 trillion is spent on negative yielding bonds.

And our new favourite feature...Dick of the Day.

Pod Shout-outs

https://twitter.com/StarfuryFlames Meme/gif god

https://twitter.com/JeffBooth (Author, The Price of Tomorrow) https://amzn.to/3mY0dnM

https://twitter.com/saylor (Michael Saylor, Microstrategy)

https://twitter.com/gladstein (Alex Gladstein, CSO, Human Rights Foundation)

https://twitter.com/MichaelRihani (Bitcoin PM, CashApp)

https://twitter.com/charliebilello (CEO, Compound Capital Advisors)

https://twitter.com/DeadpoolBitcoin (Twitter nym)

https://twitter.com/glennhodl (Node Operator)

https://twitter.com/jamesviggy (jamesviggy.com)

https://twitter.com/samcallah (Writer, Swan Bitcoin)

Contact Us

www.twitter.com/2BitIdiots (here if you’d like to be a Pod guest)

www.twitter.com/BitcoinBrendo

www.twitter.com/StackingHats

Or visit our website:

www.2bitidiots.com for links to the pod on your favourite podcast app.

Thanks for listening.

Do you keep hearing about Bitcoin, but have no idea what anyone is talking about?  Do bitcoiners use terms that you don’t understand what they mean?  Do you feel like you’re asking a ‘stupid question’, so rather than look ‘stupid’ you just don’t ask?

If any of that sounds familiar, this is the pod for you.

We sit down with @_k3tan from @ministryofnodes to break down the most common terms you’ll hear and explain them in plain English.

If you already know 90%, but want a refresher on the remaining 10%, use the timestamps below to skip straight to the thing that’s confusing you.

If after listening, you still feel like you need 1-on-1 help, hop over to www.ministryofnodes.com.au where Ketan offers consulting on self-custody, nodes, privacy, the lightning network and more.

0:45 Introduction to Ketan and Ministry of Nodes

2:03 Purpose of the Glossary

3:16 What is Bitcoin

4:03 How many Bitcoins exist (the ‘hard-cap’)

5:20 The Halving Cycle

6:22 How can all people in the world own Bitcoin (what are Satoshis or ‘Sats’)

7:54 What is Unit Bias

9:04 Why are they called Satoshis, and who is Satoshi Nakamoto

10:45 What is a HODLer and where did the term originate

13:30 What are Altcoins (also referred to as ‘shitcoins’) and how is Bitcoin different

16:45 What are Stablecoins

18:19 What is the Blockchain

21:42 What is FUD

25:45 Why Bitcoin being ‘slow’ is a good thing, and what are confirmations

31:20 How does Bitcoin scale and what is the Lightning Network

37:28 What is Bitcoin Mining and is it still accessible for individuals

42:05 Understanding the Energy FUD (Hass McCook and This Machines Greens. Links below)

43:30 What is a Bitcoin Node and Personal Responsibility

48:20 What is a Bitcoin Address and Backward Compatibility

51:00 What is KYC and why would you want non-KYC Bitcoin

1:01:00 What are Boating Accidents and $5 Wrench Attacks

1:06:24 What are the different ways to Store your Bitcoin (Exchanges, Hot Wallets, Cold Storage, Private Keys/Seed Words), and how to purchase devices safely.

1:18:24 What are Multi-Signature Wallets and Passphrases

1:23:05 What is the Difficulty Adjustment and is it Art

1:27:26 Information about Ministry of Nodes and 1-on-1 consulting with Ketan and his YouTube Channel.

https://www.youtube.com/c/MinistryofNodes

1:28:40 The Bitcoin Bush Bash on 4th and 5th December in Murrurundi (link below)

Pod Shout-outs

https://twitter.com/stephanlivera

https://twitter.com/FriarHass

www.99bitcoins.com/bitcoin-obituaries

https://thismachinegreens.com/ (Bitcoin and the Future of Clean Energy Documentary)

https://bitcoinbushbash.info/

https://twitter.com/skwp (Inventing Bitcoin by Yan Pritzker)

Get a free copy from Swan Bitcoin

https://www.swanbitcoin.com/StackingHats?gc=yanbook1020&utm_campaign=yanbook1020

www.2bitidiots.com for links to the pod on your favourite app.

Of course you do!

Does that title seem a bit spammy?  It does, yes.  But, it is possible, and this pod will tell you how.

Many people still think you must buy a whole Bitcoin, and at around AUD65k a coin you’d be forgiven for thinking that it’s out of reach for the everyday person.

However, this is not true.  In the same way as $1 is made up of 100 cents, 1 Bitcoin is made up of 100,000,000 sats (short for Satoshis).  So, each Satoshi only costs around $0.0006.  Everyone can afford that!

@BitcoinBrendo and @StackingHats sit down to talk about the various ways you can get free sats or even earn sats:

https://use.foldapp.com/r/ALTHXAUK

https://www.lolli.com

https://thndr.games (Bitcoin Bounce and Turbo 84)

https://thesunexchange.com

We also touch on fiat rewards programmes, how many sats the average person has in the future and using Bitcoin as collateral.

Pod Shout-outs

https://twitter.com/wlrvs (Will Reeves, Fold App)

https://twitter.com/MattSenter (Matt Senter, Lolli)

https://twitter.com/jackeveritt (Jack Everitt, Thndr Games)

https://twitter.com/abecambridge (Abe Cambridge, The Sun Exchange)

https://twitter.com/maxkeiser (Max Keiser, The Keiser Report)

https://twitter.com/PricedinBTC (Priced in Bitcoin)

https://twitter.com/adam3us (Adam Back, Blockstream)

Contact Us

www.twitter.com/2BitIdiots (here if you’d like to be a Pod guest)

www.twitter.com/BitcoinBrendo

www.twitter.com/StackingHats

Or visit our website:

www.2bitidiots.com for links to the pod on your favourite podcast app.

Thanks for listening.

In this episode @BitcoinBrendo asks @StackingHats the question all real bitcoiners ask themselves regularly... “Are we right about Bitcoin?”

The answer might surprise you!

If you'd like to contact us, please do so via Twitter:

www.twitter.com/2BitIdiots (here if you’d like to be a Pod guest)

www.twitter.com/BitcoinBrendo

www.twitter.com/StackingHats

Or visit our website:

www.2bitidiots.com

The podcast is available on Apple Podcasts, Google Podcasts, Spotify, Anchor, Breaker, Pocket Casts, and Radio Public.

Thanks for listening.

‘Andy B Adviser’ is from England and now lives in Australia.  He started looking around for answers about money and savings around the time of the COVID crash, and has in a short time, become a Bitcoin maxi and Self-Managed Super Fund DCAer.

In this episode we dig into his fall down the rabbit hole, to help us understand why he considers Bitcoin his long-term savings solution to ensure his own financial security and that of his family.

He tells us how he has changed from a more “hand-to-mouth" existence, to someone with a low time preference.

He talks us through the process he followed, going from no-coiner to SMSF bitcoiner in 18 months, and the FUD (Fear, Uncertainty and Doubt) that he received from the legacy financial system about his decision and how you must consider your personal risk tolerance to ride the volatility that comes with being a Bitcoin hodler.

We discuss how he concluded that shitcoins were a waste of his time, and his experience orange-pilling his friends.

Loved the conversation, Andy.  Give him a follow. www.twitter.com/AndyBTCAdviser

Pod Shout-outs

www.twitter.com/SimplyBitcoinTV

www.twitter.com/ParkeraLewis

www.twitter.com/StephanLivera

www.twitter.com/michael_saylor

www.twitter.com/wclementeIII

www.twitter.com/jackmallers

www.twitter.com/prestonpysh

www.twitter.com/fossgregfoss

Books

21 Lessons – Gigi – www.amzn.to/3rNq5nv

Websites

www.bitbo.io

www.hope.com

www.cryptocloaks.com

www.strike.me

www.bluewallet.io

If you'd like to contact us, please do so via Twitter:

www.twitter.com/2BitIdiots (here if you’d like to be a Pod guest)

www.twitter.com/BitcoinBrendo

www.twitter.com/StackingHats

Or visit our website:

www.2bitidiots.com

The podcast is available on Apple Podcasts, Google Podcasts, Spotify, Anchor, Breaker, Pocket Casts, and Radio Public.

Thanks for listening.

I (Hats) had a DM exchange with Daniel a bit over a year ago, but other than that, we didn’t know each other. So, when we released our first episode (and had a few podcasting issues) I decided to reach out again to ask for some advice.

Daniel’s podcast Once Bitten, is one of our go-to pods for all things Bitcoin, and in the last couple of years he’s really established himself as not only a great host and interviewer, but as a source of reliable content.

There was no need for him to help us, but not only did he do that, he offered to come on as our first guest. Now, we’re not necessarily going after Bitcoin royalty as guests, but we weren’t going to refuse, and it was great to sit and chat about his journey so far.  Oh, and we got to meet Lauren so that’s also a highlight for us.

We’re still learning about the audio side of things, so bear with us, but we hope you enjoy the rip.

Please check out Daniel's Once Bitten podcast:

https://podcasts.apple.com/au/podcast/once-bitten/id1497540130

https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy8xMzQ2ZjllOC9wb2RjYXN0L3Jzcw==

And his book:

Choose Life: The Tools, Tricks and Hacks of Long-Term Family Travellers, Worldschoolers and Digital Nomads

https://amzn.to/3k1MaO3

If you'd like to contact us, please do so via Twitter:

https://twitter.com/2BitIdiots

Or visit our website:

https://www.bitcoin-first.com