Bitcoin Dad Pod

By The Bitcoin DadTechnology

Bitcoin Dad Pod episodes

July 29, 2023Episode 93: FedNot
News
Fednow, the Federal Resrves new payment system for instant payments, has finally launched with '35 early-adopting banks and credit unions, as well as the U.S. Department of the Treasury’s Bureau of the Fiscal Service'
The US House of Representatives Fianncial Services Comittee, a House subgroup focusing on financial law, submitted a bipartisan crypto market bill to the Aggriculture Comitte (which oddly is above it)
This bill would then be submitted to the house, likely would not pass
Contains the language for ICOs to become sufficiently decentralized and graduate into commodities
Economics
Commodity traders Goehring and Rozencwajg the patterns of commodity bull runs and the relation to shifts in global monetary standards
Jesse Myers, aka CroessusBTC, observes the shifting Overton window of bitcoin and how very little interest it needs to get really bullish
Dedollarization slowly proceeds with Argentina using Chinese RMB to pay off IMF debt
Privacy
The Director of Investigations at Chainalysis, a blockchain surveillance and ant-privacy firm, unaware of scientific basis of their surveillance product
The actual recorded testimony clarifies that Chainalysis does not validate their results (why would they? Just trust us)
The FBI arrested the admin of a Mastadon server on charges unrelated to the server, but seized all his electronic devices (common clause in arrest warrants) wich included a backup of all server data
Just getting off twitter doesn't solve the problem of privacy online
Energy and Bitcoin
Yet another bitcoin argument for mining logically reaching zero emissions
But what's the real energy disconnect between Greenpeace/COP21 and bitcoin energy maximalists? Doomberg thinks that the core fallacy is the economic theory of degrowth that associates growth and environmental destruction.
Listen to Doomberg, Rozencwag, and Anas Alhaji on energy investing and shfiting ESG narratives
Bitcoin Education
Bitcoin Optech #261 covers lightning protocol discussions on the bitcoin dev mailing list, as well as an interesting stack overflow where Peter Wuille explains why a bitcoin seed should probably have more than 128 bits of entropy, but individual addresses don't
Feedback
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Sponsors and Acknowledgements
Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting
55 min
July 22, 2023Episode 91: Stock to Farce
Pre-Show
The FTX Foundation planned to buy the island of Naru to build a supervillain's lair
A bitmex blog post discusses Gary Gensler's history as CFTC comissioner during alleged gold price manipulation that turned out to be justified
News
Crosseus, a bitcoin institutional investor, reminds us that the stock to flow model still exists and might be direcitonally correct, of course its mathematically ridiculous
Regulatory arbitrage for crypto businesses is no walk in the park after Kuwait bans bitcoin
Economics
Is the US Government relying less on foreign financing of deficit spending or is the rest of the world not able to consume the current massive issueances of treasuries?
Altcoins
The XRP legal ruling is a bit more complicated than we thought, a great conversation from Coin Center
Bitcoin Education
A Bitcoin Talk describes how miners find valid blocks really well
Bitcoin Optech #260 features the last waiting for confirmation segment from Gloria Zhao and Merch
Feedback
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Sponsors and Acknowledgements
Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting
51 min
July 16, 2023Episode 90: XRP Army Strikes Back
Pre-Show
Celcius CEO Alex Mashinsky was arrested for fraud, finally.
News
Economics
Lyn Alden's latest market update builds on her article charting the relationship between interest rates and inflation. Since conventional central bank focused economics is posited on interest rates influencing inflation, it's a precient topic.
Lyn points to the International Monetary Fund's, a multinational financial organization, paper on using inflation and financial repression to solve goverment debt crisis
Altcoins
Ripple has won a victory over the SEC as a US judge rules that selling XRP tokens to VCs is illegal but fine when dumping on retail
The ruling is unlikely to hold and this case might be more about what happens to Etherium
The real question is how Bitcoin is interpreted via the Howey Test (PDF WARNING)
Proof of Stake on ETH has resulted in increased demand for liquid staking tokens, centralizing staking and network consensus, also average holdings are ~$100k so this is a big fish game, plebs need not apply
Bitcoin Education
Bitcoin Optech covers lightning protocol cleanup and more transaction relay discussion
Feedback
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From: @clarkian
58,008 sats
Episode 89: Not at all about Bitcoin
Great episode, gentlemen. Great discussion on mis/disinformation. Has been my thoughts on the issue for a while. I read this good article on KYC/AML and thought you might want to review. I worked at banks for a while and always had to take yearly training on it. Hate it. https://disruptives-horizons.com/p/kyc-aml-destroying-world
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Self Hosted Show courtesy of Jupiter Broadcasting
1 hr 5 min
July 09, 2023Episode 89: Not at all about Bitcoin
Pre-Show
BlackRock CEO Larry Fink is now promoting bitcoin on tv news
Binance Chief Strategy Officer Patrick Hillmann and Vice President for Compliance Steven Christie confirmed in tweets on Friday morning in Asia that they are leaving the world’s largest crypto exchange.
The confirmations came after Fortune reported multiple Binance senior executives were resigning amid regulatory investigations and lawsuits.
News
Economics
Christine Laguard's speach at the Council on Foreign Relations earlier this year, reveals the ECB announced the end of central bank independence and further fragmentation of the dollar system
She also casually points out that there are no property right guarantees in the dollar system:
> For a start, an economic policy mix that produces less volatile growth and inflation will be key in continuing to attract international investment. And although 50 to 60 percent of foreign-held U.S. short-term assets are in the hands of governments with strong ties to the United States—those that I think Janet Yellen calls the “friends,” meaning that they’re unlikely to be divested for geopolitical reasons—the single most important factor influencing international currency usage remains the strength of fundamentals. And by that, we know that it is the rule of law, strong respected institution, as well as open capital markets.
Privacy
The 'misinformation industrial complex' is being academically formalized and a Harvard think tank is refreshingly self-reflective on what that means for society
Bitcoin Education
Bitcoin Optech #258 is pretty thin reflecting the summer slowdown (we hope)
Feedback
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Value for Value
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Podverse (Cross platform and self hostable) + Alby for boosts
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Sponsors and Acknowledgements
Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting
50 min
July 03, 2023Episode 88: ETF Prime Time
Pre-Show
Crypto Firm Prime Trust Placed Into Receivership, affecting many bitcoin businesses
Crypto Firms Swan, Coinbits Disclose Prime Trust Ties as Fallout Continues - Decrypt
Alistair Milne on Twitter:
"This address: bc1ql49ydapnjafl5t2cp9zqpjwe6pdgmxy98859v2 ... has accumulated $3.5billion of #BTC in just 44 days @saylor needs to up his game @Tether_to is doing rookie numbers by comparison https://t.co/q5KHRUtoTZ" / Twitter
News
Apple is removing damus, a popular nostr client
jack on Twitter: "Removed from the App Storer for enabling tipping to everyone in the world without the need for a bank, payment card, or government permission. https://t.co/kfeQNfal8Q"
Economics
The Bank of England is aware of liquidity problems, but creates arbitrary research instead of lowering interest rates
Where is the recession we've all been waiting for?
OPEC oil output posts small drop in June ahead of Saudi cut
OPEC Forecasts 23% Rise in Global Oil Demand Through 2045
Bitcoin Education
A beginner's guide to creating a wallet using Sparrow
How to get started with RoboSats, another guide
You can Self-Host RoboSats
Boltz
Also an Umbrel app
A lean bitcoin optech
Feedback
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FROM: adriatic_dany
99,999 Sats
There's been some moderate hype (with the inevitable price speculation/manipulation aka p'n'd) last year around a proof of work project called Kaspa. I'm not invested (yet) because I'd love first to know your opinion, my technological analysis skills are lacking. I understand all the buzz is about their GhostDAG protocol posed to solve the historical dilemma way more efficiently than Lightning and the fact that they fair launched with no premined/presold coins and no company behind the project
Home - Kaspa
What is Kaspa (KAS), and How Does it Work? | CoinGecko
The Kaspa Founding Contributors. The Architects Behind Kaspa’s Success
Kaspa is the fastest, open-source, decentralized & fully scalable Layer-1 in the world.
The world’s first blockDAG – a digital ledger enabling parallel blocks and instant transaction confirmation – built on a robust proof-of-work engine with rapid
single-second block intervals.
Built by industry pioneers, led by the people.
"completely open source with no central governance – following in the ethos of coins like Bitcoin, Litecoin, or Monero."
💰 Initial funding from Polychain Capital supported Kaspa's launch, and the project forgoes allocations or premine to ensure transparency and fairness.
👥 Yonatan Sompolinsky, Michael Sutton, Shai Wyborski, Elichai Turkel, Ori Newman, and Mike Zak are key contributors and core developers of Kaspa.
Launch Date
November 7, 2021
(no premine, no allocated coins)
Uses lots of Rust, Go, and others
KAS has a circulating supply of 12.4B and maximum supply of 28.7B. It was launched with no re-mine, 0 pre-sales, and no token allocations.
It has an emission program that halves yearly through seamless monthly reductions by a factor of (1/2)1/12.
Hashing Algorithm
kHeavyHash
Consensus
Proof of Work
BlockDAG
How they solve the Blockchain Trilemma
To solve this tradeoff, Kaspa’s consensus layer uses GhostDAG, a proof-of-work consensus protocol that generalizes Nakamoto’s chain into a directed acyclic graph of blocks ( blockDAG). GhostDAG incorporates”orphan” blocks into the chain to form a blockDAG, and then uses a novel greedy algorithm to order the blocks such that well-connected, honest blocks are favored, quickly and with high probability. GhostDAG allows Kaspa to circumvent the traditional tradeoff of blockchains, improving on block rate by orders of magnitude while maintaining the theoretical security guarantees of Bitcoin.
Block time
1 second
Circulating Supply
19.39B KAS
MAX SUPPLY
~28.7B
Market Cap
$501.8M
Kaspa Forum Filled with Problems
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Sponsors and Acknowledgements
Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting
1 hr 15 min
July 01, 2023Episode 87: Interview: Scaling, Development, and Drivechains with Paul Sztorc
Interview: Paul Sztorc
Paul's vision of scaling is built on his proposal for drivechains, sidechains that hold coins using bitcoin miner escarow
Pauls proposal of thunder, a way to scale sidechains on bitcoin
The mathematical limitations of lightning network scaling on bitcoin
Hal Phinney on intrade and prediction markets
The pre-Blockstream sidechains paper that formed the basis for the Liquid Sidechain
The original Scaling Bitcoin Conference that Paul mentioned
The BitDNS conversation on bitcointalk.org
The New Yorker Magazine convered the dramatic end of intrade, and controversy surrounding its' CEO
Paul's Drive Chain Insiders telegram group
Feedback
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Value for Value
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Sponsors and Acknowledgements
Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting
1 hr 58 min
June 25, 2023Episode 86: Accidental Orange Pill
Pre-Show
Coinmetrics can accurately predict bitcoin global energy use by fingerprinting ASIC chips through their nonce values
The worst data scientist RE bitcoin energy debates his model with bitcoiners, give it a listen
News
The NYT laments the end of the hallucination of a sustainable globalized economy and begins to orangepill its' readers
“Financial globalization was supposed to usher in an era of robust growth and fiscal stability in the developing world,” said Jayati Ghosh, an economist at the University of Massachusetts Amherst. But “it ended up doing the opposite.”
Economics
Arthur Hayes on the fungible nature of capital and why U.S. anti-crypto moves are irrelevant
Bitcoin Education
Bitcoin Optech Newsletter #256 discusses the dry but consensus shaping implications of different transaction relay policies, which helps illustrate the hot mess of decentralized consensus and how this really is a huge experiment
On the other end of the spectrum, identical policies across the network help converge mempool contents. A network with matching mempools relays transactions the most smoothly, and is also ideal for fee estimation and compact block relay as mentioned in previous posts.
Feedback
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Consider joining the matrix channel using a matrix client like element, details here
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Value for Value
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Podverse (Cross platform and self hostable) + Alby for boosts
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Sponsors and Acknowledgements
Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting
31 min
June 17, 2023Episode 85: Privately Paying the World
News
Apple banned and then unbanned the zeus lightning app from its app store
Part of a wider policy of banning bitcoin apps that facilitate payments
Another poposed crypto infrastructure bill in the US House of Representatives looks like another Left/Right issue
River, a bitcoin financial company, issued a report on bitcoin vs legacy payments
Response to 2022's ECB report that concluded bitcoin can't win vs CBDCs
Economics and Banking
The Cato Institute, an American libertarian thinktank, polled americans about CBDCs and the results speak to the complexity of money, status, and politics
The SEC may be talking back its own limitations on allowing a b2b CBDC
Privacy
Also from the CATO CBDC poll, some American's might be ok with government surveillance in their own home if it protected against crime
Bitcoin Education
Bitcoin Optech #255 covers a discussion on the taproot annex a place for additional data for taproot transactions as well as the recent silent payments BIP
Network node count is one measure of decentralization, but there are subjective elements
Feedback
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Value for Value
Podcasting 2.0 to support an indepenent podcasting ecosystem
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Podverse (Cross platform and self hostable) + Alby for boosts
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Sponsors and Acknowledgements
Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting
Feedback
Remember to get in touch [email protected] or @bitcoindadpod on twitter
Consider joining the matrix channel using a matrix client like element, details here
Thank you Boosters
If you get some value from this show, please consider sending a boost. Hearing from you means a lot to us!
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Value for Value
Podcasting 2.0 to support an indepenent podcasting ecosystem
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Fountain podcast app (Android)
Podverse (Cross platform and self hostable) + Alby for boosts
Castamatic (Apple)
Sponsors and Acknowledgements
Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting
47 min
June 11, 2023Episode 84: Patience is Golden
News
Sec complaint against Coinbase is an interesting read and includes the Coinbase self-custodial wallet as a target
The U.S. Justice Department claims two Russian nationals laundered 647k bitcoin from the Mt. Gox hack
Economics and Banking
Arthur preaches patience in waiting for the fiat liquidity situation to work out
The In Gold we Trust report is back and the theme is Stagflation
Bitcoin Education
Bitcoin Optech covers a demonstration of a less efficient op code in stead of OP_CTV using a merkalize all the things (MATT) component
Feedback
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Value for Value
Podcasting 2.0 to support an indepenent podcasting ecosystem
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Sponsors and Acknowledgements
Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting
1 hr 24 min
June 08, 2023Episode 83: Interview: Burak on Ark
Interview: Burak on ARK
Burak's Links
His blog on medium
The [ark project](arkpill.me) website
Ark telegram group for asking questions
Links Related to Ark Conversation
A description of ark as a coinpool protocol in the Bitcoin Optech Newsletter #253
Ruben Somsens' ark explanation on github
Feedback
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Thank you Boosters
If you get some value from this show, please consider sending a boost. Hearing from you means a lot to us!
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Find the Bitcoin Dad Pod on the Podcast Index
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Value for Value
Podcasting 2.0 to support an indepenent podcasting ecosystem
Recomended Podcasting2.0 apps:
Fountain podcast app (Android)
Podverse (Cross platform and self hostable) + Alby for boosts
Castamatic (Apple)
Sponsors and Acknowledgements
Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting
46 min

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The Bitcoin Dad is here to explain the context around the monetary revolution that is Bitcoin. The technological, social, and financial complexities of Bitcoin are hard to understand and your Bitcoin…

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