Bitcoin Node Runner

Time Preference and the Future of Bitcoin | Bitcoin Node Runner 005

PerkINsights and BitLovin close out the four issues from The Blocksize War by Jonathan Bier with the last one: what time preference should the Bitcoin network operate on? We get into what high and low time preference actually mean, and why deflation is treated as a dirty word in most economics education even though it may be backwards. We also cover the difference between Keynesian and Austrian economics, why Austrians favor hard money, and the strongest version of the big blocker argument given what anyone could reasonably know back in 2015.

Disclaimer: This is not financial, legal, or tax advice. Ideas expressed are opinions and general education. This is not a recommendation to buy, sell, or use anything. We don't audit the products we talk about, and nothing here is a guarantee your money is safe. Verify everything yourself. Never risk what you can't afford to lose.

Links:

Bitcoin Node Runner:

YouTube: https://www.youtube.com/@BTCNodeRunner

Podcast: https://rss.com/podcasts/bitcoin-node-runner/

TikTok: https://www.tiktok.com/@btcnoderunner

PerkINsights:

TikTok: https://www.tiktok.com/@perkinsights

BitLovin:

https://linktr.ee/Bit.Lovin

Do Ordinary Bitcoin Node Runners Actually Matter? | Bitcoin Node Runner 004

PerkINsights and BitLovin take on issue three of The Blocksize War by Jonathan Bier: to what extent should the validating nodes of ordinary users have a say in enforcing Bitcoin's protocol rules? Before getting to the book, we cover the Clarity Act and what it would and wouldn't do for Bitcoin, then walk through three privacy tools people often lump together — mixers, coinjoins, and payjoins — and why the custody difference between them matters. From there we work through what developers, miners, and node runners each think the everyday user is worth to the network, why the miners backed big blocks for reasons that had nothing to do with fees, and what BIP 110 showed about where node runner influence actually sits.

Disclaimer: This is not financial, legal, or tax advice. Ideas expressed are opinions and general education. This is not a recommendation to buy, sell, or use anything. We don't audit the products we talk about, and nothing here is a guarantee your money is safe. Verify everything yourself. Never risk what you can't afford to lose.

Links:

Bitcoin Node Runner:

YouTube: https://www.youtube.com/@BTCNodeRunner

Podcast: https://rss.com/podcasts/bitcoin-node-runner/

TikTok: https://www.tiktok.com/@btcnoderunner

PerkINsights:

TikTok: https://www.tiktok.com/@perkinsights

BitLovin: https://linktr.ee/Bit.Lovin

PerkINsights and BitLovin work through issue two of The Blocksize War by Jonathan Bier: should the rules of the Bitcoin protocol change relatively easily, or only in exceptional circumstances with broad support from all interested parties? We start with a real Lightning payment that came in at $102 instead of $100 and why that happens, then get into what robust actually means for a protocol, why nimble usually means centralized, and quantum computing as the test case. We also cover what a chain split means for your coins, why self custody keeps your options open in a way an ETF does not, and who really counts as an interested party in Bitcoin.

Disclaimer:

This is not financial, legal, or tax advice. Ideas expressed are opinions and general education. This is not a recommendation to buy, sell, or use anything. We don't audit the products we talk about, and nothing here is a guarantee your money is safe. Verify everything yourself. Never risk what you can't afford to lose.

Links:

Bitcoin Node Runner:

YouTube: https://www.youtube.com/@BTCNodeRunner

Podcast: https://rss.com/podcasts/bitcoin-node-runner/

TikTok: https://www.tiktok.com/@btcnoderunner

PerkINsights:

TikTok: https://www.tiktok.com/@perkinsights

BitLovin:

https://linktr.ee/Bit.Lovin

Episode two of the Bitcoin Node Runner podcast. PerkINsights and BitLovin work through the first of four issues at the center of The Block Size War, the book by Jonathan Bier about the fight over Bitcoin's base layer.

We start with a quick recap of the bridge analogy and the three participants in the Bitcoin protocol: developers as the architects, miners as the builders, and nodes as the inspectors. Then we get into issue one. Should Bitcoin blocks have surplus room in them, or should they stay consistently full?

Both sides of this argument came from people who cared about Bitcoin. One camp saw it as a payments network competing with Visa and wanted bigger blocks to fit more transactions. The other camp wanted to protect decentralization and security at the base layer, even if that meant giving up scalability there.

We also talk about pruned nodes versus full nodes, why scarce block space matters for miner incentives once the block subsidy runs down, and how Moore's law factors into whether everyday people can keep running a node as the blockchain grows.

In this episode:

0:07 Welcome and what this show is about

1:33 The Block Size War and why we recommend it

4:17 Recap: the bridge, developers, miners, and nodes

6:02 Disclaimer

6:32 Issue one: block size and block space

7:35 2015 and the two camps

8:30 The Overstock.com story

9:47 The blockchain trilemma

10:41 Why protocols get built in layers

12:29 Staying neutral in node education

13:29 Decentralization is inefficient, and that is the point

17:29 Bitcoin's constitutional convention

18:45 The best argument for bigger blocks

19:30 Pruned nodes explained

21:09 Lightning, Steak n Shake, and Square terminals

22:09 Final settlement and chargebacks

23:08 Pruned node vs. full node

25:54 Fees, the block subsidy, and halvings

27:25 Why scarce block space secures the network

29:05 Keeping blocks small so everyday people can participate

30:22 Moore's law and the growing blockchain

31:31 Wrap-up

Disclaimer: This is not financial, legal, or tax advice. Ideas expressed are opinions and general education. This is not a recommendation to buy, sell, or use anything. We don't audit the products we talk about, and nothing here is a guarantee your money is safe. Verify everything yourself. Never risk what you can't afford to lose.

Follow along:

Bitcoin Node Runner

YouTube: https://www.youtube.com/@BTCNodeRunner

RSS Feed: https://media.rss.com/bitcoin-node-runner/feed.xml

Podcast: https://rss.com/podcasts/bitcoin-node-runner/

PerkINsights

TikTok: https://www.tiktok.com/@perkinsights

BitLovin

TikTok: https://www.tiktok.com/@bit.lovin

YouTube: https://www.youtube.com/@Bit_Lovin

Apple Podcasts: https://podcasts.apple.com/us/podcast/bitlovin/id6792814785

Welcome to the first episode of the Bitcoin Node Runner podcast. PerkINsights and BitLovin are here to make running a full Bitcoin node make sense for regular people. One host asks the 101 questions, the other goes deeper for anyone ready for it.

We start with the difference between owning Bitcoin the asset and understanding the network underneath it, why decentralization makes the network hard to shut down, and what a protocol actually is. Then we walk through the three main participants using a bridge analogy: developers as the architects who write the rules, miners as the builders who put the blocks together, and nodes as the inspectors who verify everything before it gets added.

We also get into what makes node verification so remarkable. Every ten minutes or so, your node audits the entire Bitcoin supply. That kind of resistance to counterfeiting is something no other form of money can offer.

Running a node is one of the few ways an everyday person can participate in a global financial system directly, no bank involved. That's what this show is about.

Disclaimer: This is not financial, legal, or tax advice. Ideas expressed are opinions and general education. This is not a recommendation to buy, sell, or use anything. We don't audit the products we talk about, and nothing here is a guarantee your money is safe. Verify everything yourself. Never risk what you can't afford to lose.

Follow along:

Bitcoin Node Runner

YouTube: https://www.youtube.com/@BTCNodeRunner

RSS Feed: https://media.rss.com/bitcoin-node-runner/feed.xml

Podcast: https://rss.com/podcasts/bitcoin-node-runner/

PerkINsights

TikTok: https://www.tiktok.com/@perkinsights

BitLovin

TikTok: https://www.tiktok.com/@bit.lovin

YouTube: https://www.youtube.com/@Bit_Lovin

Apple Podcasts: https://podcasts.apple.com/us/podcast/bitlovin/id6792814785