Magic Internet Money

In this episode, Brad is joined by Alex Bosworth as they discuss the future of Bitcoin on the Lightning Network. Alex is a software lead at Lightning Network. He has experience working on open-source software and has experience creating backend exchange APIs. He also helped create a blockchain project to protect the integrity of the Royal Mint in the UK. As an accomplished developer and insider at the Lightning Network project, Alex has plenty of useful insights to share. The two get into several of the most relevant topics surrounding the Lightning Network, including Jack Dorsey-backed Square Crypto's unprecedented support for the Lightning Network. Tune for this and other interesting topics. 

Timestamps

00:00:00 - Intro by Brad

00:01:59 - Alex on his journey on Bitcoin

00:06:26 - Parallels between private app development and a user-focused side of Bitcoin 

00:12:07 - When can the average user use the Lightning Network?

00:17:58 - Where are we with the Lightning Network?

00:20:03 - How does the Lightning Network make money?  

00:31:25 - Why does batching save you money?

00:43:46 - Exchanges on adopting the Lightning Network

00:53:03 - The Lightning Loop and how can it help you

00:59:03 - Would the Lightning Network be able to support 1,2 billion users?

1:06:21 - How many people are working on the Lightning Network? 

1:14:25 - Delving into the Lightning Developer Kit by Square Crypto

1:27:22 - Folks at Edge Wallet and their beef with the Lightning Network

1:21:48 - Alex on providing liquidity on the Lightning Network, and can you too?

1:27:50 - What're a Lightning Network dev's hobbies? 

1:36:18 - Where to find Alex on social

Podcast Mentions

Portugal's no capital gains tax on crypto 

Germany's crypto-friendly law

SegWit

UTXO

Batching

Schnorr and Taproot 

UASF

Square Cash app's Lightning Development Kit (LDK)

Blockstream 

Find Alex Bosworth on:

Alex Bosworth Twitter 

Find Brad Mills on:

Brad Mills Twitter

Magic Internet Money Twitter

Magic Internet Money Facebook

Magic Internet Money Instagram

Thanks for watching another episode of Magic Internet Money Podcast. In this one, I sat with Garrett Gunderson. 

Garrett Gunderson is an author, standup comedian, financial educator & founder of Wealth Factory.

He's the writer of many bestselling financial books like 'What Would The Rockefeller's Do' & 'Killing Sacred Cows.'

Garrett was one of the few people in the financial industry who was prepared for the Coronavirus Market Crash.

Garrett lost a lot of money during the great financial collapse of 2008, and now he's helping people understand how to get through this crash without losing.

We will be discussing macro financial and political topics, advice for people with money to invest and for regular people who may be struggling to pay their bills currently.

Hope you enjoyed this week’s episode with Garrett Gunderson, you can find out more about him here:

Youtube: https://www.youtube.com/channel/UCs--ejlVMYcMZF4tUC8yNRQ

Twitter: https://twitter.com/gbgunderson

Find Garrett’s Books here: https://www.amazon.co.uk/Garrett-B.-Gunderson/e/B001JOS4UY%3Fref=dbs_a_mng_rwt_scns_share

Produced by Brad Mills - Twitter, Hamilton - YouTube, Jason Sanderson - Podcast TechOther Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of bitcoin & all cryptocurrencies by satoshi nakamoto.

Brad Mills is a partner at Xsquared Ventures. All opinions expressed by Brad & his guests do not reflect the opinions of Xsquared Ventures or Xsquared Ventures Management. Investing in cryptocurrencies is high risk and can get you rekt, do not treat any opinion expressed on this show as investment advice, but only as an expression of Brad’s opinion. This podcast is for informational purposes only. Do not attempt to HODL without doing your research first.

Topics Discussed:

- Garrett's book

- Garrett on The biggest transfer of wealth ever in 2020

- Purchase life insurance to be your own bank?

- Banks can just take assets to cover debt.

- What lessons can we learn from this market crash?

- Garrett on poverty - Nobody is coming to save you.

- What Garrett learned from 2008?

- Don’t get into crypto trading if you aren’t interested in forex and other markets

Garrett Gunderson is an author, standup comedian, financial educator & founder of Wealth Factory.

He's the writer of many bestselling financial books like 'What Would The Rockefeller's Do' & 'Killing Sacred Cows.'

Garrett was one of the few people in the financial industry who was prepared for the Coronavirus Market Crash.

Garrett lost a lot of money during the great financial collapse of 2008, and now he's helping people understand how to get through this crash without losing.

We will be discussing macro financial and political topics, advice for people with money to invest and for regular people who may be struggling to pay their bills currently.

Hope you enjoyed this week’s episode with Garrett Gunderson, you can find out more about him here:

Youtube: https://www.youtube.com/channel/UCs--ejlVMYcMZF4tUC8yNRQ

Twitter: https://twitter.com/gbgunderson

Find Garrett’s Books here: https://www.amazon.co.uk/Garrett-B.-Gunderson/e/B001JOS4UY%3Fref=dbs_a_mng_rwt_scns_share

Produced by Brad Mills - Twitter, Hamilton - YouTube, Jason Sanderson - Podcast Tech
Other Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of bitcoin & all cryptocurrencies by satoshi nakamoto.

Brad Mills is a partner at Xsquared Ventures. All opinions expressed by Brad & his guests do not reflect the opinions of Xsquared Ventures or Xsquared Ventures Management. Investing in cryptocurrencies is high risk and can get you rekt, do not treat any opinion expressed on this show as investment advice, but only as an expression of Brad’s opinion. This podcast is for informational purposes only. Do not attempt to HODL without doing your research first.

Topics Discussed:

- Garrett's book

- Garrett on The biggest transfer of wealth ever in 2020

- Purchase life insurance to be your own bank?

- Banks can just take assets to cover debt.

- What lessons can we learn from this market crash?

- Garrett on poverty - Nobody is coming to save you.

- What Garrett learned from 2008?

- Don’t get into crypto trading if you aren’t interested in forex and other markets

Thanks for watching another episode of Magic Internet Money. 

This week, we conducted a survey with one of North America's leading surveying companies, Hotspex.

In this podcast we sit down and analyse the results with the Hotspex Associate Director, Esther Vlessing who shared some intricate and interesting opinions on the show.

Hotspex was ‘Voted A Top Global Insights Innovator’ 6 Years in a Row.

(2014, 2015, 2016, 2017, 2018, 2019)

An article analyzing the survey can be found here for Brad’s personal opinions on the results.

Hope you enjoyed this week’s episode with Esther Vlessing, you can find out more about hotspex here:

hotspex.com

Twitter

Instagram

Survey Questions Discussed:

Hypothesis

A wealthy person gives you $10,000, what do you invest in?

Instinctively without googling, what do you think the US Dollar is backed by?

What do you think the US National Debt is?

How do you think USD has performed as a store of value over the past 100 years?

Would you be surprised to hear that the USD has lost 96% of its purchasing power over the last 100 years?

If you adjust for the drop in purchasing power of USD, what do you think the return would be?

What do you think creates the new USD?

What type of entity do you think the US Federal Reserve is?

Without googling, who do you think controls bitcoin?

Do you consider yourself knowledgeable about what bitcoin is?

Which asset do you think has been a better investment over the past 10 years compared to bitcoin?

If all the cash in the world is worth $80Trillion, all the gold is worth $8 Trillion, all real estate is worth $200 Trillion, what do you think all the bitcoin in the world is worth?

Do you trust banks?

If bitcoin succeeds as the electronic money of the internet, do you think it could ever increase in price 50x to be worth the same amount as gold? ($8 Trillion)

Conclusion

Produced by Brad Mills - Twitter, Hamilton - YouTube, Jason Sanderson - Podcast Tech
Other Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of bitcoin & all cryptocurrencies by satoshi nakamoto.

Brad Mills is a partner at Xsquared Ventures. All opinions expressed by Brad & his guests do not reflect the opinions of Xsquared Ventures or Xsquared Ventures Management. Investing in cryptocurrencies is high risk and can get you rekt, do not treat any opinion expressed on this show as investment advice, but only as an expression of Brad’s opinion. This podcast is for informational purposes only. Do not attempt to HODL without doing your research first.

Hope you enjoy this crossover episode with standup comedian Nick Beaton. We didn’t talk too much about Bitcoin this episode, it was a shorter one focused around the US election, focusing on the Julian Assange case & how the mainsteam news narratives around Wikileaks is fake. Nick has a podcast “Third Rail with Nick Beaton,” this was a crossover episode. If you want to check out Nick or his podcast, you can find out more about him here:

Nick’s Twitter

Third Rail with Nick Beaton

Nick’s standup

Produced by Brad Mills - Twitter, Hamilton - YouTube, Jason Sanderson - Podcast TechOther Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of bitcoin & all cryptocurrencies by satoshi nakamoto.

Brad Mills is a partner at Xsquared Ventures. All opinions expressed by Brad & his guests do not reflect the opinions of Xsquared Ventures or Xsquared Ventures Management. Investing in cryptocurrencies is high risk and can get you rekt, do not treat any opinion expressed on this show as investment advice, but only as an expression of Brad’s opinion. This podcast is for informational purposes only. Do not attempt to HODL without doing your research first.

Hope you enjoy this crossover episode with standup comedian Nick Beaton.

We didn’t talk too much about Bitcoin this episode, it was a shorter one focused around the US election, focusing on the Julian Assange case & how the mainsteam news narratives around Wikileaks is fake.

Nick has a podcast “Third Rail with Nick Beaton,” this was a crossover episode. If you want to check out Nick or his podcast, you can find out more about him here:

Nick’s Twitter

Third Rail with Nick Beaton

Nick’s standup

Produced by Brad Mills - Twitter, Hamilton - YouTube, Jason Sanderson - Podcast Tech
Other Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of bitcoin & all cryptocurrencies by satoshi nakamoto.

Brad Mills is a partner at Xsquared Ventures. All opinions expressed by Brad & his guests do not reflect the opinions of Xsquared Ventures or Xsquared Ventures Management. Investing in cryptocurrencies is high risk and can get you rekt, do not treat any opinion expressed on this show as investment advice, but only as an expression of Brad’s opinion. This podcast is for informational purposes only. Do not attempt to HODL without doing your research first.

Udi Wertheimer is a skeptic on most blockchain tokens. False marketing annoys him, he thinks Ethereum is fundamentally a bad investment, and the new DeFi movement is not decentralized at all. Show Notes:

• Living through the silliness of the 2017 crypto bubble
• How Udi thinks about the space then vs now
• Ethereum’s problems, comparing ETH then vs now
• DeFi is mostly centralized, comparing Tether to MakerDAO & Bitmex liquidations
• What if DAI was built on Bitcoin
• What is Liquid, why couldn’t ETH be built as a Bitcoin Sidechain

• Decentralization of sidechains vs native blockchains
• Chances of heavy regulation on ETH projects
• What would have to change to make Udi bullish on ETH
• Brad’s thesis on Cryptocurrencies in general
• The average investor has gambling tendencies
• mass adoption discussion, Paypal vs Bitcoin UX
• Macro discussion. Green new currency and modern monetary theory
• What it’s like living in Israel
• What Udi did before Bitcoin
• Politics discussion, Trump’s impact.
• Fairness in crypto  - BTC is not equally distributed but that’s normal
• Risks involved in mixing Bitcoin 
• Whitelisting bitcoin, blacklisting bitcoin and how that can void anonymity 
• Udi’s advice to noobs
• Gambling with Altcoins and managing risk
• Will Udi join the Tron army?
• ETH predictions

Reckless Review Podcast Twitter

Find Udi’s Telegram Channels here: 

• VR Bitcoin Meetup Group - Learn From & Network With Bitcoiners VR
• Udi’s Pro-Ethereum Alerts

Check out Udi’s TedTalk 

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Produced by Brad Mills - Twitter, Hamilton - YouTube, Jason Sanderson - Podcast Tech

Other Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of bitcoin & all cryptocurrencies by satoshi nakamoto.

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Brad Mills is a partner at Xsquared Ventures. All opinions expressed by Brad & his guests do not reflect the opinions of Xsquared Ventures or Xsquared Ventures Management. Investing in cryptocurrencies is high risk and can get you rekt, do not treat any opinion expressed on this show as investment advice, but only as an expression of Brad’s opinion. This podcast is for informational purposes only. Do not attempt to HODL without doing your research first.

• Brad’s summary of the alt market & ICO’s vs bitcoin
• The regulators haven’t really overstepped yet
• EOS and whether it’s a security
• The economic principles on tokens and why they tank
• Tokens vs Stocks
• Ameer’s issue with tokens
• The stock market and early investors law

• Is bitcoin really digital gold?
• People search for bitcoin(and libra)
• Meme narrative vs science narrative

• DAI in latin america
• Bitcoin vs DAI
• Trying to earn interest on traditional assets vs just hodling bitcoin
• ETH vs Bitcoin with investing

• Competitive projects in 2020
• SEO keywords organically
• Big projects are way too complicated for the average person

• Mainstream adoption difficulties
• Mining, hashpower and price
• Investors won't leave bitcoin
• Bitcoin to 1 million vs bitcoin to 0

• Are we in a capitalist or socialist society?
• If you squeeze a country, everyone will leave
• How does this economic situation play out?
• The US Navy vs Chinese defence genius
• Printing money to lower debt by increasing debt

• How to survive in an economic collapse

bitconnect theme by schmoyoho, edit by Jason Sanderson, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of bitcoin & all cryptocurrencies by satoshi nakamoto.

https://twitter.com/bradmillscan

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Ameer Rosic is the host of the Ameer Approved podcast, as well as the founder of Blockgeeks. I appeared as a guest on his show a couple of months ago, this is a crosspost! Hope you enjoy.
https://twitter.com/AmeerRosic

https://blockgeeks.com/

Ameer is a serial entrepreneur, educator and angel investor. Show notes:

Brad’s summary of the alt market & ICO’s vs bitcoin

The regulators haven’t really overstepped yet

EOS and whether it’s a security

The economic principles on tokens and why they tank

Tokens vs Stocks

Ameer’s issue with tokens

The stock market and early investors law

Is bitcoin really digital gold?

People search for bitcoin(and libra)

Meme narrative vs science narrative

DAI in latin america

Bitcoin vs DAI

Trying to earn interest on traditional assets vs just hodling bitcoin

ETH vs Bitcoin with investing

Competitive projects in 2020

SEO keywords organically

Big projects are way too complicated for the average person

Mainstream adoption difficulties

Mining, hashpower and price

Investors won't leave bitcoin

Bitcoin to 1 million vs bitcoin to 0

Are we in a capitalist or socialist society?

If you squeeze a country, everyone will leave

How does this economic situation play out?

The US Navy vs Chinese defence genius

Printing money to lower debt by increasing debt

How to survive in an economic collapse

--

Brad Mills is a partner at Xsquared Ventures. All opinions expressed by Brad & his guests do not reflect the opinions of Xsquared Ventures or Xsquared Ventures Management. Investing in cryptocurrencies is high risk and can get you rekt, do not treat any opinion expressed on this show as investment advice, but only as an expression of Brad’s opinion. This podcast is for informational purposes only. Do not attempt to HODL without doing your research first.

bitconnect theme by schmoyoho, edit by Jason Sanderson, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of bitcoin & all cryptocurrencies by satoshi nakamoto.

https://twitter.com/bradmillscan

—

Peter McCormack is the King of Bedford & the host of What Bitcoin Did (a top Bitcoin show) & Defiance Podcast.
https://twitter.com/PeterMcCormack

https://www.whatbitcoindid.com/

https://www.defiance.news/

Peter is a really hard worker, endlessly curious & genuinely good person - he practices radical transparency.

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Brad Mills is a partner at Xsquared Ventures. All opinions expressed by Brad & his guests do not reflect the opinions of Xsquared Ventures or Xsquared Ventures Management. Investing in cryptocurrencies is high risk and can get you rekt, do not treat any opinion expressed on this show as investment advice, but only as an expression of Brad’s opinion. This podcast is for informational purposes only. Do not attempt to HODL without doing your research first.