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Unchained episodes
- Unconfirmed: Why It Doesn’t Make Sense to Compare Lightning to DeFi - Ep.279
Ryan Gentry, business development lead at Lightning Labs, discusses the latest updates on the Lightning Network, the layer 2 solution for Bitcoin. Highlights:
- how Lightning Network is bringing Bitcoin to the masses through partnerships with Twitter, Substack, and Paxful
- what the significance of El Salvador adopting Bitcoin means for the Lightning Network
- how many nodes are running Lightning Network nodes
- why the capacity on the Lightning Network has grown rapidly
- how Ryan has seen interest in Lightning has changed since the El Salvador announcement earlier this year
- what stage of adoption Ryan thinks the Lightning Network is
- why Lightning Network total-value-locked should not be compared to Ethereum L2s or other DeFi protocols
- how Lightning Network differs from DeFi
- what metric Ryan believes is the best way to measure adoption on Lightning Network
- how El Salvador has changed the types of transactions being made on Lightning Network
- what’s next for Lightning Network and how Lightning micropayments could affect how podcasts (like Unchained!) are distributed
Thank you to our sponsors!
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
Nodle: https://bit.ly/3AXGydJ
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Episode Links
Ryan Gentry
- Twitter: https://twitter.com/ryanthegentry
The Summer of Lightning: Reaching the Tipping Point
https://lightninglabs.substack.com/p/the-summer-of-lightning-reachingLightning Labs
- Twitter: https://twitter.com/lightning
- Website: https://lightning.engineering/
Lightning Enabled Tips
- Twitter:
-
https://blog.twitter.com/en_us/topics/product/2021/bringing-tips-to-everyone- Substack:
- https://decrypt.co/79215/substack-accept-bitcoin-payments-lightning-network
Paxful Integration
https://bitcoinmagazine.com/business/paxful-integrates-bitcoin-lightning-networkArcane Research Paper
- Paper:
-
- https://static1.squarespace.com/static/60377b34e7791c1277aaae97/t/615cb9aeaab8c63e1a732771/1633466815710/The+State+of+Lightning.pdf
- Tweet thread:
-
- https://twitter.com/ArcaneResearch/status/1445749299703205894
Lightning Network stats
- https://studio.glassnode.com/metrics?a=BTC&c=native&category=Lightning&chartStyle=column&contractExpiration=1640908800&ema=0&m=lightning.NetworkCapacitySum&mAvg=0&mMedian=0&resolution=24h&zoom=all
- https://1ml.com/statistics
Lightning Network Resources
https://www.lopp.net/lightning-information.htmlPreston Pysh episode with BTC Sessions
https://www.youtube.com/watch?v=E5bBJjVEg1ULearn more about your ad choices. Visit megaphone.fm/adchoices
38 min - How the Greatest Decentralizing Force for Crypto Projects Is the SEC - Ep.278
How does the SEC determine if a token is a security? Why is DeFi particularly hard to regulate? What will regulators do about stablecoins? On Unchained, Greg Xethalis, chief compliance officer at Multicoin Capital, and Collins Belton, founding partner at Brookwood P.C., dive into crypto regulation, discussing securities laws, DeFi regulation, and why the US should be promoting stablecoins rather than trying to shut them down. Highlights:
- why the SEC and CFTC have not announced bigger crypto enforcement news at the end of their fiscal years
- why the SEC is going after DINO (decentralized in name only) companies
- what the Howey and Reves tests areand how the SEC uses themto determine whether an asset is a security or not
- why Collins and Greg think the SEC has recently begun been applying Reves more often
- why they think centralized crypto lending products should not be considered securities under the Howey test
- whether new legislation needs to be written for cryptocurrency-based products
- what makes Collins think the SEC is being “disingenuous” regarding the SEC registration process for crypto companies, like Coinbase
- how regulators will end up handling DeFi and why both Greg and Collins are long-term optimistic
- how the US government has a “great history” of respecting privacy and encryption
- why regulatory pressure is likely to build up around centralized crypto exchanges and what we can learn from the EtherDelta case
- why Collins thinks most cryptocurrency companies should be regulated
- why the SEC is the best motivator for forcing protocols to fully decentralize
- how smart contracts could theoretically be used to standardize SEC Commissioner Hester Peirce’s Safe Harbor proposal
- how blockchain data makes cryptocurrency companies more transparent and easier to regulate than centralized entities
- what Collins and Greg think will happen with stablecoin regulation going forward
- why the US should be pushing to make dollar-pegged stablecoins more prominent
Take the Unchained survey!
Have idea son how we can improve at Unchained? Let us know. This is the last week in which you can take the Unchained survey and be entered to win a BTC Candle. Be sure to end by EOD Friday. We'll be announcing the winners in next week's show. https://www.surveymonkey.com/r/unchained2021
Thank you to our sponsors!
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
Nodle: https://bit.ly/3AXGydJ
Episode Links
Greg Xethalis
- Twitter: https://twitter.com/xethalis
- LinkedIn: https://www.linkedin.com/in/xethalis/
Collins Belton
- Twitter: https://twitter.com/collins_belton
- LinkedIn: https://www.linkedin.com/in/collins-belton-10226283/
Cases Mentioned
- SEC charged DeFi Money Market
https://www.coindesk.com/markets/2021/08/06/sec-charges-so-called-defi-company-for-allegedly-fraudulent-30m-offering/- SEC charged EtherDelta
https://www.coindesk.com/markets/2018/11/08/sec-charges-etherdelta-founder-over-unregistered-securities-exchange/- Howey Test and Reves Test
- https://securities-law-blog.com/2014/11/25/what-is-a-security-the-howey-test-and-reves-test/
https://skrypto.sewkis.com/howeys-cousin-reves-may-be-another-way-for-the-sec-to-argue-that-tokens-are-securitieshttps://www.creditslips.org/creditslips/2021/09/coinbase-and-the-sec-.html- DINO
https://twitter.com/hesterpeirce/status/1423637816492318722?lang=en-uniswap-labs-investigation-could-signal-a-new-era-of-enforcementLearn more about your ad choices. Visit megaphone.fm/adchoices
1 hr 16 min - Unconfirmed: People Expected a Big SEC Enforcement Action This Week. What Happened? Days - Ep.277
Stephen Palley, partner at Anderson Kill, discusses a few hot-button crypto regulatory issues like lending products, whether DeFi protocols fall under the SEC’s purview, and more. Show highlights:
- why Stephen thinks the SEC and CFTC did not announce more extensive crypto enforcement news this week
- what areas the SEC Chair Gary Gensler and the SEC as a whole are focused on regulating
- what Stephen has heard about whether stablecoins that are not fully-backed are securities
- why Coinbase decided to drop its Lend product
- why Stephen is skeptical that decentralized protocols should be regulated under existing securities laws
- how securities law is contrary to consumer protection in light of DeFi protocols and airdrops
- why DeFi AMMs should be regulated differently than centralized market books
- whether companies running a front-end for a DeFi protocol should be considered an exchange
- why crypto devs are “going Satoshi” because of US securities laws
Thank you to our sponsors!
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
Nodle: https://bit.ly/3AXGydJ
Sorare: https://sorare.com
Episode Links
Stephen Palley
- Twitter: https://twitter.com/stephendpalley
- Unchained podcast appearance speaking about Ripple: https://unchainedpodcast.com/the-secs-lawsuit-against-ripple-and-2-execs-what-you-need-to-know/
Topics Covered
Lending Products
- Coinbase blogs regarding Lend
-
https://blog.coinbase.com/the-sec-has-told-us-it-wants-to-sue-us-over-lend-we-have-no-idea-why-a3a1b6507009- https://blog.coinbase.com/sign-up-to-earn-4-apy-on-usd-coin-with-coinbase-cdad79e5f5eb
- Lend overview: https://www.jdsupra.com/legalnews/a-september-to-remember-coinbase-avoids-7608131/
- Brian Armstrong angry tweet storm
-
- https://twitter.com/brian_armstrong/status/1435439291715358721
- BlockFi and Celsius overview
-
https://www.coindesk.com/policy/2021/09/17/3-states-alabama-securities-commission-also-claims-celsius-violated-securities-laws/SEC + Gary Gensler
- How SEC Chair Gary Gensler’s Views on Crypto Have Changed Since His MIT Days
-
- https://unchainedpodcast.com/how-sec-chair-gary-genslers-views-on-crypto-have-changed-since-his-mit-days/
- SEC Chair Gary Gensler Washington Post Q&A
-
https://www.washingtonpost.com/washington-post-live/2021/09/21/transcript-path-forward-cryptocurrency-with-gary-gensler/- Gary Gensler + Elizabeth Warren letters
https://www.warren.senate.gov/newsroom/press-releases/warren-releases-response-from-sec-chair-gensler-affirming-need-to-regulate-cryptocurrency-exchanges-and-protect-investors-and-our-financial-systemOther
- Uniswap delisting certain tokens through its front end
-
https://www.theblockcrypto.com/linked/112399/uniswap-labs-culls-synthetic-stock-and-derivatives-citing-evolving-regulatory-landscapeLearn more about your ad choices. Visit megaphone.fm/adchoices
36 min - Crypto Actually Fixes This: How Code to Inspire Uses Crypto in Afghanistan - Ep.276
Fereshteh Forough is the founder and CEO of Code to Inspire, a coding school for girls in Afghanistan. She discusses her background as a refugee, how she uses crypto to fund the school and pay students, and how the US military’s departure has affected student life. Topics include:
- Fereshteh’s journey from refugee to computer science professor to founder and CEO of Code to Inspire
- what Code to Inspire offers to young Afghan women and what risks they take by getting an education
- how Code to Inspire success stories are changing the attitudes of student’s families and communities
- the importance of Afghan Hero Girl, a video game created by Code to Inspire students
- why crypto payments are a better alternative to PayPal and Western Union for Code to Inspire and its students
- how Code to Inspire and its students exchange crypto to fiat
- what the perception of crypto is in Afghanistan
- how the Taliban is stifling the education of women and how Code to Inspire is attempting to continue its curriculum
- how crypto companies can offer assistance to Code to Inspire
- what features and products Fereshteh thinks would the crypto industry actually bank the unbanked
- how listeners can help Code to Inspire and where to find more information on Fereshteh
Thank you to our sponsors!
Ledger: https://www.ledger.com/start-your-crypto-journey/?utm_source=Unchained&utm_medium=Partnership_Podcast&utm_campaign=14-09-Ledger-US-Brand-Paid&utm_content=subj_Global__msg_brand_convenience__targ_Crypto
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
Digital Asset Research: https://www.digitalassetresearch.com/
Episode Links
Fereshteh Forough
- Twitter: https://twitter.com/f_forough
- LinkedIn: https://www.linkedin.com/in/fereshtehforough/
Code to Inspire
- Instagram: https://www.instagram.com/codetoinspire/
- Twitter: https://twitter.com/CodeToInspire
- Website: https://www.codetoinspire.org/
- Donating crypto: https://www.codetoinspire.org/donate-crypto/
- Services offered:
https://www.codetoinspire.org/hire-a-cti-graduate/Code to Inspire Coverage
- Forbes
-
- https://www.forbes.com/sites/stevenehrlich/2021/08/17/taliban-resurgence-could-threaten-afghan-school-teaching-women-to-code-and-build-ethereum-apps/?sh=465a8208197d
- The Giving Block
-
- https://thegivingblock.com/donate/Code-to-Inspire/
- Code to Inspire students are coding at home
-
https://cointelegraph.com/news/amid-taliban-takeover-aspiring-crypto-miner-flees-afghanistan- CoinDesk on Code to Inspire + ETH
https://www.coindesk.com/markets/2018/06/12/forget-prices-ethereum-is-offering-a-different-value-in-afghanistan/- Coinbase
- https://blog.coinbase.com/fereshteh-forough-interview-1e73a684788f
- Inverse
- https://www.inverse.com/innovation/57129-fereshteh-forough-afghanistan-bitcoin
- Afghan Hero Girls
- https://www.gamesindustry.biz/articles/2019-04-19-code-to-inspire-is-creating-afghan-hero-girls-through-education
US Military leaving Afghanistan
- https://www.cbsnews.com/news/afghanistan-withdrawal-united-states-troops-pentagon/
https://www.wsj.com/articles/last-u-s-troops-leave-afghanistan-after-nearly-20-years-11630355853Learn more about your ad choices. Visit megaphone.fm/adchoices
55 min - Unconfirmed: How SEC Chair Gary Gensler's Views on Crypto Have Changed Since His MIT Days - Ep.275
Nik De, managing editor for global policy and regulation at CoinDesk, stops by Unconfirmed to discuss the current state of crypto regulation, including recent comments by SEC Chair Gary Gensler on stablecoins and why Coinbase decided to sideline its Lend product. Highlights:
- Nik’s biggest takeaway from Gary Gensler’s interview with the Washington Post
- why Nik thinks Gensler has escalated his rhetoric regarding stablecoins and DeFi
- how crypto exchanges are currently regulated and how that might change
- what it would take to convince crypto exchanges to register with the SEC
- whether the SEC has the purview to regulate stablecoins
- Nik’s thoughts on Coinbase’s Lend product and the SEC’s stance on lending products
- what the overall picture of crypto lending is in the US
- whether the SEC will go after DeFi protocols
- what to expect from the SEC going forward, especially with the end of its fiscal year coming up next week
Thank you to our sponsors!
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
Digital Asset Research: https://digitalassetresearch.com
Sorare: https://sorare.com
Episode Links
Nikhilesh De
- CoinDesk articles: https://www.coindesk.com/author/nikde/
- Twitter: https://twitter.com/nikhileshde
Content
- Coinbase blogs regarding Lend
-
https://blog.coinbase.com/the-sec-has-told-us-it-wants-to-sue-us-over-lend-we-have-no-idea-why-a3a1b6507009- https://blog.coinbase.com/sign-up-to-earn-4-apy-on-usd-coin-with-coinbase-cdad79e5f5eb
- SEC Chair Gary Gensler Washington Post Q&A
-
- https://www.washingtonpost.com/washington-post-live/2021/09/21/transcript-path-forward-cryptocurrency-with-gary-gensler/
- Brian Armstrong tweet storm
-
- https://twitter.com/brian_armstrong/status/1435439291715358721
- BlockFi and Celsius overview
-
https://www.coindesk.com/policy/2021/09/17/3-states-alabama-securities-commission-also-claims-celsius-violated-securities-laws/Read my latest Medium post, “The Reason Crypto Regulation Is Turning Out to Be So Difficult,” which takes take a deeper dive into some of the topics addressed in this pod :)
- https://medium.com/@laurashin/the-reason-crypto-regulation-is-turning-out-to-be-so-difficult-788cc134958d
Learn more about your ad choices. Visit megaphone.fm/adchoices
33 min - How OG Crypto Artist Rhea Myers Sold a Never-Seen Artwork at Sotheby's - Ep.274
Rhea Myers, artist, hacker, writer, and senior smart contract developer at Dapper Labs, has been making crypto art before NFTs were a thing. Check out this episode to learn about Rhea’s work as an OG crypto artist, why she believes concerns over NFT energy consumption are overblown, and how NFTs are changing the art world. Show highlights
- Rhea’s experience entering the crypto space
- what inspired her to make Bitcoin-based transaction art
- what blockchain art she was creating in 2014
- how she helped Coin Artist create crypto puzzles
- what Rhea thinks about Cadence, the programming language for Flow
- what conceptual art and blockchain art have in common
- how Rhea minted her soul on a Dogecoin fork
- how Rhea came up with the idea of Secret Artwork (Content), which was recently sold at a Sotheby’s auction
- what cryptographic elements influenced Secret Artwork (Content)
- why Rhea was wrong about how the NFT industry would evolve
- why Rhea believes concerns over NFT energy usage are overblown
- how NFTs are changing the art world
- what Rhea thinks about the NFT DAO movement
- what about NFTs make them so fascinating, in a legal sense, to Rhea
Read the sidebar — and see Rhea's artwork!
If you'd like to see the art discussed in the show, be sure to check out the sidebar I wrote on Medium:
https://medium.com/@laurashin/how-rhea-myers-made-blockchain-art-before-nfts-were-a-thing-e6ac52d3abf9
Thank you to our sponsors!
Ledger: https://www.ledger.com/start-your-crypto-journey/?utm_source=Unchained&utm_medium=Partnership_Podcast&utm_campaign=14-09-Ledger-US-Brand-Paid&utm_content=subj_Global__msg_brand_convenience__targ_Crypto
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
Digital Asset Research: https://www.digitalassetresearch.com/
Episode Links
Rhea Myers
- Twitter: https://twitter.com/rheaplex
- Website: https://rhea.art/
- LinkedIn: https://www.linkedin.com/in/robertmyers/
Example Art
- Secret Artwork (Content)
-
https://www.sothebys.com/en/buy/auction/2021/natively-digital-a-curated-nft-sale-2/secret-artwork-content- MYSOUL
-
https://www.artnews.com/art-in-america/features/nft-joke-1234588596/- Is Art
https://rhea.art/is-art- Proof Of Existence 2, 2014, Bitcoin Transaction
https://rhea.art/proof-of-existence- Art examples
- https://rhea.art/art
Other
- Artists Rethinking the Blockchain (book)
-
https://torquetorque.net/publications/artists-rethinking-the-blockchain/- Generative art (featuring Rhea Myers)
https://medium.com/@mitchellfchan/nfts-generative-art-and-sol-lewitt-e99a5fa2b0cb- Blockade games + crypto puzzles
- https://blockade.games/press/index.html
https://www.cbc.ca/radio/asithappens/as-it-happens-friday-edition-1.4528357/this-painting-is-actually-a-bitcoin-puzzle-worth-more-than-40k-and-someone-finally-solved-it-1.4529176- Unchained Episode: What Exactly Do You Get When You Buy an NFT? Three Lawyers Discuss
- https://unchainedpodcast.com/what-exactly-do-you-get-when-you-buy-an-nft-three-lawyers-discuss/
Learn more about your ad choices. Visit megaphone.fm/adchoices
1 hr 9 min - Unconfirmed: Solana's Outage Lasted 17 Hours. What Does This Mean for Decentralization? - Ep.273
Aidan Mott, research analyst at Messari, discusses Solana’s network restart that resulted in the blockchain going dark for 17 hours earlier this week. Show highlights:
- when Solana validators noticed something was wrong and how they responded
- what initial dex offering (IDO) caused the network to be flooded with transactions
- how a surge in bot transactions pushed validators to decide to restart the network
- how Solana’s outage compares to similar incidents on other chains
- why the Solana community was most likely not surprised by the 17-hour restart
- how Solana validators and the Solana Foundation coordinated the network restart
- how Solana Labs CEO Anatoly Yakovenko communicated with the community during the outage
- whether Solana is still vulnerable to a similar flood of transactions
- what the network restart means in terms of Solana’s centralization
- why Solana validators running the same client could be an issue
Check Out the Related Article In addition to the analysis from Aidan, I did an interview with a Solana validator about his experience of the outage, and his concerns for the network going forward. Check out "The Experience of One Validator: What Happened During Solana's 17-Hour Outage?" in my Facebook Bulletin newsletter here -- and subscribe today! https://laurashin.bulletin.com/178076467796725
Thank you to our sponsors!
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
Digital Asset Research: https://digitalassetresearch.com
Sorare: https://sorare.com
Episode Links
Aidan Mott
- Twitter: https://twitter.com/KidKrypt0
- LinkedIn: https://www.linkedin.com/in/aidan-mott-77665267/
Messari
- https://messari.io/
Solana Outage
- The Block’s coverage
-
- https://www.theblockcrypto.com/linked/117711/solana-blockchain-validators-restart-network-after-transaction-stoppage
- https://www.theblockcrypto.com/linked/117624/solana-experiences-transaction-stoppage-as-developers-report-intermittent-instability
- CoinDesk coverage
-
https://www.coindesk.com/markets/2021/09/14/solana-validators-ready-potential-restart-amid-blockchain-outage/- Decrypt coverage
https://decrypt.co/81004/solana-back-online-following-downtime-network-restart- Why the mainnet went down
https://twitter.com/buffalu__/status/1437792673784549383- Potential ramifications
- https://twitter.com/CometShock/status/1437870278684590091
- Neha Narula tweet
https://twitter.com/neha/status/1438487308433494022- Solana Status -- the Twitter account that sent information out on the state of the network
- https://twitter.com/SolanaStatus
- Anatoly Yakovenko Solana outage tweets
- https://twitter.com/aeyakovenko/status/1437887482897518595
- https://twitter.com/aeyakovenko/status/1437784552324358155
- https://twitter.com/aeyakovenko/status/1438496595360862215
- https://twitter.com/aeyakovenko/status/1438465508412739588
- https://twitter.com/aeyakovenko/with_replies
Learn more about your ad choices. Visit megaphone.fm/adchoices
37 min - Can Bitcoin Be Secured Only by Transaction Fees? Two Researchers Sound Off - Ep.272
Once the block reward diminishes greatly, can Bitcoin be secured only by transaction fees? On Unchained, Bitcoin writer Vijay Boyapati and Ethereum Foundation’s Justin Drake debate the merits of Bitcoin’s security model, which Drake says will largely rely on transaction fees as soon as within 20-30 years, not in 100+ years. Highlights:
- Justin’s and Vijay’s professional backgrounds
- why Justin thinks Bitcoin cannot survive solely on fees
- how Bitcoin is currently secured
- what makes Bitcoin’s security subjective rather than binary
- how much it would cost in dollars to 51% attack Bitcoin
- what the Bitcoin network could do in response to a 51% attack
- how to calculate Bitcoin’s security budget
- why Bitcoin's price can’t go exponential forever
- whether a “nuclear option” for Bitcoin miners could protect against a 51% attack
- why nation-states could be either pro or anti-Bitcoin
- why a Bitcoin Standard could be similar to the Gold Standard
- how Bitcoin will change going forward, and why Vijay thinks transaction fees will increase
- why Justin does not think transaction fees will increase enough to secure Bitcoin’s base layer
- how Justin would fix Bitcoin’s security model -- and why he thinks the 21 million hard cap is a meme
- why Vijay does not think Bitcoin’s security model will ever change -- especially the 21 million hard cap
- what Justin thinks Ethereum is doing better than Bitcoin
- why Vijay thinks Ethereum will fail
Take the annual Unchained survey!
Hey all, the Unchained survey is out now, and we'd so appreciate it if you could give us your thoughts on how Unchained is doing and what we could do better. Plus, we've got some questions for you about Laura's upcoming book launch and the articles that she's already starting to write! Two lucky survey respondents will receive a BTC candle, which is scented with "satoshiwood, musk musk, tulip bulbs and finite minerals."
Head to surveymonkey.com/r/unchained2021 to fill out the survey today!
Subscribe to my Facebook Bulletin Newsletter!
Hey all, I'm excited to announce that I'll be writing a Facebook Bulletin newsletter , joining the likes of Malcolm Gladwell, Malala Yousafzai and Adam Grant, among others. My first post is already up.
Thank you to our sponsors!
Digital Asset Research: https://www.digitalassetresearch.com/
Ledger: https://www.ledger.com/
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
Episode Links
Justin Drake
- Twitter: https://twitter.com/drakefjustin
- LinkedIn: https://www.linkedin.com/in/drakefjustin/
- Recent Unchained appearance:
https://unchainedpodcast.com/is-eth-on-its-way-to-becoming-ultra-sound-money-yes-says-justin-drake/Vijay Boyapati
- Twitter: https://twitter.com/real_vijay
- LinkedIn: https://www.linkedin.com/in/vijayboyapati
- The Bullish Case for Bitcoin:
https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1Bitcoin’s Security Model
- Hasu
-
- https://ark-invest.com/podcast/bitcoins-security-model-with-hasu/
- Dan Held
-
https://danhedl.medium.com/bitcoins-security-is-fine-93391d9b61a8- Nic Carter
- https://medium.com/@nic__carter/bitcoin-bites-the-bullet-8005a2a62d29
- https://www.docdroid.net/C7uTY1R/mit-expo-slides-nic-carter-pdf#page=12
- Paul Sztorc
https://www.truthcoin.info/blog/security-budget/- Donal McIntyre
- https://etherplan.com/2019/05/17/why-the-bitcoin-fee-model-will-work/7587/
- Phil Geiger
https://unchained-capital.com/blog/21-million-is-non-negotiable/- Jordan McKinney
- https://medium.com/coinmonks/bitcoin-security-a-negative-exponential-95e78b6b575
https://medium.com/coinmonks/bitcoin-security-in-one-chart-694ee3ed8c2d- Lyn Alden
https://www.lynalden.com/bitcoin-security-modeling/- Princeton
https://www.cs.princeton.edu/~arvindn/publications/mining_CCS.pdf- Doomsday economics of PoW
https://www.bis.org/publ/work765.pdfBasic Info
- How BTC fees work
-
- https://river.com/learn/how-bitcoin-fees-work/
https://en.bitcoin.it/wiki/Miner_fees- What will happen when all BTCs are mined?
- Decrypt: https://decrypt.co/33124/what-will-happen-to-bitcoin-after-all-21-million-are-mined
- River: https://river.com/learn/what-will-happen-after-all-bitcoin-mined/
Bitcoin Fees
https://studio.glassnode.com/metrics?a=BTC&category=&ema=0&m=fees.VolumeSum&mAvg=365&mMedian=0&modal=loginFormLearn more about your ad choices. Visit megaphone.fm/adchoices
1 hr 16 min - Unconfirmed: Was Coinbase CEO Brian Armstrong Entitled to a Meeting With the SEC? - Ep.271
Ephrat Livni, a DealBook business and policy reporter at the New York Times, discusses Coinbase’s fight with the SEC over its Lend product and El Salvador’s adoption of Bitcoin as legal tender. Show highlights:
- why Coinbase is unhappy with what it calls the SEC’s “sketchy” behavior
- how Coinbase’s Lend product is structured and why it might be a security
- why Ephrat considers Coinbase’s reaction to the SEC’s decision on Lend to be “trolling”
- what we can learn from SEC chair Gary Gensler’s letters with Senator Elizabeth Warren
- what legal precedence the SEC is leaning on in its decision about Lend
- how to explain the SEC’s choice to not meet with Coinbase in Washington
- why Ephrat thinks Brian Armstrong sounds entitled
- Why even pro-Bitcoin groups in the US take issue with El Salvador’s adoption of Bitcoin as legal tender
- why Ephrat thinks Bitcoin is not a practical payment mechanism for El Salvadorans
- how El Salvadorans have reacted to the law
- why Ephrat believes El Salvador’s mandate to accept BTC is philosophically problematic for Bitcoiners
Thank you to our sponsors!
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
Digital Asset Research: https://digitalassetresearch.com
Sorare: https://sorare.com
Episode Links
Ephrat Livni
- Twitter: https://twitter.com/el72champs
- New York Times: https://www.nytimes.com/by/ephrat-livni
Coinbase
- Brian Armstrong tweet thread: https://twitter.com/brian_armstrong/status/1409555338836078592
- Coinbase blog: https://blog.coinbase.com/the-sec-has-told-us-it-wants-to-sue-us-over-lend-we-have-no-idea-why-a3a1b6507009
- Coinbase Lend: https://www.coinbase.com/lend
- Howey and Reves test: https://securities-law-blog.com/2014/11/25/what-is-a-security-the-howey-test-and-reves-test/
Bitcoin and El Salvador
- CoinDesk coverage:
-
https://www.coindesk.com/policy/2021/09/07/as-el-salvador-enacts-bitcoin-law-locals-remain-confused-about-implementation/- Wall Street Journal coverage: https://www.wsj.com/articles/bitcoin-comes-to-el-salvador-first-country-to-adopt-crypto-as-national-currency-11631005200
- CNN coverage: https://www.cnn.com/2021/09/06/business/bitcoin-price-el-salvador-intl-hnk/index.html
- CBS coverage: https://www.cbsnews.com/news/bitcoin-el-salvador-legal-currency/#:~:text=As%20legal%20tender%20in%20El,subject%20to%20capital%20gains%20tax.
- Reuters: https://www.reuters.com/technology/it-guy-in-chief-president-tries-fix-el-salvadors-bitcoin-woes-2021-09-08/
- Jerry Brito’s opinion: https://twitter.com/jerrybrito/status/1405660809024393221
- Survey results: https://www.reuters.com/technology/majority-salvadorans-do-not-want-bitcoin-poll-shows-2021-09-02/
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38 min - How Crypto Streaming Service Audius Hit Six Million Monthly Active Users - Ep.270
Audius, a blockchain native music streaming platform, hit six million monthly active users in August and announced a partnership with TikTok. Roneil Rumburg, co-founder and CEO of Audius, talks about how Audius works, AUDIO tokenomics, the give and take of decentralization, and more. Show highlights:
- what problems Audius is solving for creators
- how artists are utilizing crypto to connect with fans
- how the crypto components of Audius fit together
- what three utilities AUDIO, the native token of Audius, offers holders
- why Audius requires over $500K in AUDIO tokens to run a node
- why AUDIO’s inflation rate is higher than other popular tokens like Ethereum or Bitcoin
- which portions of Audius are centralized versus decentralized
- where the majority of Audius’s listens come from (hint: it’s not the app)
- how Audius has created a “password” system to make blockchain technology easier to use for non-crypto natives
- why Audius uses both Solana and Ethereum
- how big-name artists like Diplo found their way onto Audius
- how Audius makes it easier to upload music to TikTok
- what’s next for Audius
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Hey everyone, some news: I've begun writing news and features again. I’m now a Medium Partner, one of a group of writers I have long admired, such as Susan Orlean, Cory Doctorow, James Surowiecki and Will Leitch, among others. You can already check out my first post, which is on my career trajectory and why I still love covering crypto six years in. To find all my writing on Medium, please follow me at Medium.com/@laurashin.
Thank you to our sponsors!
Digital Asset Research: https://www.digitalassetresearch.com/
Ledger: https://www.ledger.com/
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
Episode Links
Roneil Rumburg
- Twitter: https://twitter.com/roneilr
Audius
- Website: https://audius.co/
- Twitter: https://twitter.com/AudiusProject
- Whitepaper: https://whitepaper.audius.co/AudiusWhitepaper.pdf
- Discord: https://discord.com/channels/557662127305785361/806017242734395413
What is Audius?
- Decrypt: https://decrypt.co/resources/what-is-audius-the-decentralized-music-sharing-and-streaming-service
- Messari: https://messari.io/asset/audius/profile
- Coindesk: https://www.coindesk.com/business/2020/11/11/audius-has-big-numbers-by-crypto-standards-but-can-it-take-on-soundcloud/
TikTok + Audius Coverage
- Audius: https://twitter.com/AudiusProject/status/1427299274325323779
- Rolling Stone: https://www.rollingstone.com/pro/news/tiktok-sounds-streaming-crypto-blockchain-nfts-audius-1211699/
General Coverage
- 6M monthly users
-
- https://twitter.com/AudiusProject/status/1433248161443684356
- Moving to Solana (Oct 2020):
-
- https://www.coindesk.com/markets/2020/10/29/audius-the-decentralized-spotify-is-moving-part-of-its-service-to-solana-blockchain/
- 5M monthly users (Aug 5):
-
https://www.coindesk.com/markets/2021/08/05/blockchain-based-music-streaming-service-audius-up-to-5m-monthly-users/- Copyright nightmare (The Verge 2019)
https://www.theverge.com/2019/10/9/20905384/audius-blockchain-music-streaming-service-copyright-infringement-piracy- NFTs (April 2021)
- https://decrypt.co/65808/crypto-streaming-music-service-audius-nfts
- Token Drop (Oct 2020):
https://medium.com/audius/welcome-audio-to-mainnet-409009bc130c- https://decrypt.co/46390/audius-distributes-crypto-rac-deadmau5-listeners
- Youtube + Audius project
https://youtubetoaudius.com/- Music Racer:
https://store.steampowered.com/app/893030/Music_Racer/- Raises
- https://musically.com/2020/10/26/decentralised-streaming-service-audius-raises-another-1-25m/
- https://techcrunch.com/2018/08/08/audius/
https://musically.com/2020/08/03/blockchain-music-service-audius-raises-3-1m-funding-round/- Node requirements:
https://blog.audius.co/posts/a-primer-on-audio-staking#:~:text=All%20node%20operators%20are%20required,cost%20slightly%20more%20to%20operate.Learn more about your ad choices. Visit megaphone.fm/adchoices
1 hr 14 min
About Unchained
From the publisher's feed
Crypto assets and blockchain technology are about to transform every trust-based interaction of our lives, from financial services to identity to the Internet of Things. In this podcast, host Laura…
Shin, an independent journalist covering all things crypto, talks with industry pioneers about how crypto assets and blockchains will change the way we earn, spend and invest our money. Tune in to find out how Web 3.0, the decentralized web, will revolutionize our world.