We Study Billionaires - The Investor’s Podcast Network

BTC060: Bitcoin Tech w/ Stephan Livera (Bitcoin Podcast)

Jan 12, 2022

Stephan Livera, a leading voice in Bitcoin technology and advocate for Austrian economics, shares his transformative journey into the Bitcoin world. He highlights the crucial aspects many overlook about Bitcoin's technology and discusses the innovative Lightning Network. Free from censorship, he dives into regulatory challenges and the future of stablecoins on Bitcoin. Stephan also expresses concerns about potential vulnerabilities and the importance of self-custody, emphasizing Bitcoin's ability to reshape finance.

01:03:21

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ANECDOTE

Aha Moment

Stephan Livera initially dismissed Bitcoin as a game currency.
An article by Eric Voorhees in 2012 changed his perspective, highlighting Bitcoin's challenge to central banking.

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INSIGHT

Background in Accounting

Stephan Livera's background is in accounting and auditing, having worked at Deloitte and major banks.
This background likely contributed to his understanding of Bitcoin's technical aspects.

question_answer

ANECDOTE

Early Austrian Economics Influence

Stephan Livera's interest in Austrian economics began at 14 through online discussions.
This early exposure 'primed' him to be open to Bitcoin's anti-establishment nature.

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From Skepticism to Bitcoin Security

02:46 • 14min

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Navigating Centralization in Lightning Wallets

16:38 • 9min

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Navigating the Lightning Network and Bitcoin's Future

25:21 • 15min

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Navigating Bitcoin Regulations and Investment Innovations

40:15 • 5min

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The Evolution of Stablecoins and Bitcoin's Promise

45:30 • 20min

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Valuable Bitcoin Resources and Community Acknowledgments

01:05:15 • 2min

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Deep Work

Rules for Focused Success in a Distracted World

Cal Newport

In 'Deep Work', Cal Newport argues that the ability to perform deep work—professional activities in a state of distraction-free concentration—is becoming increasingly valuable in our economy. The book is divided into two parts: the first part explains why deep work is valuable, rare, and meaningful, while the second part presents four rules to transform your mind and habits to support this skill. These rules include 'Work Deeply', 'Embrace Boredom', 'Quit Social Media', and 'Drain the Shallows'. Newport provides actionable advice and examples from various successful individuals to help readers master the skill of deep work and achieve groundbreaking results.

The Ethics of Money Production

Guido Hülsmann

This book explores the ethics and economics of money production from ancient times to the present. Hülsmann argues that the government monopoly on money production has no ethical or economic justification and advocates for private money production. He disputes centuries of assumptions about money management by governments and central banks, suggesting that money should be treated as a privately produced good like other commodities. The book also examines historical and theoretical perspectives, including the works of 14th-century Bishop Nicole Oresme, to make a strong case for the privatization of money production and the separation of money from state control.

IN THIS EPISODE, YOU’LL LEARN:

01:09 - What was the ah ha moment for Stephan in Bitcoin?
05:35 - What does Stephan think most people miss about the tech on Bitcoin?
16:39 - Stephan’s thoughts on lightning Tech.
30:48 - What kind of attack or vulnerability does Stephan think is most concerning for Bitcoin?
40:43 - How does Stephan see regulation playing out in the near future?
47:03 - DLCs and stable coins happening on Bitcoin.
1:02:08 - Stephan’s thoughts on growth deflation.
1:05:07 - Favorite Books.

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Stephan Livera's Twitter.
Stephan's Podcast.
Deep Work by Cal Newport.
The Ethics of Money Production by Guido Hülsmann.
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Browse through all our episodes (complete with transcripts) here.

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