Bitcoin Audible

The word “fiat” is growing more aggrandized in the modern lexicon, however, despite its increasing popularity it is often ill defined or misused. I regularly observe people falsely call Bitcoin a fiat currency. This is thanks, not least of all, to the layman’s poor grasp of history and money. Fiat is of Latin origin, meaning authoritative sanction; a decree, command or order. Fiat does not mean “backed by nothing” or “redeemable for nothing” or “pegged to nothing.” - HAC A walk through the history of monetary expansion, the constant, and inevitable consequences, and how Bitcoin is set to change the fundamental flaw through which such manipulation is even possible. We are entering a new world. Are you ready? Some other links to check out! • Fiat Lux: The Origins of Modern Money: https://heavilyarmedclown.medium.com/fiat-lux-the-origins-of-modern-money-469dbc47567b • WTF Happened in 1971?: https://wtfhappenedin1971.com/ • History of Money and Banking in the United States: https://cdn.mises.org/History%20of%20Money%20and%20Banking%20in%20the%20United%20States%20The%20Colonial%20Era%20to%20World%20War%20II_2.pdf • What Bitcoin Did: https://www.whatbitcoindid.com/podcast/wtf-is-happening-in-2020 Check out tons of other great works & discussion at BitcoinAudible.com! Search the library for any topic or work you would like to hear, including other great pieces from Erik Cason. Don't forget your goodies from our awesome sponsors! 5% off the BitBox02 with code "GUY," your bank grade digital vault for your Bitcoin keys from Shiftcrypto.ch And secure your Bitcoin future by starting your automatic savings plan at SwanBitcoin.com/guy Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

"Here's the deal with the US infrastructure bill: A new provision has been added that expands the Tax Code's definition of "broker" to capture nearly everyone in crypto, including non-custodial actors like miners, forcing them all to KYC users. This is not a drill" - Jake Chervinsky The government is trying to sneak in an incredibly arduous and expansive redefinition of the tax code that could be interpreted as so broad to essentially encompass every computer and piece of software running in the Bitcoin industry. This will be a disaster for the open monetary network within the United States. Today we read a great thread breaking down the issue from Jake Chervinsky and talk at length about what we can do. Take a short time to call your senator or representative or use the resist.bot to automatically send an email at the below links: guyswann.com/senator guyswann.com/representative guyswann.com/resist Check out tons of other great works & discussion at BitcoinAudible.com! Search the library for any topic or work you would like to hear, including other great pieces from Erik Cason. Don't forget your goodies from our awesome sponsors! 5% off the BitBox02 with code "GUY," your bank grade digital vault for your Bitcoin keys from Shiftcrypto.ch And secure your Bitcoin future by starting your automatic savings plan at SwanBitcoin.com/guy Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

"Many tellings of El Salvador’s story have largely overlooked and understated the role of the Lightning Network. But make no mistake: any country could have adopted bitcoin five or eight years ago. The base layer hasn’t changed much. The new ingredient, the innovation that has made this possible and is opening up all kinds of possibilities for the future, is Lightning.” - Roy Sheinfeld Today we dive back into Lightning in another excellent article from Breez Tech founder Roy Sheinfeld exploring how Lightning has brought us to today, and how to scale it to the entire world. Even though it's often thought of as a part of the background regarding the recent El Salvador announcement, to the contrary, it's truly at the center of everything that is happening. With a major shout out to Michael Peterson from Bitcoin beach and the Lightning proof of concept, we read Roy's excellent article, "Scaling Lightning: To El Zonte... And Beyond!" Link to the article for further reading and links to related services: https://bitcoinmagazine.com/culture/scaling-lighting-el-zonte For the best resource on news, information, essays, and education in the Bitcoin space, don't forget to check out the incredible BitcoinMagazine and the LTBNetwork for other shows all about the developments in this ecosystem! Check out tons of other great works & discussion at BitcoinAudible.com! Search the library for any topic or work you would like to hear, including other great pieces from Erik Cason. Don't forget your goodies from our awesome sponsors! 5% off the BitBox02 with code "GUY," your bank grade digital vault for your Bitcoin keys from Shiftcrypto.ch And secure your Bitcoin future by starting your automatic savings plan at SwanBitcoin.com/guy Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

“Independence is financial,” Abukhdeir told me. “If we don’t have financial freedom, nothing is going to change.” - Alex Gladstein Another brilliant addition to the Gladstein series from Bitcoin Magazine. Gladstein has been investigating Bitcoin's benefits for people all over the globe, those in the first world, the third, connected to the modern banking system, the entirely unbanked, those stuck under oppressive regimes, monetary colonialization, & behind walls of political tyranny. Today he takes a deep dive into Palestine and how they have ben bled dry of their capital and manufacturing base over 50 years in significant part through a monetary and banking system completely controlled by external powers. And how Bitcoin may be a spark of hope to begin changing that harsh reality. Could Bitcoin be Palestine's Currency of Freedom? https://bitcoinmagazine.com/culture/can-bitcoin-bring-palestine-freedom For the best resource on news, information, essays, and education in the Bitcoin space, don't forget to check out the incredible BitcoinMagazine and the LTBNetwork for other shows all about the developments in this ecosystem! Check out tons of other great works & discussion at BitcoinAudible.com! Search the library for any topic or work you would like to hear, including other great pieces from Erik Cason. Don't forget your goodies from our awesome sponsors! 5% off the BitBox02 with code "GUY," your bank grade digital vault for your Bitcoin keys from Shiftcrypto.ch And secure your Bitcoin future by starting your automatic savings plan at SwanBitcoin.com/guy Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

A great piece today detailing out the different kinds, the nuances & the long history of inflation. What misconceptions do we still have about inflation? What are the major correlating factors? And what can we do to protect ourselves in different environments? All this and more in another of Lyn Alden's incredible pieces from her investment newsletter. The Ultimate Guide to Inflation: https://www.lynalden.com/inflation/#investing Check out tons of other great works & discussion at BitcoinAudible.com! Search the library for any topic or work you would like to hear, including other great pieces from Erik Cason. Don't forget your goodies from our awesome sponsors! 5% off the BitBox02 with code "GUY," your bank grade digital vault for your Bitcoin keys from Shiftcrypto.ch And secure your Bitcoin future by starting your automatic savings plan at SwanBitcoin.com/guy Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

"Owning bitcoin is often put in contrast to owning stock in a company that produces a good or service. In virtue of the company producing a good or service and receiving money for the good or service, stock in that company is said to have intrinsic value. Methods of calculation of the intrinsic value of a stock usually involve calculating the value of the assets the company has and/or the expected future earnings. Bitcoin is not a company and produces no goods or services — so it lacks intrinsic value. So goes the criticism." - Bradley Rettler Why is it so difficult for people to wrap their heads around the idea of Bitcoin's value? Its always met with criticisms like "but it doesn't have intrinsic value," or "but its not backed by anything." In this context, what does intrinsic value even mean, and does Bitcoin have any of it? Dr. Bradley Rettler brings us a great breakdown at Bitcoin Magazine on the philosophy of value & what, if anything, actually has intrinsic value at all. Another Way to Think About Bitcoin's Value: https://bitcoinmagazine.com/culture/bitcoin-intrinsic-value-definition Check out tons of other great works & discussion at BitcoinAudible.com! Search the library for any topic or work you would like to hear, including other great pieces from Erik Cason. Don't forget your goodies from our awesome sponsors! 5% off the BitBox02 with code "GUY," your bank grade digital vault for your Bitcoin keys from Shiftcrypto.ch And $10 in sats for FREE by starting your automatic savings plan at SwanBitcoin.com/guy Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

"For decades, economists have pointed to 17th-century tulipmania as a warning about the perils of the free market. Writers and historians have reveled in the absurdity of the event. The incident even provides the backdrop for the new film Tulip Fever, based on a novel of the same name by Deborah Moggach. The only problem: none of these stories are true." - Lorraine Boissoneault What if every single time Bitcoin critics derided the Bitcoin phenomenon as nothing but market madness, a mirror of the obvious insanity of the Tulip craze in 17th century Dutch markets... what if they were actually referring to something that never really happened? What was the Tulip bubble really and was it exactly what it was made out to be? Or something far more boring? Dont miss this excellent article from Smithsonian Mag and author Lorraine Boissoneault that digs into the truth behind the myth, and about the not so manic Tulip Mania. Link the the original article, plus the source work by Anne Goldgar who did extensive research and found out the truth behind the myth: https://www.smithsonianmag.com/history/there-never-was-real-tulip-fever-180964915/ https://press.uchicago.edu/ucp/books/book/chicago/T/bo5414939.html Check out tons of other great works & discussion at BitcoinAudible.com! Search the library for any topic or work you would like to hear, including other great pieces from Erik Cason. Don't forget your goodies from our awesome sponsors! 5% off the BitBox02 with code "GUY," your bank grade digital vault for your Bitcoin keys from Shiftcrypto.ch And $10 in sats for FREE by starting your automatic savings plan at SwanBitcoin.com/guy Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

"Bitcoin (BTC, the currency) in its current form can scale – enough to process every txn in the world! It just needs the right combination of layer2s." - Paul Sztorc What would it look like if we could use sidechains today to scale Bitcoin to the worldwide payments capacity? Paul Sztorc, proponent and developer for Drivechains & BIP300 to bring this model to the Bitcoin ecosystem, lays out his vision for a future with the Thunder Network; sidechains with heavier data throughput to bridge to act as huge transaction aggregators that enables the quick deployment of any desired feature, an open landscape for design & privacy technology, & will allow Bitcoin to scale to every user in the world, and beyond. Sidechains for Scaling, Thunder Network: https://www.truthcoin.info/blog/thunder/ Check out the "Lessons from Bittorrent Series" covered on the show that was mentioned in the commentary: https://bitcoinaudible.com/why-bittorrent-mattered-lessons-for-crypto-1-of-4/ Check out tons of other great works & discussion at BitcoinAudible.com! Search the library for any topic or work you would like to hear, including other great pieces from Erik Cason. Don't forget your goodies from our awesome sponsors! 5% off the BitBox02 with code "GUY," your bank grade digital vault for your Bitcoin keys from Shiftcrypto.ch And $10 in sats for FREE by starting your automatic savings plan at SwanBitcoin.com/guy Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

"Of course, “developing your own cryptosystem” is the purview of only cranks and researchers, so it was reasonably assumed that none of these “altcoins”, as they were called, could ever be plausibly presented for public use. Boy, were we ever wrong on that one" - Andrew Poelstra How did we find ourselves in an environment where people copy/paste "crypto tokens" on a daily basis, and foundational cryptographic infrastructure is tossed around like casino chips? Prior to the days of Bitcoin, no one would have ever taken such projects seriously, but enter the ability to make money off fools and everything changes. Dont miss an incredible piece from Bitcoin developer Andrew Poelstra atempting to break down the major flaws and failures of philosophy on the entirety of what is know today as "altcoins." A Treatise on Altcoins: https://download.wpsoftware.net/bitcoin/alts.pdf Check out tons of other great works & discussion at BitcoinAudible.com! Search the library for any topic or work you would like to hear, including other great pieces from Erik Cason. Don't forget your goodies from our awesome sponsors! 5% off the BitBox02 with code "GUY," your bank grade digital vault for your Bitcoin keys from Shiftcrypto.ch And $10 in sats for FREE by starting your automatic savings plan at SwanBitcoin.com/guy Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

"Perhaps Bitcoin can help Americans reflect on our history and remember that our true glory, in Adams’s words, is “not dominion, but liberty,” and that our true march is “of the mind” and not the sword." - Alex Galdstein Happy Independence Day fellow Audionauts! This is the day to celebrate the American experiment and the ideals which it sought to achieve. An ideal of "all men created equal," individual liberties, freedom of speech, freedom of religion, and so many more revolutionary principles that have been the foundation for the outlaw of slavery, the civil rights movement, & human rights movements around the world. So where do we separate "America the idea" from "America the political system?" What was missed in the founding documents that allowed the experiment to still fail so many? Does Bitcoin have a role to play by re-empowering these core principles of individual liberty? Another brilliant piece from Alex Gladstein & Bitcoin Magazine, don't miss today's show! https://bitcoinmagazine.com/culture/bitcoin-and-the-american-idea Check out tons of other great works & discussion at BitcoinAudible.com! Search the library for any topic or work you would like to hear, including other great pieces from Erik Cason. Don't forget your goodies from our awesome sponsors! 5% off the BitBox02 with code "GUY," your bank grade digital vault for your Bitcoin keys from Shiftcrypto.ch And $10 in sats for FREE by starting your automatic savings plan at SwanBitcoin.com/guy Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message