

Crypto Voices
Matthew Mezinskis
Podcast covering diverse trends in Bitcoin and blockchain tech, decentralization, entrepreneurship, cryptoeconomics and liberty.
Author note: All authors, whose content is featured on Crypto Voices, are contacted beforehand for permission, regardless of copyright or license such as Creative Commons. If you are an author whose work is reproduced here and you have not heard from Crypto Voices, it's because we couldn't find a way to contact you. However, in this situation your work was already licensed Creative Commons, and it was so great anyway that we just couldn't wait to turn it into audio and put it up!
Any questions, please write info@cryptovoices.com, we'd love to hear from you.
Author note: All authors, whose content is featured on Crypto Voices, are contacted beforehand for permission, regardless of copyright or license such as Creative Commons. If you are an author whose work is reproduced here and you have not heard from Crypto Voices, it's because we couldn't find a way to contact you. However, in this situation your work was already licensed Creative Commons, and it was so great anyway that we just couldn't wait to turn it into audio and put it up!
Any questions, please write info@cryptovoices.com, we'd love to hear from you.
Episodes
Mentioned books

Mar 1, 2023 • 29min
PE34: How much do Bitcoin miners earn per year in fees?
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the thirty-fourth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
00:45 TTM fees in BTC terms
10:30 TTM fees in USD terms
17:00 Power regression on USD TTM fees (90% R-squared)
23:00 1-sigma percentile bands
24:11 2-sigma percentile bands
Dissecting the total fees paid to miners on the Bitcoin network over a rolling 365-day basis.
Apologies for the audio this video... had to use backup mic!!
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 28, 2023 • 1h 20min
CV146: Ukraine, total money supply, phone privacy
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the one hundred forty-sixth podcast episode from Crypto Voices.
Show support appreciated: donations.cryptovoices.com
Matthew and Alec review the Western stance toward Ukraine one year after Russia's invasion, the total US money supply, and phone number privacy.
Contents
00:00 Intro-UFOs
05:25 Ukraine
38:18 Total money supply USA
01:03:50 Privacy update
Links for more info:
https://chalice-perky470.medium.com/its-not-me-it-s-you-4348abbbcd10
Contact Alec at HALO for help: chalice.perky470@anonaddy.me
Show Sponsor: hodlhodl.com/join/cryptovoices
Hosts: Matthew Mežinskis, Michel, Alec Harris
Music: New Friend Music newfriendmusic.com/
Podcast & videos
Bitcoin, privacy, cryptoeconomics & liberty
Thanks for watching!
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 27, 2023 • 25min
PE33: Are credit cards part of the money supply? (XIII)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the thirty-third installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
01:47 M0
02:48 M1 non-M0
03:33 M2 non-M1
03:44 M3 non-M2
07:37 Assets vs. Liabilities of CCs
11:40 Batching
13:18 CC purchase volume in 2022 = $9.56 trillion
14:40 Revolving credit USA
17:08 Credit card debt vs. Demand deposits
24:00 HALO Privacy
Bonus video on the US money supply! Which "M curve" do credit card purchases and debt fit into? The answer is... none! Credit cards are an entirely different type of economic activity than bank money, and state money, which we studied in the previous twelve videos in our money supply series.
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 24, 2023 • 40min
PE32: Decoding Money - Total money supply USA (XII)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the thirty-second installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
01:33 Bank reserves
02:35 Fed repos
03:55 Vault cash
05:55 M0
08:30 M1 non-M2 (Demand deposits)
10:20 M2 non-M1
11:55 M3 non-M2
14:50 State money % of Total money
15:05 Total money supply
22:40 Hybrid market vs. Free market
30:10 How does Bitcoin fit in with all of this??
34:02 How big could Eurodollars be in M3?
Here is our final video in this money supply intro series and look into the nature of the United States dollar. We are putting together central bank money, or base money - also known as state money - with all of the bank and shadow bank money supplies in the US (M1, M2, M3, or inside money). Can we learn anything about where Bitcoin might economically compare and fit in with these money supplies?
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 23, 2023 • 38min
PE31: Decoding Base Money - Gold in USA (XI)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the thirty-first installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
03:10 Monetary base
07:50 Gold on Fed's balance sheet (Market value)
16:30 Gold on Fed's balance sheet (Native ounces)
24:20 Gold 'reserved' at market price
33:36 Gold 'reserved' at statutory price
37:13 Central banking, free banking, gold, no gold
Here is our second video covering outside money in the United States, also known as central bank money, or reserve money, or base money, or the monetary base. In this one we are comparing base money (a liability for the Fed), with it's historical gold reserves (an asset for the Fed). How important is the idea of a gold 'reserve?'
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 22, 2023 • 35min
PE30: Decoding Base Money - USA (X)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the thirtieth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
02:05 Inside versus Outside money
07:50 M0 is a part of both Inside and Outside money
09:20 Be cautious: M0 as defined by different central banks!
10:30 Vault cash
11:28 Bank reserves
17:30 Physical cash % of Base money
22:55 Monetary base (as officially defined)
23:30 Fed repos (Shadow bank reverse repos)
31:00 Gold vs. Fiat base money vs. Bitcoin
Here is our first video covering outside money in the United States, also known as central bank money, or reserve money, or base money, or the monetary base. M0 is included in base money, as well as the M1 money supply (which we have already covered)! Now that we have covered the inside money (fiduciary media) in the United States, we can deeper look into central bank money, or base money, and how this type of money is the core of the financial and monetary system. It economically compares with gold, silver, and bitcoin.
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 21, 2023 • 32min
PE29: Decoding M3 - Money supply USA (IX)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the twenty-ninth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
01:13 M0
03:04 M1
04:50 M2
06:40 M3 (Fed discontinued)
09:30 M3
19:03 M0 % of M3
21:52 M1% of M3
25:40 M2% of M3
30:27 Next up is base money
Here we have concluded the entire breakdown (and reconstruction) of the entire United States *public-facing* money supply, from M0, to M1, to M2, and now M3.
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 20, 2023 • 32min
PE28: Decoding M3 - Eurodollars (VIII)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the twenty-eighth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
00:58 Money supply "stack"
02:38 What is a Eurodollar?
05:50 How did the Federal Reserve count Eurodollars?
08:35 Eurodollars (Fed discontinued)
10:56 Eurodollars (Porkopolis)
20:30 Argentina's stack of Eurodollars
24:30 Measuring Eurodollars: Much work to do!
26:10 Stablecoins
29:03 M3 non-M2 Total
Here we look at the next level up for the United States money supply: the M3 money stock. Note that M2 is included in the M3 money supply; however, in this video we cover only the non-M2 monetary components. Specifically in this video, we are covering Eurodollars. This is the last video looking at the non-M2 portion of M3 money. It is a challenge to reconstruct this data, since the Fed stopped publishing this money supply in February 2006.
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 17, 2023 • 34min
PE27: Decoding M3 - Repurchase agreements USA (VII)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the twenty-seventh installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
00:48 Money supply "stack"
02:47 Federal Reserve presser on M3 discontinuation
05:05 Repo market summary
05:28 Why repos: #1 Shadow banking
08:57 Why repos: #2 Liquidity
10:41 Why repos: #3 Leverage
12:30 M3 non-M2 Total (Fed discontinued)
12:39 Large time deposits & Institutional money market funds
13:40 Repos (Banks)
16:30 Repos (Shadow banks)
19:25 Former Fed economist explains repos and M3
24:10 Repos (Fed)
28:58 Fed knows it's a monopoly actor
31:45 Adding up all M3 money supplies found so far
Here we look at the next level up for the United States money supply: the M3 money stock. Note that M2 is included in the M3 money supply; however, in this video we cover only the non-M2 monetary components. Specifically in this video, we are covering repurchase agreements. These next few videos will review how it is a challenge to reconstruct this data, since the Fed stopped publishing this money supply in February 2006.
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.

Feb 16, 2023 • 19min
PE26: Decoding M3 - Institutional money supply USA (VI)
Check out show sponsor Coinkite: https://coinkite.com/
Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/
This is the twenty-sixth installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
00:00 Intro
01:42 Money supply "stack"
06:37 Institutional time deposits
08:40 M3 non-M2 Total (Fed discontinued)
12:45 Institutional money market funds
16:45 Large time deposits % of M3 non-M2 Total
Here we look at the next level up for the United States money supply: the M3 money stock. Note that M2 is included in the M3 money supply; however, in this video we cover only the non-M2 monetary components. These next few videos will review how it is a challenge to reconstruct this data, since the Fed stopped publishing this money supply in February 2006.
https://porkopolis.io
https://twitter.com/crypto_voices
Show content is not investment or financial advice in any way.