Bitcoin Audible

"But more broadly, one must ask, “at what point would someone want to permanently exchange their self-custodial scarce money (bitcoin) that has a 1.8% annual supply inflation rate that is exponentially shrinking, for a soft money (fiat currency) that typically has a 7% annual supply inflation rate or higher?” The answer for many people, is never, as long as the Bitcoin network is still working." - Lyn Alden What is up we are digging into Part 2 of Lyn Alden's amazing piece "A Look at the Lightning Network" - and we have a rather ridiculous Guy's Take after this to cover the rest of the groundwork laid in Part 1 that I didn't get to cover, a lengthy tangent about proof of stake and the total meaningful loss of anything considered independence or decentralization of ETH 2.0 before the merge even happened (that I hadn't actually intended to get into, but you'll get it anyway), and of course, Lyn's amazing breakdown of the trade-offs, the philosophical reasons & practical reasons for layered engineering, and how Lightning is fulfilling the promises of P2P electronic cash. All this in today's episode - get ready Link to the original article and the Swan Bitcoin blog for tons of other great reading: https://www.swanbitcoin.com/a-look-at-the-lightning-network/ The audiobook for Check Your Financial Privilege is now available and covers in depth many of the human rights struggles mentioned by Lyn Alden in this piece: https://www.audible.com/pd/Check-Your-Financial-Privilege-Audiobook/B0B9T6BJC4 And the audio for Allen Farrington's "Wittgenstein's Money" on experiencing the monetization of a truly new monetary good: https://open.spotify.com/episode/1eVvYlfTRG7zGjkZW8klIE?si=db628c9e11b744f1 Check out our amazing sponsors and the products that Guy uses most in the space: • The best place to onboard a true Bitcoiner - Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy) COME HANG OUT! Join us and the Swan Bitcoin team at the Pacific Bitcoin Conference in November! Get your tickets now, 10% off with code BITOCINAUDIBLE (https://www.pacificbitcoin.com/) • Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20% OFF with code BITCOINAUDIBLE (guyswann.com/fold) • Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 5% off everything in the store! Coinkite.com Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

"Simple “bubbles” don’t survive through several 70%+ drawdowns over a period lasting thirteen years and counting; it looks more like Metcalfe’s law of network adoption at this point. That doesn’t mean it is without risks, but it means it should be studied and understood rather than dismissed, to see what it is about this network that allows it to keep growing through resistance." - Lyn Alden After about 20 requests we are finally diving into Lyn Alden's incredible piece on Bitcoin's evolution from secure store of value, to global medium of exchange. Lyn takes us through a brief history in the context of Bitcoin's success and trade offs, to the merit of its scaling philosophy, how the Lightning Network accomplishes that and what it means for Bitcoin's present and future. We will try to get through this in 3 parts, starting today with Part 1, of "A Look at the Lightning Network." Link to the original article and the Swan Bitcoin blog for tons of other great reading: https://www.swanbitcoin.com/a-look-at-the-lightning-network/ The audiobook for Check Your Financial Privilege is now available and covers in depth many of the human rights struggles mentioned by Lyn Alden in this piece: https://www.audible.com/pd/Check-Your-Financial-Privilege-Audiobook/B0B9T6BJC4 And the audio for Allen Farrington's "Wittgenstein's Money" on experiencing the monetization of a truly new monetary good: https://open.spotify.com/episode/1eVvYlfTRG7zGjkZW8klIE?si=db628c9e11b744f1 Check out our amazing sponsors and the products that Guy uses most in the space: • The best place to onboard a true Bitcoiner - Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy) • Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20% OFF with code BITCOINAUDIBLE (guyswann.com/fold) • Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 5% off everything in the store! Coinkite.com Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

"Today, people use inflation to refer to two separate things, and whenever you hear someone saying inflation it’s not always clear which definition they are referring to. One definition is “the prices of consumer goods increasing” and the other is “dilution of the money supply”. So which is it?" - Steven Lubka Steven brings an excellent piece today from the Swan Bitcoin Blog about the nature of Bitcoin as an inflation hedge. Does that mean Bitcoin will stay perfectly in line with the general price level of all consumer goods? Or does it means it will adjust to the monetary supply and interest rate, and if so, what does either mean for Bitcoin going forward? If you ever heard the criticism that Bitcoin has failed as an inflation hedge, this is a read you don't want to miss. Link to the original article plus tons of other great stuff at the SwanBitcoin blog and newsletter: https://www.swanbitcoin.com/bitcoin-and-the-true-meaning-of-inflation/ Don't miss the PACIFIC BITCOIN CONFERENCE from the Swan Bitcoin team! We are going to have a blast in LA in November and I hope to see you guys there. Don't forget to grab 10% OFF with Discount Code BITCOINAUDIBLE at pacificbitcoin.com Check out our amazing sponsors and the products that Guy uses most in the space: • The best place to onboard a true Bitcoiner - Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy) • Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20% OFF with code BITCOINAUDIBLE (guyswann.com/fold) • Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 5% off everything in the store! Coinkite.com Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

WE ARE BACK! Were you wondering about everything that happened in the collapse of TerraUSD, the algorithmic stablecoin that got algonniahilated? And how exactly did one project's failure create such a cascading shitstorm of Defi defaulting? Cory Klippsten, CEO of SwanBitcoin, and outspoken critic who warned everyone of these projects long before they collapsed, breaks down what he saw in these [rojects and companies that brought them to their inevitable conclusion. Follow Cory here. (Link: https://x.com/coryklippsten/) Dont miss the return of Shitcoin Insider! Host Links ⁠Guy on Nostr ⁠(Link: http://tinyurl.com/2xc96ney) ⁠Guy on X ⁠(Link: https://twitter.com/theguyswann) Guy on Instagram (Link: https://www.instagram.com/theguyswann) Guy on TikTok (Link: https://www.tiktok.com/@theguyswann) Guy on YouTube (Link: https://www.youtube.com/@theguyswann) ⁠Bitcoin Audible on X⁠ (Link: https://twitter.com/BitcoinAudible) The Guy Swann Network Broadcast Room on Keet (Link: https://tinyurl.com/3na6v839) Check out our awesome sponsors! Fold: The best way to buy, use, and earn #Bitcoin on everything you do! Sats back on your debit card, gift cards, auto-buys, round-ups, you name it. Fold is the true bitcoiner's banking. Get 20K sats for FREE using referral code bitcoinaudible.com/fold Ready for best-in-class self custody? Get the Jade here and use discount code 'GUY' to get 10% off (Link: bitcoinaudible.com/jade) Trying to BUY BITCOIN? River, secure, trusted, bitcoin only, lightning enabled, simple. (Link: https://bitcoinaudible.com/river) Bitcoin Games! Get 10% off the best Bitcoin board game in the world, HODLUP! Or any of the other great games from the Free Market Kids! Use code GUY10 at checkout for 10% off your cart! (Link: https://www.freemarketkids.com/collections/games-1) Bitcoin Custodial Multisig Want to get into Bitcoin but not ready for self custody? Use custodial multisig for the best way to distribute trust across multiple institutions and even jurisdictions! Check out OnRamp. (Link: BitcoinAudible.com/onramp) Education & HomeSchooling Get the lesson in real economics that you never got in school, and teach your kids the truth, not the statist insanity that is Keynesianism. Liberty Classroom is the invaluable resource you are looking for! (Link: BitcoinAudible.com/Liberty)

"I think there are some important economic errors in the stories I see people telling about crypto, on Twitter and elsewhere — errors that have important implications for how we should think about the value of Bitcoin and other blockchain assets." - Noahpinion Unfortunately I think there are quite the few economic errors in Noahpinion's article titled, "Economic misconceptions of the crypto world." While he may actually have some fundamental points to add around much of the "crypto" space and their failure to understand what creates value, I think it shows Noahpinion's own misconceptions when he incorrectly applies some of the common crypto fallacies to Bitcoin, without understanding the deeper arguments, behind the more popular, & simplistic taglines that make their way across the social landscape. So in the most Guy Rant filled episode I've done in ages, we dive into the Misconceptions in Noahpinion's Crypto Misconceptions. Why savers aren't rent seekers, but money printers are rent seekers of the worst magnitude. Pieces mentioned in the article for further reading or listening: The Yield From Money Held, Reconsidered: https://bitcoinaudible.com/the-yield-from-money-held-reconsidered/ The 7th Property (Eric Yakes): https://www.amazon.com/7th-Property-Bitcoin-Monetary-Revolution/dp/0578902621 First Impressions of Web3: https://open.spotify.com/episode/7D4UD3n3H2mflqkVNnVczj?si=10ccd7de3c7a4e85 Check out our amazing sponsors and the products that Guy uses most in the space: • Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 5% off everything in the store! Coinkite.com • The best place to onboard a true Bitcoiner - Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy) • Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20% OFF with code BITCOINAUDIBLE (guyswann.com/fold) Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

"These two jobs are almost always in tension. Any added protection to keep a bad actor out adds a risk that it may also trip up the owner, and any new backup or alternative way to access creates a new potential security hole." - @max_guise Today we dive into a practical piece on how to build a unique self custody model that allows the user room to make mistakes, but still retain control, or the ability to recover their funds. Safely storing Bitcoin keys can be incredibly challenging and the unforgiving nature of the Bitcoin system is intimidating to new users who can find themselves trusting a custodian, out of fear of making a mistake when holding their own keys. Block, Inc is thinking about this problem in unique ways to bring self custody to the average user, and leveraging Bitcoin's tools to accomplish it. Check out the original article that includes links for diving deeper and following or contacting the team on social media to learn more. If you have any thoughts on the questions proposed at the end of the read, be sure to reach out to them. https://wallet.build/losing-your-keys-without-losing-your-coins/ Check out our amazing sponsors and the products that Guy uses most in the space: • The best place to onboard a true Bitcoiner - Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy) • Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20% OFF with code BITCOINAUDIBLE (guyswann.com/fold) • Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 5% off everything in the store! Coinkite.com Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

Following up on the release of Keet.io and a simple to use, responsive, encrypted, & scalable P2P data sharing protocol in Holepunch, its network backend, we bring the CEO of Holepunch Mathias Buus, and the CSO of Holepunch and CTO of Bitfinex, Paolo Ardoino on the show to talk about what the long term vision of this project truly is. This isn't just a better video chat app, this is the first building block in a plan to rebuild the internet & potentially break down the walls of the internet's major platforms. Are they onto something, or is it a pipe dream? Listen to hear what they say in today's chat. Follow Mathias and Paolo on twitter at the links below to stay up on the projects they are working on, and the many new developments to come: https://twitter.com/mafintosh https://twitter.com/paoloardoino Check out Keet if you want to explore the potential of this new networking protocol and backend. If you are a developer looking to build on the P2P web, go to their discord link to find out more: https://keet.io/ https://discord.com/invite/holepunch The Cathedral & the Bazaar: Musings on Linux and Open Source by an Accidental Revolutionary: https://www.amazon.com/Cathedral-Bazaar-Musings-Accidental-Revolutionary/dp/1565927249/ref=sr_1_2?crid=32I7TKBRZH4MT&keywords=cathedral+bazaar&qid=1659981647&sprefix=%2Caps%2C69&sr=8-2) Check out our amazing sponsors and the products that Guy uses most in the space: • The best place to onboard a true Bitcoiner - Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy) • Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20% OFF with code BITCOINAUDIBLE (guyswann.com/fold) • Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 5% off everything in the store! Coinkite.com Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

"It’s not and never was about equality or perfection. It’s about fairness and consequence. Bitcoin is “Responsibility go Up” technology." - Aleks Svetski The principles and rules of Bitcoin do not establish utopia, they do not create a perfect equality for all participants, instead it creates fairness and enforces equal responsibility on all who use the Bitcoin system. It is rules without rulers, it is a form of natural, incorruptible law, and all the consequences that come with that. Svetski brings us a great piece on why Bitcoin is really "responsibility go up" technology. Check out the original at the link below: https://bitcoinmagazine.com/culture/why-bitcoiners-are-not-utopians Check out "The UnCommunist Manifesto" by Aleks Svetski and Mark Moss for expanding on these ideas and the contradictions and consequences of ignoring fundamental truths: https://www.amazon.com/dp/B0B837FN63 Check out our amazing sponsors and the products that Guy uses most in the space: • The best place to onboard a true Bitcoiner - Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy) • Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20% OFF with code BITCOINAUDIBLE (guyswann.com/fold) • Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 5% off everything in the store! Coinkite.com Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

Orange pilling the everyday user with Mash. Combining simple, fast onboarding into the Lightning ecosystem and enabling a unique monetizing experience with micropayments and payment flows to any content imaginable. Author Jesse Berger joins to announce the experience available for exploring his book, Magic Internet Money. Pay for the book, or by the chapter, or the page. Pay only for what you want to read, and not a sat more. Find out more in today's chat, Mashing it with Magic Internet Money. Explore more with the links below and follow Jared at Get Mash, and Jesse Berger for ongoing developments. Keep an ear out for the audiobook available very soon! Check out our amazing sponsors and the products that Guy uses most in the space: • The best place to onboard a true Bitcoiner - Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy) • Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20% OFF with code BITCOINAUDIBLE (guyswann.com/fold) • Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 5% off everything in the store! Coinkite.com Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

"Holepunch makes Hypercore more accessible by abstracting away low-level technical details of the protocol. It takes Hypercore one step further by simplifying the architecture and enabling more people to build apps with it — which enabled a single frontend developer to build Keet in under four months" - Namcios Keet is going to change the game. P2P encrypted and decentralized, video, audio, and file sharing. Built on Holepunch and Hypercore, a technology stack that has the potential to drastically impact how we send and receive data, and connect to each other on the internet. If we are to have a true Web3, this might just be a window into what that is going to look like. Not 1,000 bullshit tokens, not a bunch of VC investors and token gambling, but fast, P2P, encrypted, private data sharing. You don't want to miss this episode. Link to the original at Bitcoin Magazine: https://bitcoinmagazine.com/technical/keet-the-decentralized-communications-app GET YOUR TICKETS FOR PACIFIC BITCOIN! Discount code GUYS gets you 20% off but only until the end of July! https://www.pacificbitcoin.com/ Check out our amazing sponsors and the products that Guy uses most in the space: • The best place to onboard a true Bitcoiner - Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy) • Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20% OFF with code BITCOINAUDIBLE (guyswann.com/fold) • Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Coinkite.com Learn more about your ad choices. Visit megaphone.fm/adchoices --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message