What Bitcoin Did

By Peter McCormack

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 Oct 17, 2020


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 Jun 18, 2019

Description

Against many challenges, Bitcoin, the worlds first true cryptocurrency has survived for over a decade. With What Bitcoin Did, podcast host Peter McCormack talks to experts in the world of Bitcoin. From developers to investors, journalists to Bitcoin company CEOs, you will learn about everything that is happening in the world of Bitcoin.

Episode Date
No Escape from Bitcoin's Gravity with Nik Bhatia

“It’s just becoming clear to the smartest investors in the room, that denying Bitcoin is like denying the internet 20 years ago and it’s a mistake and you’re going to get left in the dust.”
— Nik Bhatia

Location: Remotely
Date: Wednesday 18th November
Company: USC Marshall School of Business
Role: Adjunct Professor of Finance

After dropping to lows of ~$4000 when markets went into freefall following the coronavirus outbreak, Bitcoin has bounced back to a near to all-time high of ~$18,500.

The impact of the pandemic on the economy has been a massive increase in government borrowing and money printing. This response has highlighted the importance of scarce assets which can't be debased. 

Gold has historically been the safe-haven asset that money flows into during times of uncertainty. However, many are now turning to Bitcoin, and it is quickly eating into gold's market share.

In a world of fiat currencies, gold and the impending rise of central bank digital currencies, where does Bitcoin fit?

Nik Bhatia has written Layered Money a book looking into this that will be released early in 2021. We discuss his book, where Bitcoin fits in the monetary system, the history of government control over money and central bank digital currencies.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD281 - Show Notes

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If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
QR Codes: Bitcoin
If you do send a tip then please email me so that I can say thank you

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Leave a review on iTunes

Share the show and episodes with your friends and family

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If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Nov 24, 2020
The Case for Bitcoin with Dan McArdle

“Bitcoin was born in the great financial crisis but was just a toy. Now, we have another crisis with similar monetary outcomes, and it’s not a toy anymore, it is the escape valve now.”
— Dan McArdle

Location: Squadcast
Date: Thursday 12th November
Company: Messari Crypto
Role: Co-Founder

With the Bitcoin pricing sitting at around $17.5K, up from $4k in March, Bitcoin has had an incredible year. 

With institutional investors starting to take note, unprecedented monetary and fiscal policy highlighting the importance of sound money and corporations adding Bitcoin to their treasuries, the outlook is very bullish.

With such a rapidly evolving market, it is hard to keep track of everything that is happening. To help with this Dan McArdle has created CaseBitcoin; a website that compiles information and resources on the different value propositions of Bitcoin, its price history in comparison to critical markets & traditional assets and provides a library of some of the best articles and literature on Bitcoin.

In this interview, I am joined by the creator of casebitcoin.com, Dan McArdle. We discuss the current bull market, comparisons to 2017, the current economic climate and how newcomers to Bitcoin can navigate the space.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD280 - Show Notes

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
QR Codes: Bitcoin
If you do send a tip then please email me so that I can say thank you

Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed

Leave a review on iTunes

Share the show and episodes with your friends and family

Subscribe to the newsletter on my website

Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Nov 20, 2020
The Institutional Case for Bitcoin with Dan Morehead and Mike Novogratz

“We’re just still in the really, really early innings in this thing. 100 million people have it, and we think that’s awesome, but there will be 6 billion people with it in 20 years”
— Dan Morehead

Location: Squadcast
Date: Wednesday 11th November
Company: Pantera Capital & Galaxy Digital
Role: Co-Founder, CEO & Founder, CEO

2020 has been a year, unlike any other. With the coronavirus pandemic bringing the world to a standstill, the global economy is under significant pressure. Governments have needed to take action, and we have seen unprecedented levels of fiscal and monetary stimulus.

The current economic outlook highlights the bullish case for Bitcoin, and large institutions are beginning to take action. Microstrategy made the bold first move and put $425million of their treasury into Bitcoin. Michael Saylor's bold move sent a message to CEOs all over the world and shortly after Square followed suit with a $50million Bitcoin purchase.

So how seriously are institutions taking Bitcoin? And will we see a wave of institutional investment?

In this interview, I talk to veteran investors Dan Morehead, co-founder & CEO of Pantera Capital and Mike Novogratz, founder & CEO of Galaxy Digital. We discuss their first Bitcoin purchase, institutional interest & what they expect from Bitcoin in the coming years.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

-----

WBD279 - Show Notes

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
QR Codes: Bitcoin
If you do send a tip then please email me so that I can say thank you

Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed

Leave a review on iTunes

Share the show and episodes with your friends and family

Subscribe to the newsletter on my website

Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Nov 17, 2020
Adam Curry on Podcasting with Bitcoin

“Paypal de-platform people, MasterCard, which is the processing behind a lot of these systems de-platform people… and the only thing left is Bitcoin.”
— Adam Curry

Location: Squadcast
Date: Tuesday 3rd November
Project: No Agenda Podcast
Role: Co-Host

Adam Curry, along with Dave Winer are credited as the creators of podcasting in the early 2000s. The idea of allowing anyone to broadcast over the internet in an unfiltered and uncensored manner was revolutionary.

For nearly two decades, podcasting has grown into an industry, which Business Insider predicts will be worth $1billion by 2021. 

With the meteoric rise in podcasting, some podcasts are attracting more followers than mainstream TV shows, for example, Joe Rogan regularly receives more than 10 million listeners per show. 

Advertisers wanting exposure to these audiences is the most common way to monetise podcasting. Adam Curry wants to move away from revenue driven by advertising which he believes is a form of censorship. Again Adam is attempting to revolutionise podcasting with Podcast Index that will, optionally, allow micropayments via Lightning Network to reward podcasters for their content.

In this interview, I talk to the podfather Adam Curry. We discuss the origins of podcasting, COVID-19 & vaccinations, de-platforming & cancel culture and utilising the Lightning Network for podcast micropayments.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

-----

WBD278 - Show Notes

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
QR Codes: Bitcoin
If you do send a tip then please email me so that I can say thank you

Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed

Leave a review on iTunes

Share the show and episodes with your friends and family

Subscribe to the newsletter on my website

Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Nov 13, 2020
Resistance is NOT Futile with Aleks Svetski

“I want to see a world that is optimised for freedom, not for safety.”
— Aleks Svetski

Location: Squadcast
Date: Tuesday 3rd November
Project: Amber
Role: CEO

The sound money properties of Bitcoin attract those interested in Austrian Economics and Libertarianism; in fact, Libertarians were one of the earliest groups of people to adopt Bitcoin and truly understand its importance and value.

Since I've gone down the Bitcoin rabbit hole, Libertarianism has been something that I have paid close attention to on the show. The arguments for an anarchist society are compelling; however, one thing that I have always struggled with is how an anarchist society would work and how we would transition to this from a democratic society.

In this interview, I talk to Aleks Svetski, a Libertarian who has written several articles outlining how he thinks an anarchist society would work. We discuss libertarianism, democratic v anarchist societies and the erosion of individual freedoms.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

-----

WBD277 - Show Notes

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
QR Codes: Bitcoin
If you do send a tip then please email me so that I can say thank you

Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed

Leave a review on iTunes

Share the show and episodes with your friends and family

Subscribe to the newsletter on my website

Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Nov 10, 2020
The 1 Bitcoin Trump Bet Update with American HODL

“I think this election was Trump vs the media, Biden was just a placeholder.”
— American HODL

Location: Squadcast
Date: Tuesday 3rd November

In July, I tweeted that I would bet anyone $5,000 that Trump would lose the 2020 election. American Hodl took me up on the bet, and with the help of Phil Geiger we each deposited 0.5 BTC into a multisig.

With the election this week, I caught up with American HODL three times, before, during and after the election to discuss everything that is happening.

While Joe Biden went into the election as the clear favourite, according to the polls, it wasn’t long before the narrative switched and by the early hours of election day UK time, Trump looked sure to win.

The following morning, as the results of mail-in ballots hit the counts, the election swung back in favour of Biden. With Wisconsin and Michigan flipping democrat and Pennsylvania threatening to do the same, Biden looks like he may win the race to the Whitehouse. 

The election has not been without drama, with accusations from Donald Trump and his supporters of fraud. Now legal challenges are being submitted, and the path to a decision is unclear.

In this interview, American HODL and I catch up before, during & after the US Election. We follow the ups and downs of election night, Trump threatening legal action in various states, demanding recounts and what happens between now and the inauguration. 


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD276 - Show Notes

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
QR Codes: Bitcoin
If you do send a tip then please email me so that I can say thank you

Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed

Leave a review on iTunes

Share the show and episodes with your friends and family

Subscribe to the newsletter on my website

Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Nov 06, 2020
The Money Revolution with Raoul Pal

“If what they’re telling you is they want to do a Bretton Woods, where we can all agree to stabilise our currencies and do massive printing… christ, if you’re after a better case for Bitcoin, I’ve never heard of one.”
— Raoul Pal

Location: Squadcast
Date: Thursday 29th October
Company: Real Vision
Role: Co-Founder & CEO

The Bretton Woods agreement was created in 1944, following the end of the Second World War. The agreement pegged the US Dollar to gold, with other nations pegging their currencies to the dollar. The agreement was an attempt to stabilise economies after the devastation of the war.

The IMF recently released an article in which they called the economic impact of the COVID-19 pandemic a “new Bretton Woods moment.” Suggesting that the pandemic’s effect on the economy and the substantial fiscal stimulus required may be too hard to come back from without change.

The IMF announcement happened in the shadow of central banks around the world looking more and more at issuing their digital currencies. These Central Bank Digital Currencies, known as CBDCs, will give more power to the state over the control and flow of money. While this control does offer some benefits, they do also increase surveillance and reduce monetary freedoms.

Are we in the midst of a revolution in money? And what does it mean for Bitcoin?

In this interview, I am joined by Raoul Pal, macroeconomist and co-founder & CEO of Real Vision. We discuss the IMF considering a new Bretton Woods type system, central banks issuing digital currencies and what this means for Bitcoin.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

WBD275 - Show Notes

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
QR Codes: Bitcoin
If you do send a tip then please email me so that I can say thank you

Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed

Leave a review on iTunes

Share the show and episodes with your friends and family

Subscribe to the newsletter on my website

Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Nov 03, 2020
Fintech and Bitcoin with Kevin Lehtiniitty

“It’s not even about the financial gain; sure maybe it’ll 10x, maybe it’ll 100x, maybe it’ll 2x. I don’t really care. It’s about the freedom.”
— Kevin Lehtiniitty

Location: Squadcast
Date: Wednesday 14th October
Company: Prime Trust
Role: Chief Product Officer

Over the last few years, neobanks and fintech companies such as Cash App, Revolut, Venmo (amongst others) have grown hugely in popularity, with many choosing to step away from traditional banking and jump on this new wave in finance.

Neobanks offer features that you cannot access in the traditional finance world. Along with quick and more effortless transactions, many services allow you to invest in stocks, commodities and Bitcoin (and other cryptocurrencies), from within their apps.

So, what impact will exposing hundreds of millions of people to Bitcoin have?

Prime Trust is one of the companies behind that help these fintech businesses operate, and in this interview, I talk to Kevin Lehtiniitty, their Chief Product Officer. We discuss financial censorship, the outdated legacy infrastructure in the US, neobanking and the role of bitcoin in the future of financial applications.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

WBD274 - Show Notes

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
QR Codes: Bitcoin
If you do send a tip then please email me so that I can say thank you

Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed

Leave a review on iTunes

Share the show and episodes with your friends and family

Subscribe to the newsletter on my website

Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Oct 30, 2020
Shit Bitcoiners Say with Rusty Russell

“This irrational exuberance is where I’m like you know what… calm the fuck down, this stuff is not promised to you, number will not always go up, it is not guaranteed to hit $100k, $288k or whatever fucking number you want and even if it does hit $1 million, you wonder what $1million will be worth at the time.”
-
Rusty Russell

Location: Squadcast
Date: Friday 25rd September
Company: Blockstream
Role: Lightning Network Developer

Bitcoiners can be firm in their views and are often called toxic by outsiders; however, this toxicity plays an important role. Bitcoin is a threat to the legacy financial system. It is therefore open to a broad range of attacks from technical to social and Bitcoin's immune system defends against these attacks to protect the protocol.

In previous episodes, I have looked at the pros and cons of toxicity and how it acts as an immune system for Bitcoiner. Does this immune system lead to silly narratives going unchallenged? Can Bitcoin fix everything or are we missing critical nuanced debates regarding its potential?

Rusty Russell is somewhat of a contrarian in the Bitcoin space. He is a lightning network developer for Blockstream but also runs the Shit Bitcoiners Say Twitter account which regularly calls out some of the more overzealous and outlandish claims by Bitcoiners.

In this interview, Rusty and I discuss the lightning network, open-source development, narratives and overzealous Bitcoiners.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

WBD273 - Show Notes

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
QR Codes: Bitcoin
If you do send a tip then please email me so that I can say thank you

Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed

Leave a review on iTunes

Share the show and episodes with your friends and family

Subscribe to the newsletter on my website

Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Oct 27, 2020
The Case for $500K Bitcoin with Cameron & Tyler Winklevoss

“The question in our mind is not so much does it get to $500K, but how quickly.”
— Cameron Winklevoss

Location: Squadcast
Date: Tuesday 20th October
Company: Gemini
Role: Co-Founders

In August, Cameron and Tyler Winklevoss released The Case for $500K Bitcoin. A paper that outlines the value proposition of Bitcoin, why it is a superior store of value and hedge against inflation than either gold, oil and the US dollar.

In the paper, they describe the world as ‘drowning in debt’, even before the coronavirus outbreak, and predict that the pandemic may cause everyone to come face to face with the reality of debt spiralling out of control.

While the impact on the world may be scary for the broader economy, the twins outline Bitcoin as a major winner in this scenario and predict Bitcoin’s market cap to grow from its current market capitalisation (approx. $225 billion) to that of gold (approx. $9 trillion). With the price of a Bitcoin at around $550K.

We discuss their paper, why Bitcoin is the best hedge against inflation, the debt reckoning and Wall Street investing in Bitcoin.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

WBD272 - Show Notes

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
QR Codes: Bitcoin
If you do send a tip then please email me so that I can say thank you

Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed

Leave a review on iTunes

Share the show and episodes with your friends and family

Subscribe to the newsletter on my website

Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Oct 23, 2020
Becoming a Bitcoin Core Developer with Amiti Uttarwar

“I think that having a global currency is inevitable at some point, whether in our lifetime or another, and I think Bitcoin is the kind of global currency I’d like to see.”
— Amiti Uttarwar

Location: Squadcast
Date: Thursday 17th September
Role: Bitcoin Core Developer

Due to the decentralised nature of Bitcoin, committing to becoming a full-time core developer comes with challenges. While the Bitcoin network is worth over $200 billion, there is no central development fund to ensure that developers are working full time on the protocol.

While there are numerous independent contributors, many developers rely on support from a growing number of companies such as Chaincode Labs, Blockstream, Lightning Labs and a handful of others who fund work on the protocol.

In this interview, I talk to Bitcoin Core Developer Amiti Uttarwar. We discuss her residency at Chaincode Labs, contributing to Bitcoin Core, working on open source projects and the blacklist controversy.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

WBD271 - Show Notes

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
QR Codes: Bitcoin
If you do send a tip then please email me so that I can say thank you

Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed

Leave a review on iTunes

Share the show and episodes with your friends and family

Subscribe to the newsletter on my website

Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Oct 20, 2020
Bitfinex - The Hacks, Tether and Bitcoin with Paolo Ardoino

“It’s important to us to support Bitcoin and to show respect to the coin that made all of this possible.”
— Paolo Ardoino

Location: Squadcast
Date: Monday 7th September
Company: Bitfinex
Role: CTO

Bitfinex is one of the oldest and largest Bitcoin exchanges. Since 2014, the exchange has had to endure multiple hacks, including at $60 million theft in 2016.

iFinex, the parent company of Bitfinex, also oversees Tether. Tether is the largest stablecoin, regularly facilitating over $50 billion in daily trading volume and is supported by close to 150 exchanges. It too isn't without its controversies, there have been calls to audit Tether to prove that it is fully reserved and there are claims ether printing has been used to manipulate the markets.

Despite the controversies, the Bitfinex and Tether teams have been instrumental in supporting the growth of Bitcoin.

In this interview, I talk to Paolo Ardoino the CTO of Bitfinex. We discuss how Bitfinex dealt with the exchange hacks, protecting against future attacks, Tether, the Lightning Network and funding Bitcoin projects.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

WBD270 - Show Notes

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
QR Codes: Bitcoin
If you do send a tip then please email me so that I can say thank you

Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed

Leave a review on iTunes

Share the show and episodes with your friends and family

Subscribe to the newsletter on my website

Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Oct 16, 2020
The Bitcoin Bull Bull Bull with Michael Saylor

““I think that Bitcoin is the best hope that people have to make the world a better place, by providing this sovereign empowerment.”
— Michael Saylor

Location: Squadcast
Date: Thursday 8th October
Company: MicroStrategy
Role: CEO

In August, MicroStrategy made the bold move of purchasing 21,454 Bitcoin to add to their treasury, spending $250 million. In doing so, CEO Michael Saylor stated that he views Bitcoin as a "dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash".

The next month MicroStrategy announced that they had doubled down on their conviction in Bitcoin and acquired an additional 16,796 Bitcoin, taking their total spend to $425 million. This move sent a clear message to businesses everywhere that Bitcoin is a valuable asset and can be a key part of a company's treasury.

Following in the footsteps of Microstrategy, last week Square announced that they too had added Bitcoin to their treasury with the purchase of 4,709 Bitcoin for ~$50 million.

In the second part of my interview with Michael Saylor, the CEO of Microstrategy, we discuss his Bitcoin value proposition, his view on maximalism and alts, privacy, decentralisation and the Bitcoin circular economy.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

WBD269 Show Notes: https://www.whatbitcoindid.com/podcast/the-bitcoin-bull-bull-bull

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
QR Codes: Bitcoin
If you do send a tip then please email me so that I can say thank you

Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed

Leave a review on iTunes

Share the show and episodes with your friends and family

Subscribe to the newsletter on my website

Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Oct 14, 2020
Bitcoin in the Boardroom with Michael Saylor

“I realised I’m on a melting ice cube of $500 million worth of money, the purchasing power is dwindling at 10% to 20% a year, I have to do something.”
— Michael Saylor

Location: Squadcast
Date: Thursday 8th October
Company: MicroStrategy
Role: CEO

In August, MicroStrategy made the bold move of purchasing 21,454 Bitcoin to add to their treasury, spending $250 million. In doing so, CEO Michael Saylor stated that he views Bitcoin as a "dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash".

The next month MicroStrategy announced that they had doubled down on their conviction in Bitcoin and acquired an additional 16,796 Bitcoin, taking their total spend to $425 million. This move sent a clear message to businesses everywhere that Bitcoin is a valuable asset and can be a key part of a company's treasury.

Following in the footsteps of Microstrategy, last week Square announced that they too had added Bitcoin to their treasury with the purchase of 4,709 Bitcoin for ~$50 million.

In this interview, I talk to Michael Saylor, the CEO of Microstrategy. We discuss their Bitcoin purchase, where his conviction in Bitcoin came from, Square buying Bitcoin and the process of adding Bitcoin to a public companies treasury.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

WBD268 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-in-the-boardroom

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Oct 13, 2020
Bitcoin Toxicity with Giacomo Zucco & Neil Woodfine

“It may be one shot, it’s important, the consequences on civilisation are huge, so we want to be over-cautious about not compromising the culture or the technical features of Bitcoin.”
— Giacomo Zucco

Location: Squadcast
Date: Thursday 24th September
Company: BHB Network & Blockstream
Role: Director & Marketing Director

Bitcoin can be a toxic place. Ask the wrong question or fall on the wrong side of an argument; the community can be vicious in its response. It is a daunting place with Bitcoiners not only clashing with altcoin projects but with each other regarding Bitcoin ideas too. Rarely a day passes without a fight of some kind exploding on Twitter.

However, toxicity plays an important role. Bitcoin is a threat to the legacy financial system, and being decentralised; anyone can contribute. Bitcoin is therefore open to a broad range of attacks from technical to social and Bitcoin's immune system defends against these attacks to protect the protocol.

Segwit2x highlighted how a group might choose to co opt Bitcoin with dangerous consequences. Radical scepticism is levelled against other projects, people and companies to ensure that no outside party can have a negative influence on the future of the best money we have ever had.

So, what are the positives and negatives of toxicity in Bitcoin? When does toxicity cross the line and are there any unintended consequences?

In this interview, I am joined by Bitcoin consultant and educator Giacomo Zucco and Neil Woodfine, Marketing Director for Blockstream. We discuss toxic Bitcoin maximalism, unintended consequences and politics within Bitcoin.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

WBD267 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-toxicity

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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Oct 09, 2020
How Bitcoin is Helping Protesters in Belarus with Alex Gladstein & Jaraslau Likhachevski

“I’ve never been a crypto enthusiast, I never believed in it… until this summer.”
— Jaraslau Likhachevski

Location: Squadcast
Date: Wednesday 30th September
Company: Human Rights Foundation & BYSOL
Role: Chief Strategy Officer

Belarus is in the midst of massive protests, sparked in August by an election win for the long time leader of the country, Alexander Lukashenko. Lukashenko has been in power since the first presidential election in Belarus in 1994 when the country gained independence from the Soviet Union. The constitution following independence limited presidents to two terms but Lukashenko fought to change this and has remained in power since.

Following the disputed election on August 9th hundreds of thousands of people have taken to the streets claiming Lukashenko rigged the election results. Opposition leader Svetlana Tikhanovskaya is claiming that she is the rightful president with reports that she had won 60-70% of the votes.

These marches have become violent with Lukashenko's state security forces using rubber bullets, tear gas and extreme brutality against the protesters.

Protestors are targeting state infrastructure by striking. To support those standing up to the regime, the Human Rights Foundation has set up a Belarus Solidarity Fund. They are using Bitcoin as a censorship-resistant way of getting money to those striking to supplement their lost wages.

In this interview, I talk to Alex Gladstein the Chief Strategy Officer at The Human Rights Foundation and Jaraslau Likhachevski from BYSOL We discuss the political situation in Belarus, the protests and how Bitcoin is helping activists.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

WBD266 Show Notes: https://www.whatbitcoindid.com/podcast/how-bitcoin-is-helping-protesters-in-belarus

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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Oct 06, 2020
What is Bitcoin? With Parker Lewis, Robert Breedlove & Vijay Boyapati

“Of anything I have ever looked at in my life, I would put Bitcoin as nearest to inevitable as I could.”
— Robert Breedlove

Location: Squadcast
Date: Tuesday 22nd September
Company: Unchained Capital, Parallax Digital & Senior Software Engineer
Role: Head of Business Development, Founder & Peach

If you ask 100 people what Bitcoin is, you will likely get 100 different answers. Whether it is a medium of exchange, gold 2.0, a hedge against inflation or purely as a speculative asset, all of these answers are valid.

The decentralised nature of Bitcoin means that it has no owner and no single leader who decides what it is or how to use it. Bitcoin is an entirely personal experience based on the needs of the individual. As such, since its inception in 2009, Bitcoin has had many narratives.

Championed initially as being a tool for digital commerce, with the advent of the Silk Road and other dark markets it's censorship-resistant property grew in popularity. More recently, Bitcoin is widely considered as gold 2.0 and a must-have asset to protect your wealth against inflation.

With the absence of a central narrative, infighting is typical in Bitcoin, most notably in 2017 with the contentious Bitcoin Cash fork over what some believed the purpose that Bitcoin should serve. However, central to Bitcoin is its permissionless nature and therefore any Bitcoiner can choose to use it however they wish.

In this interview, I am joined by Parker Lewis, Robert Breedlove and Vijay Boyapati to answer the question: what is Bitcoin? We discuss the use cases, what money is, institutional investors and the path to hyperbitcoinisation.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

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WBD265 Show Notes: https://www.whatbitcoindid.com/podcast/what-is-bitcoin

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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Oct 02, 2020
Bitcoin: A Novel Economic Institution with Yassine Elmandjra

“Bitcoin is not going away… whether or not you like it, whether or not you have qualms with it, whether or not your government has banned it or you know of a government has banned it. It lives and breaths on the internet and is effectively unstoppable.”
— Yassine Elmandjra

Location: Squadcast
Date: Wednesday 23rd September
Company: Ark Investment Management
Role: Thematic Analyst

Before the advent Bitcoin, financial systems operated based on trust. Central banks, government-issued fiat money and payment processors all rely on trusted third parties. Relying on trust-based systems leaves the user vulnerable to decisions that do not necessarily benefit them, from inflation of the money to supply to the censoring of transactions.

Bitcoin changes this.

With Bitcoin, there is a fixed supply and rigid monetary policy, and the rules of the system can't be changed at the whim of a small group of people. Add to this the ability to truly custody your wealth; it is clear to see why Bitcoin is so revolutionary.

Not everyone has been quick to pick up on Bitcoin. Many institutional investors are still sceptical for many reasons, from the old defunct arguments that Bitcoin is for criminals and terrorists to concerns around price volatility. However, there are signs that institutions are beginning to shift their thinking, highlighted by MicroStrategy's recent decision to move $425 million of their treasury into Bitcoin.

In this interview, I talk to Yassine Elmandjra, a Thematic Analyst at Ark Investment, who recently published two whitepapers on Bitcoin. We discuss trust-based v trust minimised systems, property rights and institutional investment in Bitcoin.


This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

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WBD264 Show Notes: https://www.whatbitcoindid.com/podcast/a-novel-economic-institution-with-yassine-elmandjra

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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Sep 29, 2020
The World's First Crypto Bank with David Kinitsky & Marco Santori

“The bottom line is that a bank is a big deal… banking is the granddaddy of it all, it’s the bottom of the financial services stack.”
— David Kinitsky

Location: Squadcast
Date: Wednesday 23rd September
Company: Kraken Financial & Kraken
Role: CEO & Chief Legal Officer

Last week Kraken announced that the Wyoming Banking Board had voted in favour of the exchange's application for a banking charter under Wyoming's Special Purpose Depository Institution statute. This charter makes Kraken the first cryptocurrency company to gain banking status.

Receiving the banking charter opens traditional rails in the finance world that had previously been unavailable to the exchange, and in turn, will lead to the development of a range of innovative new banking services.

In this interview, I talk to Kraken Financial CEO David Kinitsky and Kraken's Chief Legal Officer Marco Santori. We discuss the creation of a crypto bank, what it will mean to both the industry and Kraken customers and why they chose Wyoming.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

WBD263 Show Notes: https://www.whatbitcoindid.com/podcast/the-worlds-first-crypto-bank

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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Sep 25, 2020
Why a Currency Devaluation is Likely with Lyn Alden

“There is a pretty asymmetric reward for holding Bitcoin.”
— Lyn Alden

Location: Squadcast
Date: Monday 21st September
Company: lynalden.com
Role: Macroeconomist

When COVID-19 struck, governments across the world implemented unprecedented stimulus packages to help what were already fragile economies, which had never fully recovered from the 2008 global financial crisis.

While the economy moves in short-term 5-10 year cycles, a larger multi-decade cycle appears to be coming to an end. As governments pursue further rounds of quantitive easing, debt to GDP levels are heading towards what Lyn calls the event horizon, where debt to GDP is over 130% and currency devaluation is the most likely outcome.

Holding cash through a currency devaluation risks losing purchasing power as governments increase the money supply to service debt, thus scarce assets such as gold and Bitcoin are a safe haven.

In this interview, I talk to Lyn Alden, a macroeconomist and founder of Lyn Alden Investment Strategy. We discuss the current state of the economy, monetary and fiscal policy debt cycles and if we should expect currency devaluation.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

WBD262 Show Notes: https://www.whatbitcoindid.com/podcast/why-a-currency-devaluation-is-likely-with-lyn-alden

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Sep 22, 2020
Bitcoin: The Great Disruption with Luke Gromen

“The system of the last 50 years is over, it hasn’t worked, it has broken down.”
— Luke Gromen

Location: Squadcast
Date: Wednesday 9th September
Company: FFTT, LLC
Role: Founder

In 1971 Nixon announced that the US would sever all ties between the dollar and gold and would no longer convert dollars to gold at a fixed value of $35/oz, putting an end to any remnants of a gold standard and ushering in a new era in finance.

This new system led to decades of excessive risk-taking, cheap credit and questionable incentive structures. In 2008, the new system came crashing down when the US housing bubble burst and in turn, sent the entire world into the worst financial crisis since the great depression.

To manage the economic crash, central banks pushed quantitative easing to stimulate the economy, but now, 12 years later, the world's economy is again teetering on the edge.

The COVID-19 pandemic has highlighted the fragility of the global economy. With decades of currency debasement, investors are turning to scarce assets such as gold and Bitcoin to hedge the risk of inflation.

In this interview, I talk to macroeconomist and founder of FFTT, LLC Luke Gromen. We discuss the current macroeconomic climate, how the system that has been in place for the last 50 years is coming to an end and why we need Bitcoin.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

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WBD261 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-the-great-disruption-with-luke-gromen

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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Sep 18, 2020
How to Protect Your Bitcoin with Nick Neuman & Jameson Lopp

“The definition of easy for an early Bitcoiner, cypherpunk is much different than the definition of easy for somebody who is just getting started with Bitcoin.”
— Nick Neuman

Location: Squadcast
Date: Wednesday 19th August
Company: Casa
Role: CEO & CTO

One of the earliest lessons for a new Bitcoiner is the security of your Bitcoin. If you lose your private keys or someone hacks you, it is almost certain you will never see that bitcoin again.

Protecting your private keys is one of the first concepts for anyone holding Bitcoin to master. It is the basic building block for becoming self-sovereign, separating your wealth from the legacy financial system.

There is no one way to secure your private keys, and bitcoin holders have a wealth of options available to them, but building a robust security solution which protects you against every possible scenario requires planning.

Casa is a company that specialises in security and offers multisig solutions that help robustly secure your bitcoin while retaining custody.

In this interview, I talk to Nick Neuman and Jameson Lopp, Casa CEO and CTO. We discuss how to secure your Bitcoin, the types of attacks that you need to be aware of and Casa’s multisig solutions.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

WBD260 Show Notes: https://www.whatbitcoindid.com/podcast/how-to-protect-your-bitcoin

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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Sep 15, 2020
2020 Oslo Freedom Forum: 24th & 25th September

On 24th & 25th September The Human Rights Foundation hold their annual Oslo Freedom Forum. With COVID this event will be virtual for the first time ever. To register for the event and find out more go to https://oslofreedomforum.com/.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
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If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Sep 13, 2020
Does Bitcoin Have Gatekeepers? With Andreas M. Antonopoulos

“If this system only works if everybody adopts it at the highest level of financial sovereignty and highest level of technical skill and highest level of ideological purity… it’s not going to work.”
— Andreas M. Antonopoulos

Location: Squadcast
Date: Thursday 3rd September
Company: aantonop.com
Role: Speaker, Author & Educator

Some of the most vocal people in the Bitcoin community are highly technical, anarcho-capitalist libertarians, drawn to Bitcoin for its sound money properties. Some have a vision that Bitcoin will change many aspects of the modern world by reducing the role of the state and leading to a more open and free society, but is this vision shared by all?

While it has been essential to protect the Bitcoin protocol from attacks by nefarious parties, has this immune system evolved into ideas beyond Bitcoin which become counter-productive to Bitcoin adoption?

In a space with more than its fair share of scams and people with questionable intentions, some people play an important role in calling these out and protecting investors. However, some Bitcoiners hold others to a very high standard on other political and ideological issues which can create an intimidating environment.

Is Bitcoin an apolitical tool for the censorship-resistant transfer of wealth, or is it a weapon for a political revolution?

Recently, I asked the question on Twitter “What is an xPub”? As someone who is not very technical, this seemed to be a reasonable question, however, I received a lot of backlash from the more technical Bitcoiners. Are there a set of core principles that Bitcoiners should hold and if so, how are these defined, or are these principles just representative of one sub-community within Bitcoin?

In this interview, I talk to Bitcoin Speaker, Author & Educator; Andreas M. Antonopoulos. We discuss toxicity in the Bitcoin community, the steps to better Bitcoin privacy and what an xPub is.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

WBD259 Show Notes: https://www.whatbitcoindid.com/podcast/does-bitcoin-have-gatekeepers

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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Sep 11, 2020
BTC vs ETH Technicals with Andrew Poelstra, Tadge Dryja, Vitalik Buterin & Patrick McCorry

Location: Squadcast
Date: Thursday 3rd September
Company: Blockstream, MIT Digital Currency Initiative, Ethereum, PISA Research
Role: Director of Research, Research Scientist, Founder, Co-founder & CEO

In my recent Bitcoin Vs Ethereum show, I was joined by Samson Mow and Vitalik Buterin to discuss the philosophical differences between Bitcoin and Ethereum.

For me, the fundamental differences between the two are quite clear, where Bitcoin is conservative and slow, focusing on sound monetary policy, Ethereum is inflationary, experimental and has, what many consider unachievable goals.

Following the debate about the philosophical differences I was keen to expand the conversation into the technical differences between the two networks.

In this episode, I am joined by Andrew Poelstra, Tadge Dryja and Vitalik Buterin and Patrick McCorry. With Paddy as co-host, we discuss the fundamental and technical differences between Bitcoin and Ethereum, scalability and use cases.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

WBD258 Show Notes: https://www.whatbitcoindid.com/podcast/btc-vs-eth-technicals

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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Sep 08, 2020
Bitcoin Has Entered Phase 5 with PlanB, Jeff Booth & Preston Pysh

“Once you have seen, you cannot unsee. Once you get it, there is no way back.”
— PlanB

Location: Squadcast
Date: Wednesday 2nd September
Company: Independent Trader, Entrepreneur & Author, The Investors Podcast
Role: Bitcoin Quant Analyst, Independent & Host

When Plan released his revised Stock-to-Flow model as a Cross Asset Model (S2FX), he added a new concept: phase transitions. This revision to the model takes into consideration the evolution of Bitcoin’s use and meaning, as such, from proof of concept to payments to e-gold to a financial asset.

Following the halving in May, many have speculated what the next transitional phase would be for Bitcoin, with the model predicting the price of Bitcoin potentially reaching $288K.

With Bitcoin being a provably scarce asset, in times of unprecedented money printing and fiat currency debasement, the bull case for Bitcoin is clear. However, in August, MicroStrategy sent a clear message to businesses everywhere, when in August they announced their purchase of 21,454 Bitcoin, over 1% of the total supply.

MicroStrategy CEO Michael Saylor said that they view Bitcoin as a “dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash”. Other companies have started following MicroStrategy by holding Bitcoin within their treasury.

Could companies holding Bitcoin to protect their cash reserves be the next phased transition for Bitcoin?

In this interview, I talk to Bitcoin quant analyst & creator of the stock to flow model, Plan₿, author of The Price of Tomorrow Jeff Booth & author, engineer & the host of The Investor Podcast, Preston Pysh. We discuss how Bitcoin S2F is entering phase 5.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

-----

WBD257 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-has-entered-phase-5

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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Sep 04, 2020
INX: Legitimate Token or S***coin? With Alan Silbert, Jameson Lopp & Samson Mow

“ICO’s and those kind of scams have poisoned the well to the point where people can’t really tell what is a real business and what is not a real business anymore.”
— Samson Mow

Location: Squadcast
Date: Monday 31st August
Company: INX, Casa, Blockstream
Role: Executive Managing Director, CTO, Chief Strategy Officer

Last week INX launched their token offering, a first of its kind, a security token approved by the US Securities and Exchange Commission.

INX is a trading platform bringing regulated and digital asset opportunities to institutions and retail investors. Their token offering allows investors to gain pro rata distributions from the companies cumulative adjusted operating cash flow. Controversially the token was launched on the Ethereum blockchain.

The project already has its detractors and critics, with the advisory board catching direct criticism with accusations of hypocrisy, specifically Jameson Lopp and Samson Mow.

While many Bitcoiners have expressed their opinions against the project, others have thrown their support behind it, believing that INX is a legitimate use of a token.

In this interview, I talk to Alan Silbert, Jameson Lopp and Samson Mow about the launch of INX. We discuss why they chose to tokenise on Ethereum, what makes something a shitcoin and the key criticisms directed towards them.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

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WBD256 Show Notes: https://www.whatbitcoindid.com/podcast/inx-legitimate-token-or-shitcoin

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Sep 01, 2020
BTC Vs ETH Episode Review with Udi Wertheimer

“I think that Ethereum is a convoluted mess and I don’t know what it’s good for but fine; other people like it. Good for them.”
— Udi Wertheimer

Location: Squadcast
Date: Monday 24th Aug
Company: Independent
Role: Developer and Consultant, Bitcoin Activist

A deep divide exists between the Bitcoin and Ethereum communities. Bitcoin is conservative and slow and appeals to people who value sound money, censorship resistance and decentralisation. The Ethereum mindset is to "move fast and break things" with broader goals that many Bitcoiners see as flawed and impossible to achieve.

Following my recent episode with Samson Mow and Vitalik Buterin, the responses demonstrated the split in these two communities. Finding impartial voices able to consider the arguments from both camps objectively is challenging, so I asked Udi Wertheimer to come on the show and dissect the interview with me.

We discuss the Bitcoin Maximalist mindset, flaws with the Ethereum protocol and the supplygate saga.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD255 Show Notes: https://www.whatbitcoindid.com/podcast/btc-vs-eth-episode-review-with-udi-wertheimer

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Aug 28, 2020
The Banking Lending Crisis with FEDUPBIZOWNER

“I think banks are scared shitless. I think they know what’s sitting on their books and they’re praying like holy hell that they will still be solvent in 12 months.”
— FEDUPBIZOWNER

Location: Squadcast
Date: Wednesday 5th August
Company: N/A
Role: N/A

Throughout 2019 and early 2020, the global economy was signalling fragility. However, with the rapid spread of COVID19 and the resulting lockdowns, the global economy is heading into a deep recession.

As governments have worked to control the virus, economies are opening back up. Across the world, governments are facing the challenge of stimulating these faltering economies while managing localised lockdowns.

The Fed announced a new effort to support the economy, including programmes for small and medium-sized businesses, via Main Street lending, however, banks are still, seemingly, reluctant to offer loans.

In this interview, I talk to anonymous Twitter account FEDUPBIZOWNER. We discuss COVID's impact on the lending markets if the banks are facing an insolvency crisis, why stock markets are hitting all-time highs and hedging with gold and Bitcoin.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD254 Show Notes: https://www.whatbitcoindid.com/podcast/the-banking-lending-crisis-with-fedupbizowner

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Aug 25, 2020
Protecting Your Bitcoin Privacy with Max Hillebrand

“For me, the guiding principle is to reduce the number of seconds that I hold fiat shitcoins.”
— Max Hillebrand

Location: Squadcast
Date: Wednesday 12th August
Company: Wasabi Wallet
Role: Contributor

Many newcomers to Bitcoin mistakenly think of it as private, but the truth is far more complicated than that. While it is possible to use Bitcoin with a high level of privacy, it has been complicated by the growth in regulations.

Exchanges must enforce KYC in most jurisdictions to allow them to retain their banking services, while chain analysis is increasingly used to flag transactions deemed illicit.

While privately utilising Bitcoin is becoming harder, there are many tools available for Bitcoiners to reclaim their privacy. One of them is Wasabi wallet, best known for CoinJoin, a method which allows users to increase their Bitcoin anonymity.

In this interview, I talk to Wasabi wallet contributor Max Hillebrand. We discuss remaining anonymous while using Bitcoin, Wasabi wallet & CoinJoin, custodian solutions and living a Bitcoin-only life.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD253 Show Notes: https://www.whatbitcoindid.com/podcast/protecting-your-bitcoin-privacy-with-max-hillebrand

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Aug 21, 2020
WTF is Happening in 2020? With Guy Swann, Ben Prentice & Heavily Armed Clown

“It doesn’t matter if the world is ready for Bitcoin, because it is coming like a freight train.”
— Heavily Armed Clown

Location: Squadcast
Date: Wednesday 12th August
Company: The Cryptoconomy & WTFhappenedin1971.com
Role: Host & Creators

Modern Monetary Theory is a relatively new school of economic thought. MMT suggests that if governments carefully control inflation, then they should not be concerned with increasing levels of debt.

The views of MMT proponents is in stark contrast to the views held by most Bitcoiners who often favour Austrian economics, which Bitcoin’s monetary policy and fixed supply align closely.

Following my recent interview, with Stephanie Kelton, who put forward what she sees as the benefits to MMT, I wanted to follow up with a panel of Austrian economics proponents to look at the potential flaws in this system.

In this episode, I talk to fellow podcaster Guy Swann, as well as Ben Prentice and Collin, creators of WTFhappenedin1971.com. We discuss Modern Monetary Theory, Austrian economics, and MicroStrategy buying Bitcoin.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD252 Show Notes: https://www.whatbitcoindid.com/podcast/wtf-is-happening-in-2020

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Aug 18, 2020
Bitcoin Vs Ethereum with Samson Mow & Vitalik Buterin

“It comes down to what you think money is, and money is really a zero sum game. We’re not going to walk around in a world with thousands or tens of thousands of monies.”
— Samson Mow

Location: Squadcast
Date: Thursday 13th August
Company: Blockstream & Ethereum
Role: Chief Strategy Officer & Founder

The Bitcoin community can be a very hostile place, in an industry that has more than its fair share of scams and questionable projects it often falls at the feet of Bitcoiners to call them out.

In many ways, Ethereum is the antithesis of Bitcoin. Whereas Bitcoin is slow and conservative in its goals and development, the ethos of Ethereum is to ‘move fast and break things’. These philosophical differences often lead to fiery debates between the two communities.

Over the past few days, a new debate was sparked by the seeming inability to verify the total supply of Ethereum. Supplygate has divided the two communities again with many Bitcoiners believing that the ability to audit the supply should be one of the fundamental principles of a money system. With Bitcoin, it is the monetary policy which gives it value over fiat, therefore having a fixed supply and the ability for anyone to run a node and audit the supply is critical.

Believers in Ethereum argue that Ethereum’s value proposition is different and that difficulty of getting consensus around the total supply is not a significant issue.

During this debate Chief Strategy Officer at Blockstream, Samson Mow, and Ethereum creator Vitalik Buterin traded blows on Twitter. I asked them to come on the show and discuss the philosophical differences between Ethereum vs Bitcoin.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD251 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-vs-ethereum-with-samson-mow-vitalik-buterin

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Aug 16, 2020
All Things Bitcoin with Andrew Poelstra, Giacomo Zucco, Jack Mallers, Matt Odell & Nic Carter

“Bitcoin is a technology that is built for people that are paranoid and prepared, and unfortunately, the world has delivered on that paranoia this year.”
— Nic Carter

Location: Zoom
Date: Wednesday 5th July
Company: Blockstream, BHB Network, Zap & Strike, Tales from the Crypt & Rabbit Hole Recap, Castle Island Ventures
Role: Director of Research, Director, Founder, Co-Host, Partner

For my 250th show special, I asked some of my favourite Bitcoiners to join me for a panel discussion. In this episode, Andrew Poelstra, Giacomo Zucco, Jack Mallers, Matt Odell, Nic Carter and myself discuss all things Bitcoin.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD250B Show Notes: https://www.whatbitcoindid.com/podcast/all-things-bitcoin

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Aug 14, 2020
One Thing About Bitcoin

Over the last three years, I have had a huge array of guests from cypherpunks, developers, economists, libertarians, activists, Wall Street veterans and punk rock legends all with one thing in common; Bitcoin.

In this episode, to celebrate What Bitcoin Did’s 250th show, I asked some of my previous guests to tell me one thing about Bitcoin, that matters to them.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD250A Show Notes: https://www.whatbitcoindid.com/podcast/one-thing-about-bitcoin

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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Aug 14, 2020
Objectivism: The Philosophy of Ayn Rand with Yaron Brook

“I think the government is necessary. A necessary good, not a necessary evil.”
— Yaron Brook

Location: Zoom
Date: Wednesday 5th July
Project: The Yaron Brook Show
Role: Host

Ayn Rand was a Russian-American philosopher and author who developed a philosophical system known as Objectivism.

Objectivism has many similarities with Libertarianism, both believe in non-aggression as well as capitalism via a genuinely free market; however, the critical area they differ on is the role of a central government.

While many libertarians believe anarchy is the only way of overcoming government overreach, objectivists believe in a limited government.

In this interview, I talk to Yaron Brook, host of the Yaron Brook Show and Chairman of the Ayn Rand Institute. We discuss the differences between libertarianism and objectivism, how an Objectivist society would work and Bitcoin.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD249 Show Notes: https://www.whatbitcoindid.com/podcast/objectivism-the-philosophy-of-ayn-rand-with-yaron-brook

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Aug 11, 2020
The Bitcoin Cypherpunk Box with Matt Hill & Aaron Greenspan

“I don’t think you can do the future that we envision, without Bitcoin.”
— Matt Hill

Location: Zoom
Date: Monday 27th July
Company: Start9 Labs
Role: CEO/Co-Founder & Co-Founder/Head of Engineering

The birth of the internet caused one of the most significant cultural shifts in human history. Global communication and information sharing has allowed for considerable advancements in society, and it is integral to the world we live in today. However, it is not all positive; the internet sucks up vast amounts of personal data which is then sold and exploited.

There are many ways your data is used against you from targeted advertising to voter manipulation, and Tim Berners Lee, the creator of the internet, cited the loss of control of our personal data as one of his biggest concerns regarding the current state of the internet.

By utilising encryption tools and browsers like Tor, you can still retain your privacy while using the internet, but it is not straight forward. Start9 are changing this.

In this interview, I talk to Matt and Aaron from Start9. We discuss the growing demand for a private internet, retaining control of personal data, encryption and why bitcoin is fundamental to all of this.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD248 Show Notes: https://www.whatbitcoindid.com/podcast/the-bitcoin-cypherpunk-box-with-matt-hill-aaron-greenspan

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Make a tip:
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Aug 07, 2020
Has the Bitcoin Bull Woken? With Anthony Pompliano

“Having the #2 podcast, I learned everything I know about podcasting from Peter because he is definitely better than me and his show is definitely better than mine, and he is really handsome and cool.”
— Anthony Pompliano

Location: Zoom
Date: Sunday 2nd August
Company: The Pomp Podcast
Role: Host

The benefits of holding a scarce asset have never been more apparent. All over the world, central banks have been printing money at an unprecedented rate to attempt to stimulate faltering economies.

With the outbreak of coronavirus and subsequent lockdowns in March, the majority of markets crashed. Bitcoin was no different, hitting local lows of ~$4,000. Since then Bitcoin has rallied and is currently sitting at ~$11,000.

The price action and current economic conditions have led many to believe we are at the beginning of a bull market like the one we saw in 2016/2017.

In this interview, I talk to Anthony Pompliano, founder and partner at Morgan Creek Capital and the host of the Pomp podcast. We discuss his recent interview with Roger Ver, the economic impact of the coronavirus & the Bitcoin bull market.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD247 Show Notes: https://www.whatbitcoindid.com/podcast/has-the-bitcoin-bull-woken-with-anthony-pompliano

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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Aug 04, 2020
Modern Monetary Theory with Stephanie Kelton

“The people who were so sure that deficits drive interest rates up or that QE is inflationary, those people who asserted those things with real fervour, I think are demonstrably wrong.”
— Stephanie Kelton

Location: Zoom
Date: Wednesday 29th July
Company: Stony Brook University
Role: Professor of Economics and Public Policy

With the abandonment of the gold standard in the early 20th century, there has been nothing to limit the amount of money a central bank can print, leading to a rapid rise in national debts. In the US debt alone, the national debt stands at $26.5 trillion, and the growth is accelerating.

While conventional economic theory would suggest this ever-growing debt is dangerous as it can lead to uncontrollable rises in inflation and a devaluing of the dollar, there is a newer school of thought; Modern Monetary Theory which makes a different argument. MMT suggests that governments should not be concerned with increasing debt, arguing the only risk is inflation, which is controllable.

MMT is the antithesis to the Austrian school of thought that aligns with Bitcoin’s monetary policy of fixed supply and deflationary issuance.

In this interview, I talk to Stephanie Kelton, professor of economics and public policy at Stony Brook University. We discuss the benefits of modern monetary theory, why increased spending may not lead to inflation, national debt and money printing.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD246 Show Notes: https://www.whatbitcoindid.com/podcast/modern-monetary-theory-with-stephanie-kelton

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

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Jul 31, 2020
Bitcoin: The Hardest Money with Richard James

“To really be in the right mindset, to be receptive to Bitcoin, you’ve got to realise that you’ve got a problem, you’ve got to realise that these people are stealing from you.”
— Richard James

Location: Zoom
Date: Tuesday 21st July
Company: hardmoneyfilm.com
Role: Film Maker

Some of the earliest forms of money included seashells and glass beads before people discovered precious metals and began trading using silver and gold. Anything can be a medium of exchange, but the forms of money that have stood the test of time are scarce.

We are now in the era of fiat money; government-controlled, paper money, with no intrinsic value or backing. Fiat money is easy to produce, and with that, there is a huge incentive for governments to keep printing more of it. They do this for several reasons from bailing out business to providing economic stimulus when their policies have failed.

Throughout history, gold has been the hardest form of money, until 2009, when Satoshi Nakamoto created Bitcoin. With a fixed supply of 21 million and a controlled issuance, Bitcoin is the hardest money we have ever seen.

In this interview, I talk to Richard James, the creator of Hard Money, a film looking at how money has been corrupted and co-opted. We discuss Austrian economics, the similarities between gold and Bitcoin, Hard Money and modern art.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD245 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-the-hardest-money-with-richard-james

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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Jul 28, 2020
Coinbase CEO Brian Armstrong on Bitcoin

“There is really no excuse I can give you, so all I can tell you is we make mistakes as well, and a lot of building a company is trying to learn from mistakes and just get better over time.”
— Brian Armstrong

Location: Zoom
Date: Thursday 23rd July
Company: Coinbase
Role: Co-Founder & CEO

Coinbase is amongst the largest and most established Bitcoin companies in the world, and it has secured itself as one of the most accessible places to buy and sell Bitcoin. Its latest round of funding valued Coinbase at $8.1 billion, and there are rumours that the company plans to be listed on a U.S stock exchange later this year.

Forbes recently called Coinbase ‘Bitcoin’s Guardian Angel’ and claimed it would make ‘crypto safe for all’; however, the view within the Bitcoin community is quite different. Coinbase has come under heavy scrutiny in recent years, most notably for their $13.5 million acquisition of blockchain intelligence company Neutrino. Following this acquisition, it was revealed that the Neutrino founders were involved in the Hacking Team, a team of people who reportedly sold surveillance tools to governments, including authoritarian regimes. With this news, #deletecoinbase was trending on bitcoin twitter, putting CEO Brian Armstrong under considerable pressure to fire the team.

More recently, Coinbase again sparked controversy when The Block reported that the company agreed to sell blockchain analysis software to The Secret Service and the IRS, and was planning a similar deal with the DEA.

In this interview, I talk to Brian Armstrong, CEO and Co-Founder of Coinbase. We discuss the difficulties in running a large startup, regulations, the Neutrino acquisition & providing analytics to government agencies with Coinbase Analytics.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD244 Show Notes: https://www.whatbitcoindid.com/podcast/coinbase-ceo-on-bitcoin-with-brian-armstrong

-----

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Jul 24, 2020
Bitcoin is Punk Rock with Keith Levene

“You vote with your fucking money man, it’s that simple. What is the fucking point of voting for anyone.”
— Keith Levene

Location: Zoom
Date: Monday 13th July

Bitcoin is the most significant disruption to money the world has seen in hundreds of years. It takes power away from centralised parties, and it allows any individual to be entirely self-sovereign and operate in an open system uncontrollable and uncensorable by anyone.

Bitcoin is punk rock!

Punk was not just about music; it was a movement that fought for personal freedom and individualism while remaining staunchly anti-establishment.

Keith Levene is a punk legend and was a founding member of iconic band The Clash and co-founded Public Image Ltd alongside former Sex Pistol, John Lydon.

With the alignment of punk and Bitcoin, it is not surprising that Keith Levene is a Bitcoiner, and a couple of months ago Keith reached out to me and told me he was a regular listener of the show.

In this interview, we discuss the early days of punk rock, the similarities between punk and Bitcoin and why he cares about Bitcoin.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD243 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-is-punk-rock-with-keith-levene

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Jul 21, 2020
Bitcoin vs Gold with Peter Schiff

“Bitcoin is the new kid on the block, so Bitcoin has something to prove, gold doesn’t.”
— Peter Schiff

Location: Zoom
Date: Wednesday 15th July
Role: CEO and Chief Global Strategist

The reasons to hold either gold or Bitcoin are similar, yet the two assets possess different tradeoffs and risks. Bitcoiners often refer to Bitcoin as digital gold or gold 2.0, as they consider it a store of wealth like gold. Whether you prefer one asset or are a proponent of both, these assets help protect individuals against the broken fiat monetary system, inflation and a debt-based economy.

While the assets have many similarities, for some, it isn’t gold and Bitcoin; instead, it is gold vs Bitcoin. Peter Schiff is a stockbroker, financial commentator, economist and gold bug who is hugely sceptical about Bitcoin. Schiff regularly derides Bitcoin on twitter and has done so since 2012 claiming that Bitcoin has no intrinsic value.

In this interview, I speak to Peter Schiff, and we discuss what he doesn’t like about Bitcoin, if he sees the alignment between Bitcoin and gold, the properties of sound money and if Bitcoin should be considered a store of value.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD242 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-vs-gold-with-peter-schiff

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Jul 17, 2020
Bitcoin’s Peaceful Revolution with Knut Svanholm

“If you are a libertarian, and you are not into Bitcoin, you are wasting your time because, this is it, this is the shot, this is the best shot, I would say it’s the only shot that we have at this; a peaceful global revolution.”
— Knut Svanholm

Location: Zoom
Date: Thursday 2nd July
Role: Author

Libertarianism is something I have been wrestling with since I discovered Bitcoin. Hard money leads you down many rabbit holes, and questioning the role of the state is one of the deepest.

At face value, libertarianism sounds perfect; more freedom, less intervention and limited or no state. However, I have struggled to understand how this would play out and if the idea of an anarchist society being civil and moral is just an ideological fallacy rather than a practical reality.

Many libertarians see hyperbitcoinisation as the most likely manifestation of an anarchist society, in that it allows individuals to be self-sovereign, take control of their wealth and remove power from the government.

In this interview, I talk to Knut Svanholm, author of Bitcoin: Sovereignty Through Mathematics and Bitcoin: Independence Reimagined. We discuss libertarianism, collectivism v individualism and how Bitcoin is the only path to a libertarian society.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD241 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoins-peaceful-revolution-with-knut-svanholm

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Jul 14, 2020
What Now for Bitcoin? With Nic Carter, Tuur Demeester, Robert Breedlove & Alex Leishman

Location: Zoom
Date:Tuesday 30th June
Company/project: Castle Island Ventures, Adamant Capital, Parallax Digital & River Financial
Role: Partner, Founding Partner, Founder & Founder

The global economy is in a precarious position. With the coronavirus enforced lockdowns closing down businesses around the world, central banks have been printing money at unprecedented levels to prevent economies from collapsing. While this has eased the pressure in Western nations, some smaller countries are starting to experience the impact. The currency in Lebanon has all but collapsed, and inflation in Zimbabwe has nearly reached 800%. Could high inflation be coming to the UK, Europe and the US?

While the implication of a global economic meltdown may not be known for years, it is precisely this sort of situation that many Bitcoiners have highlighted as the perfect environment for Bitcoin to thrive. So, what comes next for Bitcoin?

This interview is from a panel I recently hosted for Real Vision’s The Crypto Gathering event, with Nic Carter, Tuur Demeester, Robert Breedlove & Alex Leishman. We discuss the current state of the economy, Bitcoin as a peaceful protest and what comes next.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD240 Show Notes: https://www.whatbitcoindid.com/podcast/what-now-for-bitcoin

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Jul 10, 2020
#Unity2020: Ending the Two-Party System with Bret Weinstein

“The obvious thing to do, if you want to win elections in the US, is make policy on behalf of the people… but they can’t do it, because the purpose of these parties is corruption.”
— Bret Weinstein

Location: Zoom
Date: Friday 3rd July
Company/Project: DarkHorse Podcast
Role: Host

In 2017, Bret Weinstein was thrust into the public limelight, when he objected to a change in the college's tradition of observing a "Day of Absence". Bret stating that "there is a huge difference between a group or coalition deciding to voluntarily absent themselves from a shared space in order to highlight their vital and under-appreciated roles, and a group or coalition encouraging another group to go away." It led to widespread protests and claims that Bret was "a racist" and the college was forced to close for two days.

Following the Evergreen College protests, Bret outlined the threat of behaviour like this spilling over into the outside world. His concerns were proven correct after the death of George Floyd.

In the days following Floyd's death, people took to the streets across the US and then across the world. What originated as a Black Lives Matter movement, quickly became infiltrated by far-left groups.

In this interview, I talk to Bret Weinstein, a biologist and evolutionary theorist, who was at the center of the Evergreen College controversy. We discuss the US protests, bipartisan politics, inequality, and where Bitcoin fits into this and #Unity2020.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD239 Show Notes: https://www.whatbitcoindid.com/podcast/unity2020-ending-the-two-party-system-with-bret-weinstein

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Jul 07, 2020
WTF is Going on in the Markets? With Raoul Pal, Caitlin Long & Travis Kling

“This isn’t going to be Trump’s problem, this isn’t going to be J. Powell’s problem, this isn’t Biden’s problem, this isn’t Mnuchin’s problem. It’s not going to be any of their problems, it’s going to be our problem.”
— Travis Kling

Location: Zoom
Date: Monday 29th June
Company/Project: Real Vision, Wyoming Blockchain Coalition, Ikigai Asset Management
Role: Co-Founder & CEO, Co-Founder, Chief Investment Officer

In late 2019 and early 2020, the global economy was showing signs of stress. Even before coronavirus, we saw the Fed having to step in and provide liquidity for the repo market and issuing rate cuts. But the rapid spread of coronavirus around the world and the resulting lockdowns has further exposed cracks in the global economy.

Stock markets experienced high volatility as the economic impact of businesses closing hit with Wall Street suffered its worst day since ‘Black Monday’ and oil prices going negative for the first time in history. Governments responded with unprecedented levels of quantitative easing, and some countries are now seeing their currencies collapsing.

Many analysts have suggested that rather than coronavirus being the cause of this economic downturn, it was instead the black swan event that acted as the pin that popped the bubble and the enormous debts that have been amounting for decades was a disaster waiting to happen.

Over the past year, I have spoken to several economists including Raoul Pal, Caitlin Long and Travis Kling, all of whom warned that a financial collapse is coming.

So, what is happening at the moment, what can we expect to see next, and how can we all prepare?

This interview is from a panel I recently hosted for Real Vision’s The Crypto Gathering, with Raoul Pal, Caitlin Long & Travis Kling. We discuss the early warning signs of systemic issues in the global macroeconomy, what might happen next and where Bitcoin fits into this.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD238 Show Notes: https://www.whatbitcoindid.com/podcast/wtf-is-going-on-in-the-markets

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Jul 03, 2020
The 1 Bitcoin Trump Bet with American HODL & Phil Geiger

“Pete, if me and you watch the election together and Trump wins, I’m going to feel this weird mix of feelings because I will have just taken 5 grand of you… but I’m also going to be pretty fucking worried because I think we’re going to immediately see riots.”
— American HODL

Location: Zoom
Date: Tuesday 23rd July
Company/Project: N/A & Unchained Capital
Role: N/A & Director of Product Marketing

Throughout 2019, President Trump's re-election campaign looked to be on steady ground, but 2020 has been a very different story.

Following the outbreak of COVID-19, countries across the world have gone into lockdown. However, Trump, Fox News and a large number of key Republicans initially played down the risk of the pandemic, and Trump has faced fierce criticism for his lack of decisive action. The US has been the most severely affected country, with around one quarter of all recorded infections and deaths.

During this same period, the killing of George Floyd sent shockwaves across America. Millions took to the streets to protest police brutality and to campaign for Black Lives Matter. Many of these protests quickly turned violent and, again, Trump was criticised for his lack of decisive action and leadership, epitomised when he retreated to his bunker rather than addressing the nation.

The pandemic and protests have opened up the election race, and while Trump has furiously Tweeted, Joe Biden has mostly retreated from public view. Support for Trump appears to be dropping, and most recently, Trump's rally in Tulsa was only attended by 6,200 people in attendance, in a building with a 19,000 capacity.

While 2020 has been mostly negative for Trump's re-election campaign, he does have fiercely loyal supporters, and while the polls indicate Biden has a clear lead, this will likely be another close election.

I tweeted that I would bet anyone $5,000 in Bitcoin that Trump would lose. American Hodl (@hodl_american) took me up on the bet. Phil Geiger, from Unchained Capital, agreed to arbiter the debt, holding the 3rd key in a multisig wallet we set up using Unchained Capital's Caravan product.

In this interview, Hodl, Phil and I discuss the bet, US politics, if the current economic and social situation is positive or negative for Trump, populism, voter suppression and the election race.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD237 Show Notes: https://www.whatbitcoindid.com/podcast/the-1-bitcoin-trump-bet-with-american-hodl-phil-geiger

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Jun 30, 2020
Bitcoin UX & Marketing with Dan Held

“We each have independent narratives, in terms of how we talk about Bitcoin, but we’re each part of the same team and I think we all agree that our objective here is to convert as many people to Bitcoin as possible.”
— Dan Held

Location: Zoom
Date: Friday, 19th June
Company/Project: Kraken
Role: Director of Business Development

The very early believers in Bitcoin tended to fall into two camps, the Libertarians who were drawn to the censorship resistance & self-sovereignty of Bitcoin and the tech-savvy developers who saw a new experimental technology that was the first to truly offer a distributed & decentralised digital money.

As Bitcoin has gained in value, it too has grown to appeal to audiences that don’t necessarily fit into these two camps. Fewer tech-savvy people have come to Bitcoin for ‘number go up’ more than the censorship resistance and decentralisation.

For these people, coming into Bitcoin can be hostile and confusing. The community is understandably frosty to those not willing to learn about the importance of holding their own keys, protecting their privacy and being self-sovereign and the software can be confusing and unintuitive.

For newcomers running a node is difficult, holding your private keys daunting and interacting with the community scary. So, improving both the UX and marketing of Bitcoin is key to attracting less technical people to the space.

In this interview, I talk to Dan Held the Director of Business Development at Kraken. We discuss the importance of easy user experience, how Bitcoin can be a daunting experience, if newcomers should hold their private keys and why marketing matters.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD236 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-ux-marketing-with-dan-held

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Jun 26, 2020
The Myth of Deflation with Jeff Booth

“We have grown up in a different world, we’ve been programmed that deflation is a bad thing.”
— Jeff Booth

Location: Zoom
Date: Friday, 19th June
Role: Entrepreneur & Author

In an inflationary Keynesian economic system, governments target low inflation to ensure a healthy economy and steady growth; however, inflation functions as a hidden tax on savings. Inflation also leads to a drop in purchasing power which drives the incentive to spend and invest rather than save.

Deflation, the opposite to inflation, is when the price of a basket of goods and services drops. Unlike inflation, deflation means the purchasing power of your savings increase over time and therefore, incentivises saving as opposed to spending.

Many traditional economists see deflation as dangerous as people will reduce spend with an expectation of products becoming cheaper, but this leads to an economy based on growth at any cost. Jeff Booth, author of The Price of Tomorrow: Why deflation is the Key to an Abundant Future presents an alternative argument.

In this interview, I talk to Jeff Booth, and we discuss the current economic & social situation, how an inflationary system has caused inequality & division and how Bitcoin & deflation can fix this.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD235 Show Notes: https://www.whatbitcoindid.com/podcast/the-myth-of-deflation-with-jeff-booth

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Jun 23, 2020
Is Apple Abusing its Monopoly Power? With David Heinemeier Hansson

“If Apple chooses in their soul and absolute power to squash us now, there is literally nothing we can do but take it.”
— David Heinemeier Hansson

SHOW DESCRIPTION

Location: Zoom
Date: Wednesday, 17th June
Project: Basecamp
Role: Founder & CTO

New concerns have been raised around Apple's business model after the company rejected future updates for Basecamp's newly launched email app Hey. Apple initially approved the app, but then put it on hold — meaning Basecamp couldn't submit any updates or bug fixes until it added an option for users to subscribe to Hey's service through an in-app purchase.

Basecamp has disputed this decision, saying it shouldn't be forced to allow users to sign up for Hey through in-app purchase, subjecting then to Apple's 30% tax on its subscription fee.

HEY's predicament has highlighted inconsistencies in Apple's policy execution, having allowed other apps with similar business models to exist in the App Store without mandatory in-app subscriptions. They have also made exemptions for streaming applications and rivals; Amazon and Netflix.

The case has raised questions about how Apple is operating and whether it's exercising an anti-competitive advantage over services from third-party developers.

HEY's fight comes as the company is already facing two EU antitrust investigations after Spotify and other firms filed similar complaints to those raised by Basecamp.

In this bonus episode, I talk to Basecamp Founder & CTO, David Hansson. We discuss Apple’s threats to remove their email app HEY from the App Store and Apple’s monopolistic business model.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD234 Show Notes: https://www.whatbitcoindid.com/podcast/is-apple-abusing-its-monopoly-power-with-david-heinemeier-hansson

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Jun 21, 2020
Next Level Bitcoin Privacy with Alex Gladstein & Chris Belcher

“The evolution of Bitcoin privacy has gone from creating doubt, to hopefully, in the future, making it impossible to link coins to a person. That is the key.”
— Alex Gladstein

Location: Zoom
Date: Tuesday 16th June
Project: Human Rights Foundation & Bitcoin Developer
Role: Chief Strategy Officer & Independent Developer

Privacy is a fundamental human right, and with society migrating away from physical to digital cash, we are losing one of the remaining ways to transact privately.

Bitcoin is an entirely public ledger, in that every transaction is broadcast to everyone running the Bitcoin software. Anyone can view these transactions, but there are ways to obfuscate your spends and make it more difficult, or even close to impossible to follow the trail of transactions.

Currently, the most widely used method for adding privacy to bitcoin is to use CoinJoin services like Wasabi or Samourai. These wallets allow you to add your UTXOs to a transaction along with numerous other participants. Coinjoin can significantly increase anonymity, depending on the number of other participants.

Originally put forward by Greg Maxwell in 2013, Coinswap is a somewhat different method of anonymising your footprint on the Bitcoin network. Chris Belcher recently took the idea and put together a proposal and has received funding from the Human Rights Foundation to develop it.

In this interview, I talk to Bitcoin developer Chris Belcher and Alex Gladstein, the Chief Strategy Officer at the Human Rights Foundation. We discuss financial privacy as a human right, Bitcoin privacy, financing devs and Chris’ work on Coinswap.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD233 Show Notes: https://www.whatbitcoindid.com/podcast/next-level-bitcoin-privacy-with-alex-gladstein-chris-belcher

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Jun 19, 2020
Bitcoin's Time is Now with Preston Pysh

“The thing that is creating this destruction, which is the decades-long of inflationary monetary policy, has actually sowed the seed of opportunity to counter it, and I think that counter is Bitcoin.”
— Preston Pysh

SHOW DESCRIPTION

Location: Zoom
Date: Friday 12th June
Project: The Investors Podcast
Role: Host

With the current global economic outlook and rise in social unrest, we are living in unprecedented times. The coronavirus pandemic, subsequent lockdowns and preventative measures put in place by governments around the world has led to many businesses closing or relying on bailouts, and jobless figures are amongst the highest since records began.

The killing of George Floyd at the hands of the police has seen protests against racial inequality have spread across the world. In the US, especially, these protests turned have turned into riots with looting, buildings burnt down and violent clashes.

During this time of uncertainty, the S&P500 and Dow Jones Industrial Average have both climbed ~40% since the drop in March, seemingly proving that the markets can behave irrationally. Some analysts are pointing to dangerous signals that we are heading towards the collapse of currencies.

Are all of these combined events the perfect storm for Bitcoin?

In this interview, I talk to Preston Pysh, author, engineer & the host of The Investor Podcast. We discuss the global macroeconomy, deflation vs inflation and why now Bitcoin is more important than ever.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD232 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoins-time-is-now-with-preston-pysh

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Jun 16, 2020
Microsoft’s Bitcoin-Based Identity Tool with Daniel Buchner

“What we most care about is entering stuff in the most immutable, hardened record imaginable, and right now that’s Bitcoin.”
— Daniel Buchner

Location: Zoom
Date: Thursday 28th May
Project: Microsoft
Role: Head of Decentralised Identity

Social media is omnipresent with most all of us have a Twitter, Facebook or Google account, using them every day for both personal and business. We build connections, relationships and trust through them. However, these companies implement strict controls over the content on their platforms with shadowbanning and deplatforming growing.

The controls which they enforce on their platforms can have further-reaching consequences. As well as offering access via a standard email and password, most websites also provide the option to login via a Facebook, Twitter or Google account. If one of those services decides to deplatform you, then you could lose your account with any associated websites.

To solve this issue and improve on the nature of IDs, Microsoft has launched their Decentralised Identity program in which they offer users a decentralised personal identifier, which is under your control, using the most immutable and secure solution; Bitcoin.

In this interview, I talk to Daniel Buchner, Head of Decentralised Identity at Microsoft to discuss how a Bitcoin-based decentralised identity system works. We also talk about libertarianism, coronavirus and the protests over the death of George Floyd.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.

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WBD230 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-journalism-with-leigh-cuen

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Jun 12, 2020
Bitcoin Journalism with Leigh Cuen

“When I say these things, the reactions I have had in the past that are most comparable, are when I was studying extremist groups.”
— Leigh Cuen

Location: Zoom
Date: Friday 5th June
Project: Coindesk
Role: Journalist

The role of a journalist is to question, educate and inform. A truly free press is a fundamental pillar of a free society, and unbiased and objective reporting is crucial in getting a broad understanding of any industry.

News corporations are now arguably more partisan and divided than ever before, highlighted by how Fox News and CNN have become partisan propaganda outlets. Fox News is pro-Trump and will defend him and his policies almost without exception; alternatively, CNN is pro-democrat and will question almost everything Trump and his administration do. Within Bitcoin, there can be a similar lack of objectivity and willingness to challenge the status quo critically.

The Bitcoin community are often referred to as its immune system, by being aggressive and vocal about anything that seemingly questions the direction or ethos of the network they protect it from coercion and negative outside influences. While this is mostly a useful stance in an industry that has more than its fair share of scammers and questionable projects, this can make the role of journalism within Bitcoin tricky to navigate.

Despite long and firmly held beliefs, Bitcoin evolves, as does the size of the user base and how they use Bitcoin. Journalists must challenge commonly held beliefs, even if these means hard criticism from Bitcoiners.

In this interview, I am joined by Leigh Cuen, a journalist and writer at Coindesk. We discuss the importance of journalism, Bitcoin as a peaceful revolution and the strict narratives that are held by Bitcoiners.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD230 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-journalism-with-leigh-cuen

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Jun 09, 2020
Bitcoin & Black America with Isaiah Jackson

“The plight of black people is not going to change, before, or after this unless we do something about it, economically.”
— Isaiah Jackson

Location: Zoom
Date: Wednesday 3rd June
Project: Bitcoin & Black America
Role: Author

On May 25th George Floyd was killed by Minneapolis police officer, Derek Chauvin. Police were called over allegations that George Floyd had used a counterfeit $20 bill. During the arrest, Chauvin restrained Floyd by placing his knee on his neck and pinning him to the ground, during this time Floyd was pleading with the officer repeatedly stating "I can't breathe".

After 8 minutes and 46 seconds and with paramedics on the scene, Chauvin finally took his knee off Floyd's neck, he was unresponsive and later pronounced dead.

Following Floyd's death, there have been widespread protests across America which have now spread to other countries. In several places in the US, these protests have been violent with looting, fires and large scale destruction.

While the black community is reeling at yet another death at the hands of a police officer, Isaiah Jackson, the author of Bitcoin & Black America suggests that building a black economy offers a way out of institutionalised racism.

In this interview, we discuss the killing of George Floyd and the subsequent protests and riots, racism in the US, and how the black community can use Bitcoin.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD229 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-black-america-with-isaiah-jackson

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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Jun 05, 2020
Spending Bitcoin with Ragnar Lifthrasir

“How does having an asset go up in value change the world? It doesn’t, it’s not going to replace central banks, if anything they will co opt it. What really changes things is the transactions.”
— Ragnar Lifthrasir

Location: Zoom
Date: Wednesday 27th May
Project: Guns N’ Bitcoin
Role: Chief Range Officer

Bitcoin's immune system has evolved from years of defeating threats, staving off bad actors and protecting the core principles of the network.

Many Bitcoiners consider Bitcoin as gold 2.0, threatening the corrupt practices of central banking. As such, small blocks, the fee market and hodling are essential components of defeating fiat. With such staunch views from within the community, even just opening up these topics for debate can see a backlash from Bitcoiners.

Why has spending Bitcoin become such a contentious issue for some? It was the Silk Road and Wikipedia, which proved the importance of censorship resistance, enabling people to circumvent oppressive government rules.

Developers working on Bitcoin are held to the highest levels of scrutiny, and rightly so, but why aren't the ideas around Bitcoin usage equally scrutinised?

In this interview, I talk to Ragnar Lifthrasir from Guns N’ Bitcoin. We discuss the Bitcoiner narratives, why spending Bitcoin is as important as hodling, libertarianism, guns and the 2nd amendment.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD228 Show Notes: https://www.whatbitcoindid.com/podcast/spending-bitcoin-with-ragnar-lifthrasir

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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Jun 02, 2020
Debunking Goldman Sachs Bitcoin Thesis with Bill Barhydt

“It’s their financial incentive, for their client base to not want to put 10% of their assets in Bitcoin.”
— Bill Barhydt

Location: Zoom
Date: Thursday 28th May
Project: Abra
Role: Founder & CEO

This week, Goldman Sachs held an investment advisory call for its clients during which it slammed Bitcoin as an investment and refused to accept it as an asset class.

Goldman's take on Bitcoin was in equal parts bearish and ignorant, with the investment bank listing five reasons for not classing Bitcoin as an asset or a suitable investment:

Bitcoin does not generate cash flow like bonds.

Bitcoin does not generate any earnings through exposure to global economic growth.

Bitcoin does not provide consistent diversification benefits given its unstable correlations.

Bitcoin does not dampen volatility given historical volatility of 76%. Goldman points to March 12 when bitcoin fell 37%.

Bitcoin does not show evidence of hedging against inflation.

Goldman raised numerous regularly debunked points as a negative, from scarcity to hard forks to illicit use cases, and compared Bitcoin to the Tulip mania of the 17th century.

Godman's investor call is not Bitcoin's first time Wall Street has challenged Bitcoin. In 2017 Jamie Dimon, the CEO of JP Morgan called Bitcoin a fraud and Warren Buffet has called all cryptocurrencies worthless. So why do some on Wall Street refuse to accept Bitcoin? Is it down to ignorance or does Bitcoin threaten their business model?

In this interview, I am joined by Bill Barhydt, the CEO and Founder of Abra. We discuss and debunk Goldman Sachs' arguments against Bitcoin as well as the reasons behind their lazy research.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Crypto Mining Tools - Bitcoin mining calculator, directory & comparison
Least Authority - Helping projects build secure technology

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WBD227 Show Notes: https://www.whatbitcoindid.com/podcast/debunking-goldman-sachs-bitcoin-thesis-with-bill-barhydt

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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May 29, 2020
Bitcoin Trading 101 with Flood

“Trading, if it’s going to be the majority of your income, really is, passively, one of the hardest full-time jobs you can choose.”
— Flood

Location: Zoom
Date: Friday 22nd May
Role: Independent Trader

Despite being the best performing asset over the past decade, Bitcoin is an incredibly volatile asset and risky to trade. Outperforming the market is hard, and very few people manage to beat the strategy of buying and holding.

Unlike traditional markets, bitcoin markets are open 24/7/365, and traded on both regulated and unregulated exchanges. High leverage options and low liquidity altcoins make it easy for a newcomer to wipe out their trading accounts quickly.

While few traders are profitable, a large number of the Bitcoin community find the temptation to increase their bitcoin stack hard to resist. I always recommend against trading, especially if you are new to Bitcoin, but this doesn't stop people. So, if you want to try trading, what are the basic things you need to understand?

In this episode, I talk to Flood, an independent Bitcoin trader. We discuss the key things a newcomer to trading needs to know from which exchanges to use, trading strategies, leverage, finding your edge and the common mistakes.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Crypto Mining Tools - Bitcoin mining calculator, directory & comparison
Least Authority - Helping projects build secure technology

-----

WBD226 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-trading-101-with-flood

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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May 26, 2020
Bitcoin is the Answer with Cameron & Tyler Winklevoss

“Bitcoin is the answer, it’s the only hedge or vaccine to give you immunity to the disease of money printing.”
— Tyler Winklevoss

Location: Zoom
Date: Monday 18th May
Project: Gemini
Role: Co-Founders

The Social Network, directed by David Fincher, introduced Cameron and Tyler Winklevoss to the world. The film told the story of how Mark Zuckerberg stole their idea to create Facebook, and would later settle for $65 million.

After settling the court case and retiring from their careers in rowing, where the twins represented the USA in the 2008 Beijing Olympics, they started a fund and discovered Bitcoin. In 2014 they created Gemini, now one of the largest regulated cryptocurrency exchanges.

The film portrayed the twins as cliche sporting jocks, an image which has been hard to shake off. Cameron and Tyler are more at home building things and their success since Harvard is not luck.

My picture of the twins, like most, was created from the Social Network and their appearances on mainstream news discussing finance, but I wanted to know more about them. This interview is, therefore, the interview I have wanted to hear from them. We discuss The Social Network, Facebook and Mark Zuckerberg, how they discovered Bitcoin, regulations and the role of Wall Street.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Cointracker - Bitcoin taxes and portfolio manager
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD225 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-is-the-answer-with-cameron-tyler-winklevoss

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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May 22, 2020
Liquid Bitcoin with Adam Back & Samson Mow

Location: Zoom
Date: Friday 15th May
Project: Blockstream
Role:
CEO & Chief Strategy Officer

Bitcoin: decentralised, permissionless, censorship-resistant and unconfiscatable. Unique properties which make it a unique form of money

For Bitcoin to keep growing, these features mustn't be compromised. However, scaling solutions for Bitcoin, may trade off some of these features for other benefits.

With the vast majority of the community in agreement that block sizes must remain small to maximise decentralisation, Bitcoin is best scaled using layered solutions. The Liquid Network, like the Lightning Network, is a layer two solution that, by sacrificing some aspects of decentralisation and censorship resistance, can improve speed and scalability.

Liquid is a project spearheaded by Blockstream and is aimed at traders, exchanges and market makers to offer faster and more confidential transactions than the Bitcoin basechain. It also adds the ability to build tokens on the network.

In this interview, I talk to Adam Back and Samson Mow Blockstream's CEO & Chief Strategy Officer. We discuss The Liquid Network, the tradeoffs between Liquid and the basechain, how it differs from Lightning network and tokenised securities.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Crypto Mining Tools - Bitcoin mining calculator, directory & comparison
Least Authority - Helping projects build secure technology

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WBD224 Show Notes: https://www.whatbitcoindid.com/podcast/liquid-bitcoin-with-adam-back-samson-mow

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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May 19, 2020
Bitcoin in One Lesson

Location: Zoom
Date: January to March 2020

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin offers you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance, and it is changing the world.

Bitcoin is multifaceted. Some treat Bitcoin as a speculative tool for growing wealth, others as a way of avoiding financial censorship from traditional payment channels, and some use it as a way of claiming their monetary sovereignty and removing power from the banks and state.

On 31st October 2008, Bitcoin was introduced to the world by its pseudonymous creator, Satoshi Nakamoto. Bitcoin brought with it an alternative to the banking system, a way of truly controlling your finances and the opportunity to 'be your own bank'.

Being your own bank is incredibly powerful but is often a confusing and misused term. There are currently 1.7 billion people across the world who do not have access to proper banking services. Bitcoin can fix this by allowing users to hold, send and receive value.

Governments have a history of putting pressure on payment systems and censoring transactions. In 2010 Visa, Mastercard and PayPal all stopped allowing payments to WikiLeaks. Bitcoin fixed this.

Bitcoin's power is in its decentralised, censorship-resistant, neutral, permissionless network that allows you to transact globally without any intermediary or third party and with whoever you want for whatever reason you want. Bitcoin doesn't care.

We will soon be living in a cashless society, government-issued 'fiat' currency will become entirely digital, and we will wave goodbye to any remaining shreds of financial privacy that still exist. Some governments will look to create a cryptocurrency alternative; providing the perfect tool for increased financial surveillance and oppression and represents the antithesis of Bitcoin.

We may have to choose whether we use Bitcoin or a state-run digital currency. So, why should we choose Bitcoin?

In this episode, I have compiled various clips from my 17-part Beginner’s Guide to Bitcoin with some of the leading experts in the space. As an introduction to Bitcoin, this guide covers essential Bitcoin topics from how it works to its monetary policy.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Cointracker - Bitcoin taxes and portfolio manager
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD223 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-in-one-lesson

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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May 15, 2020
Is Bitcoin Trading a Dirty Business? With Willy Woo

Location: Zoom
Date: Sunday 10th May
Project: Hypersheet
Role: Co-Founder

On May 11th, at block 630000 Bitcoin had its 3rd halving, cutting the block reward issued to the miners from 12.5BTC to 6.25BTC. This reduction in the subsidy is seen by many as a bullish event for Bitcoin. With the block reward cut in half, the amount of Bitcoin available for the miners to sell in the market drops from 1800 BTC/day to 900 BTC/day, reducing the sell pressure from newly minted coins.

Bitcoin’s recent drop in price has been attributed, by some, to miners selling off some of their Bitcoin, to support lower revenues with the blog subsidy halving.

While miners have typically been the largest sellers in the Bitcoin market, now that the subsidy has again cut in half, Willy Woo has claimed the majority of the sell pressure will not come from the exchanges.

Woo puts this down to the rise in popularity of the derivatives and futures markets on exchanges such as BitMex and Deribit. These exchanges take fees of up to 0.075% per trade and offer high leverage options of up to 100x. As the popularity of these exchanges has grown, so have the fees.

With the selling pressure from miners dropping and the sell pressure from the exchanges growing, is trading detrimental to the growth of Bitcoin?

In this interview, I am joined by Willy Woo, an on-chain analyst and the co-founder of Hypersheet. We discuss Bitcoin trading, the rise of the unregulated, high leverage futures platforms and if trading is damaging to the growth of Bitcoin.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Cointracker - Bitcoin taxes and portfolio manager
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD222 Show Notes: https://www.whatbitcoindid.com/podcast/is-bitcoin-trading-a-dirty-business-with-willy-woo

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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QR Codes: Bitcoin | Ethereum | Litecoin | Monero | ZCash | Ripplecoin
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May 12, 2020
Libertarianism & Politics with Adam Brown & Sean Finch

Location: Zoom
Date: Tuesday 5th May
Project: The Libertarian Party
Role: Party Leader & Coordinator

Long before Bitcoin dropped on the world, libertarians have criticised government-issued fiat money, arguing that it goes against their core beliefs of political freedom and autonomy, viewing gold as a superior currency. Many libertarians were early to Bitcoin, understanding its sound monetary policy.

I have spoken with many US-based libertarians, but like any political movement or philosophy, there is no one size fits all approach, and the libertarians range in their beliefs from full anarcho-capitalists to minarchists. So, I wanted to get a different perspective from libertarians in the UK, engaged in the political process to ultimately reduce then bring an end to the state.

In this interview, I talk to Adam Brown & Sean Finch, the party leader and coordinator for the UK Libertarian Party. We discuss the current political landscape, the push for less government, healthcare and freedom of speech.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Cointracker - Bitcoin taxes and portfolio manager
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD221 Show Notes: https://www.whatbitcoindid.com/podcast/libertarianism-politics-with-adam-brown-sean-finch

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
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May 08, 2020
Bitcoin is Reshaping the World with Robert Breedlove

Location: Zoom
Date: Monday 4th May
Project: Parallax Digital
Role: Founder & CEO

The properties for measuring the soundness of money include divisibility, durability, portability, recognisability and scarcity. Current government-issued and controlled fiat money fit some of these characteristics but, with the central bank’s ability to print money at will, the current system completely fails as a scarce resource.

Historically metals have been the best form of money, with gold outcompeting all other metals to become the number one metal used as a currency and store of value. It is durable, recognisable and scarce; however, government-issued fiat became a better form of cash as it is more portable and divisible. Since 1971, when the US came off the gold standard, and the government has been able to issue more fiat, the purchasing power of the dollar has fallen. As such, gold has proven to be a better store of wealth than fiat.

Many see Bitcoin as digital gold with the added benefits of being highly divisible and able to be sent anywhere in the world quickly and at low cost. Bitcoin also offers censorship resistance, immutability and the ability to store wealth out of the reach of the government.

Bitcoin is a new paradigm in money.

In this interview, I talk to Robert Breedlove the Founder and CEO of Parallax Digital. Robert recently wrote An Open Letter to Ray Dalio explaining how Bitcoin will reshape the world. We discuss Bitcoin’s ability to outcompete the current financial system.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Cointracker - Bitcoin taxes and portfolio manager
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD220 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-is-reshaping-the-world-with-robert-breedlove

-----

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May 05, 2020
Could Bitcoin Really be Heading to $288k? With Plan₿

Location: Zoom
Date: Wednesday 29th April
Project: Independent Trader
Role: Bitcoin Quant Analyst

Plan₿'s Stock-to-Flow model was warmly received by many in Bitcoin. The chart gave context to price action around halvings, validating the importance of scarcity. The S2F model does have critics, and with the third halving approaching, some had questioned whether the reducing subsidy drive price.

The halving is one of the most significant events in the Bitcoin calendar. Every 210,000 blocks (~4 years) the block subsidy issued to the miners reduced by half. Initially, the block reward was 50BTC, now 11 years later on approximately May 12th, we will have the 3rd halving taking the block reward from 12.5BTC to 6.25BTC. By the end of this reward period on May 12th, 87.5% of all Bitcoin will have been mined.

Satoshi implemented the halving as a way of controlling inflation, front-loading the rewards to kick start the protocol. Dan Held stated that halvings are a viral marketing loop which creates awareness.

Historically, the Bitcoin price in the weeks and months following the halving has seen significant moves to the upside, with supply cut in half Bitcoin becomes more scarce and demand may increase.

The Stock-to-Flow model tracks the scarcity of an asset and following the halving the stock to flow ratio of Bitcoin will rise from 25 to 50, meaning it would take 50 years for miners to mine enough Bitcoin to match the current Bitcoin supply, at the current level of issuance. When applied to non-digital assets such as gold and silver, stock-to-flow becomes a benchmarking tool.

Plan B identified a flaw in the model, the overreliance on time. In the latest version of his model, Bitcoin Stock-to-Flow Cross Asset Model (S2FX), time is removed, and other assets such as gold and silver are added. The new model includes a significant change, Phase Transitions, which identifies that the properties of an asset can change. These changes in the properties of Bitcoin, for example maturing from digital cash to digital gold, identify why the market for the asset grows; thus, there is increasing demand.

In this interview, I talk to Bitcoin Quant Analyst & creator of the popular stock to flow model, Plan₿. We discuss his new S2FX model, the upcoming Bitcoin halving, predicted price action and the impact on miners.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Cointracker - Bitcoin taxes and portfolio manager
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD219 Show Notes: https://www.whatbitcoindid.com/podcast/could-bitcoin-really-be-heading-to-288k-with-plan

-----

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May 01, 2020
Bitcoin Purity with Rodolfo Novak

Location: Zoom
Date: Wednesday 22nd April
Project: Coinkite
Role: CEO & Co-Founder

Bitcoin attracts a broad range of enthusiasts with different backgrounds, experience and political beliefs. The spectrum is broad, from those who treat it purely as a speculative asset, happy to buy and hold, to those who head deep down the anti-state and hard money rabbit hole.

Those who are attracted to Bitcoin's hard money properties may often align with Libertarian ideas, free markets and the separation of money and state. These Bitcoiners will often push hard important topics such as holding your own private keys, validating transactions with a node, enhancing privacy with CoinJoin and generally hating on any altcoin or token project. The most hardcore of Bitcoiners may even avoid exchanges due to KYC/AML legislation and find other ways to accumulate Bitcoin.

Almost all Bitcoiners will fit somewhere between these two extremes, and the beauty of Bitcoin is that it doesn't care about your personal beliefs. As Bitcoin continues to grow, it will attract people who may not align with some of the more anarcho-capitalist opinions but still wish to use Bitcoin.

So, is it the job of more radical Bitcoiners to push everyone towards holding their keys, running a node and improving their privacy and OPSEC? While these are good practices, what about those who do not align with libertarianism or Austrian Economics, should Bitcoin welcome all or be toxic to those who don't follow certain ideologies.

In this interview, I talk to Rodolfo Novak, the CEO & Co-Founder of Coinkite and Bitcoin OG. We get into Bitcoin purity and discuss self custody & personal responsibility, hardware wallets and Bitcoin narratives.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Cointracker - Bitcoin taxes and portfolio manager
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD218 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-purity-with-rodolfo-novak

-----

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Apr 28, 2020
Bitcoin World #8: Bitcoin in Zimbabwe with Anita Posch

Location: Zoom
Date: Monday 3th March
Project: Bitcoin & Co Podcast
Role: Host

Earlier this year, I travelled to Venezuela to find out the reality of Bitcoin adoption in the country and what I found didn’t exactly fit the widely accepted narrative. The truth is that while Bitcoin may have some use cases for the middle and upper classes, the poorest in Venezuela are surviving on a few dollars a month, and Bitcoin is not a useful currency for them.

Zimbabwe, like Venezuela, is often touted as a perfect use case for Bitcoin. Both countries have experienced hyperinflation, both have significant wealth disparity, and both have a high percentage of the population unbanked. So, is Bitcoin more widely adopted in Zimbabwe, and how can Zimbabweans take advantage of it?

In this interview, I talk to Anita Posch, Bitcoin podcaster, speaker and author. We discuss Anita’s recent trip to Zimbabwe, free speech & freedom of expression, scams & MLM, hyperinflation and if and how Zimbabweans are using Bitcoin.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Cointracker - Bitcoin taxes and portfolio manager
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD217 Show Notes: https://www.whatbitcoindid.com/podcast/batw-bitcoin-in-zimbabwe-with-anita-posch

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Apr 26, 2020
The Role of Stablecoins with Jeremy Allaire

Location: Zoom
Date: Friday, 10th April
Project: Circle
Role: CEO & Founder

By complementing Bitcoin trading, and making it easy to send digital dollars around the world, stablecoins continue to grow in popularity.

Commercial banks operate on a fractional basis, holding only a small % of deposits. During challenging economic times, this can lead to what is known as a run on the bank, where depositors attempt to withdraw their funds.

Unlike fractionally reserved banks, some stablecoins claim to be fully backed, meaning (for example) that for every 1 USDC, GUSD or USDT, the company claims they hold an equivalent $1. Stablecoins come with their risks and trade-offs, from the risk of being hacked to platform dependency.

In a time of economic uncertainty, do stablecoins offer a better saving solution than our banks? And what are the pros and cons of self custody vs the high-interest rate savings accounts?

In this interview, I talk to Jeremy Allaire, the CEO & Founder of Circle, the company behind the USDC stablecoin. We discuss the use case for stablecoins, the benefit of being fully backed rather and the impact on the economy from coronavirus.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Cointracker - Bitcoin taxes and portfolio manager
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD216 Show Notes: https://www.whatbitcoindid.com/podcast/the-role-of-stablecoins-with-jeremy-allaire-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Apr 24, 2020
Bitcoin Tech Update with Andrew Poelstra

Location: Zoom
Date: Friday, 10th April
Project: Blockstream
Role: Director of Research

Bitcoin is very conservative. Unlike the typical tech industry ethos of move fast and break things, it is paramount that Bitcoin upgrades and changes to the protocol are absolutely necessary, slow, well planned and well tested.

Two protocol changes that have been discussed for a while now are Schnorr signatures and Taproot. These proposals have lots of positive implications, including an improvement to privacy and scalability, but what will it mean for an average Bitcoin user? What is next on the roadmap?

In this interview, I talk to Andrew Poelstra, the Director of Research at Blockstream. We discuss the upcoming upgrades to the Bitcoin protocol, including Schnorr signatures, Taproot and Miniscript and what that means to Bitcoin users.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Cointracker - Bitcoin taxes and portfolio manager
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD215 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-tech-update-with-andrew-poelstra

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Apr 21, 2020
Bitcoin Finance in a Black Swan Event with Zac Prince & Flori Marquez

Location: Zoom
Date: Wednesday, 8th April
Project: BlockFi
Role: Co-Founders

On March 12th Bitcoin fell by over 50% from ~$8,000 to ~$3,800. One day earlier, the World Health Organisation had escalated the evolving COVID-19 situation to pandemic status, and Bitcoin wasn't alone in this, markets around the world crashed.

The Coronavirus black swan event caused huge volatility which has been a critical concern held by many Bitcoiners about Bitcoin financial service companies. Critiques of these services have questioned what the impact would be of such an event on crypto-backed loans and whether they would lead to high default rates from borrowers. Would the risk management strategies put in place by companies such as BlockFi be robust enough?

Coronavirus would trigger the market collapse that would test the doubter's theories.

In this interview, I talk to Zac Prince and Flori Marquez, the co-founders of BlockFi, a bitcoin financial services business. We discuss how they manage high volatility, operating as a custodian and the state of the Bitcoin market.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Cointracker - Bitcoin taxes and portfolio manager
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD214 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-finance-in-a-black-swan-event-with-zac-prince-flori-marquez

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Apr 17, 2020
WTF Happened in 1971 with Ben Prentice & Heavily Armed Clown

Location: Zoom
Date: Wednesday, 1st April
Project: WTFhappenedin1971.com
Role: Host

The gold standard was a monetary system in which the value of countries currency was directly linked to the amount of gold held in reserve. Although not currently used by any government, it was once a widely used system.

A currency backed by a scarce asset such as gold prevents the government from printing more money without consequences.

In 1931 the Bank of England abandoned the gold standard ‘temporarily’; however, it never returned. Following Britains move to abandon the gold standard, a number of other countries followed suit.

In 1933, during the Great Depression, US residents began hoarding gold which led US President Roosevelt to order all gold worth over $100 to be returned to the federal reserve and exchanged for paper money.

The following year the price of gold, set by the US government, was increased to $35/once which, raising the feds balance sheet by 69%, marking the beginning of the end of the gold standard in the US.

In 1971 Nixon announced that the US would sever all ties between the dollar and gold and would no longer convert dollars to gold at a fixed value of $35., putting an end to any remnants of a gold standard.

WTF Happened in 1971 is a website that charts the economic impact and societal shift that has followed the abandonment of the gold standard.

In this interview, I talk to Ben Prentice and Collin, the creators of WTFhappenedin1971.com. We discuss the gold standard, the Bretton Woods Agreement, monetary policy, inflation and hyperbitcoinisation.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Cointracker - Bitcoin taxes and portfolio manager
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD213 Show Notes: https://www.whatbitcoindid.com/podcast/wtf-happened-in-1971-with-ben-prentice-heavily-armed-clown

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Apr 14, 2020
Uncensored Bitcoin Narratives with Junseth

Location: Zoom
Date: Thursday, 9th April
Project: Junseth’s World
Role: Host

Junseth was the co-host of the hugely popular Bitcoin Uncensored, but in 2017 he and co-host Chris DeRose parted ways.

One thing that made Bitcoin Uncensored both popular but also divisive was their ability to cut through the noise and call out ideas or bullshit in the crypto industry. Their interview with Perianne Boring is still one of the greatest podcasts in the world of “blockchain”.

There are so many topics that I have been wrestling with recently, from the politicisation and government response to the coronavirus pandemic to the very radical Bitcoin narratives offered by some of the most vocal and well known Bitcoiners.

In this bonus episode, I am joined by Junseth the former co-host of Bitcoin Uncensored and host of Junseth’s world. We discuss coronavirus, the politicisation of the pandemic and the economic impact, libertarianism, modern art and Bitcoin narratives.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Cointracker - Bitcoin taxes and portfolio manager
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD212 Show Notes: https://www.whatbitcoindid.com/podcast/uncensored-bitcoin-narratives-with-junseth

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Apr 12, 2020
Bitcoin's Coming of Age with Dan Morehead

Location: Zoom
Date: Friday, 3rd April
Project: Pantera Capital
Role: Co-Founder & CEO

Markets around the world have posted their worst quarterly results in decades with the FTSE, DJI, S&P500 and many others down over 20%. While the coronavirus pandemic is certainly the catalyst behind this drop, it may have been the pin that popped the global economy propped up by cheap credit.

With the markets falling, the forced closure of businesses and unemployment at record levels, governments around the world have taken unprecedented action with their monetary and fiscal policies.

With huge amounts of quantitative easing globally, this economic event again highlights the benefits of Bitcoin’s monetary policy. It was created in the wake of the 2008 financial crisis, born out of years of cheap credit and poor government oversight. Now nearly 12 years since its creation, we are again in a time of financial crisis. So, could this crisis lead people to a non-sovereign, global, immutable, digital, decentralised, hard money?

In this interview, I talk to Dan Morehead, a veteran investor and the co-founder & CEO of Pantera Capital. We discuss the effect of coronavirus on the economy, how the markets will recover, and Bitcoin’s coming of age.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Cointracker - Bitcoin taxes and portfolio manager
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD211 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoins-coming-of-age-with-dan-morehead

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Apr 10, 2020
Is Chainalysis Evil with Jonathan Levin

Location: Zoom
Date: Thursday, 2nd April
Project: Chainalysis
Role: Co-Founder

Bitcoin's strengths lie in its ability to separate money and state, censorship and seizure resistance. It is an open and permissionless network that allows anyone to interact with it.

It is an entirely public network, but that doesn't mean it is anonymous. Addresses do not use personal information but created using alphanumeric characters, and addresses can be monitored to watch transactions and follow the flow of Bitcoin.

Chainalysis is a controversial company, with many claiming they are antithetical to the ideals behind Bitcoin. They offer blockchain analysis software that will scan the blockchain and report on illicit or suspicious uses of Bitcoin. They provide these services to exchanges, governments and law enforcement to help tie real-world identities to Bitcoin transactions.

In this interview, I talk to the co-founder of Chainalysis Jonathan Levin. We discuss whether Chainalysis is antithetical to Bitcoin, how they decide who can use the software, and if they are helping erode privacy.

This episode’s sponsors:
Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Cointracker - Bitcoin taxes and portfolio manager
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin

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WBD210 Show Notes: https://www.whatbitcoindid.com/podcast/is-chainalysis-evil-with-jonathan-levin

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Apr 07, 2020
Is Coronavirus a Challenge to Political Identity with Andreas M. Antonopoulos

Location: Zoom
Date: Wednesday, 1st April
Project: aantonop.com
Role: Speaker, Author & Educator

The coronavirus COVID-19 is an unprecedented global health crisis. There are now more than one million reported cases, the death toll continues to rise, and across the world, economies have been left decimated.

The crisis is bringing to fore many questions regarding the role of the state, challenging political identity. Conservatives are considering socialist policies; Libertarians are considering state responses and socialists are considering free markets.

While government responses vary, different approaches to lockdowns, surveillance and contact tracing are providing live case studies on how to handle the crisis. All these approaches question the role and the reach of the state, especially as some have seized this opportunity to implement new draconian laws.

With stock markets posting their worst quarterly results in decades, central banks have slashed interest rates, offering bailouts and implementing unprecedented stimulus packages.

Did Coronavirus cause these problems or highlight hidden issues? What does a post-coronavirus world look like? And what will the role of the state be?

In this interview, I talk to Andreas M. Antonopoulos, speaker, best selling author and Bitcoin evangelist. We discuss whether Coronavirus is a challenge to political identity, the largest monetary experiment in history, bailouts and money printing.

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WBD209 Show Notes: https://www.whatbitcoindid.com/podcast/is-coronavirus-a-challenge-to-political-identity-with-andreas-m-antonopoulos

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Apr 03, 2020
A Libertarian Response to Coronavirus with Scott Horton

Location: Skype
Date: Friday, 27th March
Project: Libertarian Institute
Role: Founder & Director

With the rapid spread of coronavirus COVID-19, governments around the world are taking drastic action to try and flatten the curve, slow the infection rate and take the strain off already struggling healthcare systems.

China’s authoritarian government quickly implemented strict controls, sealing people into apartments and increasing surveillance. All of which were reported as very useful, at least temporarily in slowing the spread. But, under democratic rule, how far can and should, the state go to save lives?

Many governments have issued lockdowns forbidding people from leaving their homes for all but essential tasks and businesses order to close. Many of the measures are designed as temporary, but some fear that governments will be reluctant to revoke these new controls once the pandemic is over

There is a direct trade-off between the encroachment on our civil liberties and saving lives, so are the strict measures worth it? And where do you draw the line?

In this interview, I talk to Scott Horton, the Founder and Director of the Libertarian Institute. We discuss the ongoing coronavirus crisis, if a state is beneficial in this extreme public health crisis and how an anarchist society would deal with a pandemic.

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WBD208 Show Notes: https://www.whatbitcoindid.com/podcast/a-libertarian-response-to-coronavirus-with-scott-horton

-----

If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Mar 31, 2020
The Social & Economic Impact of Coronavirus with Raoul Pal

Location: Skype
Date: Thursday, 26th March
Project: Real Vision
Role: Co-Founder & CEO

The coronavirus pandemic has led to a global economic crisis. With the movement of people heavily restricted, businesses forced to close and supply chains disrupted.

Stock markets around the world have crashed, leading many to question if the restrictive measures to limit the spread of the virus are worth the economic impact. Donald Trump has stated that the “cure” cannot be worse than the “problem”.

To fight the recession and help those in need, most major economies, including the US, UK, Canada and Germany, have announced unprecedented economic stimulus packages to support the economy and those out of work.

The severity and duration of the impact coronavirus will have on the economy is almost impossible to predict; however, this event will likely alter the world forever.

In this interview, I talk to Raoul Pal co-founder & CEO of Real Vision and macroeconomist. We discuss the political and economic impact of coronavirus, the role of the state and the societal change that will occur.

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WBD207 Show Notes: https://www.whatbitcoindid.com/podcast/the-social-economic-impact-of-coronavirus-with-raoul-pal

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Mar 27, 2020
Bitcoin Tax with Chandan Lodha

Location: Skype
Date: Monday, 16th March
Project: CoinTracker
Role: CEO

Nothing is certain but death and taxes, and for most people, their largest expense is not their rent, mortgage or car, it is their taxes.

Most see taxes as an unavoidable fact of life, however, many Bitcoiners are also libertarians who believe taxation is theft and an infringement on their property rights. So, when I introduced a new What Bitcoin Did sponsor, Cointracker, who helps you prepare cryptocurrency tax returns, I received a few direct messages for supporting “the man”.

I understand that tax and Bitcoin do not necessarily go hand in hand, with tax being somewhat antithetical to Bitcoin. Bitcoin was created to separate money and state and with that taxation. Tax is not something I support or want to pay; however, I do so to avoid fines and legal retribution.

In this bonus episode of What Bitcoin Did, I talk to Chandan Lodha, the CEO of Cointracker. We discuss the ramifications of not filing crypto taxes, techniques to save money on your tax return and major exchanges getting subpoenaed.

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WBD206 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-tax-with-chandan-lodha

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Mar 25, 2020
Coronavirus: The State vs Civil Liberties with Aleks Svetski

Location: Skype
Date: Monday, 23rd March
Project: Amber
Role: CEO

In late January, when the Chinese City of Wuhan was placed into a government-enforced lockdown to prevent the spread of the COVID-19 coronavirus. All non-essential businesses were closed, travel restricted, and people could only leave their home to buy food. While the measures put in place appeared extreme, they helped to ‘flatten the curve’ and reduce the spread of the virus.

Since then, the disease has spread rapidly throughout the rest of the world. Some governments have chosen to follow China, opting for widespread lockdowns. Italy implemented a nationwide quarantine in early March, Spain followed suit shortly after and the UK announced yesterday it was placing the country into lockdown.

There are now 17 countries with lockdown measures in place. The hope is that by reducing the number of people infected, it will, in turn, lessen the strain on local healthcare systems and reduce the number of people dying from the disease.

What is the cost of these draconian measures? Is it worth the impact on the economy and the erosion of civil liberties? Many Bitcoiners align themselves closely with Libertarianism and are against state intervention and therefore disagree with the restrictive measures put in place across the globe. We do though live in a democracy; if the will of the people supports these measures, then should they be supported?

In this interview, I talk to Aleks Svetski, CEO at Amber and a passionate Bitcoiner. We discuss the COVID-19 coronavirus, state response to the pandemic, the economic impact and the threat to our civil liberties.

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WBD205 Show Notes: https://www.whatbitcoindid.com/podcast/coronavirus-the-state-vs-civil-liberties-with-aleks-svetski

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Mar 24, 2020
Bitcoin World #7: Syria - How Bitcoin Can Help Refugees

Location: Bedford
Date: Tuesday, 17th March
Project: Myjam
Role: CEO

In 2011, growing levels of unrest over lack of employment, political freedom and high levels of corruption in Syria led to a small number of pro-democracy demonstrations.

Inspired by the ongoing Arab Spring revolution in nearby countries, the movement began gaining traction within Syria. The Syrian government retaliated with deadly force, leading to widespread calls for the president Bashar al-Assad to resign.

Disdain for the government grew, and with it, the government’s attempts at suppression intensified, escalating into a civil war that has now gripped the country for over nine years. It is no longer a case of for/against Assad as numerous groups and nations have been dragged into the conflict.

The Syrian civil war is the second most deadly in the 21st century and has displaced millions. The total number of Syrian refugees is predicted to be over nine million with many heading to Turkey, Jordan, Lebanon and Egypt, with many migrating through Europe.

For the people of Syria, Bitcoin offers enormous advantages over cash. Within Syria, a large percentage of the population does not have access to banking services, and the Syrian Lira suffers from high inflation. For refugees, there is a risk of theft and confiscation as they make their way to new countries. Once settled, Bitcoin is also a perfect tool for remittances to their families back in Syria.

In this interview, I talk to Moe Ghashim, a Syrian Bitcoiner now living in the UK. We discuss the ongoing civil war in Syria, the devastating physical and economic damage to the country, and how Bitcoin is a perfect tool to help refugees.

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WBD204 Show Notes: https://www.whatbitcoindid.com/podcast/bitcoin-world-7-syria-how-bitcoin-can-help-refugees

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Mar 20, 2020
Coronavirus Lockdown in Italy with Giacomo Zucco

Location: Skype
Date: Friday, 13th March
Project: BHB Network
Role: Director

COVID-19 continues to spread around the world. 169,717 people are now infected, and the death toll stands at 6,518. The virus is highly contagious, making containment incredibly tricky. As the seriousness of the situation escalates, countries around the world are implementing strict controls on movement and contact.

The COVID-19 coronavirus originated in China, where the number of cases has now risen to over 80,000. As the virus has taken hold, the Chinese Communist Party has implemented draconian measures. Despite criticism, the aggressive use of quarantine appears to have been effective in reducing the spread of infections. The number of reported daily new cases in China has dropped from almost 2,000 per day a few weeks ago, to less than 20 at the time of writing.

Italy now has the highest number of cases outside of China, with over 25,000 testing positive. A nationwide lockdown is in effect, with police and soldiers enforcing the quarantine conditions, and on the 15th of March, the EU recorded the highest number of deaths in a single day so far.

Giacomo Zucco is a Bitcoiner who is currently under lockdown in Italy. In this interview, he explains what life is like on lockdown, the measures that have been put in place, how he thinks the governments around the world have dealt with this pandemic and why he believes centralised planning is poorly suited for dealing with the crisis.

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WBD203 Show Notes: https://www.whatbitcoindid.com/podcast/coronavirus-lockdown-in-italy-with-giacomo-zucco

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Mar 17, 2020
Beginner’s Guide #17: Fuck You, Bitcoin! with John Carvalho

Location: Skype
Date: Friday, 6th March
Project: New project coming soon…
Role: N/A

Welcome to the Beginner's Guide to Bitcoin.

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Beginner’s Guide Part 17- Fuck You, Bitcoin! with John Carvalho

Bitcoin is not only the best version of decentralised money the world has seen; it is the best money the world has seen. It takes power away from centralised authorities and allows individuals to transact with whomever they want. With Bitcoin, nobody can confiscate your money, and the protocol has a clear set of rules that everyone on the network can see and follow.

The Bitcoin protocol is robust, secure and self-governing, and with that, Bitcoin is ‘fuck you’ money. If a centralised powers want to seize your Bitcoin or stop payment, Bitcoin empowers individuals to say fuck you in a way that has never been seen before.

Regardless of politics, economic uncertainty or almost any event imaginable, every 10 minutes Bitcoin continues to produce blocks, giving individuals the freedom to use it how they choose.

In Part 17 of the Beginner’s Guide to Bitcoin, I talk to John Carvalho. We discuss removing power from governments, why altcoins are a poor investment, and why Bitcoin is ‘fuck you’ money.

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WBD202 Show Notes: https://www.whatbitcoindid.com/podcast/beginners-guide-17-fuck-you-bitcoin-with-john-carvalho

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Mar 13, 2020
Beginner’s Guide #16: The Future of Bitcoin with Jeremy Welch

Location: Skype
Date: Friday, 6th March

Welcome to the Beginner's Guide to Bitcoin.

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Beginner’s Guide Part 16 - The Future of Bitcoin with Jeremy Welch

In just 11 years, Bitcoin has already achieved so much:
- The price has grown from $1 equal to 1,309.03 BTC in 2009 to $7,950 per Bitcoin (at time of writing), having peaked at $20k in 2017.
- Market capitalisation is nearly $150 billion, and Bitcoin is now on the radar of investors globally.
- A phenomenal ~ 110Exahash secures the network.
- Transactions are regularly well over 300k per day.

Bitcoin is the most decentralised and censorship-resistant currency in the world.

A lot has happened in a short space of time, but what will the future hold for Bitcoin? There are still many challenges for Bitcoin, whether that is scaling, enhancing privacy or UX and ease of use. At the moment, Bitcoin is still for the relatively tech-savvy.

While Bitcoin has been met with either scepticism or fear by governments, in general, there has been little action taken to disincentive people from owning using it. If adoption continues to grow, will the world powers enforce stricter regulations?

In Part 16 of the Beginner’s Guide to Bitcoin I talk to Jeremy Welch to discuss the future of Bitcoin. We get into how governments and central banks will react as Bitcoin poses more of a threat, and if we will see hyperbitcoinisation.

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WBD201 Show Notes: https://www.whatbitcoindid.com/podcast/beginners-guide-16-the-future-of-bitcoin-with-jeremy-welch

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Mar 10, 2020
Beginner’s Guide #15: Bitcoin FUD with Nic Carter

Location: Skype
Date: Saturday, 29th February
Project: Castle Island Ventures
Role: Partner

Welcome to the Beginner's Guide to Bitcoin.

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Beginner’s Guide Part 15 - Bitcoin FUD with Nic Carter

Bitcoin is a peculiar beast, and as with any new technology, it takes some time to understand it and its potential impact on the world. While Bitcoin media reporting is improving, there are still lots of untruths and myths that are perpetuated by mainstream media. Further, competing projects, anti-Bitcoin proponents and the uneducated add to the confusion by repeating false accusations.

Blanket statements such as "Bitcoin is only used by terrorists, criminals and money launderers" or "proof of work is wasteful and uses as much energy as X country", continue to cast a shadow over the technology.

Bitcoin is still a relatively new form of digital money, the likes of which the world has never seen, as such, it is easy to be misled by outdated or poorly formed arguments. “Bitcoin isn't backed by anything” is another commonly used argument, which fails to recognise that neither is fiat currency and is printed at will, whereas Bitcoin has a fixed supply.

In this interview, I am joined by Nic Carter, a partner at Castle Island Ventures, and we discuss and dispel the myths, untruths and FUD that Bitcoin faces.

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WBD200 Show Notes: https://www.whatbitcoindid.com/podcast/beginners-guide-15-bitcoin-fud-with-nic-carter

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Mar 06, 2020
Bitcoin World #6 - What Happened in Venezuela with Stephan Livera & Peter McCormack

Location: Skype
Date: Thursday 27th Feb
Project: What Bitcoin Did & Defiance
Role: Host

Venezuela is in the midst of a political crisis. For 20 years the country has been governed by the socialist party, led by Hugo Chavez from 1999 until his death in 2013. Following his death, Nicolas Maduro, his preferred successor, took control of the country following a much-disputed election.

Under Manduro, the economy and local currency have collapsed, with extreme hyperinflation reaching unprecedented levels. The inflation rate reached 69% in 2014, and by 2018 grew to an astonishing 1,698,488%, leading to significant growth in poverty, hunger and mass migration, with millions leaving the country to find work, food and medical supplies.

With the collapse of the Bolivar, many Bitcoiners, including myself, asked whether Bitcoin could help. Could Bitcoin reduce the impact of hyperinflation? Could locals mine Bitcoin at low energy costs to earn an income? I visited Venezuela to find the answers to some of these questions and asked fellow podcaster Stephan Livera to interview me about my experience. We discuss the realities of life in Venezuela and the myths and truths of Bitcoin adoption.

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Mar 03, 2020
Bitcoin World #5 - Chile: Political Protests, Bitcoin & Climate Change with Guillermo Torrealba

Location: Santiago, Chile
Date: Tuesday, 4th February
Project: Buda
Role: Co-founder

Chile was one of South America’s richest and most politically stable countries, but recent political unrest has led to daily violent protests.

These protests are considered the worst in Chile’s history and were sparked by a rise in the Santiago Metro's subway fare. This was seen as another attack on the working class and highlighted the inequalities prevalent in the system.

Since the protests began on October 7th there have been a reported 29 deaths, 2,500 injuries and over 2,800 arrests.

In this interview, I talk to Guillermo Torrealba the Co-founder and CEO of Buda, a Bitcoin and cryptocurrency exchange that operates in Chile, Argentina, Colombia & Peru. We discuss the ongoing political crisis in Chile, Bitcoin and climate change.

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Feb 28, 2020
Beginner’s Guide #14: Bitcoin Things You Need to Know with Peter McCormack

Location: Skype
Date: Tuesday, 25th February
Project: What Bitcoin Did & Defiance
Role: Host

Welcome to the Beginner's Guide to Bitcoin.

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Beginner’s Guide Part 14 - Bitcoin Things You Need to Know with Peter McCormack

The Bitcoin Beginner’s Guide is all about breaking down the complexities of Bitcoin and making them as simple as possible to understand. In the series, we’ve explored everything from why we need Bitcoin, the economics, the protocol and even privacy, but, what have we learned?

As a breakaway from the regular show structure, I decided to put myself in the hot seat and answer questions about Bitcoin. I wanted to challenge myself, see how much I have learned, and whether I can explain these complicated subjects accurately.

With the help of my producer Danny, we break down the key takeaways from the Beginner’s Guide series. We discuss Satoshi and the whitepaper, the 21 million hard cap, block rewards and size, mining, running a node and privacy.

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

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Feb 25, 2020
Beginner’s Guide #13: The Lightning Network with Jack Mallers

Location: Las Vegas
Date: Thursday, 20th February
Project: Zap & Strike
Role: Founder

Welcome to the Beginner's Guide to Bitcoin.

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Beginners Guide Part 13 - The Lightning Network with Jack Mallers

Bitcoin produces a 1mb block on average every 10 minutes. The block size and time limitations are essential for keeping the blockchain small enough so that anyone is realistically able to run a full node, keeping Bitcoin decentralised.

The block size limit, however, does present a scalability issue, as there is a maximum number of transactions that can be broadcast in each block. The limit led to an acrimonious scaling debate, lasting years which resulted in a fork of the Bitcoin protocol and the arrival of Bitcoin Cash. With Bitcoin, layer two solutions have been hailed as the best way to solve scaling.

The Lightning Network is a Layer 2 solution that runs on top of Bitcoin. By allowing users to create channels, Lightning allows for P2P micropayments that settle almost instantly and at a low cost.

The Lightning Network offers other benefits such as improved privacy because the details of Lightning payments aren't on the public blockchain.

The Lightning Network is still a relatively new protocol, as such, it can be intimidating to newcomers as the user experience has some key differences from transacting on the basechain.

In Part 13 of the Beginner's Guide to Bitcoin, I talk to Jack Mallers, the founder of Zap Lightning Wallet and Strike. We discuss the Lightning Network, the scaling debate, fees, settlement and the future of the protocol.

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

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Feb 21, 2020
Beginner’s Guide #12: Bitcoin Privacy & OpSec with Jameson Lopp

Location: Skype
Date: Monday, 17th February
Project: Casa
Role: CTO

Welcome to the Beginner's Guide to Bitcoin.

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Beginners Guide Part 12 - Bitcoin Privacy & OpSec with Jameson Lopp

When entering Bitcoin, you leave behind the traditional banking system. Bitcoin allows you to take back your monetary sovereignty, and with that, you must secure your coins. With Bitcoin, there is no insurance or fraud prevention, and if you mismanage your private keys and someone can access them, hackers can steal your Bitcoin.

There are several techniques that you can use to protect your Bitcoin from hackers as well as your transactions and personal information from data-hungry companies such as Facebook and Google:

- VPN - Running a VPN masks your identity and location.
- 2FA - Two-factor authentication such as Google Authenticator & YubiKey adds another layer of security to your accounts. (Not SMS 2FA)
- Browsers - Privacy focused browsers such as Tor & Brave help shield your online activity from trackers and fingerprinting
- Hardware Wallets - Using a hardware wallet such as ColdCard, Ledger or Trezor takes your private keys offline and if your seed phrase is stored correctly is a very secure way of holding your Bitcoin
- Running a Node - A node is a program that directly connects to the Bitcoin network and allows you to verify the state of the blockchain and validate transactions. This removes the need to trust someone else's node to verify your transactions and balances.

In Part 12 of the Beginner's Guide to Bitcoin, I talk to Jameson Lopp, co-founder and CTO at Casa, and renowned Bitcoin privacy expert. We discuss Bitcoin privacy, best practices and operational security.

-----

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Feb 18, 2020
Bitcoin World #4 - Venezuela: Bitcoin Won’t Fix Venezuela with Javier Bastardo

Location: Caracas, Venezuela
Date: Thursday, 13th February
Project: Cointelegraph
Role: Journalist

Venezuela is many years into a political and economic crisis. Rooted in the Hugo Chavez presidency and continued by Nicolas Maduro, Venezuela is a mafia dictatorship wearing the cloak of socialism.

Years of economic mismanagement and corruption has led to financial disaster in Venezuelan, comparatively worse than the Great Depression, Zimbabwe's 2008–2009 hyperinflation crisis and the breakup of the Soviet Union.

Hyperinflation led to significant growth in poverty, starvation and mass migration, with millions leaving the country. With the collapse of the currency, many Bitcoiners, including myself, asked whether Bitcoin could help. Could Bitcoin reduce the impact of hyperinflation? Could locals mine Bitcoin at low energy costs to earn an income? I visited Venezuela to find out.

In this interview, I talk to Javier Bastardo, a journalist for Cointelegraph, based in Caracas, Venezuela. We discuss Venezuela's political and economic situation, hyperinflation and the reality of Bitcoin adoption in the country.

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Feb 14, 2020
Bitcoin World #3 - Colombia: Bitcoin, Regulation and Ties to Venezuela with Mauricio Tovar Gutierrez & Alejandro Beltran Torrado

Location: Bogota, Colombia
Date: Tuesday, 11th February
Project: InTiColombia & Buda
Role: Co-Director & Country Manager Colombia

The use case for Bitcoin can vary from country to country. How people use Bitcoin in New York will differ from on the border of Colombia and Venezuela. Where speculators may have access to the best hardware wallets and sophisticated security, those in the developing world may have to share a phone and have limited data connectivity.

As part of my series covering Bitcoin Around the World, I am going to visit the far reaches of our planet, to look at how different communities are using Bitcoin and the challenges they face.

In this interview, I speak to Mauricio Tovar Gutierrez & Alejandro Beltran Torrado, part of the Bitcoin community in Bogota, Colombia. We discuss the politics and economics of Colombia, Bitcoin regulation and their close ties with Venezuela.

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Feb 11, 2020
Beginner’s Guide #11: Bitcoin and the Macroeconomy with Travis Kling

Location: Skype
Date: Tuesday, 4th February
Project: Ikigai Asset Management
Role: Chief Investment Officer

Welcome to the Beginner's Guide to Bitcoin.

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Beginners Guide Part 11 -Bitcoin and the Macroeconomy with Travis Kling

Bitcoin was born in the wake of the 2008 global financial crisis, the worst economic disaster since the great depression. A bubble born out of years of cheap credit and poor government oversight, Satoshi recognised this.

In 2009 as the UK's Chancellor of the Exchequer was preparing to bail out the UK's failing banks, for the second time, Satoshi Nakamoto was releasing Bitcoin to the world.

Bitcoin's monetary policy is the antithesis of the central banks, by removing centralised decisions and forcing the market to fix itself. Further, It is a non-sovereign, global, immutable, digital, decentralised, hard money.

Twelve years on from the global financial crisis, some economists believe we may be heading towards a global recession. If this is correct, can Bitcoin become be a hedge or insurance? Could it even emerge as the global reserve currency?

In Part 11 of the Beginner's Guide to Bitcoin, I talk to Travis Kling, Chief Investment Officer at Ikigai. We discuss the great big fiat experiment, monetary and fiscal policy, social unrest and where Bitcoin fits into all of this.

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Feb 07, 2020
Beginner’s Guide #10: Buying, Spending and Earning Bitcoin with Matt Odell

Location: Skype
Date: Monday, 3rd February
Project: Tales from the Crypt & Rabbit Hole Recap
Role: Co-host

Welcome to the Beginner's Guide to Bitcoin.

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Beginners Guide Part 10 - Buying, Spending and Earning Bitcoin with Matt Odell

Most people looking to buy Bitcoin for the first time will use an exchange such as Kraken or Coinbase because they offer a simple way to buy and sell Bitcoin. Using your debit card or bank transfer, you can quickly swap your fiat currency into Bitcoin.

Once you have bought Bitcoin, you will receive it in your wallet on the exchange. While some exchanges such as Kraken pride themselves on their security, these custodians, who look after hundreds of millions of dollars in Bitcoin are a prime target for hackers. Exchanges are continually fighting off attackers, and many exchange hacks have led to significant losses for those holding their Bitcoin with them.

In Bitcoin, if you don't control your private keys, you don't own your Bitcoin. That means the first thing you should do once you have bought your first Bitcoin is to move it to a wallet you are in control of.

Buying on an exchange isn't the only way to get your hands on Bitcoin. While many buy their Bitcoin, Andreas M. Antonopoulos encourages people to, instead, earn Bitcoin.

While countries like New Zealand have taken steps to make paying employees in Bitcoin easier, it is still not an option that's available to everyone. So, if your employer won't pay you in Bitcoin, how else can you earn it?

Bitcoin cashback is one way of increasing your holdings. Services like Lolli and Fold, offer cashback from retailers, including Amazon, Starbucks, Expedia and hundreds more. With sats back credit cards coming, there are now many ways to stack sats without buying Bitcoin.

In Part 10 of the Bitcoin Beginner's Guide, I talk to Matt Odell, co-host of Tales from the Crypt and Rabbit Hole Recap. We discuss the best way to buy Bitcoin, privacy as well as how to spend and earn Bitcoin.

- - - -

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Feb 04, 2020
Beginner’s Guide #9: Altcoins, A History of Failure with Nic Carter

Location: Skype
Date: Sunday, 26th January
Project: Castle Island Ventures
Role: Partner

Welcome to the Beginner's Guide to Bitcoin.

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Beginners Guide Part 9 - Altcoins, A History of Failure with Nic Carter

From faster transactions to lower fees to better privacy, almost every altcoin promises to improve upon some technical aspect of Bitcoin. The blockchain myth, as some utopian database structure, has been nothing more than a marketing term for fundraising and hype, with little to no real-world traction.

The soul of Bitcoin is not embedded in some technical measure but in the trust of the protocol. Improving upon some technological measure of Bitcoin always comes with a trade-off such as reducing decentralisation or security. The beauty of Bitcoin is in its simplicity, something which can take time to understand.

The altcoin marketing machine can be a tempting distraction for those new to the world of crypto, but the long-term trend suggests that these investments are risky. Even trading altcoins as a way of increasing your Bitcoin holding comes at significant risk. Since the ICO bubble of 2017/18, the vast majority of these projects have all but died, with many holding worthless bags of hopium.

In Part 9 of the Bitcoin Beginner’s Guide, I talk to Nic Carter Partner at Castle Island Ventures a Venture Capital firm focused on public blockchains. We discuss the history of altcoins, their inferiority to Bitcoin, and why the failure rate is so high.

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Jan 31, 2020
Beginner’s Guide #8: How is Bitcoin Legal with Peter Van Valkenburgh & Jerry Brito

Location: Skype
Date: Monday, 27th January
Project: Coin Center
Role: Peter Van Valkenburgh & Jerry Brito

Welcome to the Beginner's Guide to Bitcoin.

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Beginners Guide Part 8 - How is Bitcoin Legal with Peter Van Valkenburgh & Jerry Brito

Bitcoin is still a relatively new technology. However, it is already a very real threat to government-issued fiat currencies and central banks. This has made regulating Bitcoin a tricky proposition for governments.

China took a hard-line approach to this new asset class and in 2013, banned Bitcoin transactions, and in 2017, the government banned exchanges and ICOs. In Bolivia, there is a unilateral ban on all cryptocurrencies.

Other countries have taken a far more progressive view of Bitcoin, embracing it, though often with caution.

Most accepting has been Malta which has created the Malta Digital Innovation Authority; a government body brought in specifically for creating responsible crypto policy.

While the regulatory landscape is complex and jurisdiction-specific, regulations tend to apply more aggressively to businesses in the space than users. These laws and regulations that Bitcoin businesses must comply with, however, still have an impact. For example; the majority of exchanges must follow AML/KYC rules which means when buying Bitcoin on an exchange you do give up your privacy.

In Part 8 of the Bitcoin Beginner's Guide and to help explain and navigate the regulatory landscape I talk to Peter Van Valkenburgh & Jerry Britto, the Director of Research & Executive Director at Coin Center a non-profit focused on the policy issues for Bitcoin. We discuss the Bitcoin regulatory landscape and the implications to the users.

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Jan 28, 2020
Beginner’s Guide #7: Bitcoin's Monetary Policy with Dan Held

Location: Skype
Date: Wednesday, 22nd January
Project: Kraken
Role: Head of Business Development

Welcome to the Beginner's Guide to Bitcoin.

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Beginners Guide Part 7 - Bitcoin's Monetary Policy with Dan Held

In our current economic system, currency is issued by the central banks. As fiat (government-issued money) is no longer backed by gold or any other scarce asset these central banks are able to print, or issue money at will.

As more and more money is printed and enters circulation, the money you hold in your bank account becomes a smaller percentage of the total supply and therefore loses value. This by de-facto promotes spending rather than saving and by many, is seen as a flaw in the financial system.

When Satoshi released the Bitcoin protocol, it offered an alternative to this system: scarce digital money. Satoshi gave Bitcoin a fixed supply of 21 million Bitcoins. He also designed an issuance schedule of 50BTC every ~10 minutes which is cut in half every 210,000 blocks (~4 years).

The exact number of the total supply of Bitcoin is not important and it doesn’t matter that the issuance schedule is designed exactly as it is, what is crucial is that this monetary policy can’t be changed.

These rules are part of the Bitcoin protocol and can not be amended or changed without a hard fork. Social consensus for a change like this would almost certainly never happen and Bitcoiners can be confident that their Bitcoin holdings will not lose value to do inflation.

In Part 7 of the Bitcoin Beginner’s Guide, I talk to Dan Held Bitcoin OG and Director of Business Development at Kraken to look at Bitcoin’s monetary policy. We discuss how the economy works, the 21 million hard cap, the release schedule and block rewards.

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Jan 24, 2020
Beginner’s Guide #6: How Bitcoin Works with Shinobi

Location: Skype
Date: Friday, 17th January
Project: Block Digest
Role: Host

Welcome to the Beginner's Guide to Bitcoin.

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Beginners Guide Part 6 - How Bitcoin Works with Shinobi

As a newcomer to Bitcoin, you can begin using the network without understanding the protocol. While in the early days Bitcoin required a level of technical knowledge, there is now a plethora of companies creating products which abstract this away.

As Bitcoin is such a unique form of money, you should invest time in understanding some of the more complicated aspects such as how the protocol works. While there are good wallets which will take care of validating transactions for you, by operating a node, you can become fully self-sovereign by validating your transactions.

The Bitcoin protocol is complicated, so in this episode, we give you an introduction and overview of how it works:
- Supply - Bitcoin has a fixed supply of 21 million coins and a fixed supply issuance. Starting at 50BTC per block this reward is cut in half every 210,000 blocks (or ~every four years).
- UTXOs - an Unspent Transaction Output which is used as an input for a new transaction.
- Open-source - openly available source code that anyone can access allowing anyone to review and contribute to the code.
- Consensus rules - the rules that full nodes must follow to be in agreement with all other nodes on the state of the blockchain
- Full Node - a program that verifies and validates all transactions and blocks for the entire history of the Bitcoin blockchain
- Mining - the process of adding transactions to the Bitcoin ledger and securing the network. Miners create blocks by spending energy in what is known as proof of work.
- The difficulty adjustment - this alters every 2016 blocks (~2 weeks) based on the time it took to mine the previous 2016 blocks, which is how the network can maintain a ~10 minute block time.

In Part 6 of the Bitcoin Beginner’s Guide, I am joined by Shinobi, host of Block Digest. In this episode, we are looking at how the Bitcoin protocol works. We discuss the supply & halvings, transactions & UTXOs, consensus rules, mining and nodes.

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

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Jan 21, 2020
Beginner’s Guide #5: The History of Bitcoin with Marty Bent

Location: Skype
Date: Wednesday, 15th January
Project: Tales from the Crypt & Rabbit Hole Recap
Role: Host

Welcome to the Beginner's Guide to Bitcoin.

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Beginners Guide Part 5 - The History of Bitcoin with Marty Bent

On October 31st 2008 Satoshi published the Bitcoin Whitepaper on a little known cryptography mailing list. There had previously been many attempts at digital cash, so when the whitepaper was released, it was met with a healthy amount of scepticism.

A few months later on January 3rd 2009 Satoshi Nakamoto mined the genesis block and included the message “Chancellor on brink of second bailout for banks”. The message was important and indicated Satoshi’s plan for a new financial system.

In the 11 years that have passed Bitcoin has gone from a niche experiment to a network worth over $160 billion, but the history has been rollercoaster.

Anyone new coming into Bitcoin is likely to hear about critical points in history, and these events helped define Bitcoin and at times teach valuable lessons.
- January 12th 2009 - The first Bitcoin transaction between Satoshi Nakamoto and Hal Finney
- March 2010 - bitcoinmarket.com started operating as the first Bitcoin exchange
- May 22nd 2010 - Lazlo Hanyecz pays 10,000BTC for 2 pizzas
- November 27th 2010 - SlushPool becomes the first Bitcoin mining pool
- February 2011 - The Silk Road opens, utilising Bitcoin as its currency
- April 26th 2011 - Bitcoin creator Satoshi Nakamoto leaves Bitcoin in the hands of Gavin Andreson
- June 14th 2011 - Wikileaks starts accepting donations in Bitcoin. Visa and Mastercard & ban payments and PayPal freeze their accounts
- April 24th 2012 - Erik Voorhees launches Satoshi Dice a Bitcoin betting game
- June 20th 2012 - Coinbase founded
-
November 27th 2013 - Bitcoin Reaches $1,000
-
January 26th 2014 - Charlie Shrem, CEO of BitInstant, is arrested. Charlie eventually pleaded guilty to aiding and abetting the operation of an unlicensed money transmitting business. He was sentenced to two years in prison
-
February 7th 2014 - Mt. Gox, the largest Bitcoin exchange at the time, halted withdrawals after a security breach. On
- February 24th 2014 the exchange went offline with 744,408 Bitcoin stolen.
- July 2014 - GHash exceeded 51% of the hash rate
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July 17th 2014 - The New York BitLicense is proposed to place regulations on any company or person that uses cryptocurrencies residing in New York.
- January 14th 2016 - Joseph Poon and Thaddeus Dryja release the Lightning Network Whitepaper
-
2016 - 2017 - The scaling war. The community were divided between Segregated Witness and/or bigger block sizes as a way of reducing congestion on the blockchain. This culminated on August 1st with the BCash fork.
- December 17th 2017 - Bitcoin reaches its all-time high of $20,000
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December 18th 2017 - CME launches Bitcoin futures contract
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March 15th 2018 - Elizabeth Stark announces the initial release of lnd 0.4-beta for developers
- July 12th 2019 - Donald Trump tweets about Bitcoin

In Part 5 of The Beginner’s Guide to Bitcoin, I talk to Marty Bent the host of Tales from the Crypt & Rabbit Hole Recap. We discuss the key events in Bitcoin’s history from the launch of the protocol to the Silk Road and the Scaling Wars.

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
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If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Jan 17, 2020
Beginner’s Guide #4: What is Bitcoin with Stephan Livera

Location: Skype
Date: Tuesday, 14th January
Project: The Stephan Livera Podcast
Role: Host

Welcome to the Beginner's Guide to Bitcoin.

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Beginners Guide Part 4 - What is Bitcoin with Stephan Livera

Despite being considered a high-risk asset, there are many reasons why people continue to buy Bitcoin. For some, Bitcoin is a speculative tool, for others, it is a means of payment, and for some, it is a hedge against local fiat currency risk and hyperinflation.

It is the unique features of Bitcoin, which is driving adoption, and it is the growth in adoption, which is driving speculation. One key feature of Bitcoin is that it is censorship-resistant, this means that anyone can send anyone else a payment which no third party can block. This was important to Wikileaks when PayPal froze their account and Visa and Mastercard stopped processing payments. Bitcoin became a lifeline for Wikileaks.

The key features of Bitcoin are open to everyone. With a smartphone and an internet connection, anyone can enter this new financial system without requiring permission from the government or an account with a bank. How is this possible? Because Bitcoin is decentralised.

So what makes Bitcoin censorship resistant? What is decentralisation, and why does it matter? And why are trusted third parties security holes?

In Part 4 of The Bitcoin Beginner’s Guide, I ask fellow podcaster Stephan Livera, what is Bitcoin? We discuss how Bitcoin works, its key features such as decentralisation and censorship resistance and the reasons why people might want to own it.

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
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Jan 14, 2020
Beginner’s Guide #3: Bitcoin's Pre-History and the Cypherpunks with Aaron van Wirdum

Location: Skype
Date: Thursday, 9th January
Project: Bitcoin Magazine
Role: Technical Editor

Welcome to the Beginner's Guide to Bitcoin.

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Beginners Guide Part 3 - Aaron van Wirdum on Bitcoin's Pre-History and the Cypherpunks

Founded by Eric Hughes, Tim May and John Gilmore the cypherpunks were a group of hackers, privacy enthusiasts and crypto-anarchists. The group consisted of some of the most prominent cryptographers including Phil Zimmermann, Adam Back, Nick Szabo and Hal Finney.

The cypherpunks had its factions; some focussed on privacy tools, others on encryption and some on building decentralised monetary systems. It was on the cypherpunk mailing list and during their meetups that the building blocks of Bitcoin were born.

On October 31st 2008, Satoshi Nakamoto emailed the cypherpunk mailing list, telling them "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party." In the 11 years that followed Bitcoin has proven to be the most successful attempt at creating a censorship-resistant and trust minimised digital currency.

Each previous attempt at creating a form of digital money had solved parts of the puzzle, but Satoshi was able to put these pieces together along with his innovations to create Bitcoin. The previous attempts included:
- In the 1990's eCash, headed by David Chaum, attempted to make online payments anonymous.
- In 1997 Adam Back created HashCash, a proof-of-work system to reduce email spam and prevent denial of service attacks.
- In 1998 Wei Dai proposed B-money to allow for an "anonymous, distributed electronic cash system".
- Around the same time, Nick Szabo proposed Bit Gold where unforgettable proof of work chains would share properties of gold: scarce, valuable and trust minimised but with the benefit of being easily transactable.
- In 2004 Hal Finney built upon the idea of Hashcash and created Reusable Proofs of Work.

When Satoshi released the Bitcoin whitepaper, rather than a revolution, Bitcoin was an evolution of all that had come before it with Bitcoin being the most trust minimised, censorship-resistant and hardest currency that has ever existed.

In Part 3 of The Bitcoin Beginner's Guide, I talk to Aaron van Wirdum, a journalist and Technical Editor at Bitcoin Magazine. Aaron explains the cypherpunk movement and the digital money projects which paved the way for Bitcoin.

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Jan 10, 2020
Beginner’s Guide #2: What Is Money with Parker Lewis

Location: Skype
Date: Monday, 6th January
Project: Unchained Capital
Role: Head of Business Development

Welcome to The Beginner's Guide to Bitcoin

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Part 2 - What is Money with Parker Lewis

As the old adage says: money makes the world go round, but why? Money allows for free trade between people, solving the double coincidence of wants problem.

To facilitate trade, early money took many forms: from Rai stones to salt to shells. The characteristics of base metals quickly led them to become the dominant form of money once introduced, with gold being the most valued.

In the 1800s, both the UK and the US, as well as many other countries, implemented a gold standard, allowing banks to issue paper money to represent the gold that they held in reserve. The gold standard maintained gold as a hard currency but with paper bills solving the problem of transporting heavy bullion and divisibility.

In the 1930s, during the depression, the US government devalued gold and made it illegal to own privately. In 1931 the UK abandoned the gold standard, and in 1971 the US severed any remaining ties to it. This marked the beginning of the current era of money.

Whereas gold has the characteristics of sound money - it is durable, divisible, fungible and scarce, the new fiat monetary system didn’t and therefore was open to abuse by government. With its infinite supply, it misses the key characteristics of sound money, scarcity and cost of production.

Bitcoin has all the characteristics of sound money; however, in one key area, it far exceeds gold - transferability. In a digital age, Bitcoin is sound money that can be sent over the internet and has the potential to change the nature of money for everyone.

In part 2 of The Bitcoin Beginner’s Guide, I talk to Parker Lewis head of business development at Unchained Capital. Parker answers the question, what is money? We also discuss the history of money and the characteristics of sound money.

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Glossary
- Block time
- A block that contains Bitcoin transactions is produced on average every 10 minutes.
- Block reward - Each time a miner solves a block they receive a block reward. Currently 12.5 BTC
- Halving - Every 4 years the block reward halves. The next halving is due in May 2020
- Fungibility - The ability to divide something and each of its parts is indistinguishable from another part.
- Stock to Flow - The ratio between the current supply and the production of new supply
- Gold standard - When the central banks issued paper money to represent the gold that they held in reserve.

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Jan 07, 2020
Beginner’s Guide #1: Andreas M. Antonopoulos on Why We Need Bitcoin

Location: Skype
Date: Monday, 11th November
Project: aantonop.com
Role: Author & Public Speaker

Welcome to The Beginner's Guide to Bitcoin

Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.

Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.

The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Part 1 - Andreas M. Antonopoulos on Why We Need Bitcoin

Bitcoin is multifaceted. Some treat Bitcoin as a speculative tool for growing wealth, others as a way of avoiding financial censorship from traditional payment channels, and some use it as a way of claiming their monetary sovereignty and removing power from the banks and state.

The real reason Bitcoin is essential is for all of these reasons and more.

On 3rd January 2009, Bitcoin was introduced to the world by its pseudonymous creator (or creators), going by the name of Satoshi Nakamoto. Bitcoin brought with it an alternative to the banking system, a way of truly controlling your finances and to 'be your own bank'.

Being your own bank is incredibly powerful but is often a confusing and misused term. There are currently 1.7 billion people across the world who do not have access to proper banking services. Bitcoin can fix this by allowing users to hold, send and receive value.

Cross-border payments are expensive and complicated using traditional banking and financial systems, and that's assuming the recipient has the means to receive payment. Bitcoin fixes this.

Governments have a history of putting pressure on payment systems to stop allowing payments to recipients that they deem unfit. In 2010 Visa, Mastercard and PayPal all stopped allowing payments to WikiLeaks. Bitcoin fixed this.

Bitcoin's power is in its decentralised, censorship-resistant, neutral, permissionless network that allows you to transact globally without any intermediary or third party and with whoever you want for whatever reason you want. Bitcoin doesn't care.

We will soon be living in a cashless society, government-issued 'fiat' currency will become entirely digital, and we will wave goodbye to any remaining shreds of financial privacy that still exist. Some governments will look to create a cryptocurrency alternative; providing the perfect tool for increased financial surveillance and oppression and represents the antithesis of Bitcoin.

So, maybe we will have to choose whether its Bitcoin or a state-run digital currency. Should we choose Bitcoin?

This interview previously appeared on my other show Defiance and is a great starting point for the beginner's guide. Here I talk to Andreas M. Antonopoulos to find out. Andreas is a speaker and the best selling author of Mastering Bitcoin and The Internet of Money and is unrivalled in evangelising Bitcoin. Andreas explains why the current monetary and financial system is no longer fit for purpose and why Bitcoin may be the answer.

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Jan 03, 2020
Bitcoin 2019 Review with Matt Odell

Location: New York
Date: Monday, 23rd December
Project: Tales from the Crypt & Rabbit Hole Recap
Role: Co-host

The Bitcoin space moves fast, and 2019 has been no different. Starting the year at the bottom of a harsh bear market after hitting a low of $3,100, Bitcoin began 2019 trading close to $3600. While the price spiked at around $14,000, it has settled in the $7-8k range, representing an approximate 100% rise in price. Also, despite the volatility, the hashrate has reached an all-time high.

Bitcoin has been featured widely in the media, and everyone from NFL player Russell Okung to Donald Trump and even President Xi have spoken about it. The Lightning Network has grown from strength to strength with Bitfinex now accepting Lightning deposits and the Tor Project accepting Lightning donations.

The SEC is still yet to approve a Bitcoin ETF with Bitwise' proposal the latest to be rejected. Jack Dorsey launched Square Crypto, and Facebook made plans to launch a 'cryptocurrency' called Libra.

With exchanges, Cryptopia was hacked and subsequently shut down, and QuadrigaCX suffered the same fate following the suspicious and shock death of its CEO Gerald Cotten.

So 2019 has been a busy year in Bitcoin and my final interview of the year is with Matt Odell, co-host of the Tales from the Crypt and Rabbit Hole Recap. We take a look back at 2019, discussing Bitcoin only businesses, the most important projects and our predictions for 2020.

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Dec 31, 2019
The Lightning Network 2019 Review with Jack Mallers

Location: Boulder, Colorado
Date: Monday, 23rd December
Project: Zap
Role: Founder

The Lightning Network is a layer two solution that allows users to send and receive Bitcoin 'off-chain'. Sending and receiving transactions on Lightning is both fast and cheap, allowing the Bitcoin network to scale while maintaining decentralisation by keeping the basechain block size small.

The technology isn't perfect though. In its current state, the Lightning Network can be complicated and intimidating to newcomers as the user experience has key differences from transacting on the basechain. Lightning is developing at pace, and UX design is abstracting away many of the intricacies of the network.

Lightning as a micropayment mechanism for the mainstream market is just one potential use. Jack Mallers, Founder of the Lightning Network wallet Zap, thinks that Lightning may have a far broader value proposition.

In this interview, I review The Lightning Network in 2019 with Zap founder Jack Mallers. We discuss why Lightning matters, private key management, custodial v non-custodial wallets, and how proprietary trading firms may be the next big use case.

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Dec 27, 2019
Bitcoin World #2 - Bitcoin Youth Programme in El Salvador with Michael Peterson

Location: El Salvador
Date: Thursday, 19th December
Project: Bitcoin Beach
Role: Founder

El Salvador is a country gripped by gang violence. It consistently ranks among countries with the highest murder rate per capita and is one of the deadliest countries in the American subcontinent. Gangs are prolific, and unlike other Central and South American countries, the drug route through Central America misses El Salvador, so instead, the gangs here turn to extortion and murder.

Jobs are scarce, and a considerable percentage of men leave the country in search of work, others are pulled into gang life, imprisoned or murdered. The breakup of the family and the difficulty of finding a job makes recruiting new gang members easy, perpetuating the gang culture.

Bitcoin Beach is trying to help. The organisation is building a Bitcoin economy in Punta Mango, a small beach town in El Salvador. Bitcoin Beach offers free Bitcoin classes and pays young people in Bitcoin to do work such as clean the polluted rivers and streets and stay in education. Local businesses are incentivised to accept Bitcoin, creating a local Bitcoin circular economy.

In this interview, I speak to Michael Peterson founder of Bitcoin Beach, to discuss the project, creating a Bitcoin economy, custodial vs non-custodial solutions and the gangs and violence that plague El Salvador.

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Dec 24, 2019
Bitcoin World #1 - What Argentina Can Teach Us About Bitcoin with Ariel Muslera and Diego Gutierrez-Zaldivar

Location: Uruguay
Date: Sunday, 15th December
Project: arielmuslera.com | IOVLabs
Role: VC Investor | CEO

Bitcoin is still mostly a speculative asset in the developed world. However, in countries with a history of poor monetary policy, Bitcoin is now a viable hedge against high inflation and government seizure.

Argentina's recent history is one of poor monetary policy. Between 1991 and 2002 the Argentine Peso was pegged to the USD with the central bank claiming to operate a full reserve. This peg was used to combat hyperinflation and initially appeared to work with inflation falling from 3000% in 1989 to 3.4% in 1994.

The reality was very different, and the strong USD overvalued the Argentine Peso and made international trade difficult. In 2001 the dollar-pegged Argentine Peso was abandoned, and the Argentine peso has lost over 98% of its value with 1 USD now buying almost 60 pesos.

With hyperinflation and the capital controls used by the Argentinian government, many locals look to find ways of protecting their wealth with hard assets. While many will use USD and real estate, more and more are turning to Bitcoin as a way to preserve their capital.

In this interview, I speak to Ariel Muslera and Diego Gutierrez-Zaldivar about the current state of monetary policy in Argentina, the political landscape, and how more and more Argentinians are using Bitcoin to hedge risk.

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Dec 20, 2019
Quadriga: What Happened to Gerald Cotten with Nathaniel Rich

Location: Skype
Date: Wednesday, 17th December
Project: nathanielrich.com
Role: Author

In December 2018 Gerald Cotten, the CEO of Canadian crypto exchange Quadriga, was on his honeymoon in India with his new wife. While there Gerald fell sick and a few days later died from complications related to his Crohn's disease.

Gerald was the only person who held the private keys to Quadriga's cold storage wallet, leaving an estimated CA$250m ($190 US) of customer deposits unrecoverable. In January 2019 QuadrigaCX, Canada's largest cryptocurrency exchange shut down for business, filing for bankruptcy in April.

While initially it was suspected the loss was down to gross incompetence and failure to structure a contingency plan, conspiracies quickly started to circulate:
- Had Gerald faked his death in India as an elaborate exit scam?
- When Gerald lost $millions of Ethereum in a smart contract bug a couple of years earlier, had he used customer funds on other exchanges to try and trade his way out of this hole?
- Had Gerald lost funds he was harbouring for criminal gangs and escaped to avoid repercussions?

To add to the mismanagement of funds and keys the events leading up to and following his death were equally suspicious:
- Just days before the trip Gerald had signed a new will leaving his entire estate to his wife.
- Following his death, Gerald's wife did not request an autopsy and removed the body from the hospital.
- His death was announced on January 14th, Despite dying on December 9th.

Whatever the course of events in India, the death and mismanagement of the exchange and private keys raise many questions, and there are likely parts of the story we may never know.

In this interview, I talk to author Nathaniel Rich about his investigation into Quadriga for Vanity Fair. We discuss the suspicious death of Quadriga's CEO Gerald Cotten, the missing $250m of customer funds and the FBI's investigation.

Note: following my interview with Nathaniel, the lawyers representing the customers of Quadriga have asked Canadian authorities to exhume Gerald's body. You can read more about that here.

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Dec 17, 2019
Trace Mayer on Proof of Keys

Location: Skype
Date: Tuesday, 26th Nov
Project: Premier Ark LLC
Role: Manager

When Bitcoin is held on an exchange or with another 3rd party custodian, that 3rd party owns the Bitcoin, they have control of the private keys and can they have the ability to use it as they choose. As the customer to that custodian, all you have is the promise of that Bitcoin.

One of the core fundamentals of Bitcoin is that it allows you to become self-sovereign; so is adding a layer of trust to a trustless system antithetical to what it was designed to do?

On the anniversary of Bitcoin’s genesis block Trace Mayer’s Proof of Keys campaign encourages everyone to take control of their Bitcoin and remove it from these 3rd party custodians. Not only does this encourage everyone to control their private keys, but it also ‘stress tests’ the exchanges and offers proof that they are running fully reserved.

In this interview, I talk to Trace about his Proof of Keys campaign, exchange hackings, claiming your monetary sovereignty and stress testing custodians.

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Connect with Trace:
- On Twitter @TraceMayer
- On LinkedIn
- On Medium
- On CrunchBase
- His website: https://www.tracemayer.net/
- The Bitcoin Knowledge Podcast
- Proof of Keys

Mentioned in the interview:
- Hackers liquidated 3.2 million from Cryptopia hack
- Hacked Cryptocurrency Exchange Cryptopia Goes Into Liquidation
- The History of the Mt Gox Hack: Bitcoin’s Biggest Heist
- The Strange Tale of Quadriga
- BlockFi
- Celsius Network
- Genesis Capital
- Executive Order 6102
- Coinbase move 5% of all Bitcoin
- Reddit thread on Mimblewimble and Extension Blocks with Pieter Wuille
- Mimblewimble
- Bitcoin Whitepaper

Other relevant WBD podcasts:
- WBD158: Be Your Own Banker with Pascal Gauthier
- WBD153: Trace Mayer on Claiming Your Monetary Sovereignty with Bitcoin
- WBD127: Saifedean Ammous on Understanding Bitcoin Economics
- WBD058: Trace Mayer on Why You Must Own Your Bitcoin Private Keys
- WBD042: Casa's Jeremy Welch and Alena Vranova on Crypto Custody

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Dec 13, 2019
Holly Randall on Porn, Censorship and Bitcoin

Location: Los Angeles
Date: Monday, 25th Nov
Project: hollyrandall.com
Role: Pornographer

Holly Randall is a second-generation pornographer and the daughter of Suze Randall, the first female staff photographer for both Playboy and Hustler. In 1998, at the age of 20, Holly became a photographer for the family-run website suze.net.

Having worked in the industry for 20 years, Holly has experienced the porn industry pre and post-internet and witnessed how the industry has adapted to the growth in free online content.

Despite porn being legal, like others in the adult industry, Holly faces a constant battle with financial censorship. Banks regularly close accounts, credit cards are often rejected, payment operators freeze accounts and standard business services such as employee insurance can be hard to get.

With its censorship resistance, trustless and decentralised nature, Bitcoin is a natural fit to help the adult industry solve problems of financial censorship; however, as of now, it is a niche solution for the tech-savvy.

In this interview, I talk to pornographer Holly Randall about censorship. We discuss how the industry has changed, financial censorship, whether Bitcoin can be a solution and the misconceptions and misrepresentations of adult performers.

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Dec 10, 2019
Jimmy Song Killing the Hopes and Dreams of Shitcoin Bagholders

Location: Austin
Date: Friday, 23rd Nov
Project: Jimmy Song Consulting
Role: Bitcoin Educator, Developer and Entrepreneur

Bitcoiners regularly criticise altcoins; so much so that the term “shitcoin” has become synonymous with anything which isn’t Bitcoin. From the centralised nature of these projects to premines, often Bitcoiner will identify altcoins as a poor investment with some going as far as calling everything that isn’t Bitcoin a scam.

Why are these projects still able to raise $millions in funding and why are investors so divided in their opinions? Are Bitcoiners right that Bitcoin is the only use for a blockchain or are they just toxic and close-minded? Are multicoiners right that this is a new wave in decentralised technology or holding a bias due to their bag holding?

How are inexperienced investors meant to navigate this minefield?

There are nearly 5000 cryptocurrencies with many claiming to have the superior-tech to Bitcoin; whether that’s faster block times or cheaper transactions, Turing complete smart-contracts or environmentally friendly consensus mechanisms. But at what cost? The key trade-off with blockchain technology is decentralisation, where Bitcoin outperforms every other cryptocurrency in the market on almost every measure.

So if decentralisation is key and Bitcoin is king, why do altcoins continue to attract investors despite apparent risks? Is it all down to marketing and the centralised foundations, creators and businesses and are they all doomed to fail?

In this interview, I talk to Jimmy Song; Bitcoin educator, developer and author. Following his recent article “On Altcoin Valuation”, we discuss why altcoins are a poor investment, the misuse of blockchain and why shitcoins rely on marketing to grow.

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Dec 06, 2019
Tuur Demeester on The Bitcoin Reformation

Location: Austin
Date: Thursday, 22nd Nov
Project: Adamant Capital
Role: Founding Partner

The 16th-century Reformation was a political and cultural upheaval that spread across central and northern Europe. Reformers questioned the power and authority of the Roman Catholic Church and wanted change.

With the Reformation came decades of rebellion and several wars. However, the Reformation also brought with it a significant political and religious shift to greater freedom and a move towards the world we now live.

Could a new Reformation have Bitcoin at its heart? Will cryptography, computation and telecommunications be the 21st-century equivalents of the printing press, bookkeeping and the hourglass of the 16th century?

Millennials have grown up in the wake of 9/11, where safety is not guaranteed, and trust is not a given. The millennials early adulthood witnessed the 2008 global financial crisis, living through a recession and budget cuts alongside reckless and immoral banking practices.

Millennials are also the primary adopters of Bitcoin, and by 2029 they are expected to be the generation with the largest share of disposable income. They will likely be controlling the management of significant funds and institutional money, and this could mean a paradigm shift in the way the world sees and uses Bitcoin and lead to the Bitcoin Reformation.

In this interview, I talk to Tuur Demeester; macro investor, analyst, business cycle expert and founding partner at Adamant Capital. We discuss his recent article The Bitcoin Reformation, Bitcoin financial services and distrust in the current banking system.

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Dec 03, 2019
Gun Violence Prevention with Texas Gun Sense

Location: Austin
Date: Thursday, 22nd Nov
Project: Texas Gun Sense
Role: Executive Director (Texas Gun Sense) & Board Member (c)

The 2nd Amendment to the U.S constitution outlines Americans’ right to keep and bear arms. America is now home to more guns than people and is the country with the highest number of deaths by firearms in the world.

The gun debate continues to polarise the nation. While many firmly stand by the constitution and see removing their right to own a gun as an attack on their civil liberties, others see the weapons as a dangerous and unnecessary threat responsible for tens of thousands of deaths per year.

Texas Gun Sense is a group who come at this debate with a more nuanced viewpoint. They aim to bring ‘common-sense, fact-based gun policies to Texas’. The organisation is not anti-gun, but they do support increased and more rigorous background checks alongside education to improve gun safety practices.

In a previous episode, Ragnar Lifthrasir joined me on What Bitcoin Did, and we discussed why he believes it is every American’s right to own a gun. To continue the discussion, in this episode, we hear from Executive Director at Texas Gun Sense, Gyl Switzer and Leesa Ross from Lock Arms for Life, whose son was killed in a handgun accident. We discuss their approach to gun ownership while still supporting the 2nd Amendment.

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Nov 29, 2019
Michael Goldstein on Rejecting All Forms of Activism

Location: Austin
Date: Thursday, 22nd Nov
Project: Noded Podcast
Role: Co-Host

The ideology of Bitcoiners aligns closely with Libertarians as both value self-sovereignty and self-governance. Because of this, going down the Bitcoin rabbit hole often leads to Libertarianism and Austrian Economics.

There are though many levels of Libertarianism. Some believe in minarchism, the reduction but not complete removal of the state while others believe in full anarchy where there is no centralised state planning, and the free market determines what is best. Alternatively, some see it as a personal philosophy that they follow within the lines of current government and state systems.

How would the free market operate in an imperfect world? Without regulations, would it be possible to keep people safe? What about human greed? Would there be a social cost to a society structured this way?

To find out the answers to some of these questions, I talk to Michael Goldstein, the co-host of the Noded Podcast and President of the Nakamoto Institute to discuss Libertarianism. We discuss Libertarianism, the free market, rejecting activism and the transition to an anarcho-capitalist society.

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Nov 26, 2019
Reflecting on Two Years of What Bitcoin Did with Luke Martin

Location: Indianapolis
Date: Monday, 18th November
Project: Coinist Podcast
Role: Host

Two years ago I sat down with Bitcoin trader & analyst, Luke Martin in LA to record the very first episode of What Bitcoin Did

Luke has dropped out of school to focus on his trading full time, and he’s now known as being one of the most followed in his field. He’s also a fellow podcaster, the host of the Coinist Podcast and even been a guest on CNN.

By coincidence, we managed to find ourselves in the same city exactly two years ago to the day that Luke and I recorded WBD001. Two years is a significant amount of time in Bitcoin and lots has happened. Luke and I have remained friends, and we have supported each other along the way, Luke telling me to stop fighting on Twitter, and I have encouraged Luke to continue podcasting.

As a fellow podcaster, Luke speaks with people in the industry, gaining insights predominantly on the Bitcoin market, trading and exchanges. In this interview, we sit down and reflect on the two years since we recorded WBD001 and discuss Bitcoin, financial services and Twitter.

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Nov 22, 2019
Nelson Minier on Running a Bitcoin OTC Desk

Location: New York
Date: Thursday, 14th Nov
Project: Kraken
Role: Head of OTC Sales & Trading

Liquidity is crucial for any tradeable asset. A liquid market means lots of buyers and sellers, making it easy to move in and out of a position without paying a premium or selling at a discounted price. Increased liquidity also means a smaller spread (the gap between the highest bid and the lowest ask).

Bitcoin is the most liquid cryptocurrency by far but compared to traditional stocks, bonds or precious metals, it is still comparatively illiquid. For smaller trades this doesn’t present a significant problem, however, for large traders buying and selling tens, hundreds or even thousands of Bitcoin, this can present a challenge as even $100,000 can move the market significantly, especially during times of low volume.

Large traders have the option of using an over-the-counter service which allows them to place an order which is fulfilled by the OTC desk utilising multiple exchanges or other OTC clients orders to limit the effect that these large trades have on the market.

In this interview, I talk to Nelson Minier. Nelson is a Wall Street veteran who, for the last two years, has been head of Kraken’s OTC desk. We discuss working on Wall Street, how an OTC desk operates, and if institutional investors are buying Bitcoin.

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Nov 19, 2019
What Bitcoiners Can Learn from the OneCoin Scam with Jamie Bartlett

Location: London
Date: Monday, 11th Nov
Project: The Missing Cryptoqueen
Role: Host

OneCoin, a project founded by Ruja Ignatova, promised a financial revolution. By the time Ignatova disappeared, the scam was alleged to have received over $5bn in investment (though some estimates may put it at over $15bn).

While OneCoin claimed to be running a private blockchain, in reality, it was a Ponzi scheme where buyers purchased 'packages' and received 'educational material'. During the process, they earned OneCoin tokens, and there were incentive schemes to onboard new users.

Once people had received their OneCoins, the only place they could trade them was with another OneCoin user on the scheme's private 'exchange'. While the scam began to unravel with the disappearance of Ruja and the arrest of her brother, many struggled to accept it was a scam and money continued to pour in.

The word scam is thrown around loosely in crypto, often from cult-like followers who disagree with an ideology that another coin possesses or sometimes due to a lack of knowledge. While some projects may be misguided or have questionable use-cases, not all are scams like OneCoin Bitconnect and PlusToken.

Experienced investors see these projects and immediately identify the warning signs; sadly, this is not necessarily the case for newcomers. The language used in Bitcoin and crypto can be confusing, and when regular people hear or read about a project that is 'The New Bitcoin' with promises the project is like buying Bitcoin at $1, $10 or $100, these scams can quickly suck in naive investors.

So, should Bitcoiners be doing more to spread awareness of these scams as they arise and what can Bitcoiners learn about guiding new investors from scams such as this?

In this interview, I talk to Jamie Bartlett, host of the BBC's podcast The Missing Cryptoqueen, an investigation into OneCoin and the disappearance of its founder Ruja Ignatova. We discuss scams, Ponzi's, pyramids, cults and multi-level marketing.

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Nov 15, 2019
Jim O’Shaughnessy - From Wall Street to Bitcoin

Location: New York
Date: Tuesday, 22nd Oct
Project: O'Shaughnessy Asset Management, LLC
Role: Chairman & Chief Investment Officer

Jim O'Shaughnessy is a true Wall Street Legend and the best selling author of What Works on Wall Street and Invest Like the Best.

With over 30 years of research in equity returns, Jim O'Shaughnessy is a pioneer of quantitative equity research, with over $6 billion under management.

How he achieved this success is no secret, and his four books share, in detail, what he's learnt along the way. As a New York Times bestseller, he writes on the roles that value, quality and momentum all play in investing.

His grandfather's success sparked Jim's interest in investing. O'Shaughnessy's grandfather built what was, one of the world's largest privately-owned oil companies, before giving away 95% of his fortune. It was family discussions around what to do with that money which got 17-year-old O'Shaughnessy interested in the markets.

In this interview, I sat down with Jim to discuss his career, media power & bias, censorship and free speech, quantitative easing and investing.

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Nov 12, 2019
Dark Markets and Bitcoin Adoption with Cedric Dahl

Location: Los Angeles
Date: Friday, 18th October
Project: 1000x
Role: CEO

Bitcoin is a public ledger, which allows anyone to view any transaction and address thus offer pseudonymity rather than anonymity. What this means is that Bitcoin can provide a certain level of privacy if your Bitcoin address is not attached to personal information, for example, exchange KYC data.

Bitcoiners wanting to protect their privacy must take careful steps, a lapse in concentration can identify you as the owner of a particular address. By accessing a block explorer without using Tor or a VPN, posting your public key online, utilizing a KYC compliant exchange are all examples of how chain analysts can identify you.

Because of this, Bitcoin may not seem like the perfect tool to facilitate transactions on dark markets, yet it currently accounts for the vast majority of them. So why is this?

Bitcoin, by design, as a censorship-resistant currency enables dark markets. If you want to purchase something that your government deems illegal, and If you are willing to take the necessary precautions (using a VPN or Tor, CoinJoin and not reusing addresses) you can maintain your privacy.

Since the Silk Road, Bitcoin has been the most used cryptocurrency used to buy drugs, firearms, identity documents and anything else from dark markets. By tracking the data in this space are we able to judge whether Bitcoin adoption is growing? And, is censorship resistance the only use-case that matters?

In this interview, I talk to Cedric Dahl from 1000x. 1000x is a private think tank focused on researching Bitcoin usage data. We discuss dark markets, sanctioned states using Bitcoin and censorship resistance.

NOTE: after initially posting this interview I received some direct messages questioning some of Cedric’s claims, company and track record. Wanting to avoid potentially promoting a scammer, I pulled the interview and discussed these items with Cedric.

I am allowing the interview to be public as I believe listeners can make their own decisions but with the following notes:
- I do not support or promote his business 1000x. I do not believe in tokens and the opportunity which Cedric and his team are targeting.
- I can’t validate his record of entering into Bitcoin.
- His dates regarding the Silk Road are wrong.
- I can’t validate any other of his statements.

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Nov 11, 2019
Is Bitcoin Selling Out with Joe Weisenthal

Location: New York
Date: Friday, 25th October
Project: Bloomberg
Role: Editor

The Winklevoss twins first Exchange Traded Fund (ETF) application was rejected by the Securities and Exchange Commission (SEC) in March 2017.

In the 2 ½ years since, there have been a number of other applications for an ETF, all of which have been rejected, with the SEC citing concerns regarding manipulation, volatility and fraudulent activity.

But does a government-granted ETF fit with the ethos of Bitcoin?

Bitcoin was born out of the cypherpunk movement, with the goal of taking power away from the government by giving people a trustless and censorship-resistant monetary system. As such. seeking approval from a government-run body for an investment fund is seemingly against this ideology.

It seems apparent that most Bitcoiners’ motivation behind seeking an ETF is likely down to money. The added liquidity, easy access to investors and media coverage an approved ETF would garner may well lead to a price increase and thus an ETF approval seems like an easily identifiable path to another bull market.

Could this be interpreted as Bitcoiners being hypocritical and caring more about the price of their coins than the intended goal of a censorship-resistant currency? On the other hand, it could be seen as a significant achievement in terms of mainstream adoption. After all, nothing aides Bitcoin’s adoption than media coverage and price-driven FOMO.

In this interview, I talk to Bloomberg Business News Editor, Joe Weisenthal. We discuss contradictory Bitcoin ideals and challenging the status quo, ETF’s, censorship resistance, privacy and the current state of the global economy.

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Nov 08, 2019
Hotep Jesus on Nobody is Born a Maximalist

Location: New York
Date: Friday, 25th October
Project: Independent
Role: Tech Startup Advisor, Author & Speaker

The name Hotep Jesus hit many radars for the first time when he appeared as a guest on the Joe Rogan podcast. The tech startup advisor, was there to speak about his latest book, and during the interview, the topic of blockchain was raised and BSV was mentioned.

The mention of BSV, although brief, caused a significant backlash towards Hotep on crypto twitter despite it not being Hotep who raised it. Many were angry that he chose to speak out seemingly in favour of the altcoin and felt he was 'promoting' it without the required knowledge and was adding to the misinformation and confusion in the space.

Although misguided, I could relate to Hotep's confusion and felt that his conversation with Rogan was a typical example of many people who are beginning their journey into Bitcoin. I too had attempted to raise the confusion when a friend asked me which Bitcoin to buy on Coinbase as he saw two options. The "2 Bitcoins" saga became a meme to attack by particular Bitcoiners, avoiding the issue of confusion.

Coming into the space it can be confusing. With multiple coins with Bitcoin in the name, some with a cult-like following and all shilling different ideologies/technical narratives, it can be confusing. How is a newcomer meant to know who to believe and which Bitcoin is the real Bitcoin? The objective amongst us can understand that the narrative for each coin can be persuasive.

Some people prefer to go for the approach of letting the newcomers get rekt before finding out for themselves. However, I believe this hard-line approach can scare people out of the market altogether, and we should concentrate on educating these newcomers.

In this interview, I speak with Hotep Jesus about confusion entering the market, as well as the benefits of Bitcoin, altcoins, race and equality and free speech.

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Nov 05, 2019
Nick Szabo on Cypherpunks, Money and Bitcoin

Location: San Francisco
Date: Monday, 21st October
Project: n/a
Role: Blockchain, cryptocurrency, and smart contracts pioneer

On October 31st 2008, Satoshi Nakamoto emailed the cypherpunk mailing list, telling them "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party." In the 11 years that followed Bitcoin has proven to be the most successful attempt at creating a censorship-resistant and trust minimised digital currency.

Bitcoin was not the first attempt at creating a trust minimised currency, and there were several proposals, implementations and technologies which led to Bitcoin:

In the 1990's DigiCash, headed by David Chaum, attempted to make online payments anonymous.

In 1997 Adam Back created HashCash using a proof-of-work system to reduce email spam and prevent denial of service attacks.

In 1998 Wei Dai proposed B-money to allow for an "anonymous, distributed electronic cash system".

In 2004 Hal Finney built upon the idea of Hashcash and created Reusable Proofs of Work.

And in 2005 Nick Szabo proposed Bit Gold. Where unforgettable proof of work chains would share properties of gold: scarce, valuable and trust minimised but with the benefit of being easily transactable.

When Satoshi released the Bitcoin whitepaper, rather than a revolution, Bitcoin was an evolution of all that had come before it with Bitcoin being the most trust minimised, censorship-resistant and hardest currency that has ever existed.

Among Satoshi's email recipients was Nick Szabo, a computer scientist, cryptographer, the designer of Bit Gold and Smart Contracts pioneer. In a rare interview, Nick joins me to discuss the cypherpunk movement, what money is, privacy and of course, Bitcoin.

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Nov 01, 2019
Pierre Rochard on Bitcoin Adoption Hurdles

Location: New York
Date: Tuesday, 22nd October
Project: Kraken
Role: Bitcoin Evangelist

Despite the arguments that Bitcoin is the hardest money, it is the opportunity for new Bitcoiners to make a profit in their local fiat currency which is the primary driver of awareness and adoption.

Since the launch of Bitcoin over 10 years ago, there have been a number of bull markets which has seen a rapid rise in the price of Bitcoin leading to wider awareness. The volume during the most recent bull run in 2017 led to exchanges struggling to cope with the volume and some dropping offline. Such was the demand that Bittrex and Bitfinex had to close down new user registrations.

Making it easier for new Bitcoiners to acquire the asset has been a key driver of adoption. Good exchange and wallet UX, and education regarding key issues such as private key management not only support adoption but help new Bitcoiners avoid making silly mistakes.

The Bitcoin rabbit hole is deep and there are many new concepts which can be intimidating to new Bitcoiners which sometimes OGs take for granted. Transacting alone requires consideration for a type of transaction fee, unconfirmed transactions and the reality that mistakes can’t be reversed.

Having talked to Hotep and followed his journey into Bitcoin and the distraction with shitcoins, people told me to ignore him. I wanted to do the opposite as I wanted to learn about how someone new sees the space.

Kraken recognises that UX can be a hurdle for adoption, and are working on making it as simple as possible for new Bitcoiners to acquire and understand the asset. They recently hired Bitcoin OG Pierre Rochard to help with onboarding new users and Bitcoin adoption.

In this interview, Pierre and I discuss why they were the right fit for him, mass adoption, onboarding, Bitcoin financial services and the lightning network.

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Oct 29, 2019
Nik Bhatia on Why Bitcoin is a Response to Central Banks

Location: Los Angeles
Date: Friday, 18th October
Project: OpenNode & Tantra Labs
Role: Research Strategist

State adoption of Bitcoin is unclear but countries such as Iran, North Korea and Venezuela are believed to be holding and using Bitcoin. While these countries are in the minority, some believe it is just a matter of time before Bitcoin becomes a generally accepted state-level monetary tool.

State-level censorship resistance is useful for nations subject to tight sanctions. The unique properties of Bitcoin could make governmental ownership of Bitcoin a necessity in the future and increased accumulation by governments around the world may lead to the U.S Dollar being replaced by Bitcoin as the global reserve currency.

Further, the global economy is becoming increasingly uncertain, with negative interest rates and the Fed's growing intervention in the repo market standing as warning signs of an imminent global recession.

Could all these factors speed up the shift towards Bitcoin adoption?

In this interview, I talk to Nik Bhatia, Research Strategist at OpenNode and Tantra Labs. We discuss how banking works, the global economic outlook and why Bitcoin is a response to centralised and monopolistic money creation by central banks.

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Oct 25, 2019
Dan Tapiero on Why Bitcoin and Gold Are Both Important

Location: Skype
Date: Thursday, 17th October
Project: Gold Bullion International
Role: Co-Founder

Bitcoin’s design allows you holders to claim monetary sovereignty, taking money and power away from banks and the legacy financial system.

So, why do Bitcoiners seem so desperate to see the influx of institutional investors? A large injection of capital into the markets would likely see the price of Bitcoin go up, but, would it not be best to see organic growth in adoption by people, rather than corporations?

It is easier than ever for institutional investors to gain exposure to Bitcoin. With the recent launch of Bakkt futures contracts along with LedgerX and CME, there are ways for large traders to get skin in the game. But the volume is low, why?

Education is an often overlooked part of the Bitcoin onboarding process. No matter what background someone is from getting them to see past Bitcoin as 'magic internet money' can be incredibly challenging.

Dan Tapiero is a veteran Global Macro investor and a co-founder of Gold Bullion International. Having worked as a portfolio manager and analyst he became aware of Bitcoin in 2013, initially writing it off for having a too-small market cap and a "VC plaything". Dan's opinion has gone from not seeing the value in Bitcoin to believing it could take over as a financial system.

In this interview, Dan explains what changed his mind on Bitcoin, gold as a safe haven asset, Twitter, wealth redistribution, trade wars and Trump’s influence over the markets.

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Oct 22, 2019
Paul Puey on Time Preference

Location: Los Angeles
Date: Thursday, 26th September
Project: Edge
Role: CEO & Co-Founder

Time is arguably our most valuable resource and we are constantly making choices about how we use it. But do we give enough consideration to our time?

One of the theories behind our decision making is time preference. Time preference refers to the value of something now compared to its value at a later date.

Those who favour high time preference prefer to value their current self and spend money faster, while people with a low time preference will make sacrifices to ensure a better outcome for their future self.

It doesn't just relate to personal choices though; time preference is an excellent tool for considering money, specifically when comparing Bitcoin and fiat.

Inflationary fiat currencies favour a high time preference. With no supply cap and governments printing more money at will, there is little economic incentive to save. Bitcoin, however, favours a low time preference. Being sound money with a fixed supply, Bitcoin lends itself to saving.

While time preference finds its roots in economics, it can be applied to almost anything and is how you prioritise now vs future; from health to journalism, productivity to savings.

In this interview, I speak to Paul Puey, the CEO & Co-Founder at Edge who are building a self custody exchange and wallet. We discuss time preference, Bitcoin, health & diet, journalism and Libertarianism.

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Oct 18, 2019
Be Your Own Banker with Pascal Gauthier

Location: Skype
Date: Wednesday, 2nd October
Project: Ledger
Role: CEO

One of the earliest bits of advice a Bitcoin beginner will get will be to not keep their coins on an exchange.

By keeping coins on an exchange, hodlers expose themselves to counterparty risk and undermine many of Bitcoin's inherent benefits. When you invest in an asset that allows you to be self-sovereign and take trust away from 3rd parties, why immediately give that up?

While some exchanges, like Kraken, take their security incredibly seriously, the history of Bitcoin is littered with exchange hacks and the theft of coins. In just the last 12 months Binance, Bithumb and Cryptopia have all been hacked, with the latter closing down.

There are many ways to manage your private keys, and hardware wallets are one of the most secure and simple options. Ledger is one of the leading hardware wallet manufacturers and has recently celebrated its 5th birthday.

In this interview, I speak to Pascal Gauthier; CEO at Ledger. Ledger recently celebrated their 5th birthday, so I got Pascal on the show to discuss hardware wallets, being your own banker, competition and what's to come from Ledger.

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Oct 16, 2019
Bitcoin is Freedom with Russell Okung

Location: Los Angeles
Date: Sunday, 1st September
Project: Bitcoin Is_
Role: Founder

Bitcoin’s value lies not in its price but in its innate qualities and the freedom that those qualities offer. It is decentralised, trustless, secure and the hardest money ever to exist. It’s irreversible, scarce and accessible to everyone.

But many new to Bitcoin fail to understand these qualities. Usually, a first entry point is a fast-moving bull run where Bitcoin’s price is rapidly growing. Whether a newcomer makes gains or gets rekt, not all will stay, and those that do usually venture down the rabbit hole to learn more.

So how do you encourage mass adoption from people who might not understand the full capability of Bitcoin?

Russell Okung is an offensive tackle for the LA Chargers and he’s trying to do just that. In September he launched Bitcoin Is_, a conference in LA to help encourage mass adoption of Bitcoin.

This show is the fireside chat I hosted with Russell Okung at his event. We discuss what Bitcoin means to Russell, negotiating his own NFL contract, asking to be paid in Bitcoin and controlling your wealth.

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
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Oct 13, 2019
Matthew Mežinskis on Bitcoin as Base Money

Location: Skype
Date: Thursday, 3rd October
Project: Crypto Voices
Role: Host

The monetary base is the amount of currency in any one country. It is a combination of both the circulating supply and money held in reserve at the central bank. In the 1900s, the global base currency was gold; however, in 1971, the U.S severed all ties with the gold standard and the monetary base changed to being government-issued fiat currency.

In a government-issued fiat-based monetary system, the government controls the printing and inflation of its currency. This allows governments to increase the monetary base at will. Whereas previous base money, gold, was hard to inflate, with fiat money it is easy. This leads to, for example, the U.S global base money rising from $100 billion to $19.2 trillion since 1970.

With Bitcoin, however, issuance and supply are fixed. There will only ever be 21 million created, with the issuance dropping every four years and no ability to inflate the supply. Could this lead to Bitcoin becoming the next global base money?

In this interview, I talk to Matthew Mezinskis from CryptoVoices. Matthew explains what base money is and if Bitcoin will ever become the worlds base money. We also discuss what money is, the gold standard, central banks holding Bitcoin and decentralisation.

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If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following:

Become a Patron and get access to shows early or help contribute

Make a tip:
Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S
QR Codes: Bitcoin | Ethereum | Litecoin | Monero | ZCash | Ripplecoin
If you do send a tip then please email me so that I can say thank you

Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | TuneIn | RSS Feed

Leave a review on iTunes

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Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Oct 11, 2019
Defiance Launch Promo

Announcing the launch of my new show Defiance.

Defiance is dedicated to those who openly resist and boldly disobey authority. Focusing on Bitcoin, Human Rights, Censorship, Freedom, Drug Regulations and the rights of Sex Workers, I interview the brave and bold people fighting for freedom.

Defiance launches with three shows:
1. Why We Defy with Alex Gladstein
2.
Escaping North Korea with Thae Yong-ho
3.
Information Warfare with Molly Mckew

Find out more at defiance.news.

Follow Defiance on Twitter, Facebook and Instagram.

Oct 09, 2019
Eric Voskuil is the Most Rational Bitcoiner