Bitcoin & Markets

In this episode, I discuss two articles on bitcoin's game theory by Jeremy Garcia, which appeared first on Bitcoin Magazine. I take a critical stance on many parts of his analysis, but I think it is important that there is more discussion on this topic. I thank Jeremy for writing them. I discuss bitcoin's game theory, cooperative games, infinite vs finite games, changing the rules, and the game theory of nation-state adoption. Article 1: A Look at the Game Theory of Bitcoin Hypothesis link for my highlights and comments HERE Article 2: Bitcoin's Game Theory has Endless Possibilities My highlights and comments HERE Full show notes: https://bitcoinandmarkets.com/e237/

Part 2 this week is the rest of the news of the week, price analysis and Bitcoin mining news. Bitcoin is becoming a major player in the great game of international politics. I also get into the conflict in Ukraine a bit at the end. Follow along at https://bitcoinandmarkets.com/r179/ Episode post https://bitcoinandmarkets.com/e236b/

This is part 1 of this week's episodes. I'm not going to rehash all that has gone on in the last week, since it is so fast paced. I'm going to concentrate on some takeaways and lessons learned by bitcoin from this situation. Follow along with the Bitcoin Fundamentals Report at https://bitcoinandmarkets.com/r179/ Episode page https://bitcoinandmarkets.com/e236a/

This short episode is the third part of the series examining the current news of the day in the bitcoin mining industry. Intel has announced it will be making bitcoin ASIC computer chips, Lansing Michigan is trying to crush bitcoin mining in their city, and the mempool is rising meaning there is an increase in the demand to receive bitcoin. Report: https://bitcoinandmarkets.com/r178/ https://bitcoinandmarkets.com/e235c for more links.

Part 2 of this week's report all about the price. I talk about CPI not being a measure of money printing, but of prices and the explanation for 7% CPI due to supply chain issues. Next I introduce the Bitcoin Dormancy Flow. I thought this chart was interesting and will be looking into more in the future. Lastly, I welcome Bloomberg to the bitcoin prediction party, finally. They all of a sudden have what they think is a good model for price based on volatility, but a week later and it's already proving to be wrong.

In this episode I walk through four big news items for the week, starting with Russia saying they will regulate bitcoin not ban it. I then move onto the Bitfinex hackers and the recent news about Blackrock opening up bitcoin investing to their clients. I finish off by discussing Binance's newest investment in Forbes for $200M and the precedence that it might set for the entire bitcoin industry. Follow along with the Bitcoin Fundamentals Report at https://bitcoinandmarkets.com/r178/ This is part 1 of a series of episodes that will come out this week. Feedback is welcome.

This is a quick episode to address a question I received via Twitter DM from a reader of the weekly newsletter. He was wondering why I was labeling the market cycle timing as a 2-year cycle instead of the commonly understood 4-year cycle.

This is an early cut of the Evergrande podcast episode coming out next week on Fed Watch. I discuss the proper context in which to view Evergrande, and give details on what I see going on over there in China. Full notes: https://bitcoinandmarkets.com/e233

In this episode I read through some of the ECB's Annual Report and comment on the current state of the Euro, as well as their efforts to create a digital Euro. This is applicable to bitcoin because the ECB is a major incumbent in the current system, and is trying to launch a bitcoin competitor, which they call a Central Bank Digital Currency. In the first part of the podcast I detail some of the inconsistencies in their Main Findings. Namely, they claim the Euro's currency status has remained "broadly stable" through 2020. Yet, when we read their stats, nearly everything is declining and at a fairly rapid pace. This is very notable, especially since the Euro is already at "historic lows" of importance in the financial system. Next, I read through the entire CBDC section and comment thoroughly about what they are getting right and wrong. Unfortunately, they are getting most things wrongs, but they are doing better than, say, two years ago. The main issues I see are: 1) Means of payment is not a function of money. Paypal or Visa are not functions of the dollar. They are separate features. We can easily and plainly draw a line between Paypal and the dollar. We don't consider Paypal as part of the dollar. Therefore, means of payment is not a function of money, it is a function of financial infrastructure around money. 2) Features are not additive. Throughout their report, they claim adding feature X will result in Y, and adding feature A will result in B, as if these features are added in isolation without any second order effects or trade-offs. Indeed, they claim there is a positive feedback loop to adding more and more features. In fact, every feature has a trade-off and adds to the complexity of the whole. This dynamic is actually a negative feedback loop. 3) Interoperability and anonymity - central banks can only give lipservice to these two things. They cannot truly be interoperable, because that opens them up to monetary competition and gives sanction to speculative attacks. One thing legal tender laws do is to close down monetary competition. Anonymity as well is an obvious plus, so they consider it here, but it fact central planners cannot offer anonymity else they'd lose control. 4) Many of these things are already possible and don't need a special new solution by the central bank. In the real world, these solutions are squashed by regulation, not some technical limitation. There is a reason those regulations where put in place (whether you agree with it or not), and providing a new solution effectively routes around those inefficiencies that are part of the regulation process. The central banks would be undermining their very own regulations in other words if they solved for these things in a CBDC. 5) Interoperability, anonymity, censorship resistance, and being a bearer instrument are products of decentralization. A CBDC is by definition centralized around the central bank, so cannot provide these things. Links ECB 2021 Annual Report https://www.ecb.europa.eu/pub/ire/html/ecb.ire202106~a058f84c61.en.html Hypothesis link https://hyp.is/go?url=https%3A%2F%2Fwww.ecb.europa.eu%2Fpub%2Fire%2Fhtml%2Fecb.ire202106~a058f84c61.en.html&group=world Lagarde conviction https://www.nytimes.com/2016/12/19/business/lagarde-imf-verdict-france-questions.html A Get The Bitcoin Dictionary! Bitcoin jargon demystified. Over 180 Bitcoin terms, concepts, and idioms. http://bitcoindictionary.cc The Best Free Bitcoin Newsletter! Don't miss another issue. Subscribe to the Free tier! Subscribe to the Pod! iTunes | Stitcher | Google Pods | YouTube | Soundcloud | RSS The Show Needs Your Support Become a paid member! We're a small operation and producing quality content people find valuable. Check out our big list of ways to help the show Affiliates Chart Like A Pro With TRADINGVIEW The Best WordPress Theme I've Ever Used! GeneratePress Sign Up For Audible And Get 2 FREE Audio Books Have Feedback? Send it our way. **DISCLAIMER: This is not investment advice, do your own research.**

Hopefully this episode helps you understand the monetary system and some of the arguments for a future outlook that is deflationary. Questions were sent in by long time supporter Rob. They are below. We cover the first three in this Part 1 and then tackle the last two here in Part 2, along with a general discussion on CPI and asset price inflation. I finish by explaining why bitcoin doesn't need hyperinflation or even inflation to get adopted. In fact, it is better to that it will be a deflationary grind, because that preserves as much capital as possible in a transition. Check out Part 1 first. Jeff Booth talks about how we should have massive DEflation due to technology and productivity advances, yet we don't, why not? Is it possible to have both inflation and deflation in different types of goods and commodities, is that what is happening? With the fed expanding supply of reserves dramatically, why don't we see consumer inflation. Where do we look to measure it? How come there is no consensus on what is or is not inflation, and what is or is not likely to come in the next 12-18 months? Gold has a reputation of being a hedge of inflation, has that proven true or false over time? Bitcoin? A Get The Bitcoin Dictionary! Bitcoin jargon demystified. Over 180 Bitcoin terms, concepts, and idioms. http://bitcoindictionary.cc The Best Free Bitcoin Newsletter! Don't miss another issue. Subscribe to the Free tier! Subscribe to the Pod! iTunes | Stitcher | Google Pods | YouTube | Soundcloud | RSS The Show Needs Your Support Become a paid member! We're a small operation and producing quality content people find valuable. Check out our big list of ways to help the show Affiliates Chart Like A Pro With TRADINGVIEW The Best WordPress Theme I've Ever Used! GeneratePress Sign Up For Audible And Get 2 FREE Audio Books Have Feedback? Send it our way. **DISCLAIMER: This is not investment advice, do your own research.**

Hopefully this episode helps you understand the monetary system and some of the arguments for a future outlook that is deflationary. Questions were sent in by long time supporter Rob. They are below. We cover the first three in this Part 1 and then tackle the last two in Part 2, along with a general discussion on CPI and asset price inflation. I have Part 2 recorded, but have to edit it and upload it. So, you can expect that in a few days. Jeff Booth talks about how we should have massive DEflation due to technology and productivity advances, yet we don't, why not? Is it possible to have both inflation and deflation in different types of goods and commodities, is that what is happening? With the fed expanding supply of reserves dramatically, why don't we see consumer inflation. Where do we look to measure it? How come there is no consensus on what is or is not inflation, and what is or is not likely to come in the next 12-18 months? Gold has a reputation of being a hedge of inflation, has that proven true or false over time? Bitcoin? A Get The Bitcoin Dictionary! Bitcoin jargon demystified. Over 180 Bitcoin terms, concepts, and idioms. http://bitcoindictionary.cc The Best Free Bitcoin Newsletter! Don't miss another issue. Subscribe to the Free tier! Subscribe to the Pod! iTunes | Stitcher | Google Pods | YouTube | Soundcloud | RSS The Show Needs Your Support Become a paid member! We're a small operation and producing quality content people find valuable. Check out our big list of ways to help the show Affiliates Chart Like A Pro With TRADINGVIEW The Best WordPress Theme I've Ever Used! GeneratePress Sign Up For Audible And Get 2 FREE Audio Books Have Feedback? Send it our way. **DISCLAIMER: This is not investment advice, do your own research.**

Hopefully this episode helps you understand the criticisms of Ethereum's Ultra Sound Money (USM) thesis. In this episode I focus on answering the criticism present in the USM thesis from a bitcoin perspective. I start with introducing the listener to the idea of USM and economic engines. Then I dive into the ways to power the engine with issuance or fees, and some of the fallacies around that. Next, we look at Proof of Work (mining) versus Proof of Stake (what ethereum wants to go to). Lastly, is a quick discussion on EIP 1559, the proposal in Ethereum to burn transaction fees as a way to deflate supply. https://bitcoinandmarkets.com/e229

Full show notes: https://bitcoinandmarkets.com/e228 I listen to and react to an interview Pompliano did with "the most famous digital artist in the world," Beeple, who recent sold a JPG for $69 million. Then I go through what fungibility is and why it applies to bitcoin. Pomp and Beeple https://youtu.be/rT13eQOf6ho Fungibility of Bitcoin - BTCM Research blog

Full show notes and links: https://bitcoinandmarkets.com/e227 In this episode, I attempt to clear up why I think Lyn Alden is using a Triffin-style premise and my problem with the Triffin dilemma in general. I've noticed people using Triffin-style arguments even more in the past couple of weeks, and it is very important that we have the tools to evaluate if this is the proper framework from which to build an understanding of the financial system. I quote heavily from Lyn and the BIS in this episode, drilling down the essense of the problem with the premise of deficits being the basis for foreign reserves of the dollar. Short answer, they aren't. There's very little evidence that deficits matter to foreign reserves at all, or that they play more than a very small role. The single most important source of foreign reserves is the eurodollar market. If we clear our minds of the role of deficits, then what is the argument for the unsustainability of the USD system? Well, it boils down to the end of a gigantic global credit bubble enabled by the Pax Americana. Hope this helps clarify. Stay tuned for the next episode on NFTs and fungibility. It will be a satisfying episode. A Links The Fraying of the US Global Currency Reserve System - Lyn Alden Fraying with my highlights Why Trade Deficits Matter - Lyn Alden BIS Report - Triffin: Dilemma or Myth? BIS Report with my highlights

Website: https://bitcoinandmarkets.com/e226/ Hopefully this episode helps you understand the arguments people often make and if they hold water next time the invoke the Triffin Dilemma. My interest in the Triffin Dilemma started several months ago. Little did I know then that I was trying to debunk an ahistorical extension of the original Triffin argument. I initially came to this conclusion: The problem with using Triffin in an argument about a dollar collapse is 1) it's ahistorical and 2) there doesn't need to be a capital account deficit in the US and surpluses in other countries for them to acquire dollar reserves. In this episode, I try to provide you with a basic understanding of the original Triffin Dilemma from Robert Triffin in 1958, and of why the modern extensions of this famous prediction are poor facsimiles. I provide tons of useful links below as part of the show notes. Balance of Payments It all comes down to the Balance of Payments for a country which issues the global reserve currency. The two main parts of the BoP are the current account and the capital account (including the financial account which we don't talk about). These two halves of the BoP must balance. The current account consists main of a balance of trade. Is the country running a trade surplus or a trade deficit. Other factors are things like foreign aid which we don't have to consider because it's very small compared to the trade balance. The capital account consists of flow of assets and liabilities for the country as a whole. When a foreigner buys a US asset (or a dollar denominated asset) this is a positive input for the capital account. In the reverse, when a US person or entity buys an asset in a foreign country it is a negative input for the capital account. Remember, the current account must be offset by the capital account. Therefore, if the US has a trade deficit of say $500 billion, they must have a capital account surplus of $500 billion. Triffin and Trade Surpluses When Triffin was writing the original Triffin Dilemma, in the 50's and 60's, the US ran massive trade surpluses. This means the capital account was negative - the US was losing assets abroad, or more accurately gaining liabilities abroad. Triffin was concerned that when the dollar denominated value of foreign liabilities surpassed that of the US's gold stock which backed the dollar at the time, there would be a run on the gold stock by those foreigners. They would sell their dollar denominated assets and take delivery of the gold, portending the doom of the US dollar peg. Current Account and Fiscal Triffin The US dollar did end up going off the gold standard in 1971, but not for the reasons Triffin predicted. Despite being accidently right, this form of argument became very popular in economics. Today, we can see two main extensions to the Triffin Dilemma, "current account Triffin" which is exactly the opposite of the original theory, and "fiscal Triffin" which is about global demand for US debt to cause the US to run unsustainable fiscal deficits. The current account Triffin is the most used by inflationists to support their dollar bear views, and, well, it's totally false. It reverses cause and effect, and lacks a clear systemic risk. The fiscal Triffin is more sound, but it is also false. It fails to consider other forms of safe assets like Mortgage Backed Securities and other derivatives. These are inferior to US Treasuries, but they are still widely used in their place (with an associated premium surely). Fiscal Triffin also lacks a clear systemic risk to the financial system, so is unlike the original. Hope this helps. A Links Wikipedia entry for Triffin Dilemma BIS Report - Triffin: Dilemma or Myth? BIS Report with my highlights via Hypothesis Understanding Capital And Financial Accounts In The Balance Of Payments - Investopedia FRED - Financial Accounts of the United States Khan Academy - Balance of payments: Capital account

Full show notes with images and links at https://bitcoinandmarkets.com/e225 At first glance, the Chinese miracle has survived the virus recession and returned to growth. There is no lack of articles proclaiming the inevitable dominance of the communists, sitting atop the list of largest economies in the world. An idea that a rising CCP will want to stretch its new found legs and exercise influence over international trade and diplomacy, and that will bring them into direct conflict with the declining power, the US. This idea was titled the Thucydides Trap by Graham Allison in 2012. Since then it has been a widely used and debated point. While it makes sense that the West is stuck in a debt trap cycle making them destined to stagnation (unless bitcoin), it does not follow in the least that the CCP will continue to rise. The pattern we have seen in China over the last 20 years, is nearly identical to the pattern we saw in Japan from 1970-1990. In this episode I read the original work by Graham Allison and then a great article debunking this work of ahistorical fiction. Hopefully it helps you next time you hear someone using the Thucydides Trap idea to support a decline of the West.

In this episode I listen and react to Doug French's recent Mises article Central Banks Put Wind at Bitcoin's Back. It's a short but wide ranging discussion touching on the current bitcoin rally, market manipulation, money, and central bank caused inflation. Suffice it to say, this article has a misplaced bias saying bitcoin's rally is "FOMO", "misallocation", and "human error". Austrians are missing a huge opportunity to champion bitcoin as free market money and become the most influence school of economics. They need to update their inflationist dogma. More show notes: bitcoinandmarkets.com/e224 Source: https://mises.org/library/central-banks-put-wind-bitcoins-back

In this episode, I read through a blog post from ECB President Lagarde about central bank digital currencies. I tackle the strengths and weaknesses of her claims and draw conclusions about their plans, in particular the ECB. Website: https://bitcoinandmarkets.com/e223 The future of money – innovating while retaining trust https://www.ecb.europa.eu/press/inter/date/2020/html/ecb.in201130~ce64cb35a3.en.html

In this episode, I react to a Simon Dixon interview where he spells out his thinking on the future of Central Bank Digital Currencies (CBDCs) and bitcoin. I respect Simon but couldn't disagree more with his CBDC prediction. We do however agree on bitcoin. Original Video: https://youtu.be/M7XtpvPUqls Website: https://bitcoinandmarkets.com/e222

In this episode, I listen and react to Michael Saylor's appearance on Hedgeye. Their conversation is pretty straightforward. Michael is a buy and hold guy and is trying to convince a trader of the benefits of picking and sticking to an exponential investment versus trading in and out of a position for a few percentage point gain. Show notes: https://bitcoinandmarkets.com/e221 Follow: @AnselLindner and @btcmrkts Blog: BTCM Research https://btcm.co

Today, I listen along with you to Raoul Pal's recent video The Bitcoin Life Raft and react to it. He is a macro forecaster and concentrates on bitcoin and Central Bank Digital Currencies. I disagree to many nuanced points and I think it is a great learning experience for the audience to step through these ideas together. \n Swift\n Eurodollar funding\n Getting money to those who need it\n"}]],"markups":[["a",["href","https://youtu.be/qL2LfVRl3J0?t=315"]]],"sections":[[1,"p",[[0,[],0,"Original video: "],[0,[0],1,"https://youtu.be/qL2LfVRl3J0?t=315"]]],[1,"h3",[[0,[],0,"5:15 - Introducing the problems faced by the USD system. "]]],[1,"p",[[0,[],0,"I agree there"> Original video: https://youtu.be/qL2LfVRl3J0?t=315 Full show notes: https://bitcoinandmarkets.com/e220/ 5:15 - Introducing the problems faced by the USD system I agree there's problems, but not the things he lays out. I believe his arguments show he has not considered monetary convergence and has a relatively mainstream understanding of the current system. 9:50 - CBDC Raoul claims the CBDCs are a way to address the problems he has laid out. Again, I disagree that the problems are what he says, and I also disagree that CBDCs can do what he thinks. The three big problems he lays out: 16:25 - Cash, freedom, and an agreement of nations (Bretton Woods 2.0) 23:15 END

In this episode, I voice my support for Peter Schiff against the baseless allegations currently being leveled at him. Then I dig into a slightly older tweet from earlier this year, where Peter talks about gold and scarcity. I take it piece by piece and discuss all the economic ideas behind why he is wrong. Website: https://bitcoinandmarkets.com/membership/ Twitter: https://twitter.com/btcmrkts https://twitter.com/ansellindner Links Peter's response video https://youtu.be/euabgDdLToA Old tweet about scarcity https://twitter.com/PeterSchiff/status/1294735621035089926?s=20

In this episode we walk through a discussion of money supply, Fed policy, and velocity, to find out if inflation is coming to the dollar. This is an important concept for bitcoin because many people believe bitcoin's fate is tied to a weak dollar, which it is not. Website: https://bitcoinandmarkets.com/e218 Twitter: https://twitter.com/btcmrkts https://twitter.com/ansellindner Links M0: https://fred.stlouisfed.org/series/BOGMBASE M1: https://fred.stlouisfed.org/series/M1 M2: https://fred.stlouisfed.org/series/M2 GDP: https://www.investopedia.com/terms/g/gdp.asp

The beloved bitcoin podcast is back with a reaction and hot takes on a recent interview between Danielle DiMartino Booth and Bitcoin Magazine's show Fed Watch. The show starts with an update on this podcast's current and future direction, then we listen to the recent interview, and finally react to it.

In this episode, I read through the new Europol EC3 Cyber Bits April and May issues where they talk about Wasabi wallet and bitcoin mixing in general. Full show notes at https://bitcoinandmarkets.com/e216 My copy: https://bitcoinandmarkets.com/wp-content/uploads/2020/06/Europol-Wasabi-Wallet-Report.pdf Original: https://www.tbstat.com/wp/uploads/2020/06/Europol-Wasabi-Wallet-Report.pdf Next part is on why you should Delete Coinbase. They are trying to sell your data to the DEA and the IRS. Story: http://archive.vn/40K7t Janine thread on Neutrino and now Coinbase's crimes against human rights. Coinbase owns the technology from https://twitter.com/J9Roem/status/1100876184999596054?s=20

In this episode, I base a discussion about bitcoin and ethereum inflation around a tweet from Ryan Sean Adams, a popular etherean. I touch on the bitcoin halving, the fact that bitcoin's supply is not changing, and how ethereum wants to copy bitcoin and make unwarranted comparisons. Tweet: https://twitter.com/RyanSAdams/status/1259877725550055431?s=20 Full show notes at https://bitcoinandmarkets.com/e215

In this episode I walk through an understanding of Liquidity and how the actions of the Federal Reserve can't increase liquidity and flow in the economy. I also give a quick definition of the REPO market and interpret it as a money substitute factory - a place that creates and destroys money substitutes. This is the consensus layer of the global financial system and how we need to define what money is. It's money substitutes that flow through the REPO and money markets. Mises on money​ substitutes https://wiki.mises.org/wiki/Money_substitutes Jeff Snider https://www.youtube.com/watch?v=OM_J-4fJYEk ​Excellent REPO market resource ​https://www.icmagroup.org/Regulatory-Policy-and-Market-Practice/repo-and-collateral-markets/icma-ercc-publications/frequently-asked-questions-on-repo/4-how-big-is-the-repo-market/ ​Highlighted Fed paper on Discount Window Stigma and how they try to address it https://hyp.is/go?url=https%3A%2F%2Fwww.federalreserve.gov%2Feconres%2Fnotes%2Ffeds-notes%2Fstigma-and-the-discount-window-20171219.htm&group=__world__

In Part 3, I answer some critiques and questions from the audience. The discussion on liquidity and Repo, the base layer of the Eurodollar system is now moved to Part 4 coming up soon. Questions from Epistemicrisis, Xan, CryptoGamer and Colin Harper. WTF is happening with the Fed?! - Is this inflation w/ Ansel Lindner - WTF 5 https://podcasts.apple.com/lu/podcast/wtf-is-happening-fed-is-this-inflation-w-ansel-lindner/id1459884105?i=1000472534928 Website: https://bitcoinandmarkets.com/e213

In this episode I tackle different types of money, debt, fiat and commodity monies. I discuss how they behave differently as a global money standard. Debt has a unique aspect of global deflation that's not shared with other forms of money. I discuss bailouts at money replacement, not money expansion. Finally, I wrap up with how this all ends.

In part one of this series I describe two important schools of thought on the global monetary system and the future of the dollar: the Dollar Milkshake and the Eurodollar. Then I try to establish a definition for inflation as a monetary phenomenon based on mainstream Milton Friedman, Mises and my own defintition. Lastly, I ask the question if what we think of as monetary expansion today, is actually monetary expansion. In part two, I'll discuss the differences I see between debt based money, fiat and commodity money. Website: https://bitcoinandmarkets.com/e211 Brent Johnson Dollar Milkshake: https://www.youtube.com/watch?v=2qTOWuL7Zco Jeff Snider Eurodollar University: https://alhambrapartners.com/commentaryanalysis/ Milton Friedman: https://hyp.is/noW7qIMXEeqhrfee8b0bew/en.wikiquote.org/wiki/Milton_Friedman Mises: https://hyp.is/GEy2cIKmEeq7Nh9KeQH1ug/mises.org/library/economic-freedom-and-interventionism/html/p/123

Hi Bitcoiners, I'm reading through my Friday newsletter The Fundamentals Report along with my extra commentary. Topics covered are the virus and effects of lock downs and shortages in gold and the dollar. I also talk about how bitcoin fits into this market. Show notes post: https://bitcoinandmarkets.com/e210/ Report: https://bitcoinandmarkets.com/r83/

In this episode I discuss the bullish case for bitcoin being driven by QE but not via a weaker dollar. The dollar will continue to strengthen in a volatile way. Bitcoin will be bid because the traditional market will get worse and worse at price discovery and bitcoin will get better and better. I bring in two articles. The first one is about China's consumer credit bubble popping and the second is about primary dealers in Japan refusing to sell their JGB's to the Bank of Japan. That effectively stops QE as a weapon of the central bank. The primary dealers would rather use their JGB's in dollar swaps with the Fed. China consumer credit: https://www.zerohedge.com/economics/scope-pain-immense-chinas-consumer-default-tsunami-has-started Japanese bonds: http://archive.vn/ao4qM Website: https://bitcoinandmarkets.com/e209

In this episode I use a tweet by Pierre Rochard and a video from Daniel Hannan as a jumping off point to talk about globalization, the growing distrust in our institutions, non-monetary rewards, and what this current crisis will lead to. Links: Pierre's tweet: https://twitter.com/pierre_rochard/status/1242103963287203840 "If everyone added to their cash balances during the good times, they wouldn't need to beg politicians and central bankers for bailouts during the bad times. But inflation penalizes cash balances. This is why we #Bitcoin." Daniel Hannan video: https://www.youtube.com/watch?v=94lW6Y4tBXs Website: https://bitcoinandmarkets.com/e208

In this episode, I break the news that the Fed has cut interest rates to zero and launched QE 5. The Fed is not in charge of interest rates, they follow the market. Interest rates were already close to zero in the market, so this move by the Fed was reactionary. They have lost control. I also talk about currency swaps and how to position yourself for the coming financial reset. Image link: https://bitcoinandmarkets.com/wp-content/uploads/2020/03/ust-vs-fed-funds.png News article: http://archive.vn/H92Ea Transcript of rate cut: https://www.federalreserve.gov/newsevents/pressreleases/monetary20200315a.htm Highlighted transcript of rate cut: https://hyp.is/go?url=https%3A%2F%2Fwww.federalreserve.gov%2Fnewsevents%2Fpressreleases%2Fmonetary20200315a.htm&group=__world__ Transcript of liquidity announcement: https://www.federalreserve.gov/newsevents/pressreleases/monetary20200315c.htm

In this episode I discuss ideas around the misunderstood concept of 51% attacks in mining, drawing inspiration from a tweet by @SGBarbour. Tweet: https://twitter.com/SGBarbour/status/1231344795991175168 Website: https://bitcoinandmarkets.com/e205

In this episode we discuss the historic times we are living in, focusing on the evolving situation and effects on the markets of the coronavirus. I touch on the stock market, bonds, yield curve, prepping, what you should expect to develop over the next few months. We also speak briefly on the bitcoin price, why it's falling, and what we can expect over the next few weeks going into the halving. https://bitcoinandmarkets.com/e204 https://patreon.com/bitcoinandmarkets/

On this episode I walk through a very deep tweet that will help us understand multiple assets on one chain. These I call these non-native assets and they have non-native incentives. I bring in many connected ideas and try to make sense of it all. @BobMcElrath tweet: https://twitter.com/BobMcElrath/status/1231633707406151681

In this episode I talk about the recent proposal to offer a "safe harbor" to ICO scams for 3 years. This proposal was put forth by Hester Pierce, a previously bitcoin friendly Commissioner at the SEC. I question the intentions behind this proposal and the totality of the SEC's actions in the space. Article link: http://archive.ph/8bq9n

This is a quick discussion on how the coronavirus is affecting bitcoin mining in China and the price. I give you an update on the virus and then read a couple articles, and finally discuss the economics of supply and demand in the shadow of the third halving. Articles mentioned are: Decrypt https://decrypt.co/18609/coronavirus-shuts-down-chinese-bitcoin-mine Coindesk: http://archive.ph/23BUf

Hello Bitcoiners! I'm back with a short discussion of the Tron vs ETH2.0 debate. Is Tron better or the always delayed ethereum centralized ethereans? I give you a quick rundown of the situation and a based assessment. Bitcoin is King, Eth is a scam, Tron is a scam. We are seeing the beginnings of the scam coin conflict. Website: https://bitcoinandmarkets.com/e200 Article: https://cryptoslate.com/why-are-some-of-twitters-biggest-bitcoin-maximalists-shilling-tron/ NVK's tweet: https://twitter.com/nvk/status/1225980826325790720?s=20

I go through as article from Coindesk that is very misleading about ETH2.0. Don't believe the hype. This is only phase zero they are trying to launch this year. Phase zero does nothing to immediate scale ethereum, it's only a preliminary step in an overly complex 5 year plan for ETH2.0. Website: https://bitcoinandmarkets.com/e199 Article link: http://archive.ph/jCyKw Annotated article: https://hyp.is/go?url=http%3A%2F%2Farchive.ph%2FjCyKw&group=__world__ Parity client DAO: https://decrypt.co/14857/parity-steps-back-from-ethereum-moving-client-codebase-to-dao https://ethernodes.org/ Phase 0 details: https://docs.ethhub.io/ethereum-roadmap/ethereum-2.0/eth-2.0-phases/ Marty's thread: https://twitter.com/MartyBent/status/896775534658686979

In this episode I go through Federal Reserve Governor Brainard's recent speech on Central Bank Digital Currencies (CBDCs). I cover all aspects but focus on money versus means of payment, free market value versus central planner force / central banker legal tender laws. Link: https://www.federalreserve.gov/newsevents/speech/brainard20200205a.htm

In this episode I discuss the bitcoin price in and where it's going. Bitcoin is in the big leagues and part of every important panel discussions and on the lips of every powerful financial person in the world today. Next, I talk about the upcoming bitcoin upgrade called Taproot. Show notes: https://bitcoinandmarkets.com/e197 Links: Taproot Taproot explanation

In this episode I discuss recent price movements and how they corresponded to the tense Iranian over the last week. I look into recent developments of State-sponsored stablecoins and detail the Baidu beta launch. Then I dive into the drama behind Nakamoto,com. Altcoiners using the term "pro-bitcoin" in a desperate attempt to extent their ponzi schemes. Lastly, I quickly talk about the halvening not being priced in. Links: https://bitcoinandmarkets.com/e196 Baidu network https://xchain.baidu.com/ New York Ledger https://decrypt.co/16155/new-yorks-lawmakers-are-pushing-for-its-own-cryptocurrency Nakamoto,com is a propaganda site https://twitter.com/Karalhoin/status/1213515397477150721 Veblen good https://en.wikipedia.org/wiki/Veblen_good Efficient Market Hypothesis https://en.wikipedia.org/wiki/Efficient-market_hypothesis 99% of altcoin volume is fake https://medium.com/swlh/how-to-better-estimate-bitcoins-true-trading-volume-by-fiat-currencies-and-against-altcoins-41623ddc9827

Discussion about the coming year and more for Bitcoin and this ecosystem. Topics include: The Halving Mining Tons on Lightning Altcoins Central Bank Digital Currencies Part 2 with discussion about the dollar and China can be found on my https://Patreon.com/bitcoinandmarkets

PRICE had 3 phases this year, 1) consolidation, 2) huge rally, 3) mini bear market FEES were very low all year, blocks full LIGHTNING First full year of mainnet wallets >3x growth Lightning Torch Watchtowers added to Lightning Loop in added to lightning Multi-part Payments added to lighting Hodlonaut Lightning bugs PLUG-N-PLAY NODES The rise of the plug and play node PRIVACY debates, privacy was enhanced in 2019 MISC QuadrigaCX Twitter and Square, Jack Dorsey #DeleteCoinbase Binance hack Tether and bitfinex CSW faketoshi sues everyone and gets owned in court Liquid tokens Plus token China block chain FUTURES Bakkt ErisX Binance/FTX Crypto Facilities/Kraken BitMEX seychelles CUSTODY Fidelity Coinbase/Xapo Bitgo/Kingdom Trust Swiss bank Vontobel GOV CRACKDOWN FINCEN threatens KYC IRS and other tax agencies start asking direct questions FBI says Bitcoin is a growing issue for them LIBRA and STABLECOINS CBDCs REPO market and the Fed

We are seeing the slow motion collapse of Ethereum in front of our eyes. I debrief the Adam Back comparison of Ethereum to Theranos and Vitalik's toxic reply to me of "ok bitcoiner". Short but dense episode. Show notes: https://bitcoinandmarkets.com/e193 Vitalik tweet https://twitter.com/VitalikButerin/status/1199820134275145728

Dense episode today. We talk about the recent bitcoin price drop and how or if China had anything to do with it. China has come out with massive support for "blockchain" yet they are cracking down on cryptocurrency exchanges. Are we in crazytown or are they serious? We've seen this before. The Central Bank Digital Currency (CBDC) is just the latest incarnation of altcoins, but this time, because they are feeling the heat. https://bitcoinandmarkets.com/e192

In this episode, I skip the price talk for the most part and talk about some news items. I take a deeper dive into Lightning Network for Bitcoin and the hot new app for private chat called Whatsat. Then go after Bianco the Chief of FinCEN and his comments quoted in Reuters. Lastly, I discect OMFIF-IBM's report on DLT. Don't want to miss it! https://bitcoinandmarkets.com/e191 Links: Whatsat https://www.bitcoinlightning.com/whatsat-send-private-messages-via-the-lightning-network/ IBM OMFIF report https://bitcoinist.com/ibm-central-bank-issued-cryptocurrency-five-years/ FinCEN chief thug https://www.reuters.com/article/us-crypto-currencies-fincen/u-s-to-strictly-enforce-anti-money-laundering-rules-in-cryptocurrencies-fincen-chief-idUSKBN1XP1YR

In this episode I go over the bitcoin price movements over the last week and hit on the big news items of the week. The first news item is the China's complete U-turn into blockchain. Next I discuss the doxxing of customers by Bitmex, Coinbase's unscheduled downtime and the wide fluctuations caused in the market. Lastly, I discuss why we are seeing a pull back in the bitcoin mining hash rate. Links in show notes: https://bitcoinandmarkets.com/e190