Episode 14: Pierre Rochard And The Great Block Debate

Pierre Rochard And The Great Block Debate Part 2

In this Episode I am joined by Pierre Rochard, Host of the Noded Podcast and co-founder of the Nakamoto Institute, he has been a unstoppable proponent of Bitcoin and the Bitcoin Maximalist thesis, I am very happy to welcome him to the show today.

In today’s episode Pierre and I discuss:

  • How he discovered Bitcoin
  • History of the Scaling Debate
  • What influence the White Paper should have
  • Should the Block Size ever increase?
  • Bitcoin and the 3rd World
  • Lightning Network

NOTES:

If you have any comments or suggestions please do so via social media, which can see below or Click Here.

If you would like to support me please click here to find out how or just do your amazon shopping through this link. Costs you nothing, but helps keep the lights on and my coffee cup filled.


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Episode 13: Vin Armani and the Coming Hash Wars

Vin Armani And The Coming Hash Wars

In this Episode I am joined by Vin Armani, CTO of CoinText, Bitcoin evangelist, former host of the Vin Armani Show, Author of Self Ownership and serial entrepreneur.  Vin has been someone I’ve been following and listening to for a long time. 

In today’s episode Vin and I discuss:

  • The origins of Bitcoin Cash
  • How Prof. Wright and Nchain sought to buy out opposition
  • The Flaw in Nakamoto Consensus
  • Calvin/Craig are the smartest people in Bitcoin
  • Hash War is NOT relegated to BCH but to ALL POW coins and Beyond
  • The Philosophy of Bitcoin

NOTES:

If you have any comments or suggestions please do so via social media, which can see below or Click Here.

If you would like to support me please click here to find out how or just do your amazon shopping through this link. Costs you nothing, but helps keep the lights on and my coffee cup filled.


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Permaculture System Design: Part 2

Observe and Interact

Original Article can be found on Medium

In the first part of this series I laid out a very basic overview of permaculture, it’s history and it’s ethics and principles. It still very much had the feel of being mostly about agricultural system design, but as we move on to dive into the design principles I want to focus on it through the spectrum of society, personal life and Bitcoin.

Observation of the system you are occupying or a system you wish to enhance and change for the better is the most important first step.

Observation is NOT making snap judgement’s based on preconceived notions.

Observation is NOT assuming any output or input is good or bad.

Observation is as simple as it sounds. Observing.

In the realm of Agricultural design, say designing your own property, you will want to spend a lot of time observing all the areas and interactions of natural systems on that property. Within each system are small systems interacting with each other. You can view these systems in various sizes from the Uber macro size of the universe to the atomic in the micro; I say that as more of a mental exercise to think of large and small, not to actually worry about the subatomic level.

You will want to watch various portions of that property over different periods of time to see how differing weather effects it. A tree planted in an area that does well in the summer may die in the winter because it is in a low spot of the property and cold air sits there for longer, freezing the vegetation and roots. An area may do well for 3 years and thrive but the once every 5 year a flood comes in, waterlogs and suffocates the inputs you placed their.

Part of observation is to also consider what is the use of the system and what are the systems within trying to achieve. For agricultural design, are you trying to provide the maximum production you can for homesteading purposes or are you trying to let nature automate your property with an eye towards aesthetic beauty? How much time will you be able to devote to upkeep of this system?

If you are able to make that your full time job you can integrate more systems into it such as poultry, farm animals more needy but productive plants, etc. If you cannot devote much time to it, you will want to focus on designing a larger system around self sufficient smaller systems who need little external inputs to stay healthy.

It should start to be readily apparent how this principles can fit into your life, business, etc. Observe the systems you currently interact with; Nature, the nation state, society, your community, your family, yourself, your body, those organisms within your body, etc. etc.

If you have never taken that time to observe for long periods of time the systems you live in, do so starting today.

Do not approach these systems with your beliefs or biases. If you are a libertarian, don’t automatically assume that say the actions of a centralized nation state are inherently bad or unnecessary, on the converse if you have never doubted the need for bodies of government to codify laws and arbitrate disputes, don’t enter the observation assuming that’s a given needed service.

We can never truly eliminate bias or the natural inclination to discard that which conflicts with your worldview, but we can consciously be aware of it and attempt to eliminate as much as possible.

Observe for long periods of time how these systems interact with each other, with you, with nature, with everything. There is no right or wrong outcome, this is merely just viewing the world as it is.

In your business or your job, where you are competing with others for higher positions or to maintain your current position observe the actions of not just your competitors and/or consumers but also everyone else. It doesn’t matter if they meet your demographic for a customer or not. Begin to view how you want this system to work, not for you, but with you. You want to have a basic framework of the most ideal system design for your goals.

If you are trying to get a promotion, how can you change the interactions of the various systems within the larger system of your company or business climate so that your wanted outcome of promotion manifests itself as PART of the naturally ordered outcome.

I will as a side note completely agree that this sounds very…new agey, but it’s not. Its simply words to describe something. Whether it’s a field, an orchard or a company… they are systems, and they all have natural flows to them, and when something seeks to force an unnatural change the end result is not good.

We’ve all been in work environments where an outcome, say better moral or comraderie was for lack of a better term forced on a team or office. It never works. It feels wrong and unnatural and the best outcome is for a period of time people “fake it until you make it”… but it never makes it.

If however you observe the various systems in the company, i.e. hiring practices, corporate ethos, leadership style, compensation, etc. you will ever able to learn to interact with them. You find where you can insert inputs into those systems to change the outputs to match your goals. By finding a way to make your output goals be the natural end result of the system your chances or achieving it are far higher than attempting to swim against the natural current.

It will just…happen..naturally.

It’s the difference between making someone do something and making them think they came up with the idea themselves.

How does this pertain to Bitcoin and the new digital age?
Those of us looking at this new world of Bitcoin and Blockchain and the burgeoning immersive digital world do so, usually, to find where we fit in. How can we build a business, a reputation or a knowledge base in this space. We may see problems in our society that we wish to fix with Bitcoin.

Satoshi himself used this very same principle as he created Bitcoin(yes I know we don’t know who “he” is, but the pseudonym is a male Japanese name so I will continue to use the masculine pronouns until we learn otherwise).

Satoshi Observed:

  • Central Banks and Fiat money were immensely destructive in society
  • An alternative to this monopoly was needed
  • This would need to be sound (backed) money to avoid it becoming manipulated as Fiat is
  • Using alternative physical metal coins isn’t feasible as the government will crack down ( Google “Liberty Reserve”)
  • There have been attempts to make a digital money but they were unsuccessful
  • You must provide a mechanism for verification of transactions to prevent double spends

I can go on further, however you get the idea.

He had to observe the environment that the problem he was trying to solve lived in. He couldn’t create a solution that would only work in an idealized society, because we are not in an idealized society.

That is at the heart of the reason for the constant failure of socialism. It appeals to an idealized empathetic view of how the world should be, and it’s solutions are tailored to work in a world that will and could never be.

When you observe the environment that your problem and thus your solution must live in (albeit your solution may slowly change the environment and you MUST be ready for that as well) it is imperative to remain objective.

All observations must have as much weight as every other. If you tailor your observed evidence to fit a preferred solution you will fail. If you only look for things to observe that will lead you to your preferred solution it will fail. If the solution isn’t rooted in the full truth of observable reality it will always fail.

In the end truth is the most necessary component for any successful solution to a problem. After you have taken enough time and gathered enough objective evidence you then must begin to tailor a solution based on that evidence. Part of that process is to sandbox and work through reactions of the environment to your solutions.

Real world testing is preferred if possible since hypothetical’s played out in mental thought sessions can be useful, they can never truly replace real world interactions and the data you get from that.

In terms of the digital world and that of Bitcoin, this is why tools such as test nets are so valuable as you are able to work through SIMILAR circumstances with out the real world consequences of mistakes, bugs or unforeseen reactions in an Ecosystem.

There is no perfect amount of time to observe before you begin to execute your plan. While one should observe as long as necessary, paralysis by analysis is as detrimental to solving problems as a knee-jerk reaction can be.

Always take time to observe your surroundings in all places at all times. This may seem strange, since you are always aware of what you are doing and where you are, but awareness of a place, awareness of an experience is NOT the same as focusing on OBSERVING that environment, experience, etc.

“You see, but do not observe”

-Sir Arthur Conan Doyle

This was the second of a multi-part series on the Nexus of Permaculture, Bitcoin and the Coming digital age.

Permaculture System Design and Bitcoin: Part 1 Overview

Original article can be found on Medium

Permaculture is a method of systems design that is codified via a set of core tenants and principles of design.

I started studying Permaculture system design around the same time I became aware of Bitcoin back in 2012 and took a Permaculture design course in 2014. Permaculture was created by the late Bill Mollison alongside David Holmgren when they began to see the devastation that modern agriculture brought to once abundant arable lands.

Keyline Design

http://www.theconsciousfarmer.com

There is no such thing as “flat land”, all land has differing levels of elevation and grades across its entirety. In traditional farming rain would it the land crops were on, it would quickly wash from the high to the low points, and as the water gained speed it would wash away precious topsoil, minerals, fertilizers, etc. to the low points on the land and eventually be washed away into the streams, lakes and eventually into the oceans. North America is losing topsoil 10x faster than it can be replenished due to erosion and many of the DEADLY algae blooms along the coast are due to fertilizers runoff. This is energy and resources that are not being captured, but due to inefficient system design are lost and wasted.

Yeoman’s Keyline design in a very basic sense if to create water catchment systems in the form of ditches built on contour with the land and planted with vegetation that can hold the soil. The Energy/resource, the rain, is then caught in these catchment ditches, and slowly disperse through the land the areas below it. This also slows down the water and decreases erosion with any loss of soil being caught in the ditches as well. It is a perfectly efficient system.

Masanobu Fukuoka

https://www.azquotes.com/author/5223-Masanobu_Fukuoka

Masanobu Fukuoka was the son of a wealthy land owner and attended University and was trained as a microbiologist and agricultural scientist. He came to doubt the ideas of Western agricultural science and resigned from his job and went home to work the family farm. Be began to experiment with various practices on his organic citrus farm and developed a system of “natural farming”. His experiments were interrupted by government policies during WW2 and the forced redistribute of lands by occupying American forces in post war Japan and was left with only 3/8 of an acre of rice land and citrus orchards. He came up with numerous practices of non-intervention and working alongside/not against nature practices that heavily influence the permaculture mindset.

Permaculture

With these great men that came before them Bill and David began to form a radically new idea, that of both permanent culture for agriculture but also for sustainable human habitats. The human system melding with the system of nature. They wanted to find a way that they could live complimentary to nature vs. one of conflict with nature

Permaculture Ethics

  1. Earth Care
  2. People Car
  3. Return of Surplus

Earth care is about to create practices that allowed for the larger system, the Earth, to operate efficiently and healthy. Small systems within the larger system cannot flourish if the larger system is dying or broken.

People Care is creating systems that benefit humanity, creating more resources and access for their existence. This may start to sound very hippy dippy and semi-socialist, but I assure you that it’s not. I’m the farthest thing from being a supporter of those ideologies, so please bear with me, this will all come to make more sense later as we incorporate this into system designs at a larger level.

Return of Surplus is about self-regulation of intakes and using our wastes in a system in a positive way to be recycled into usefulness for the rest of the system. Some on the farther left of the movement have attempted to re-brand this ethic “fair share” but the attempt to hijack the principles of design to justify inefficient centrally planned authoritarian regimes flies in the face of the spirit of Permaculture itself. Socialism is fighting nature, it’s an attempt to bend the will of the world and the human spirit through the threat of violence. That is NOT Permaculture.

Design Principles

Alongside the ethics there are 12 is principles. I had previously tweeted a very basic take on each of these principles, and the point of this Permaculture series will be to expound in detail on each of these principles and how can be applied to Bitcoin and the coming fully immersive digital age.

  1. Observe and Interact
  2. Catch and store energy
  3. Obtain a yield
  4. Apply self-regulation
  5. Use and value renewable resources and services
  6. Produce no waste
  7. Design from patterns to details
  8. Integrate rather than segregate
  9. Use small and slow solutions
  10. Use and blue diversity
  11. Use edges and value the marginal
  12. Creatively use and respond to change

There are other concepts that we will get into later such as layers, guilds and zones within a system, but we will get to those later.

As we move forward in this series, I want you to keep your mind in the framework of systems design and how this applies to society and the Bitcoin system. How can you apply these lessons to those larger concepts but also apply them in your own life to better your ability to react to change, spot opportunity and create more efficient, less wasteful systems in your home, relationships, business, etc.

The next part in the series will be looking at the first principles of design, Observe and Interact.

THE FORK: A MECHANISM FOR FUTURE SOCIETAL CONFLICT RESOLUTION?

(ORIGINAL ARTICLE CAN BE FOUND ON MY MEDIUM)

Over the past year I have been thinking more and more of the concept of the “Fork” and its implications not just for Bitcoin but to society.

13 months ago (August 2017), the long-standing dispute over how to scale Bitcoin came to a head. Those who favored on chain scaling (increasing the block size) initiated a fork to split from the current BTC chain (those who favored smaller blocks and 2nd layer solutions). I know that Giacomo Zucco disagrees, highly, that this would be classified as a “fork”, but I don’t entirely agree with him on that.

*If you want to see his argument listen to Episode 9 of my podcast.

This disagreement had been festering for years, really since its inception when one of the first conversations Satoshi ever had was with Hal Finney where he pointed out the scaling issue immediately. The arguments were mostly academic for years, since there was no real impetus, yet at that time, to fix it since the problem wasn’t present in the real-world implementation of bitcoins daily operations.

Over time the debates became increasingly heated as both sides (and I recognize there are many different shades of grey) understood the blocks would soon start to fill beyond capacity and transactions would become backlogged with fees, obviously following the supply demand curve, increasing to drive down demand (a natural market force to decrease demand in a fee market).

Several meetings of large stakeholders in the Bitcoin community were held and an agreement was hashed out (no pun intended). That agreement was not followed through as a large portion of the community rose up to stop it.

To make a long story short, those favoring on chain scaling threatened to and eventually forked away from the main BTC chain, creating Bitcoin Cash/BCH.

From the outside this may seem like just a disagreement among a niche group of people, but it was much more than that.

 

There were all the same ingredients that one would find in the recipe for a bloody conflict.

  • · Extreme passion for a cause.
  • · Reverence for a prophetic type figure.
  • · Unshakeable confidence in correct interpretation of prophet’s intentions/wants.
  • · Tribalism and insular groupthink.
  • · Dehumanization of the opposing side using derogatory terms to generalize opposition as an “other”.

Throughout human history we have seen these sorts of scenarios play out. Often, especially when there’s a minority/majority component added one or both sides seek conflict resolution through whatever means necessary to accomplish their goals.

Often the majority seeks to use the existing power structure that they control to exercise their ability to “legalize” their solution and in turn make the opposition’s illegal.

 

The minority is then left with 3 options

  1. 1. Accept decision and attempt to sway more support to their side to give them the majority position.
  2. 2. Accept decision and give up.
  3. 3. Use extra-legal means to find resolution to the conflict.
  4. These extra-legal means are often violent ones, meant to break the will of the majority to accept the minorities political will in one or all decisions.

Historically in monarchies the Kings will was law, opposition nearly always took the form of violent revolution; whether it be assassination or gathering of armies for a revolt. There was no real steam valve that allowed opposition’s the ability seek resolutions in their favor.

In representative democracies (using this in a very loose general terms) the people have recourse to change the systems they live under whether through electing new Representatives, amending Constitutions or nullifying national law through principles of subsidiarity (if present in their political culture).

Even with this pressure valve it didn’t end, contrarily it seemed to increase the use of violence as a means of conflict resolution. The 20th century was an era of massive death and violence on a scale that had never been seen before.

The Future vs. Current Reality

In the near to near distant future the majority, if not all our lives will take place in the digital space vs the physical. The advent of TRUE VR platforms and spaces to experience a new reality will rapidly accelerate humanities slide into the digital. Science Fiction, while many times fanciful and unrealistic often contain grains of Truth that we recognize when we read/see. Ready Player One and other VR style dystopian future themes have more than that grain of Truth. How fast would humanity embrace the virtual over the physical when it can meet all the base instinct needs of the consumer? How quickly would you choose the virtual over the physical when the virtual at no cost (or a fraction of the cost compared to the physical world) can offer you the dream job, relationship, car, etc. you’ve always wanted?

To further digress, I want to quickly address the obvious criticism regarding the need for physical touch and physical proximity to others for the sake of mental health. Countless studies show that humans (and primates) need close physical touch for proper development and lack of human interaction in any stage of life can have DRASTIC negative effects on your mental health.

But what does physical touch/proximity mean? It’s merely your senses registering that other person and releasing chemicals in your brain as an incentivization to continue that behavior. It’s an evolutionary response that helped us coalesce into groups so that our individual survival chances would be higher than if we were on our own.

It all boils down to perception. If our brain TRULY believes we are near that person that touch, kiss or hug is real….

It’s real.

If the digital world can fool our brains, into believe what we see in the digital space is the same as the meat space, there’s no reason that those same boxes for endorphin/serotonin releases wouldn’t be checked inside the 4th Wall, ensuring the same level of mental health.

The Fork

So here is where forks can come in. Once our lives are based around this post 4th wall world we will inevitably become tribal, form cooperatives and groups, meet and coalesce with people of similar interests and beliefs. We already see and have seen that on the internet. These groups are most often not broken up by nationalities or geographic loyalty (albeit language can be artificial barrier). They form based on mutual interests.

The future “Nations” of the post 4th Wall world will not care as to the geographic location they dropped from their mother’s womb, they will care about those in their new home, the digital home.

This will NOT mean conflict disappears just because we can all drive digital Lamborghinis and have the bodies we wish for (and of course digitally scarce items like Bitcoin will appear to allow for status symbols to be presented) doesn’t mean conflict will end.

Human nature begets conflict as a matter of conflict resolution since it’s inherent to the human experience and a strong emotion. It’s a path of least resistance to escape the pain of whatever adverse reality someone is experiencing.

What if we could design and outlet where everybody wins. everybody gets what they want?

What if your group wanted to use this island, but another occupied it? What if you could fork that reality into another, a digital multiverse where every digital possibility that could exist did (or I should say many of them would). Where reality itself is forked and those new groups can live as they wish away from those they had come to have irreconcilable differences with?

It may very well be that after a day, week or month of conversation this idea is proved (perhaps within our own ability to conceive now) to be invalid. That’s fine, the purpose of this thought experiment is to think of solutions to tomorrow’s problems.

The digital world’s overtaking the consciousness timeshare of humanity is rapidly approaching. Most of us ALREADY spend a disproportionate amount of our waking hours immersed in the digital. It is a much smaller leap from now into total VR immersion than it was from 100 years ago to today.

Episode 12: The Triumph of Free Markets w/ Jeffrey Tucker

Jeffrey Tucker and the Triump of the Markets

In this Episode I am joined by Jeffrey Tucker a prolific speaker, writer and economist. He was the first real economist to take a serious look at Bitcoin and embrace it as a real money.  Jeffrey has traveled the world speaking about Bitcoin, Free Markets and the cause of liberty. I am honored to be speaking to him today

In today’s episode Jeffrey and I discuss:

  • Jeffrey’s journey from music to economics  and Bitcoin
  • The Austrian School of Economics
  • The Utility of Cryptocurrency
  • Ludwig Von Mises Regression Theorem of Money
  • Crypto-Utopianism, hope for the future and what Bitcoin offers us.

NOTES:

If you have any comments or suggestions please do so via social media, which can see below or Click Here.

If you would like to support me please click here to find out how or just do your amazon shopping through this link. Costs you nothing, but helps keep the lights on and my coffee cup filled.

         


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Does Mass Adoption Require Private Keys?

ORIGINAL ARTICLE APPEARED ON MEDIUM

I’ve been thinking about the custodial vs non-custodial question for cryptocurrency in terms of best outcomes vs. likely outcomes alot for the past few months.

If you’re not familiar with these terms, custodial wallets are like COINBASE, a third party holds the private keys to your wallet and you don’t have control of your coins. In short, that company holds your coins on your behalf and has total control over them.

A non custodial wallet is typified by the user holding the private keys to the wallet. This could be just you downloading the Bitcoin or other crypto client software and running it on your computer or something like the JAXX wallet, which while it is software from a company, you hold the private keys, JAXX can’t access or recover your funds.

In traditional finance, unless you hold the Cash or Gold on your person you are trusting your money to a 3rd party custodian. We all grew up (until we discovered Bitcoin) with this being the norm. Outside of small niche prepper/survivalist communities, no one, especially in the mid/late 2000’s carried much cash or owned physical gold. The majority if not ALL of our transactions, big and small were done via 3rd party custodians (e.g. Banks, Credit Cards, etc.). It’s important to note that this was not all because of convenience there is also a large element or NECESSARY in this system. You could choose to live out in the woods, hold all your own money, but if you wanted to buy anything that wasn’t located nearby, or pay your mortgage to a bank that wasn’t in the town you lived you HAD to interact with 3rd party custodians.

Bitcoin destroyed that model, it was no longer NECESSARY to trust 3rd party custodians. You COULD if you CHOSE to operate totally independent of that system. However, I have been thinking more and more about human nature and realistic expectations for how our Bitcoin based monetary system of the future will look like.

Bitcoin Purists would denounce this as heresy, but I don’t believe that we will (in our lifetimes) see adoption without custodial solutions. Humans inherently seek the path of least resistance in all things. We are relentless in seeking efficiencies and will, en masse, choose those with less friction when presented. Uber is a grand example of this.

Nobody liked riding in Cabs, they often smelled, the drivers apparently did not understand basic traffic law or the social niceties of driver etiquette, and quite often just talked on their phone the whole time you were in the cab (which is preferable to being roped into a political/conspiracy conversation).

All those negative things aside, it wasn’t those that led people to choose Uber over Taxi’s, although the ability to rate and the incentivization of higher quality experiences DOES HELP.

No.

What truly made Uber a game changer is that it saved time. It was more efficient. You can sit on your couch binge watching Netflix, press a button and have a car sent to you. You can still sit there watching your show until the car arrives and then you head down.

Uber doesn’t waste your time. No call, no talking, no walking outside to search for a ride. It makes it as simple as possible for Point B to arrive at your Point A.

There are numerous other examples such as Amazon, Butcher Box, etc. all finding success because they understand a VERY important aspect of the modern human experience. WE DONT WANT FRICTION IN OUR LIVES.

Like it or not but Non-Custodial wallets are FRICTION HEAVY. You have to download, set up, write down private key/recovery seeds, keep them in a safe, maybe split them into multiple parts in multiple safe deposit box so, engrave them on CryptoSteel, etc. etc. etc.

This is not simple, this is not easy and it’s not something you are going to get the vast majority of people in the world to do. The world is rapidly moving from more to less.

writing down phone numbers and memorizing them→ “Call Dean”

Passwords→ face unlock

Buy multiple ingredients based on recipe→Box with measured ingredients on your porch

If you’re moving in the simplified direction you win. If you’re moving the other direction… you will lose.

To me the important aspect of Bitcoin is that if you want to possess an exceptionally independent and secure form of money, you can. No one can stop you from running your own full node, securing your own private keys and operating totally outside the custodial wallet system. The current Fiat system does not allow you this, but Bitcoin does.

We will not see mass adoption of Bitcoin without 90%+ of those people using a UX/UI heavy custodial wallet solution(s). If you think it’s just a matter of education, you need to leave your tech enclave bubbles you live in and drive a few hours, go to the nearest supermarket and just watch people. If you interact with the average person you will see that these are not people who are going to run their own full node, use airgapped computers to set up paper wallets and have multiple storage locations for split sections of their private keys. It’s not happening, It’s not a matter of education; Its not even that most people COULDN’T, most people just don’t care enough to do so.

The point of this article isn’t too crap on purists or the public. It’s too bring a better understanding of how people work based on current trends and an understanding of human psychology. I would rather that everyone ran their own full node, secured their own private keys, had full control of their wealth and Independence from all systems that could cut them off from it. It would be better for the cause of Liberty in the world, but it’s not going to happen. As I mentioned already, an important and miraculous aspect of Bitcoin is that even if you don’t want it, You can at any moment take full control of your money. That is a monumental leap forward in the history of financial sovereignty.

Episode 11: Pamela Morgan J.D. on Crytpo Asset Inheritance Planning

Crypto Asset Inheritance Planning

In this Episode I am joined by Pamela Morgan who is an accredited and experienced attorney with extensive experience in private practice as well as working for the United States 6th Circuit Court.  She has written extensively on the law and blockchain as well as book on crypto asset inheritance planning, that is the subject of our conversation today.

In today’s episode Pamela and I discuss:

  • Her Bitcoin journey and why she has gone full time into blockchain.
  • Crypto-Utopianism, hope for the future and what Bitcoin offers us.
  • Wills and Inheritance Planning
  • What makes crypto assets unique
  • DONT LEAVE PRIVATE KEYS IN A WILL THEY VIEWABLE TO THE PUBLIC!
  • Why you should think about providing a name of a trusted person to assist family members in accessing crypto assets
  • Why you should walk your spouse through how to access Crypto assets wherever they are stored
  • Why Smart Contracts are not anywhere ready to be used for will and estate planning.
  • Why you need to start planning now.

NOTES:

This is a very important topic and one that I had started to look into independently before I talk to Pamela.  None of us want to think of our own mortality, but it does happen and there’s no time like today.  You DONT want to get hit by a bus tomorrow and in 20 years what is now millions of dollars in assets is STILL unavailable to your family because you never took the time to properly leave behind your private keys.

If you have any comments or suggestions please do so via social media, which can see below or Click Here.

If you would like to support me please click here to find out how or just do your amazon shopping through this link. Costs you nothing, but helps keep the lights on and my coffee cup filled.

 

 

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Episode 10: Caitlin Long on Wall Street and Bitcoin

Wall Street: Good or Bad for Bitcoin?

In this Episode I am joined by Cailtlin Long, a 22 year veteran of Wall Street who handled Morgan Stanley’s Pension Business Solutions before going full time blockchain in 2016.  She then became president of Symbiont a Enterprise Blockchain Company and most recently has been responsible for pushing pro-blockchain legislation in Wyoming and a contributor at Forbes Magazine.

In today’s episode Caitlin and I discuss:

  • Her journey from wall street to bitcoin
  • Her work in Wyoming to make it the most crypto-friendly state in the country
  • How use of power in Proof of Work mining operations is highly overblown
  • State of institutional finances readiness to handle bitcoin and digital assets
  • The bitcoin custody problem
  • Fiduciary responsibility and forks
  • How a fork COULD bankrupt wall street
  • Fractional reserve bitcoin?
  • BAKKT platform and what this means

NOTES:

I have an extremely limited knowledge on the inner workings of Wall Street.  I know tidbits from family members who were in that business and the reading I did too understand better how the 2008 financial crisis came to fruition.

Part of the reason I decided to do this podcast was to learn more about this space and the spaces that crypto touches, the edge effects.  Wall Street is one of those edge effects.  I am extremely honored to be able to have Caitlin on this show today, she has been someone I’ve followed for quite awhile and her depth of knowledge of how Crypto and Wall Street do, can and could interact is unmatched.

I hope you learn as much as I did, and please listen to the episode Trace Mayer and Caitlin did on the subject of Financialization for a more advanced and in-depth look at the topics we cover today.

 

If you have any comments or suggestions please do so via social media, which can see below or Click Here.

If you would like to support me please click here to find out how or just do your amazon shopping through this link. Costs you nothing, but helps keep the lights on and my coffee cup filled.

 

 

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Episode 9: The Great Block Debate Part 1 w/ Giacomo Zucco 

The Great Bitcoin Block Debate Part 1: Giacomo Zucco 

In this Episode I am joined by Giacomo Zucco, Director of BHB networks to begin our first of six parts in a series, outlining the Big/Small block debate that has split the Bitcoin community.

Today we talk about

  • Giacomo’s Bitcoin origin story
  • Small Blocks vs. Big Blocks
  • Bitcoin Attack Vectors
  • Political Philosophy behind Bitcoin
  • Why there are no real long term threats to Bitcoin

If you are new to the space you will probably be a bit confused as to what the difference between Bitcoin (BTC) and Bitcoin Cash (BCH). The reason these two coins exist simultaneously is the result of a long time disagreement with how to make the Bitcoin network handle larger volumes of transactions.

These two camps have generally divided on making blocks bigger to allow for more transactions per second with another camp that wants to keep blocks smaller and the network more secure while building another layer on top of bitcoin that will allow for massive, cheap transactions on that layer.

This is the first of a 6 part series highlighting 3 different voices from each side, each with a different perspective on WHY they believe their thesis and solution is the correct one.

Today I am joined by Giacomo Zucco, CEO of BHB Networks. Giacomo is a long time Bitcoin Advocate and passionate believer in Bitcoin as sound money and a store of value. This obviously puts him squarely in the small block/2nd layer solution to the scaling debate.

Giacomo was a gracious guest, giving up his own personal time and on top of that is a brilliant speaker and thought leader in this space. I thoroughly enjoyed talking to him and I know you will enjoy this episode immensely.

NOTES:

 

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