Bitcoin Dad Pod
Episode 63: Non-Consensual Financial Choking
12 Feb • 58m
Pretyflaco's fundraiser for Turkish earthquake relief (https://geyser.fund/project/earthquakereliefturkey)
The UK believes that 'Britcoin' (https://www.theguardian.com/business/2023/feb/06/britcoin-digital-currency-could-be-in-use-by-end-of-decade),a government digital curency, will be deployed this decade
Localbitcoins, a decentralized-ish peer to peer bitcoin exchange, is shuting down operations (https://localbitcoins.com/service_closure/)
Localbitcoins was mentioned in the bitzlato documents (https://www.forbes.com/sites/digital-assets/2023/02/09/localbitcoins-matching-exchange-cited-by-us-in-bizlato-case-to-close-after-10-years-of-operation)
Might be due to general pressure on many bitcoin businesses
Binance, the offshore crypto exchange controled by CZ, is cut off from the USD banking system (https://web3isgoinggreat.com/?id=binance-suspends-usd-bank-transfers)
This is a deathblow if they don't solve it quickly
Is this a coordinated effort to push bitcoin/crypto businesses (https://www.piratewires.com/p/crypto-choke-point) out of the banking system?
Monetary Policy, specifically quantitative tightening, doesn't take money out of the righ places (https://fedguy.com/come-hell-or-high-water/) in the economy
Telegram, the Russian billionare owned chat app, seems to be sharing user messages to the Kremlin (https://www.wired.com/story/the-kremlin-has-entered-the-chat/)
The Coldcard Q1 hardware wallet was announced and looks like a blackberry (https://twitter.com/COLDCARDwallet/status/1623698350481760259), so lets talk hardware wallets
Bitcoin Optech #237 covers 'storing data on the blockchain' (https://bitcoinops.org/en/newsletters/2023/02/08/), yes its about Ordinals
Remember to get in touch firstname.lastname@example.org or @bitcoindadpod (https://mobile.twitter.com/bitcoindadpod) on twitter
Consider joining the matrix channel (https://matrix.to/#/#bitcoin:jupiterbroadcasting.com) using a matrix client like element (https://element.io/get-started), details here (https://www.jupiterbroadcasting.com/community/matrix/)
Thoughts on stratum V2 and its relative progress towards becoming the standard for pools? The Luxor incident seems to have highlighted the need for this.
Stratum V2 (https://stratumprotocol.org/)
Thank you Boosters
If you get some value from this show, please consider sending a boost. Hearing from you means a lot to us!
Send a Boost via the Podcast Index web page. No Podcast app upgrade required.
Install Alby (https://getalby.com/)
Find the Bitcoin Dad Pod on the Podcast Index (https://podcastindex.org/podcast/5049889)
Boost right from the page!
Value for Value
Podcasting 2.0 to support an indepenent podcasting ecosystem (https://podcastindex.org/)
Recomended Podcasting2.0 apps:
Fountain (https://www.fountain.fm/) podcast app (Android)
Podverse (https://podverse.fm/) (Cross platform and self hostable)
Castamatic (https://apps.apple.com/us/app/castamatic-podcast-player/id966632553) (Apple)+ Podcasting 2.0 to support an indepenent podcasting ecosystem (https://podcastindex.org/)
Sponsors and Acknowledgements
Music by Lesfm from Pixabay
Self Hosted Show (https://selfhosted.show/) courtesy of Jupiter Broadcasting (https://www.jupiterbroadcasting.com/)
I am not a robosats hater! You said you prefer lightning because it's cheaper to get the sats home. That was exactly my question! Don't you still need an on chain transaction to get them in cold storage? Are you buffering lots of small buys in a lightning wallet and doing one big on chain transaction? I like lightning for boosting and payments, but I don't see it for long term storage. I for one like the dad only shows. At least I don't get accused of being a hater :p
What's the rationale for trying to raise the unemployment rate? Is this a weird USA thing or would that happen here in Aus as well? Must be a weird position to be the person trying to make more people jobless (unless it is a voluntary type of jobless).
Demand destruction. Unemployment rate higher = less people working. Less people working = less consumer spending. Less consumer spending = less demand. Less demand = lower prices. Lower prices = lower "inflation" according to whatever metric they're using at the time (traditionally has been CPI). It's pretty horrible when you think about it
this isn’t a US thing .. it’s a fiat / Keynesian thing. They even occasionally slip up and admit it. The best way I can explain is they are trying to throttle the economy so that growth slows down and inflation slows down.
I really enjoy chapters as well. Would be great if you could add images as well. I like having that extra visual element when you are talking about a person or graph as you do quite often 😁
Wow, Men your Knowledge and News went from Turkey to England to Banking to Money use in the World and to Crypto. It was and is all tied together..Crazy good Show …