E035: “Don’t Fight Nature”

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BTC Status Update as of 2/17/2017
Bitstamp $1054
Okcoin ¥7090
Localbitcoins vol (7d) $19.4 mil
Network vol (24h) $139 mil
Difficulty est. +3.5%
Segwit 24%

Sources: PricesLocalBitcoinsBlockchain VolumeDifficulty, SegWit


Trending Topics Price rollercoaster, segwit on Litecoin, COIN ETF 11 Mar

9:00 – Bitcoin Maximalist Roadmap

Economics of Decentralization
First, we argued against buttcoiners, Tim Swanson being a great example. They were the first skeptics of bitcoin and forced bitcoiners to really learn the economic arguments for decentralization. Some people have been left behind at this stage, instead of growing they are stuck on private blockchains (distributed databases).

Economics against Decentralization
Next, we examined the “decentralize all the things”, ethereum and blockchainers. The people that examined the arguments for decentralization of everything against the lessons learned from the buttcoiners came out believing more in the superiority and uniqueness of bitcoin. Some people have been left behind in this phase as well, becoming altcoin pumpers, currency competition, etc etc.

Apolitical Nature of Bitcoin
Now, we are emerging from the big block scaling debate. The arguments are getting settled on the side of smart scaling. Again the bitcoin understanding has been honed again, this time just how the decentralization of bitcoin actually works.

Some people are stuck on different steps of this understanding. We have people left behind everywhere. People are still believing in centralized blockchains, some are still believing in tokenization of physical goods, some are stuck on big block cognition.

20:00 – Erik Voorhees Blog

His Blog

Twitter Thread 

30:30 – Called it Here, Japan is Rising in Bitcoin

Multiple people are calling Japan now as being a future and growing market for bitcoin. I called it here last year that Japan could start running this whole bitcoin thing. So much positive news is coming out of Japan now, including multiple large banks investing in bitcoin exchanges.

44:00 Yellen Responds

We talked about the letter to Fed Chairwoman Janet Yellen from a US congressman, threatening the Fed to stop any foreign negotiations with banks, like at Basel. (Her response) This is a follow up, where Yellen testified in front of a Congressional Committee.

Yellen Testimony
Time: Comment
20:00: Neutral Rate another name for “natural interest rate” lol
22:00: Calls for fiscal spending, is she conceding that the Fed is not all powerful? Can the Fed not attain their objective by itself? If not, why the hell do we need them?
48:00: algorithmic interest rates, Taylor Rule, today 3-4%. Shows how much our economy is out of wack. 3-4% historically is low even, but our economy can’t handle that.
2:14:00: Productivity grow is slow. “No one knows”. Yes we DO!!! Get out of the way. What’s the Fed’s blame? “not our problem”

Productivity growth, productivity growth, mantra. Who cares about it? It’s happiness and pursuit of happiness. Money don’t measure everything. Things that get measured, bet managed.

Why I want Bitcoin to Die in a Fire


Patreon Companion Episode COMING VERY SOON!

I wanted to get this episode out ASAP, I’ll be finishing the companion episode today or tomorrow. Thanks.

 

Ansel Lindner Written by:

Ansel is a bitcoin specialist, economist, and podcast host.