Bitcoin Dad Pod

Pre-Show CSW is bombing his cross-examination (https://blog.bitmex.com/copa-vs-csw-day-2-thoughts/) in the COPA case, trying to explain the miraculous circumstances that created the hundreds of a News FTX customers are being paid back in full (https://www.msn.com/en-us/money/companies/ftx-may-be-able-to-repay-all-crypto-customers-and-creditors/ar-BB1hRXKx)! ...at the bitcoin price of $16k Citrea claims to be a prototype zero knowledge Etherium Virtual Machine (zk-EVM) built on bitcoin (https://www.nobsbitcoin.com/introducing-citrea/) but its not working and might never work (https://stacker.news/items/415012?ref=nobsbitcoin.com) Seth is exited about Citrea (https://twitter.com/sethforprivacy/status/1754908226645025064) Economics Chinese stock market drops prompt sudden replacement (https://archive.ph/EzGbf) of a chief regulator, further attempts at bank stimulus (https://tradingeconomics.com/china/central-bank-balance-sheet#:~:text=Central%20Bank%20Balance%20Sheet%20in%20China%20averaged%20241632.09%20CNY%20Hundred,source%3A%20People's%20Bank%20of%20China) MacroEdge on X: "Nvidia’s now worth as much as the entire Chinese stock market" / X (https://twitter.com/MacroEdgeRes/status/1755978530469331220) OpenAI founder Sam Altman is 'seeking $7 trillion investment' - ReadWrite (https://readwrite.com/sam-altman-is-seeking-7-trillion-investment/) But it won't work because China has been battling monetary contraction since 2014 (https://fred.stlouisfed.org/series/TRESEGCNM052N) This forecasts US Fed stimulus in the near to medium future Canada seems jealous of the US' attempt to politicize energy policy (https://twitter.com/Dennis_Porter_/status/1754334381844369436) with a bill that makes promotion of fossil fuels (https://www.parl.ca/DocumentViewer/en/44-1/bill/C-372/first-reading) a crime Privacy Nitter, our favorite private twitter viewing frontend, is dead (https://nobsbitcoin.com/nitter-is-shutting-down-following-x-changes-to-guest-accounts/) Chris on Nostr (https://chrislas.com) Altcoins Crypto is preparing for a bull run with Arthur pumping a new altcoin airdrop model (https://blog.bitmex.com/points-guard/) that's less similar to an IPO and likely informed by the Ripple win against the SEC (https://www.reuters.com/legal/legalindustry/ripple-effects-developments-following-groundbreaking-decision-sec-v-ripple-labs-2023-12-05/) Bitcoin Education What are rollups? Glad you asked.. (https://bitcoinrollups.org/) Originally described by Goldwasser, Micali, and Rackoff in their 1985 paper "The Knowledge Complexity Of Interactive Proof Systems", zk proofs are a type of cryptographic proof defined as "those proofs that contain no additional knowledge other than the correctness of the proposition in question". Greg Maxwell, who wrote about "zero knowledge contingent payments" in the Bitcoin Wiki in 2011. Maxwell later worked with Sean Bowe, Pieter Wuille, and Madars Virza to implement the protocol in 2016.34 In May 2013, Miers et al published the Zerocoin paper, showing how zk proofs could be integrated directly into the bitcoin protocol to hide the addresses involved in a bitcoin transaction Feedback Remember to get in touch bitcoindadpod@protonmail.com 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/) 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! Send a re-ocurring or one-off lightning boost to the show with no message at bdadpod@getalby.com or directly to Chris at chrislas@getalby.com...

Pre-Show Harvard report on housing in the USA (https://www.jchs.harvard.edu/sites/default/files/reports/files/Harvard_JCHS_Americas_Rental_Housing_2024.pdf) makes the obvious conclusion that homelessness is all about prices, wages are stagnant or falling while housing is getting more expensive due to both constrained supply and the use of real estate as an investment vehicle Dashboard | Truflation (https://truflation.com/dashboard) Gavin Newsom Witnesses Shoplifting (https://www.youtube.com/shorts/PxjySys6qM0) SNL - Debanking Weekend Update (https://www.youtube.com/watch?v=QLt6xK33mUc) News While the U.S. Whitehouse pushes for a new edict to register all bitcoin mining (https://tftc.io/eia-bitcoin-mining-survey/) in the USA, including GPS coordinates of miners, power demand from AI companies is keeping coal burning powerplants operation (https://archive.ph/spRaU) past their intended EOL Economics Arthur Hayes' thinks that Bitcoin will go down and then up (https://blog.bitmex.com/yellen-or-talkin/) ... no duh Rember Evergrande? A Hong Kong court has ordered liquidation (https://www.reuters.com/business/embattled-china-evergrande-back-court-liquidation-hearing-2024-01-28/) of the company's assets, which spells trouble for Chinese savers The US Federal Reserve's Bank Term Funding Program will stop bailing out US Bank (https://www.frbdiscountwindow.org/GeneralPages/bank_term_funding_program#:~:text=What's%20New%3A%20On%20January%2024,scheduled%20on%20March%2011%2C%202024.)'s underwater treasury portfolio's in March while US Regional banks are still under financial pressure (https://www.reuters.com/markets/us/us-regional-bank-sell-off-cautionary-sign-more-pain-come-2024-02-02/) U.S. regional banking shares tumble for second straight day (https://www.cnbc.com/2024/02/01/us-regional-banking-shares-tumble-for-second-straight-day.html) Western Alliance Bancorp’s shares fell 4.8%, while those of Valley National Bancorp dropped 5%. Comerica’s (CMA.N), opens new tab shares fell 2.1%. The S&P 500 Banks index fell roughly 1.2%. The fall of U.S. regional banks stocks on Wednesday translated into $685 million in paper profits for short sellers, according to data and analytics company Ortex. US regional banks tumble for second straight day on NYCB woes | Reuters (https://www.reuters.com/business/finance/us-regional-banking-shares-under-lens-after-nycb-slide-2024-02-01/) Holger Zschaepitz on X (https://twitter.com/Schuldensuehner/status/1750635611592020171) Borrowing from Fed's emergency lending program rose to a fresh record, just before Fed raised the facility’s interest rate to stop financial institutions from taking advantage and arbitraging on its attractive terms. Demand for Bank Term Funding Program rose $6.3bn to an ATH of $167.8bn. Borrowing has jumped by $50bn since mid-November after program’s rate increasingly fell below the rate at which institutions could earn money by parking reserves at Fed. Any increase from here is not arbitrage-driven. (BBG) Image https://pbs.twimg.com/media/GEuBrOUWUAA_5E7?format=png&name=small Privacy Has Finnish law enforcement cracked Monero traceability (https://protos.com/did-law-enforcement-in-finland-crack-moneros-privacy-technologies/) or did a hacker accidentally upload his home folder (https://krebsonsecurity.com/2022/11/hacker-charged-with-extorting-online-psychotherapy-service/) during an extortion drop? Bitcoin Education Bitcoin Optech #287 covers a new replace by fee model (https://bitcoinops.org/en/newsletters/2024/01/31/) as well as more discussion of 'exogenous fee' incentives Feedback Remember to get in touch bitcoindadpod@protonmail.com 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/) Thank you Boosters If you get some value from this show,...

Pre-Show Swan Bitcoin Launches Swan Mining Out of Stealth Mode (https://www.nobsbitcoin.com/swan-mining-announced/) "We're mining around 4.5 EH - closing in on 1% of the network- with equipment in hand to ramp quickly to 8 EH," announced the company. News Blink plugin (https://www.nobsbitcoin.com/blink-plugin-for-btcpay-server/) for BTC Payserver gives custodial lightning payments/receipts to anyone running a BTC Payserver The COPA lawsuit, that will determine if CSW can call himself Satoshi, has discovered that CSW's 'newly found' Satoshi evidence is overwhelmingly fake (https://www.opencrypto.org/2024-01-24-COPAvCraigWright/) and COPA has decilined a desperate last minute settlment offer from CSW CSW Forgeries-COPAvWright.pdf (https://www.opencrypto.org/2024-01-23_Schedule_of_Dr_Wrights_Further_Forgeries-COPAvWright.pdf) Economics Chinese stocks suffer (https://archive.ph/1BiJL), likely due to reduced bank lending, another sign of tightening global monetary conditions Fed Unexpectedly Kills Bank "Free Money" Bailout-Fund Arbitrage Scheme As It Ends BTFP Program | ZeroHedge (https://www.zerohedge.com/markets/fed-suddenly-kills-banks-free-money-bailout-fund-arbitrage-scheme) ETF: FTX Still Haunting BTC Users FTX sold about $1 bln of Grayscale's bitcoin ETF since its approval (https://www.coindesk.com/business/2024/01/22/ftx-sold-about-1b-of-grayscales-bitcoin-etf-explaining-much-of-outflow-sources/) Vijay Boyapati 🦢 on X: "1/ There was a much more important fraud than SBF's embezzlement that took place in 2022. It was a fraud (allegedly) perpetrated by one of the oldest companies in the space, @DCGco and its CEO, @BarrySilbert. Time for a thread 👇" / X (https://twitter.com/real_vijay/status/1721385528510251182?s=20) James Seyffart on X (https://twitter.com/JSeyff/status/1750873552306254314) Update for day 10 of the #Bitcoin ETF Cointucky derby. Volumes and flows are both slowing down a bit. Another slight negative day on flows. Total net flows stand at +$744 million. $IBIT likely crosses 2 billion in assets today Bitwise Becomes First U.S. Spot Bitcoin ETF to Disclose BTC Holding Addresses (https://www.nobsbitcoin.com/bitwise-becomes-first-u-s-spot-bitcoin-etf-to-disclose-btc-holding-addresses/) Following the disclosure of the address, Bitwise also started receiving random donations and even inscriptions. Eric Balchunas on X (https://twitter.com/EricBalchunas/status/1750303492521206038) Privacy Trezor Warns of Unauthorized Email Impersonating Trezor Sent via Its Third-Party Email Provider (https://www.nobsbitcoin.com/trezor-warns-of-emails-impersonating-trezor-sent-from-a-its-third-party-email-provider/) Altcoins A series of articles give a high level overview (https://blog.dshr.org/2024/01/good-news-for-tether.html#more) of the patchwork of red flags that Tether is made of A Tether insider, whose Thai alias is a 'principle' on Bitfinex's Bahamanian registration, is alleged to have largely funded the Brexit campaign (https://www.dirtybubblemedia.com/p/tethers-secret-agent) A December article that analyses Tether's on-chain activity (https://www.dirtybubblemedia.com/p/examining-tethers-secret-loan-portfolio) and money printing via loans Bitcoin Education Bitcoin Optech covers a consensus failure (https://bitcoinops.org/en/newsletters/2024/01/24/) in btcd with limited risk vs a recent Etherium consensus failure (https://unchainedcrypto.com/most-ethereum-staking-pools-are-using-just-one-execution-client-potentially-increasing-risks-to-the-network/) reveal Feedback Remember to get in touch bitcoindadpod@protonmail.com 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/) Thank you Boosters If you get some value from this show, please consider sending a boost. Hearing from you means a...

Halving the next hype cycle 101 days and 14512 blocks left News ETF? SEC’s bitcoin ETF tweet fiasco may end in fraud charges, lawyers say - Blockworks (https://blockworks.co/news/sec-x-hack-legal-action) Day 1 Trade data: Grayscale: $2.3 billion BlackRock: $1 billion Fidelity: $700 million ARK 21Shares: $288 million Bitwise: $125 million Coinbase did $7B in Bitcoin transfers OTC during the day. (https://twitter.com/BTC_Archive/status/1745565435758559460) Wally Street seems happy with the results (https://twitter.com/EricBalchunas/status/1745786738549612749) $200M of folks finally getting out (https://twitter.com/akibablade/status/1745814139820294352) Eric Balchunas on XX (https://twitter.com/EricBalchunas/status/1745869555660881999) James Seyffart on X (https://twitter.com/JSeyff/status/1745868782273245196) "UPDATE: We don't have to wait till tonight for $GBTC Flows. Just -$95 million. A fraction of what I and many were thinking. This means yesterday was a huge success in my opinion. Likely going to see an inflow number for $BRRR from Valkyrie too! Day 1 Net flows sit at $625 mln The FCA, Britain's consumer financial regulator, guidelines discriminate against certain customers (https://www.nobsbitcoin.com/fcas-consumer-protection-regulations-make-uk-centralized-exchanges-unusable-for-retail-investors/) as unsuitable to buy bitcoin Economics Arthur Hayes on the confluence of financial system, banking, and economic stress, which means bitcoin might dump (https://cryptohayes.medium.com/signposts-693ba565cd3e) This relates to the U.S. central bank's BTFP expiring in March (https://wolfstreet.com/2024/01/09/the-fed-will-let-the-btfp-expire-in-march-fed-vice-chair-for-supervision-michael-barr/) Shinobi on Bitcoin Magazine explains the economic rational for layered scaling in terms of Jevons Paradox (https://bitcoinmagazine.com/markets/jevons-paradox-what-it-actually-means-for-bitcoin), the observation that increasing efficency can also increase demand, which increases price Privacy GrapheneOS discloses vulnerabilities actively exploited by forensic companies \ stacker news ~security (https://stacker.news/items/385351) The team and users at GrapheneOS have uncovered a vulnerability in smartphones being actively used by digital forensics companies / exploit brokers to facilitate extractions in the after-first unlock (AFU) phase. Bitcoin Education Bitcoin Optech #238 covers lightning anchors and LN Symetry, as well as reviwing some bitcoin core review club (https://bitcoinops.org/en/newsletters/2024/01/10/) questions Feedback Remember to get in touch bitcoindadpod@protonmail.com 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/) 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! Send a re-ocurring or one-off lightning boost to the show with no message at bdadpod@getalby.com or directly to Chris at chrislas@getalby.com 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) + Alby (https://getalby.com/) for boosts Castamatic (https://apps.apple.com/us/app/castamatic-podcast-player/id966632553) (Apple) Sponsors and Acknowledgements Music by Lesfm from Pixabay Self Hosted Show (https://selfhosted.show/) courtesy of Jupiter Broadcasting (https://www.jupiterbroadcasting.com/)

Pre-Show A personal account of living in Turkiye under soaring inflation (https://stacker.news/items/376570), many trends described here are also happening in the US and Europe News The financial incentives of bitcoin are no joke, as Blackrock Names JPMorgan as Authorized Participant for Spot Bitcoin ETF (https://news.bitcoin.com/blackrock-names-jpmorgan-as-authorized-participant-for-spot-bitcoin-etf-despite-jamie-dimon-wanting-to-ban-crypto/) Blackrock’s latest amended filing shows that it has named JPMorgan and Jane Street as the authorized participants for its spot bitcoin ETF. However, JPMorgan CEO Jamie Dimon recently said at a Senate hearing in reply to a question by Senator Elizabeth Warren (D-MA) that he would shut down cryptocurrency (https://news.bitcoin.com/jpmorgan-ceo-jamie-dimon-says-hed-close-crypto-down-if-he-were-the-government/) if he were the government, emphasizing that bitcoin and crypto are mainly used for criminal purposes. + Bitwise on X: "The findings are in. We surveyed 437 financial advisors across the nation to gauge their views on crypto assets. Here's what they had to say..." / X (https://twitter.com/BitwiseInvest/status/1742948461387866399) SBF's political crimes trial is not going to happen (https://archive.is/xTVXX) likely due to the US Presidential election in 2024 Sam Bankman-Fried’s Political Donations: What We Know | TIME (https://time.com/6241262/sam-bankman-fried-political-donations/) Interactive: Here are the politicians who received money from FTX's Sam Bankman-Fried - MarketWatch (https://www.marketwatch.com/story/here-are-the-politicians-who-received-money-from-ftxs-sam-bankman-fried-11670359945) Sam Bankman-Fried will not face a second trial, U.S. prosecutors decide (https://www.foxbusiness.com/business-leaders/sam-bankman-fried-face-second-trial-u-s-prosecutors-decide) Economics Paying for oil in Indian Rupees is still unattractive (https://economictimes.indiatimes.com/industry/energy/oil-gas/no-takers-for-rupee-payment-for-oil-imports/articleshow/106255276.cms) as transaction costs are higher than paying in dollars Lyn Alden's latest piece on divergence in US Monetary and Fiscal Policy (https://www.lynalden.com/january-2024-newsletter/) predicts government deficits driving monetary policy in the futre cut + The US Congres has had multiple crypto bills (https://blockworks.co/news/congress-2023-midsession-update) but little movement and none likely in 2024 Privacy and Bitcoin Education We've been seeing more questions about UTXO consolidation. There are privacy ramifications and things to consider about UTXO consolidation. Pre-ETF buy/sell could be a good time to address this. Fees are "lower" right now. Weekends also tend to be better. The first recommendation is to check out a recent episode: Bitcoin Dad Pod Episode 116: Liquid Courage (https://bitcoindadpod.fireside.fm/116) We do a bit of a primer in there and chat some solutions. The second recommendation is to check out a very well-done multi-part series by Unchained Captial: What is a bitcoin UTXO and why do they matter? - Unchained (https://unchained.com/blog/what-is-a-utxo-bitcoin/) More UTXOs, more problems: High fees, signing failures, and how to avoid them - Unchained (https://unchained.com/blog/too-many-bitcoin-utxos/) UTXOs, addresses, and CoinJoins: Preserving privacy in a bitcoin economy - Unchained (https://unchained.com/blog/bitcoin-utxo-privacy/) Feedback Remember to get in touch bitcoindadpod@protonmail.com 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/) 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...

News Institutional adoption is changing bitcoin's role in finance, is that good or bad? The Fragility of Bitcoin: Potential Challenges and Resilience (https://bitcoinfortress.substack.com/p/the-fragility-of-bitcoin-potential) Despite these challenges, there is reason to believe Bitcoin’s resilience shown to date will allow it to continue to push ahead into the future Nigeria removes bitcoin banking ban (https://news.bitcoin.com/nigerian-central-bank-lifts-february-2021-crypto-prohibition-order/) in favor of trying to regulate crypto companies Ocean pool is adding block template options (https://bitcoinmagazine.com/technical/ocean-adds-block-template-selection-option) that do not filter transactions per bitcoin knots policy, but you need to pay more to use them Economics Arthur Hayes lays out the fiat debasement hedge (https://cryptohayes.substack.com/p/expression) that is bitcoin and why other crypto value traps do not provide this fundamental value Altcoins Vitalik Buterin, one of the Etherium creators, thinks that ETH's technical complexity is undermining its functionality (https://nitter.net/techleadhd/status/1740415339312345256#m) and proposes limiting the number of validators and/or making them trusted parties (https://ethresear.ch/t/sticking-to-8192-signatures-per-slot-post-ssf-how-and-why/17989) Bitcoin Education BTC Payserver LNbank plugin is discontinued (https://www.nobsbitcoin.com/btcpay-server-ln-bank-plugin-2nd-cve/) after two serious vulnerabilies have Seth for Privacy has an awesome and actionable guide to build your own bitcoin mining pool (https://sethforprivacy.com/guides/run-your-own-bitcoin-pool), docker, ubuntu, shell commands, a great way to get some linux experience as well Feedback Remember to get in touch bitcoindadpod@protonmail.com 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/) 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! Send a re-ocurring or one-off lightning boost to the show with no message at bdadpod@getalby.com or directly to Chris at chrislas@getalby.com 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) + Alby (https://getalby.com/) for boosts Castamatic (https://apps.apple.com/us/app/castamatic-podcast-player/id966632553) (Apple) Sponsors and Acknowledgements Music by Lesfm from Pixabay Self Hosted Show (https://selfhosted.show/) courtesy of Jupiter Broadcasting (https://www.jupiterbroadcasting.com/)

Pre-Show The bitcointalk.org original hodl post is 9 years old (https://bitcointalk.org/index.php?topic=375643.0) and expresses many of the sentiments of the Game Stop Apes of January 2021 News Stacker news, a reddit clone that upvotes via lightning, has started OFAC complicance (https://stacker.news/items/354028?ref=nobsbitcoin.com) due to fears about US Financial regulation This might tie in with the politics of US Payroll (https://www.bitsaboutmoney.com/archive/payroll-providers-power-respect/) taxes and maximizing tax collection NTA Blog: Heard Loud and Clear: IRS Postpones Implementation of $600 Form 1099-K Reporting by a Year - TAS (https://www.taxpayeradvocate.irs.gov/news/nta-blog-heard-loud-and-clear-irs-postpones-implementation-of-600-form-1099-k-reporting-by-a-year/) As bitcoin transaction costs have risen, activity on the Liquid sidechain remains low (https://liquid.network/) while Alby, a popular bitcoin web payments plugin, is advertising a bounty to include Liquid (https://www.nobsbitcoin.com/alby-extension-v3-5-0/) support A high level critique of the Blockstream Liquid Sidechain (https://protos.com/blockstreams-pricey-liquid-sidechain-is-flawed-and-underused/), that is basically correct Liquid Network 🌊 on X (https://twitter.com/Liquid_BTC/status/1735072205975724344) "Under the high-fee market, there has been a renewed interest in second layers, resulting in an increased usage and adoption of Liquid 🌊. Marina - Liquid Wallet on X: "Pay and get paid via ⚡️ #LightningNetwork directly with your @Liquid_BTC balance. No channels, no routing errors, and no force close fees. 👀 Coming soon to your @MarinaWallet https://t.co/fl9Rs1qFcl" / X (https://twitter.com/MarinaWallet/status/1737478488330797182) Introducing Liquid Network to the Alby Browser Extension (https://blog.getalby.com/liquid/) Managing Liquidity on the Lightning Network - Builder's Guide (https://docs.lightning.engineering/the-lightning-network/liquidity/manage-liquidity) Ronin Dojo, the backend for Samurai Wallet, removes BISQ and bitcoin knots (https://blog.ronindojo.io/ronindojo-update-v2-1-2/?ref=nobsbitcoin.com) support Economics US mainstream news declares inflation dead (https://www.cbsnews.com/news/inflation-down-first-time-since-2020-pce/), just in time for Christmas but it conflates inflation with prices The U.S. Federal Reserve, a central bank, has changed their messaging from "higher interest rates for longer" at the begining of December to "thinking about cutting", but no one actually knows what data point (https://archive.is/Noaav) has changed this perspective Bitcoin Education Bitcoin Optech Year in Review (https://bitcoinops.org/en/newsletters/2023/12/20/), highlights the developments and controversies of the last year of bitcoin development Feedback Remember to get in touch bitcoindadpod@protonmail.com 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/) 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! Send a re-ocurring or one-off lightning boost to the show with no message at bdadpod@getalby.com or directly to Chris at chrislas@getalby.com 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) + Alby (https://getalby.com/) for boosts Castamatic...

Pre-Show At least one person is living on bitcoin (https://blog.bitmex.com/getting-paid-in-btc-in-sin/) in Singapore, all you need is a master's in finance and higher income than expenses News Warren Expands Coalition of Banking Committee Support for Bill Cracking Down on Crypto’s Use in Money Laundering, Drug Trafficking, Sanctions Evasion | U.S. Senator Elizabeth Warren of Massachusetts (https://www.warren.senate.gov/newsroom/press-releases/warren-expands-coalition-of-banking-committee-support-for-bill-cracking-down-on-cryptos-use-in-money-laundering-drug-trafficking-sanctions-evasion) Cosponsors - S.2669 - 118th Congress (2023-2024): Digital Asset Anti-Money Laundering Act of 2023 | Congress.gov | Library of Congress (https://www.congress.gov/bill/118th-congress/senate-bill/2669/cosponsors?s=1&r=19&overview=closed) Economics Arthur Hayes thinks that China and the US (https://cryptohayes.substack.com/p/panda-power) will coordinate a weak dollar policy to help China grow and the Democratic party win the 2024 election Bitcoin And Crypto To Be Measured At Fair Value Under New FASB Rules | Nasdaq (https://www.nasdaq.com/articles/bitcoin-and-crypto-to-be-measured-at-fair-value-under-new-fasb-rules) Bitcoin to be recorded at fair value under new FASB rules issued toda (https://twitter.com/BTC_Archive/status/1734954990165275103) Why is the EU supporing a French bank backed Euro stablecoin (https://amycastor.com/2023/12/09/societe-generales-useless-euro-stablecoin-when-bank-blockchain-units-go-feral/)? It's dollarization fears Privacy US Mass surveillance is increasing House Intel Committee Approves FISA Reform and Reauthorization Act of 2023 | Permanent Select Committee On Intelligence (https://archive.ph/n1vSs#selection-412.0-412.1) A 'broadening' of the term “electronic service communications provider” means that every wifi network (https://threadreaderapp.com/thread/1734249938333167889.html?ref=nobsbitcoin.com) or business in the USA will need to give the government your data without a warrant (https://www.nobsbitcoin.com/house-intelligence-committees-section-702-reform-bill-marks-the-biggest-expansion-of-surveillance-in-united-states-since-the-patriot-act/) Even a former FISA judge is alarmed at this overreach (https://www.zwillgen.com/law-enforcement/fisa-reform-bill-702-surveillance/) The EFF is on alert (https://www.eff.org/deeplinks/2023/12/section-702-needs-reform-and-oversight-not-expansion-congress-should-oppose-hpsci?ref=nobsbitcoin.com) Even IT industry publications like the Register (https://www.theregister.com/2023/12/14/congress_renews_fisa_section_702/) are reporting on this privacy monstrosity Is late stage liberalism when democratic state become de-facto authoritarian (https://podverse.fm/episode/loEoeZR1R) by ignoring the political ramifications of wealth? Ledger Wallet is a surveillance application (https://www.nobsbitcoin.com/ledger-live-tracks-and-sends-out-all-user-information-by-default/) and they have had their fragile cloud infrastructure compromised do not use ledger or their dApp ecosystem (https://twitter.com/MatthewLilley/status/1735285684070461534?t=Dn4QkFt9jP0QOTc0VW2S2A) "FINAL TIMELINE AND UPDATE TO CUSTOMERS" (https://twitter.com/Ledger/status/1735326240658100414) Ledger Connect Kit Exploited (https://www.nobsbitcoin.com/ledger-connect-kit-exploited/) Bitcoin Education Bitcoin Optech mentions another stratum V2 mining pool (https://bitcoinops.org/en/newsletters/2023/12/13/) launch More developments on ecash wallet recovery (https://www.nobsbitcoin.com/minibits-v0-1-5-beta/), interesting technology but difficult legally Feedback Remember to get in touch bitcoindadpod@protonmail.com 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/) Boosts From:...

Pre-Show Chainalysis' global crypto adoption survey demonstrates that grass roots adoption surges in hostile monetary environments (https://archive.ph/wIkRQ) Financial Distress Leads To Surge In Early 401(k) Withdrawals, Bank Report Shows (https://www.forbes.com/sites/brianmenickella/2023/11/01/financial-distress-leads-to-surge-in-early-401k-withdrawals-bank-report-shows/?sh=30632d8f7fdc) Seattle is a victim of its own success | The Seattle Times (https://www.seattletimes.com/opinion/seattle-is-a-victim-of-its-own-success/) Study shows $100K is actually worth about $49K in Seattle (https://www.fox13seattle.com/news/study-shows-100k-is-actually-worth-about-49k-in-seattle) Freight recession will continue in 2024: CNBC Supply Chain Survey (https://www.cnbc.com/2023/11/07/freight-recession-will-continue-in-2024-cnbc-supply-chain-survey.html) News Getting fiat liquidity from bitcoin is getting harder in the US (https://stacker.news/items/336350) The noose tightens Already happened with Ledn in Cannada Ties in with ETF narrative Unchained to Pause Bitcoin Backed Loans to Individuals (https://www.nobsbitcoin.com/unchained-to-stop-offering-bitcoin-backed-loans-to-individuals/) Economics The incentives of financial regulation have led to it being a broken system (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4517659) for over 70 years Hardware Wallet News Jack Dorsey's Block Unveils Hardware Wallet Bitkey (https://bitkey.build/) Bitkey Recovery Features PDF (https://bitkey.build/content/files/2023/11/Bitkey-Recovery-Features.pdf) Bitkey consists of a mobile app, hardware device and a set of recovery tools. The app and hardware device form two of the three keys used to secure a customer's bitcoin, with the third stored on the phone OS providers cloud storage. Encyrpted locally before uploaded. Losing your keys without losing your coins (https://bitkey.build/losing-your-keys-without-losing-your-coins/) Privacy Ocean pool may be incompatible with Samurai whirlpol (https://news.bitcoin.com/samourai-wallet-calls-out-ocean-pool-for-censoring-whirlpool-privacy-transactions), a bitcoin coinjoin solution Bitcoin Education Bitcoin Optech Newsletter #280 (https://bitcoinops.org/en/newsletters/2023/12/06/?ref=nobsbitcoin.com) covers cluster mempool (https://bitcoinops.org/en/topics/cluster-mempool/), a new method of grouping dependent transactions into 'chunks' that will make CPFP and other feebumping transactions like RBF work better, with a working group (https://delvingbitcoin.org/c/implementation/wg-cluster-mempool/9) on the Delving Bitcoin forum. Feedback Remember to get in touch bitcoindadpod@protonmail.com 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/) 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! Send a re-ocurring or one-off lightning boost to the show with no message at bdadpod@getalby.com or directly to Chris at chrislas@getalby.com 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) + Alby (https://getalby.com/) for boosts Castamatic (https://apps.apple.com/us/app/castamatic-podcast-player/id966632553) (Apple) Sponsors and Acknowledgements Music by Lesfm from Pixabay Self Hosted Show (https://selfhosted.show/) courtesy of Jupiter Broadcasting...

Pre-Show Bad entropy will get your bitcoins stolen (https://nitter.net/mononautical/status/1728946778798793126?ref=nobsbitcoin.com) News This cycle's bitcoin environmental FUD is probably going to be water usage (https://www.theverge.com/2023/11/29/23979858/bitcoin-mine-cryptocurrency-water-use-analysis-energy) Shiny new FUD ammo takes media by storm! (https://stacker.news/items/333497) Rebuttal of BBCNews article, and the Underlying Study, on Bitcoin Water Usage – Batcoinz (https://batcoinz.com/2484-2/) Unchained surveyed US investors and sentiment is very bullish on bitcoin (https://unchained.com/blog/bullish-on-bitcoin-us-investor-outlook-for-btc-in-2024/) Economics What is Global R* (https://bankunderground.co.uk/2023/11/30/global-r/)? And why is it still falling? A Mechanistic model based view of society, humans, and economics is wrong It's not good enough to centrally manage human existence Privacy The US Treasury wants to expand warrantless mass surveillance and sanction free speach via software (https://www.coincenter.org/in-an-effort-to-close-perceived-loopholes-treasury-recommends-massive-expansion-of-warrantless-surveillance-and-power-to-sanction-open-source-software/) in order to strengthen its ability to sanction Bitcoin Education Bitcoin Optech covers liquidity advertisements (https://bitcoinops.org/en/newsletters/2023/11/29/), a feature of dual-funded channels on lightning offered by Core lightning from Blockstream both parties contribute a utxo to a lightning channel liquidity on both sides of the channel at opening Feedback Remember to get in touch bitcoindadpod@protonmail.com 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/) Bitcoin Dad Pod - Pay with you Fav App (https://fountain.fm/show/iSDKQzR5V5DCLn2AuUnI) I sent a boost via Fountain.fm's website Scanned the QR code with my Strike app No Alby or new Podcasting app required! 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! Send a re-ocurring or one-off lightning boost to the show with no message at bdadpod@getalby.com or directly to Chris at chrislas@getalby.com 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) + Alby (https://getalby.com/) for boosts Castamatic (https://apps.apple.com/us/app/castamatic-podcast-player/id966632553) (Apple) Sponsors and Acknowledgements Music by Lesfm from Pixabay Self Hosted Show (https://selfhosted.show/) courtesy of Jupiter Broadcasting (https://www.jupiterbroadcasting.com/)

Interview: Peter Todd Critiquing Drivechains Peter's technical critique (https://petertodd.org/2023/drivechains) document Peter's blog (https://petertodd.org) OpenTimestamps website (https://opentimestamps.org/) Previous Interviews with Paul Storcz (on Drivechains) TickTok Activated Softforks with Paul Sztorc (https://bitcoindadpod.fireside.fm/43) Interview: Scaling, Development, and Drivechains with Paul Sztorc (https://bitcoindadpod.fireside.fm/87) Feedback Remember to get in touch bitcoindadpod@protonmail.com 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/) 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! Send a re-ocurring or one-off lightning boost to the show with no message at bdadpod@getalby.com or directly to Chris at chrislas@getalby.com 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) + Alby (https://getalby.com/) for boosts Castamatic (https://apps.apple.com/us/app/castamatic-podcast-player/id966632553) (Apple) Sponsors and Acknowledgements Music by Lesfm from Pixabay Self Hosted Show (https://selfhosted.show/) courtesy of Jupiter Broadcasting (https://www.jupiterbroadcasting.com/)

Pre-Show Mempool Observer seems to have caught bitcoin mining pool F2pool not mining OFAC sanctioned bitcoin addresses (https://b10c.me/observations/08-missing-sanctioned-transactions/) The SEC thinks polygon and solana are securities (https://web3isgoinggreat.com/single/kraken-sued-by-us-sec) but this is likely insurance against losing an identical lawsuit against Coinbase News Binance's CEO CZ will plead guilty (https://archive.ph/gp2uM) to U.S. money laundering charges, and the exchange will pay a $4.3bn fine to settle some US allegations of ciminality (https://www.coindesk.com/consensus-magazine/2023/11/21/binances-cz-and-the-end-of-the-borderless-crypto-company/?utm_medium=referral&utm_source=rss&utm_campaign=headlines) though SEC and CTFC lawsuits are still pending Bitrex, another non-US crypto exchange, is shutting down (https://www.theblock.co/post/263875/bittrex-global-to-wind-down-operations-urges-customers-to-withdraw-funds) Dec 4th Bhutan's bitcoin mining operation has been identified by Forbes (https://archive.ph/6yDSk) Wallet of Satoshi, a popular custodial bitcoin lightning wallet, is removing its app from US app stores (https://twitter.com/walletofsatoshi/status/1727937085741678679), as it is a not compliant with US regulations around financial custody Apple Deactivates Zeus Developer Account Following Antitrust Lawsuit by Cash App & Venmo Users (https://www.nobsbitcoin.com/apple-deactivates-zeus-developer-account/) EVAN KALOUDIS on X (https://twitter.com/evankaloudis/status/1727336468920864844) "Apparently, if you get cited in someone else's anti-trust lawsuit, Apple will deactivate your developer account without notice. Economics The Monetary Gates Are Open - Lyn Alden (https://www.lynalden.com/november-2023-newsletter/) the killer app for this technology is money: savings and payments. Bitcoin is a powerful innovation with long-term potential. Stablecoins have been a powerful bridging tool as well. Argentina's new president is a symptom of this trend towards dollarization and stablecoins are popular (https://cointelegraph.com/news/stablecoins-remain-indispensable-argentina-under-new-president-ripio-ceo) in Argential Is bitcoin entering it's epoch of diminishing returns (https://ecoinometrics.substack.com/p/bitcoin-is-falling-behind-on-the)? I guess we'll find out soon Privacy Cloudflare seems to be filtering for OFAC listed etherium addresses (https://torrentfreak.com/cloudflare-blocks-abusive-content-on-its-ethereum-gateway-231121/) via its Etherium gateway service Coincenter, a crypto lobbying group, asks is the U.S. Bank Secrecy Act constitutional? (https://www.coincenter.org/its-time-to-have-the-conversation-is-the-bank-secrecy-act-unconstitutional/) obviously not but that doesn't matter Altcoins Bitcoin Education Bitcoin Optech covers lightning offer addresses (https://bitcoinops.org/en/newsletters/2023/11/22/) Feedback Remember to get in touch bitcoindadpod@protonmail.com 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/) 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! Send a re-ocurring or one-off lightning boost to the show with no message at bdadpod@getalby.com or directly to Chris at chrislas@getalby.com 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...

Waxwing's blog (https://reyify.com/blog) JoinMarket (https://github.com/JoinMarket-Org/joinmarket-clientserver), WaxWing's coinjoin software, link to the github repo Previous interview on coinjoin (https://bitcoinmagazine.com/technical/joinmarket-lead-on-bitcoin-mixing-future) His PathCoin presentation (https://talks.adoptingbitcoin.org/media/adopting-bitcoin-2023/submissions/RR8XA9/resources/pathcoinpres2_quexSf4.pdf) from Adopting Bitcoin 2023 Feedback Remember to get in touch bitcoindadpod@protonmail.com or @bitcoindadpod on twitter Outro Podcasting 2.0 to support an indepenent podcasting ecosystem (https://podcastindex.org/) The Fountain (https://www.fountain.fm/) podcast app ## Sponsors and Acknowledgements Music by Lesfm from Pixabay Self Hosted Show (https://selfhosted.show/) courtesy of Jupiter Broadcasting (https://www.jupiterbroadcasting.com/)

Pre-Show ETF hype fading? End of an 8 day approval window Bloomberg's James Seyffart says still a 90% chance approval by Jan 10th 2024. James Seyffart on X (https://twitter.com/JSeyff/status/1724469793422508533) "Okay, we're nearing in on deadline dates for 3 spot #Bitcoin ETF applications. I want to get ahead of it because there's a pretty good chance we'll see delay orders from the SEC. Delays WOULD NOT change anything about our views & 90% odds for 19b-4 approval by Jan 10, 2024 Bitcoin News on X (https://twitter.com/BitcoinNewsCom/status/1725566270488170920) JUST IN: @EricBalchunas of Bloomberg reports that the 🇺🇸 SEC is advising spot #Bitcoin ETF issuers that they prefer cash creations over in-kind creations for these ETFs. Cash "creates" mean the issuer would transact in cash instead of using #Bitcoin directly. The SEC prefers cash creates because broker-dealers can't directly handle Bitcoin. This move is seen as a positive step indicating progress in the approval process, despite the potential need for adjustments by the ETF filers. Bitcoin Archive on X (https://twitter.com/BTC_Archive/status/1724471921734013287) "CNBC host questions why the SEC hasn't approved a spot #Bitcoin ETF because Chairman Gary Gensler certainly understands Bitcoin. “He taught Bitcoin at MIT, he understands it…there has to be something else." I wonder… 🧐 News Economics Consumer inflation in the US is moderating as consumers get poorer (https://wolfstreet.com/2023/11/16/walmart-consumers-no-longer-willing-to-pay-whatever-prices-of-goods-fall-broadly-as-inflation-shifted-to-services/), but the monetary base continues to rise (https://fred.stlouisfed.org/series/BOGMBASE/) due to government spending Car Insurance Inflation: 19.2% Car Repair Inflation: 9.6% Transportation Inflation: 9.2% Rent Inflation: 7.2% Homeowner Inflation: 6.8% Food Away From Home Inflation: 5.4% Cereals & Bakery Products Inflation: 4.2% While CPI inflation is at 3.2%, inflation is much higher in many basic necessities (https://twitter.com/KobeissiLetter/status/1725507414827430208) Crypto Tea on X (https://twitter.com/CryptoTea_/status/1725514539838439455): The problem with bitcoin. I bull post often but I want you to be aware of the problems with decentralization people have found a way around bitcoins rules to post pictures and memecoins on the blockchain there are currently 300,000 pending transactions, fees are spiking to $12 Bitcoin Average Transaction Fee (https://ycharts.com/indicators/bitcoin_average_transaction_fee) Bitcoin Average Transaction Fee is at a current level of 18.69, up from 8.776 yesterday and up from 2.207 one year ago. This is a change of 113.0% from yesterday and 746.9% from one year ago. Privacy Swan Bitcoin to Limit Customers Interacting with Privacy Services Due to Partner Policy (https://www.nobsbitcoin.com/swan-bitcoin-privacy-update/) "Please be advised that depositing directly from, or withdrawing directly to, a mixing wallet may result in the termination of your account with our banking and custodial partners," the company added. FinCEN Seeks to Impose Strict Surveillance Requirements onto Broadly Defined Class of 'Bitcoin Mixers' (https://www.nobsbitcoin.com/fincen-wants-to-outlaw-certain-bitcoin-on-chain-transactions/) FinCEN emphasizes that Convertible Virtual Currency [CVC] mixing does not fully rely on the use of CVC mixers and include the following methods: Pooling or aggregating CVC from multiple persons, wallets, addresses, or accounts. Splitting CVC for transmittal and transmitting the CVC through a series of independent transactions. Using programmatic or algorithmic code to coordinate, manage, or manipulate the structure of a transaction. Creating and using single-use wallets, addresses, or accounts and sending CVC through these wallets, addresses, or accounts in a series of transactions. Exchanging between types of CVC, or other digital assets. Facilitating user-initiated delays in transactional activity. Open source journalist...

Pre-Show The PlanB indicator is flashing bull market (https://twitter.com/100trillionUSD/status/1722947159308259733?t=5tu5Eb_ilj387fA9ljWFAA&s=09) /s News Adopting Bitcoin Conference stats: 1100 attendees 350 Salvadoran Over 150 sessions El Salvador’s Rating Raised by S&P on Local Debt Refinancing (https://archive.ph/Y0YUN) Remember that the downgrade was partially attributed to bitcoin (https://www.fitchratings.com/research/sovereigns/fitch-downgrades-el-salvador-long-term-idr-to-ccc-from-b-09-02-2022) but also focused on the country's reliance on short term debt financing Tourism, a major economic driver in El Salvador, plummeted during the 2020 pandemic (https://www.statista.com/statistics/816553/el-salvador-number-of-tourist-arrivals/) but has increased sharply 2023 numbers are also higher (https://elsalvadorinenglish.com/2023/07/13/milestone-achieved-el-salvadors-tourism-soars-with-1-6-million-visitors-in-2023/) driven by hosting international events such as Adopting Bitcoin and the 📈 El Salvador exceeded projections, welcoming 1.6 million visitors by June, emphasizing the impact of hosting international events on this achievement. 💵 The country received approximately $1.6 billion in foreign currency by June, approaching the $2.9 billion target for 2023, contributing significantly to economic growth. Economics Germany, the beating heart of global manufacturing is already in recession (https://archive.ph/HzyQU) and the rest of the world will follow A US Treasury auction has just failed (https://snort.social/e/nevent1qqs0anj7arysssgkm7d5mc020wxmjmqqwj8qy22jrqmrkef2qy22cucpp4mhxue69uhkummn9ekx7mqzyr4tpe6k6v4cp0x5vneas39cqspsxp66z04tcdve5a3vntr6hy057qcyqqqqqqgcxca6y), welcome to the End Game The Periphery (https://blog.bitmex.com/the-periphery/) Bull vs Bear steepeners > When the recession or financial calamity occurs, short-end rates will fall quickly as the Fed aggressively cuts its policy rate in response. That is the “oh shit” moment. The yield curve un-inverts and then steepens (long-end rates higher than short-end rates), but it will do so while yields are generally falling. This is called a “bull steepener” and is the classic way the yield curve has moved in modern financial history. > > Right now, there is no US recession and no financial calamity. To the intellectually dishonest TradFi cheerleaders like Paul Krugman, the regional banking crisis doesn’t count; they will need to see a firm like Bank of America go bust to acknowledge the deep rot in the US banking system. Therefore, the market, aka bond vigilantes, expect the Fed to continue raising rates to fight inflation. But the Fed said rate hikes are paused, therefore the bull steepening scenario won’t occur. Then why should the vigilantes continue holding long-end bonds? They won’t, and they will express their view by selling long-end bonds at the margin. Solution is for US Gov to cut spending and increase income, will exacerbate recession This is completely impossible the US Secret service spends ~$3bn/year just protecting the president (https://www.usaspending.gov/federal_account/070-0400) Interest rate hedging means that higher short term rates bankrupt banks Bear steepener bankrupts banks Pre-payment of mortages bankrupts banks All of these things mean selling treasuries > Underneath the veneer of record-breaking profits is a ticking time bomb hidden in the recesses of Too Big To Fail global banks. I’m talking about the likes of JP Morgan, Goldman Sachs, BNP Paribas, Nomura, etc. They sold trillions of notional worth of these products to desperate pension and insurance companies, and now will find themselves gushing losses larger than Three Arrows Capital. To hedge and stop the bleeding, these banks all must trade the same way. The more they hedge, the more they lose. All of this is due to the bear steepener, which is a direct result of Fed and global central banking policy. Talk about a TradFi human centipede. The FED Raising rates is not about fighting...

Pre-Show Federal Reserve Threatens to Sue Bitcoin Magazine Over FEDNOW Parody Merch (https://www.nobsbitcoin.com/fed-threatens-to-sue-bitcoin-magazine/) The rollout of FedNow, a realtime payments system, has been predictably slow (https://archive.ph/uZJ25#selection-2527.101-2527.109) with a focus on bank-to-bank xfers It compares favorably with the adoption of RTP (https://www.theclearinghouse.org/payment-systems/rtp), a private realtimes payment network RTP is faster and cheaper (https://www.moderntreasury.com/learn/what-is-rtp) than ACH or wire xfers but expensive compared to the bitcoin lightning network MasterCard has a brief history (https://www.mastercard.com/news/perspectives/2023/real-time-payments-what-is-rtp-and-why-do-we-need-instant-payments/) of real time payments But fraud is still an unsovled problem (https://www.fico.com/blogs/what-authorised-push-payment-fraud) even on these more modern payment rails News The Kollider lightning derivatives exchange is shutting down (https://twitter.com/kollider_trade/status/1720428682072772708) after failing to find enough traders willing to use lightning Cyrpto VC and Bitcoin writer Nic Carter has been distributing bounties (https://archive.ph/wYX5L) to debunk the Wall Stree Journal, a financial newspaper, article that claimed Hamas' recent terrorist attack was funded by 'crypto' As SBF is found guilty on all chargers, the WSJ has an interesting profile of Do Kwan (https://archive.ph/7ZYLo), the founder of the bankrupt Terra-Luna algorithmic stablecoin system Economics Another U.S. regional bank (https://www.financialexpress.com/business/investing-abroad-citizens-bank-closed-the-federal-deposit-insurance-corporation-fdic-appointed-as-receiver-3296943/) has failed, but its small and probably doesn't matter? Privacy Kraken is complying with the US IRS' John Doe summons (https://bitcoinmagazine.com/business/kraken-begins-notifying-customers-it-will-send-their-data-to-the-irs-this-november-?ref=nobsbitcoin.com) turning over large amounts of data on customers with more than $20k in trades Altcoins SafeMoon not safe from the US Dept of Justice (https://www.justice.gov/usao-edny/pr/founders-and-executives-digital-asset-company-charged-multi-million-dollar), who have arrested several founders on fraud charges Bitcoin Education Bitcoin optech covers discussions around bitcoin scripting (https://bitcoinops.org/en/newsletters/2023/11/01/), the main divergence appears to be more expressive (computationally expensive) script, vs a witness model where the logic/computation lives off chain but he blockchain holds Feedback Remember to get in touch bitcoindadpod@protonmail.com 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/) 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! Send a re-ocurring or one-off lightning boost to the show with no message at bdadpod@getalby.com or directly to Chris at chrislas@getalby.com 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) + Alby (https://getalby.com/) for boosts Castamatic (https://apps.apple.com/us/app/castamatic-podcast-player/id966632553) (Apple) Sponsors and Acknowledgements Music by Lesfm from Pixabay Self Hosted Show (https://selfhosted.show/) courtesy of Jupiter Broadcasting...

Pre-Show Main stream financial blogger Rich Dad Poor Dad views bitcoin as a hedge against Central Bank Risk (https://bitcoinmagazine.com/markets/rich-dad-poor-dad-kiyosaki-next-stop-for-bitcoin-price-130000) Actually Kiyosaki is quite shady (https://slate.com/business/2016/02/robert-kiyosaki-s-ongoing-legal-dispute-says-everything-about-the-shadiness-of-personal-finance-gurus.html) despite his financial success, typical bitcoin tout amiright? Economics The US Social Security Trust Fund is still drawing down (https://wolfstreet.com/2023/10/23/social-security-update-trust-fund-income-outgo-and-deficit-in-fiscal-2023/) which may affect US Treasury Market liquidity as the world enters a decade of Fiscal Dominance (https://research.stlouisfed.org/publications/review/2023/06/02/fiscal-dominance-and-the-return-of-zero-interest-bank-reserve-requirements) The latest FED working paper (https://files.stlouisfed.org/files/htdocs/publications/review/2023/10/02/fiscal-dominance-and-the-return-of-zero-interest-bank-reserve-requirements.pdf) on fiscal dominance identifies the banking sector as the future warehouse of large US debt issuances Privacy FinCen is coming for coinjoin on bitcoin (https://protos.com/bitcoins-coinjoin-services-threatened-by-new-fincen-rules/) a year after sanctioning privacy on Etherium via the Tornado Cash blacklist Request for comment coincides with Elizabeth Warren's latest hyperbolic attack on crypto (https://www.wsj.com/articles/cryptocurrency-feeds-hamass-terrorism-e0db54f5) and misrepresentation of the role of digital currency in funding Hamas Good analysis of the story from shinobi (https://bitcoinmagazine.com/legal/fincen-proposes-insane-special-measures) Coin Center, a crypto advocacy group, filed a motion to halt (PDF WARNING) (https://www.coincenter.org/app/uploads/2023/10/As-Filed-Coin-Center-Amicus-Brief.pdf) the US tax authority's John Doe Summons (https://www.reuters.com/legal/government/crypto-trader-can-sue-irs-over-john-doe-summons-coinbase-records-1st-circ-2022-08-19/) against crypto exchanges that suck up personal financial information Altcoins Is there an alternative to 'layered scaling' when it come to increasing blockchain throughput? Galaxy would like you to think so (https://www.galaxy.com/insights/research/making-sense-of-blockchain-modularity/). Bitcoin Education Optech #274 focuses on the lightning HTLC recycling attack (https://bitcoinops.org/en/newsletters/2023/10/25/) and mitigations that can't fully address the protocol level vulnerability It brings to mind the recent HTTP/2 Rapid Reset attack, the vulnerability is at the protocol level (https://www.cisa.gov/news-events/alerts/2023/10/10/http2-rapid-reset-vulnerability-cve-2023-44487), there's no 'fix', only mitigation Feedback Remember to get in touch bitcoindadpod@protonmail.com 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/) Boosts From: Withers Hey guys, I've really been enjoying the show. I guess Jupiter Broadcasting wasn't sending me down enough rabbit holes, so now I have bitcoin! Do either of you use metal plates to save your seed phrases? Any suggestions? Check out https://jlopp.github.io/metal-bitcoin-storage-reviews/ From: Hal was right Dhruv Bansal has a three part article on what bitcoin would look like if expanded to the entire solar system. Highly recommended! https://unchained.com/blog/law-of-hash-horizons/ 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! Send a...

Pre-Show Eurosystem proceeds to next phase of digital euro project (https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr231018~111a014ae7.en.html) ECB's Digital Euro CBDC Project Moves to 'Preparation' Phase (https://www.coindesk.com/policy/2023/10/18/digital-euro-project-moves-to-preparation-phase/) The actual report details how the digital euro is basically a credit card (https://www.ecb.europa.eu/paym/digital_euro/investigation/profuse/shared/files/dedocs/ecb.dedocs231018.en.pdf) processing system with the ECB as the clearinghouse News Wordpress site hackers are using Binance Smart Chain (https://archive.ph/7t1jp) to host malware payloads free to call contract data cheap to update the contract contents on BSC Using a storage function on-chain to store payload We hope that Jimmy Zhong (https://archive.ph/ynP7T), who plead guilty to 'hacking' the Silk Road, serves his prison sentence without issue and lands on his feet There is also a documentary (https://www.youtube.com/watch?v=3Nq3ye-QCyM) about Jimmy's story Full Disclosure: CVE-2023-40231 / CVE-2023-40232 / CVE-2023-40233 / CVE-2023-40234 "All your mempool are belong to us" (https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2023-October/022032.html) US SEC does not plan to appeal court decision on Grayscale bitcoin ETF -source | Reuters (https://archive.ph/cTvPL#selection-357.0-357.70) US SEC does not plan to appeal court decision on Grayscale bitcoin ETF A coindesk editorial on Ripple is very pro CBDC (https://www.coindesk.com/consensus-magazine/2023/10/17/ripple-vp-the-policy-considerations-justifying-the-implementation-of-cbdcs) while failing to make a case for any social benefits, and completely missing the huge social costs of closed payment systems, of course it was written by Ripple's VP for CBDCs Economics Bitcoin beats inflation if you hold it long enough (https://ecoinometrics.substack.com/p/bitcoin-is-beating-inflation-if-you) Privacy The EU keeps trying to eliminate digital privacy (https://www.patrick-breyer.de/en/posts/chat-control/) and in a weird twist, this effort is being pushed by Aston Kutcher (https://balkaninsight.com/2023/09/25/who-benefits-inside-the-eus-fight-over-scanning-for-child-sex-content/) of 'That 70s Show' Altcoins Coinbase sort of out of india (https://techcrunch.com/2023/09/10/coinbase-india/?guccounter=1) Bitcoin Education Bitcoin Optech #273 covers BitVM, a lightning vulnerability (https://bitcoinops.org/en/newsletters/2023/10/18/) and much more Fidelity Investment's latest bitcoin report (https://web.archive.org/web/20231011014449/https://fidelitydigitalassets.com/sites/default/files/documents/1012662.3.0%20Bitcoin%20First%20Revisited_Final.pdf) is an excellent summary on bitcoin's value proposition Value of scarcity Network effects No real competition from other digital assets Game theory of bitcoin forks Feedback Remember to get in touch bitcoindadpod@protonmail.com 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/) Boosts From: Extropian Wallet Recomendations > BlueWallet and Nunchuck for on-chain. Phoenix and Zeus for lightning. ENuts for Chaumen mint (private custodial Lightning) 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! Send a re-ocurring or one-off lightning boost to the show with no message at bdadpod@getalby.com or directly to Chris at chrislas@getalby.com Value for Value Podcasting 2.0 to support an indepenent podcasting ecosystem (https://podcastindex.org/)...

Pre-Show A busy week for Bitcoin Hardware Trezor's bitcoin only firmware (https://trezor.io/trezor-safe-3-bitcoin-only) anniversery hardware signing device is very orange Swan Partners with Blockstream to Launch Swan Vault (https://www.nobsbitcoin.com/swan-partners-with-blockstream-to-launch-swan-vault/) "Integrating Blockstream Jade's multi-signature and hardware-based authentication into Swan Vault elevates the standards of Bitcoin collaborative custody," said Swan Bitcoin CEO Cory Klippsten. Coldcard Mk4 v5.2.0: Seed Vault, PSBTv2 & More (https://www.nobsbitcoin.com/coldcard-mk-v5-2-0/) "TL;DR: First Bitcoin Singing-Device to store MULTIPLE seeds. Switch between them effortlessly. Ideal for custodians (think Grandma's stash), devs, experiments, and secure key handling (e.g., TAPSIGNER backups)." News FTX is Crazier than we Knew FTX did bribes and identity theft (https://www.coindesk.com/policy/2023/10/11/live-caroline-ellison-starts-day-2-of-testimony-against-sam-bankman-fried/) to try to unfreeze stuck funds in China Alameda’s paper trail leads straight to Sam Bankman-Fried - The Verge (https://www.theverge.com/2023/10/11/23913665/ftx-sam-bankman-fried-fraud-trial-caroline-ellison-testimony-alameda-balance-sheets) Molly White on X: "Caroline Ellison's infamous "Things Sam [Bankman-Fried] is freaking out about" list (https://twitter.com/molly0xFFF/status/1712267259513655543) Molly White on X: Things Same is Excited About list (https://twitter.com/molly0xFFF/status/1712268114350510225) Other Deets Took Caroline 45 secs to point SBF out in the court room when asked. during a sidebar today the lawyers were arguing over whether SBF was trying to intimidate Caroline by laughing and scoffing at her testimony. BF's lawyer spat back and said she couldn't even point him out in the courtroom yesterday (https://twitter.com/zackdabrams/status/1712288777685598298) Teddy Schleifer on X: "One gem from today’s Caroline Ellison testimony is SBF’s belief that he got “bigger bonuses” at Jane Street because of his … hair." / X (https://twitter.com/teddyschleifer/status/1712264224078966853) BitVM What are the implications of turing complete contracts (https://h.docs.lol/inUWILxDRBySwAkajWmfxw) on bitcoin? Nothing at the moment, it demonstrates the creation of basic logic gates on bitcoin but requires massive amounts of off-chain data (https://bitcoinmagazine.com/technical/the-big-deal-with-bitvm-arbitrary-computation-now-possible-on-bitcoin-without-a-fork) the cost to 'enforce' such a contract onchain would be prohibitively large And there can only be two participants BitVM: Limitations and Moving Forward (https://twitter.com/BobBodily/status/1712305639366811997) BitVM explained in 4 slides (https://twitter.com/BTCillustrated/status/1712440417524810227) Blockstream Greenlight is a LAS lightning as a service (https://blog.blockstream.com/greenlight-is-now-open-for-business/) offering that turns lightning node operation into an business ready service ala the software as a service model It seperates the node's network operations and signing/security operations using the validated lightning signer (https://community.corelightning.org/c/start-here/build-on-l2-supports-vls-integration-into-greenlight-with-150-000-grant?ref=blog.blockstream.com) project that can run on a hardware security module Economics Folks betting on rate drops in a few years? Risky Mortgages Could Lead to Foreclosure Spike (https://www.newsweek.com/risky-mortgages-adjustable-rate-increase-foreclosure-hike-1834235?piano_t=1) The year-over-year uptick in headline CPI has been occurring for three months now. (https://twitter.com/LynAldenContact/status/1712498165490798820) Official price levels are cumulatively about 19% higher than the start of 2020. tcoin Education Feedback Remember to get in touch bitcoindadpod@protonmail.com or @bitcoindadpod (https://mobile.twitter.com/bitcoindadpod) on twitter Consider joining the matrix channel...