Stephan Livera에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Stephan Livera 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
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Stephan Livera Podcast
모두 재생(하지 않음)으로 표시
Manage series 2482009
Stephan Livera에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Stephan Livera 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
Join Stephan as he interviews the sharpest economic and technical minds in Bitcoin & Austrian Economics to help you understand how money is changing and evolving. Leading names in the world of Bitcoin join the show to share their insights, whether they are developers, CEOs, economists, authors, analysts and more.
…
continue reading
667 에피소드
모두 재생(하지 않음)으로 표시
Manage series 2482009
Stephan Livera에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Stephan Livera 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
Join Stephan as he interviews the sharpest economic and technical minds in Bitcoin & Austrian Economics to help you understand how money is changing and evolving. Leading names in the world of Bitcoin join the show to share their insights, whether they are developers, CEOs, economists, authors, analysts and more.
…
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667 에피소드
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1 MEV, Censorship & Why We Need To Save Our Wallets with Matt Corallo | SLP667 1:42:52
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Stephan & Matt discuss the ‘Save Our Wallets’ campaign, which aims to protect non-custodial wallets from regulatory challenges posed by the U.S. government. He highlights the legal risks developers face due to broad interpretations of regulations and the potential consequences of future administrations. The importance of advocacy for legislative change, user engagement, and improving user experience in Bitcoin transactions are emphasized. Additionally, the conversation touches on the implications of AML and FATF regulations, the evolution of wallet technologies, and the need for research into Miner Extractable Value (MEV) in Bitcoin. They also discuss various aspects of Bitcoin and Ethereum, focusing on the implications of MEV (Miner Extractable Value), the risks of mining centralization, and the importance of investing in solutions rather than relying on consensus changes. They explore the challenges posed by private order flow, the philosophical differences in Bitcoin development, and the future of Bitcoin Core and node adoption. Takeaways 🔸The Save Our Wallets campaign aims to protect non-custodial wallets from regulatory overreach. 🔸Legal challenges are arising for developers of non-custodial wallets due to broad interpretations of money service business regulations. 🔸The DOJ's actions against Samurai Wallet highlight the risks for privacy-focused services in the cryptocurrency space. 🔸Future administrations may pose additional risks to non-custodial wallets if laws are not changed. 🔸Advocacy efforts are crucial to push for legislative changes that protect non-custodial wallets. 🔸User engagement is essential for demonstrating public support for non-custodial wallet protections. 🔸AML and FATF regulations create risks for users and developers in the cryptocurrency space. 🔸User experience in Bitcoin transactions remains a significant barrier to adoption. 🔸The development of graduated wallets could improve user experience and security for Bitcoin users. 🔸Research into MEV (Miner Extractable Value) is necessary to understand and mitigate risks in Bitcoin. Investing in solutions is preferable to consensus changes. 🔸MEV is seen as an inevitable challenge in blockchain. 🔸Mining centralization poses significant risks to Bitcoin's future. 🔸Private order flow can lead to worse price execution for users. 🔸Relay policy can nudge users towards better practices. 🔸Philosophical differences exist in Bitcoin development approaches. 🔸Decentralizing block template creation is crucial for Bitcoin's health. 🔸Layer 2 solutions like Lightning are essential for scaling. 🔸Regulatory protection is necessary for non-custodial wallet developers. 🔸The future of Bitcoin Core depends on community engagement and adoption. Timestamps: (00:00) - Intro (00:43) - What is the ‘Save Our Wallets’ campaign? (07:00) - What is the role of FinCEN & DOJ in regulation (10:25) - Save Our walets advocating for legislative changes (20:22) - The importance of CLARITY Act (23:26) - What are the broader implications of AML & FATF regulations? (27:42) - The challenge of bad user experience for onboarding masses to Bitcoin (32:21) - Innovations in Bitcoin wallets; BIP 353 - DNS Payment Instructions (40:36) - Understanding MEVil risks in Bitcoin (48:05) - Mitigating MEVil risks in Bitcoin (59:25) - Mining Centralization and Profitability (1:12:22) - Comparing RBF debates to the current relay policy debates (1:21:48) - Philosophical differences in Bitcoin governance (1:31:11) - Will Bitcoin core remain the dominant implementation? (1:34:00) - Trusted & non-trusted Layer 2 solutions (1:41:40) - Closing thoughts Links: https://x.com/TheBlueMatt https://bluematt.bitcoin.ninja/ https://saveourwallets.org/ https://bitcoinmagazine.com/technical/mevpool-the-best-bandaid-we-have-for-mev Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) Lana by Galoy Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack…

1 Bitcoin Treasury Companies: Risk, Reward & mNAV with Blake Canfield | SLP666 1:17:50
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Blake & Stephan discusses the emerging concept of Bitcoin treasury companies, their role in the debt market, and the potential benefits and risks associated with them. He emphasizes the proactive approach these companies take to bring capital into Bitcoin, the importance of understanding the mechanics behind their operations, and the sustainability of their net asset value (MNAV). The discussion also touches on investment strategies, personal perspectives on risk, and the future of Bitcoin treasury companies in the evolving financial landscape. Takeaways 🔸Bitcoin treasury companies tap into the debt market to bring capital into Bitcoin. 🔸The debt market is a significant opportunity for Bitcoin growth. 🔸Concerns exist regarding the ethos of Bitcoin and the use of debt. 🔸Bitcoin treasury companies can influence governance and attract institutional investors. 🔸The sustainability of mNAV is crucial for the success of these companies. 🔸Different financial instruments can enhance Bitcoin yield for shareholders. 🔸The risk of state capture is a concern for Bitcoin treasury companies. 🔸Investors should consider their personal risk tolerance when investing in these companies. 🔸The potential for Bitcoin treasury companies to onboard new investors is significant. 🔸Understanding the mechanics of these companies is essential for informed investment decisions. Timestamps: (00:00) - Intro (01:08) - Debt market will flow into Bitcoin through treasury companies (04:49) - Parallels between treasury companies and altcoins (07:40) - What are the different approaches to acquire Bitcoin for a company? (12:18) - What is mNAV & why must it be greater than 1? (17:29) - Sustainability of Bitcoin treasury strategies (21:46) - Sponsors (23:35) - Analyzing various Bitcoin treasury companies (29:01) - What is BTC Torque?; Understanding Fiat Convertible Debt (35:37) - Global demand for Bitcoin treasury companies (39:59) - Did GameStop fumble its Bitcoin strategy? (42:12) - Understanding mNAV & Bitcoin Yield (45:00) - Risk vs reward analysis of investing in Bitcoin treasury companies (51:08) - What can go wrong with the treasury companies? (53:37) - Sponsors (59:28) - Can Strategy pay off the interest obligations of their preferred stocks? (1:01:19) - What are the biggest risks for a Bitcoin treasury company? (1:02:28) - Thesis for rotating profits from treasury companies into Bitcoin; Tax (in)efficiency models (1:09:55) - What is the future of Bitcoin treasury companies? (1:13:05) - Closing thoughts Links: https://x.com/LogicalBitcoinr Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) Lana by Galoy Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack…

1 Your Financial Data Can Be Weaponized Against You with Lyudmyla Kozlovska | SLP665 36:27
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Lyudmyla Kozlovska, President, Open Dialogue Foundation discusses the intersection of Bitcoin, human rights, and the weaponization of financial regulations. She highlights the dangers of transnational financial repression, where authoritarian regimes exploit financial action task force (FATF) and anti-money laundering (AML) regulations to target individuals and organizations. The discussion emphasizes the need for privacy protection, legislative change, and active advocacy to safeguard civil liberties in the face of increasing surveillance and repression. Takeaways 🔸The FATF and AML regulations can be weaponized against individuals. 🔸Transnational financial repression is a growing concern for activists. 🔸Privacy tools are essential for protecting personal data. 🔸Legislative initiatives are needed to combat financial repression. 🔸Bitcoin can serve as a tool for financial freedom. 🔸Awareness and education are crucial in addressing these issues. 🔸Collaboration among activists and legislators is necessary. 🔸Real-world examples illustrate the impact of financial repression. 🔸Data privacy is increasingly at risk in the digital age. 🔸Active participation from citizens can drive change. Timestamps: (00:00) - Intro (01:30) - Are financial regulations being weaponized? (07:35) - What is Transnational Financial Repression? (12:11) - Sponsors (14:55) - Real-world impacts of financial repression (19:25) - The role of Bitcoin in protecting privacy (24:07) - The abuse of data and importance of data privacy (27:31) - Sponsors (28:36) - What should be the protocol for law enforcement to request financial data? (35:34) - Call to Action for Listeners Links: https://x.com/LyudaKozlovska https://primal.net/profile/npub13ajk3hhvqys2ev4y68jwxywgs8fsdsuk4y5gkzs874jdyrccvf5qak2yd9 Lyuda’s Telegram:@LK2017LK Site / Support ODF: https://en.odfoundation.eu/projects-and-campaigns/combating-financial-exclusion-and-work-of-btc-coalition/ https://x.com/ODFoundation Report on Barlyk Mendygaziyev's case: https://en.odfoundation.eu/a/727011,transnational-repression-against-barlyk-mendygaziyev/ Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) Lana by Galoy Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack…

1 Firefish: borrow against your bitcoin with Igor Neumann | SLP664 57:06
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Igor Neumann, co-founder of Firefish, discusses the innovative approach of their Bitcoin lending platform. Firefish operates as a decentralized marketplace connecting borrowers and lenders, allowing users to leverage their Bitcoin as collateral for loans. Igor explains the unique features of their protocol, the loan terms, user demographics, and the growing interest in Bitcoin collateralized loans. He also addresses the technical aspects of their platform, including liquidation processes and compliance with regulations, while highlighting the evolving landscape of Bitcoin lending in the EU. Takeaways 🔸Firefish is a Czech-based startup focused on Bitcoin-backed loans. 🔸The platform operates as a decentralized marketplace, not a centralized lender. 🔸Borrowers drive the interest rates on loans, creating a unique market dynamic. 🔸Bitcoiners prefer to use their assets as collateral rather than selling them. 🔸The platform has seen increasing interest from SMEs and high net worth individuals. 🔸Firefish's protocol uses multi-signature and oracles for security and efficiency. 🔸Liquidation processes are designed to protect both borrowers and lenders. 🔸The platform provides legal documentation to assist users with bank compliance. 🔸Regulatory changes in the EU are positively impacting Bitcoin adoption. 🔸The market for Bitcoin lending is maturing, with growing institutional interest. Timestamps: (00:00) - Intro (00:54) - What is Firefish? (03:39) - How is Firefish different from other lending protocols/platforms? (06:38) - What are the loan terms on Firefish? (10:33) - The user types and marketplace dynamics (13:40) - Bitcoin adoption among Czech SMEs; Market risks & future predictions (20:34) - Sponsors (21:50) - What is the underlying technology of Firefish? (27:25) - The role of pre-signed transactions (31:44) - Emergency recovery scenario on Firefish (35:48) - Dispute resolution in P2P lending (38:56) - Does Firefish use DLC? (40:46) - Navigating TradFi banking challenges in P2P lending (42:34) - Sponsors (45:40) - What are liquidation premiums on Firefish? (46:38) - The evolving landscape of Bitcoin regulations in EU (50:31) - Is there a growing interest in Bitcoin collateralized loans? (55:47) - Closing thoughts Links: https://firefish.io/ https://x.com/firefish_io Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) Lana by Galoy Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack…

1 Leveraged Bitcoin Equities Over Bitcoin? with Reed Wommack | SLP663 1:10:04
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Reed Wommack shares his journey into Bitcoin, transitioning from a role at Swan Bitcoin to running Groundluxe, a company focused on grounding products. He discusses the evolving landscape of Bitcoin treasury companies, the risks and rewards associated with leveraging debt for investments, and the importance of a long-term perspective in navigating market cycles. Reed also emphasizes the potential for Bitcoin to dominate the equity market and the impact of capital gains tax on investment strategies. He encourages listeners to consider their risk profiles when adopting aggressive investment strategies. Takeaways 🔸Reed's journey into Bitcoin began in 2019, leading to a deep interest in Austrian economics. 🔸He transitioned from working at Swan Bitcoin to running Groundluxe, focusing on grounding products. 🔸Reed discusses the strategy of investing in Bitcoin treasury companies rather than directly in Bitcoin. 🔸He emphasizes the importance of understanding the risks associated with leverage in investments. 🔸Reed believes that Bitcoin treasury companies will play a significant role in the future of finance. 🔸He highlights the need for a long-term perspective when investing in Bitcoin-related companies. 🔸The conversation touches on the impact of capital gains tax on investment strategies. 🔸Reed shares insights on how to navigate market cycles and the importance of cash flow. 🔸He discusses the potential for Bitcoin to become the dominant asset in the equity market. 🔸Reed encourages listeners to consider their risk profiles when adopting aggressive investment strategies. Timestamps: (00:00) - Intro (00:40) - Who is Reed Wommack? (03:47) - Reed’s rationale behind choosing Bitcoin Treasury Companies (09:25) - Is Debt evil? Risk vs reward considerations in Bitcoin investments (13:37) - The mechanics of using ‘leverage on leverage’ (16:20) - Sponsors (19:38) - Is opting for business loans to buy LBEs a good idea? (22:30) - How many LBEs does GroundLuxe own? (25:41) - Progression of a Bitcoin Treasury Company (28:54) - The role of debt in growing GroundLuxe? (32:34) - Loan durations, deleveraging and timing the cycles (38:01) - Will the profits be rolled back into Bitcoin? (40:07) - What is the criteria for selecting a ‘good’ Bitcoin treasury company?; Navigating potential bear cycles (43:28) - Sponsors (50:08) - Reed’s opinion on Preferred Shares - $STRK & $STRF (54:25) - How large can the ‘Bitcoin Treasury Companies’ industry get? (58:22) - Managing risks in Bitcoin investments (1:02:47) - Evaluating Bitcoin investment strategies for different investor profiles (1:08:25) - Closing thoughts Links: https://x.com/ReedWommack Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) Lana by Galoy Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack…

1 How Bitcoin is Disrupting Traditional Financial Products with Zac Townsend | SLP662 56:45
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Stephen and Zac discuss the innovative intersection of Bitcoin and life insurance. They explore how Bitcoin can disrupt traditional life insurance markets, the recent funding successes of Meanwhile, and the unique benefits of Bitcoin-denominated policies. The conversation dives into the mechanics of these policies, the yield generation strategies employed by Meanwhile, and the tax advantages that make them appealing to customers. The episode concludes with insights into the customer experience and the future of Bitcoin in the insurance industry. Takeaways 🔸Bitcoin life insurance represents a significant market disruption. 🔸Recent funding rounds indicate growing institutional interest in Bitcoin. 🔸Life insurance fundamentally aligns with Bitcoin's value proposition. 🔸Bitcoin offers a decentralized store of value for long-term savings. 🔸Traditional life insurance fails in hyperinflationary environments. 🔸Bitcoin policies can provide better purchasing power over time. 🔸The structure of Meanwhile's policies allows for tax-free compounding. 🔸Borrowing against life insurance policies can be tax advantageous. 🔸Beneficiaries receive full payouts regardless of contribution duration. 🔸The future of life insurance may increasingly involve Bitcoin as a settlement layer. We're not calling up our policyholders telling them they should weightlift. 🔸We run our entire business in Bitcoin. 🔸Our audited financials are stated in Bitcoin. 🔸We genuinely don't care about short-term volatility. 🔸We believe Bitcoin will be more valuable in the long term. 🔸Bermuda is a premier offshore place for regulated entities. 🔸We're using AI to create personas for our business. 🔸We're building for a world based on Bitcoin. 🔸We want to have a thousand people where incumbents have a hundred thousand. Building trust takes time and consistency. Timestamps: (00:00) - Intro (01:16) - What is Bitcoin Life Insurance? Who is it for? (03:53) - How will Bitcoin be a disruptive force in insurance? (06:29) - Why is Bitcoin-denominated life insurance better? (10:55) - What is the policy structure & benefits? (14:21) - Where does the yield come from? (20:28) - Sponsors (22:49) - Customer experience, Policy mechanics & Tax advantages (29:54) - Running a Bitcoin-centric insurance company (36:09) - Sponsors (37:30) - What makes Bermuda a hub for Bitcoin innovation? (40:18) - How is Meanwhile leveraging AI for Bitcoin insurance? (42:49) - Expanding Meanwhile’s product offerings (49:17) - Building trust in a volatile market (53:34) - Is Meanwhile looking at stablecoin integration? (55:40) - Closing thoughts Links: https://x.com/meanwhilelife/status/1923006159377547598 https://meanwhile.bm/ https://x.com/ztownsend https://youtu.be/fCo7aNrq1-Q Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) Lana by Galoy Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack…

1 Bitcoin Core OP RETURN and spam explained by a Core Dev with Antoine Poinsot | SLP661 1:26:13
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Stephan and Antoine discuss the complexities surrounding Bitcoin's OP_RETURN functionality and the ongoing debate about spam filtering on the Bitcoin network. They explore the implications of consensus rules, standardness, and the historical context of these discussions. Antoine provides insights into the motivations behind changes in Bitcoin Core's policies and the potential future of Bitcoin as both a currency and a data storage solution. The conversation highlights the urgency of addressing OP_RETURN issues while also considering the broader implications of spam filtering and its impact on Bitcoin's usability and miner centralization. The conversation also touches upon the growth of the UTXO set, the challenges of managing spam, and the philosophical differences between Bitcoin Core and alternative implementations. Takeaways 🔸Bitcoin is defined by its consensus rules. 🔸There are tighter rules for unconfirmed transactions in Bitcoin Core. 🔸Standardness rules help prevent harmful transactions from being relayed. 🔸The OP_RETURN output was standardized to mitigate negative externalities. 🔸Historical context shows little demand for non-standard transactions. 🔸The urgency to fix OP_RETURN issues is debated among developers. 🔸Filters can work in certain contexts but not universally. 🔸Concerns about miner centralization are significant for Bitcoin's future. 🔸Speculating on motivations can detract from logical arguments. 🔸The future of Bitcoin Core depends on adapting to user demand. Miners are incentivized to include all transactions, including spam. 🔸Economic demand drives the use of alternative relay networks. 🔸Filtering transactions may not effectively stop spam propagation. 🔸The UTXO set growth is influenced by various factors, including spam. 🔸Changing Bitcoin's consensus rules can have unintended consequences. 🔸The cat and mouse game of filtering may lead to centralization risks. 🔸Communication between developers and users is crucial for consensus. 🔸The future of OP_RETURN is uncertain and requires community engagement. 🔸Inscriptions and meta-protocols complicate the UTXO set issue. 🔸Bitcoin's core philosophy resists changes that could limit its flexibility. Timestamps: (00:00) - Intro (01:42) - Understanding Consensus & Relay policies in Bitcoin (05:21) - Historical context of standardness Rules in Bitcoin Core (11:05) - Are Bitcoin Core proponents being paid to ‘break’ Bitcoin? (13:42) - Differentiating b/w OP_RETURN PR & the general spam filtering debate (18:34) - Sponsors (22:46) - Is Bitcoin Money or a Data Storage protocol? How do most Core devs view it? (25:36) - Why not raise the OP_RETURN limit to ~150 bytes? (29:02) - How urgent is it to fix the issue? (31:56) - Why not let the node runners choose what they want to relay? (39:03) - Do filters work or do they not? (43:27) - Are concerns about UTXO bloat, miner centralisation, block propagation etc. being overplayed by Core devs? (46:40) - Sponsors (50:30) - Will miners who mine spam be penalised if node runners run knots? (1:00:28) - Is Bitcoin Core serious about stopping UTXO bloat? (1:07:00) - Why did Core not try to stop bare multisig spam? (1:08:58) - Should Bitcoin devs be playing a whackamole game with spammers? (1:18:24) - Summary & Future of OP_RETURN and spam concerns Links: https://x.com/darosior https://x.com/darosior/status/1922682098160111982 https://delvingbitcoin.org/t/addressing-community-concerns-and-objections-regarding-my-recent-proposal-to-relax-bitcoin-cores-standardness-limits-on-op-return-outputs/1697 Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) Lana by Galoy Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack…

1 Bulletproofing Bitcoin: Multi-Institution Custody with Michael Tanguma | SLP660 1:17:12
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In this conversation, Stephan Livera and Michael Tanguma explore the current landscape of Bitcoin, focusing on the challenges of self-custody, the role of custodians, and the emergence of multi-institution custody solutions. They discuss the importance of education in the Bitcoin space, the dynamics of Bitcoin treasury companies, and the unique opportunities for Bitcoin adoption in the Middle East. The conversation emphasizes the need for evolving security measures as Bitcoin adoption increases and the complexities of integrating Bitcoin with traditional finance. Takeaways 🔸The onboarding process for Bitcoin is complex and requires education. 🔸Self-custody is challenging for many individuals, especially those with significant wealth. 🔸Institutional investors often prefer custodial solutions due to perceived security. 🔸Multi-institution custody offers a balance between security and accessibility. 🔸The Bitcoin ecosystem is evolving with new custody solutions to meet market demands. 🔸Education about Bitcoin and custody is crucial for wider adoption. 🔸The perception of Bitcoin's security is influenced by historical events like FTX. 🔸Individuals often conflate self-custody with the need for trusted intermediaries. 🔸The future of Bitcoin custody may involve advanced technologies like Miniscript. 🔸Meeting clients where they are in their understanding of Bitcoin is essential. Nobody kidnaps billionaires for their equity portfolio. 🔸Bitcoin changes the dynamic of theft and kidnappings. 🔸Most people can't think about outperforming Bitcoin. 🔸Liquidity killed all soundness in business unit economics. 🔸Everything is good for Bitcoin, but not for individuals. 🔸Bitcoin is a perfect fit for commodity-rich countries. 🔸Bitcoin is the solution they've been looking for. 🔸We need to be prepared for $250,000 Bitcoin. 🔸Think about security aspects and privacy elements. Timestamps: (00:00) - Intro (01:03) - Where are we currently with Bitcoin adoption?; Growing demand for Bitcoin (03:50) - The evolution of custody solutions (09:05) - Why collaborative custody isn't enough (13:57) - How effective is Miniscript and Timelock for safeguarding Bitcoin? (16:32) - Risks & tradeoffs to consider while self-custodying Bitcoin (20:10) - Sponsors (22:38) - Multisig Vs Multi-Party Computation (MPC) Wallets (28:41) - How does Multi-Institution Custody work?; Security dynamics (35:20) - Is the user really in control of their Bitcoin? (38:09) - Sponsors (42:57) - What are the costs & threshold to custody with Onramp? (45:45) - What is ‘Early Riders’?; Bitcoin is the hurdle rate (57:15) - Are Bitcoin Treasury Companies good for Bitcoin? (1:01:37) - Can treasury companies sustain their mNAV above 1? (1:08:30) - The growing adoption of Bitcoin in the MENA region (1:15:13) - Closing thoughts Links: https://x.com/MTanguma https://x.com/onrampbitcoin https://x.com/early_riders Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) Lana by Galoy Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack…

1 Non-Custodial Bitcoin Lending Explained with Shehzan Maredia | SLP659 1:05:48
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Shehzan Meredia, CEO and founder of Lava, a non-custodial Bitcoin lending platform shares the unique features of Lava, including its focus on security, user experience, and the use of Discreet Log Contracts (DLCs) to provide cryptographic guarantees for borrowers. Shehzan explains the loan process, interest rates, and how Lava differentiates itself from traditional custodial lending platforms. The conversation also touches on the impact of previous lending failures in the crypto space and the importance of transparency and security in lending products. Stephan & Shehzan also explore the diverse use cases for borrowing against Bitcoin, the implications of gas fees, and the changing demographics of Bitcoin users. Takeaways 🔸Lava offers a non-custodial way to borrow against Bitcoin. 🔸Security is a primary focus for Lava's lending platform. 🔸Users can borrow without giving up custody of their Bitcoin. 🔸Lava provides cryptographic guarantees for collateral safety. 🔸The loan process is designed to be seamless and user-friendly. 🔸Interest rates range from 5% to 11%, depending on the loan. 🔸Lava allows loans from $100 to hundreds of millions. 🔸The platform offers zero fee swaps for stablecoins. 🔸DLCs provide a more secure and private lending experience. 🔸Lava aims to prevent the rehypothecation risks seen in previous lending failures. There are clear benefits of using lava for Bitcoin lending. 🔸Traditional finance may begin to offer competitive products in Bitcoin lending. 🔸Lower loan rates are a result of the benefits provided by lava. 🔸Bitcoin is considered the best collateral for loans. 🔸Stablecoins serve as a new payment rail for digital dollars. 🔸Lava has abstracted away gas fees for users. 🔸Borrowing against Bitcoin can facilitate large purchases like homes and cars. 🔸The user base of Bitcoin is often older and more tech-savvy than expected. 🔸DLCs represent a superior technology for Bitcoin loans. 🔸The demand for Bitcoin loans is increasing as Bitcoin becomes a larger part of people's portfolios. 🎟️ First 5 people to email concierge@lava.xyz get a free ticket to #Bitcoin2025 🎟️ Timestamps: (00:00) - Intro (00:49) - What is Lava?; Overview of how Lava works (04:52) - Lending failures from the last Bitcoin cycle (08:21) - Overview of interest rates and loan structures in Lava (10:56) - How does the DLC model work with respect to lending? (17:32) - Lifecycle of a loan and Liquidation process (26:00) - Implications of custodying Bitcoin on hot/cold wallet (28:17) - Comparing Lava with existing lending solutions (34:47) - How will TradFi get involved in Bitcoin lending? (36:39) - Understanding Bitcoin loan rates & evolving market dynamics (42:00) - What is the role of stablecoins in Lava? (47:29) - What are some of the risks & concerns to consider in bitcoin lending? (53:12) - Common use cases for borrowing against Bitcoin (56:57) - How are the demographics of Bitcoin users evolving? (1:00:50) - Are DLCs a technologically superior way to execute Bitcoin loans? Links: https://x.com/MarediaShehzan https://www.lava.xyz/ Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) Lana by Galoy Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack…
At the Tuscany Lightning Summit 2025, we discussed Ark and VTXOs, batching, RGB, DLCs, what constitutes spam on Bitcoin, Bitcoin payments market, miniscript, bitcoin inheritance tools and more. Timestamps: (00:00) - Intro (01:48) - Tiero (09:17) - Alekos Filini (18:40) - Sponsors (20:56) - Anant Tapadia (33:16) - Andi Pitt (44:24) - Sponsors (45:21) - Giacomo Zucco Links: https://x.com/tierotiero https://x.com/ArkLabsHQ https://x.com/giacomozucco https://x.com/planb_network https://x.com/1andipitt https://x.com/egodeathcapital https://x.com/anant_tap https://x.com/bitcoinKeeper_ https://x.com/afilini https://x.com/TwentyTwoHW Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) Lana by Galoy Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack…

1 Bitcoiners, Walk the Walk With Payments! with Rockstar and Di | SLP657 43:34
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Stephan discusses the significance of Bitcoin as money and the concept of monetary maximalism with guests Rockstar Dev and Di from BTC Inc. They explore the current state of Bitcoin as a medium of exchange, the challenges of adoption, and the innovations being introduced, such as the Bolt Card, to facilitate Bitcoin payments. The conversation emphasizes the importance of leading by example in the Bitcoin community and the need for better technology to enhance user experience and drive adoption. Takeaways 🔸Bitcoin is seen as a store of value, but the goal is to use it as a medium of exchange. 🔸BTC Inc. aims to be a Bitcoin adoption company, integrating Bitcoin into their operations. 🔸The Bolt Card is an innovation to simplify Bitcoin payments at events. 🔸Merchants play a crucial role in Bitcoin adoption by offering it as a payment option. 🔸Convenience is a significant factor in whether people choose to use Bitcoin or fiat. 🔸The upcoming Bitcoin conference aims to set a world record for Bitcoin transactions in a single day. 🔸Education is essential for new Bitcoin users to understand the importance of self-custody. 🔸The Bitcoin community must actively showcase its use in real-world transactions. 🔸Technological improvements are necessary for Bitcoin to compete with traditional payment methods. 🔸The future of Bitcoin as a medium of exchange depends on both customer demand and merchant willingness. Timestamps: (00:00) - Intro (01:10) - Bitcoin as money and the idea of monetary maximalism (12:43) - Sponsors (15:07) - How will the Bolt card help fuel Bitcoin adoption through payments? (18:52) - How can one use a Bolt card?; The role of Bitcoin as Medium of Exchange (21:57) - Will vendors in Vegas accept Bitcoin? (33:19) - Sponsors (27:55) - A new world record for Bitcoin-only payments in the making? (34:21) - “Friends don’t let friends use inferior money” (39:29) - Key details and closing thoughts Links: https://x.com/r0ckstardev https://bitcoinmagazine.com/culture/snore-of-value-bitcoins-sleepwalk-towards-stasis https://x.com/thebtcmag https://x.com/TheBitcoinConf Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) Lana by Galoy Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack…

1 Superior Store of Value: Bitcoin vs Real Estate with Leon Wankum | SLP656 1:04:56
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Leon Wankum shares his journey from studying philosophy to becoming a property expert and Bitcoin enthusiast. He discusses the intersection of real estate and Bitcoin, emphasizing the monetary premium in real estate, the impact of the fiat system on property prices, and the social consequences of property investment. Leon differentiates between property speculation and development, highlighting the business aspects of real estate. He also compares investment yields in real estate versus Bitcoin, arguing that Bitcoin offers superior returns and flexibility as a store of value. In this conversation, Stephan and Leon discuss the evolving landscape of investment strategies, particularly the integration of Bitcoin into real estate investments. They explore the barriers that traditional property investors face when considering Bitcoin, the potential benefits of incorporating Bitcoin into investment portfolios, and the future implications for real estate if Bitcoin is not adopted. The discussion emphasizes the importance of understanding Bitcoin as a superior monetary technology and its role in counterbalancing inflation and enhancing financial strategies. Takeaways 🔸Leon Wankum transitioned from philosophy to real estate and Bitcoin. 🔸Bitcoin is seen as a digital store of value competing with real estate. 🔸The monetary premium in real estate is influenced by the fiat system. 🔸Real estate is often used as a hedge against inflation. 🔸Younger generations face challenges entering the property market. 🔸Speculation in real estate is driven by low interest rates. 🔸Real estate development is a business, not just speculation. 🔸Bitcoin offers more freedom and flexibility than real estate. 🔸Investment yields in Bitcoin outperform those in real estate. 🔸The future of real estate may shift towards Bitcoin as a primary asset. Bitcoin is increasingly seen as a better store of value than real estate. 🔸Many real estate investors are hesitant to adopt Bitcoin due to familiarity with traditional investments. 🔸The COVID-19 pandemic shifted perceptions about real estate and Bitcoin. 🔸Investors are beginning to recognize Bitcoin's potential as a monetary technology. 🔸Real estate is often viewed as a financial asset rather than a design object. 🔸Incorporating Bitcoin into investment strategies can provide a competitive edge. 🔸Using Bitcoin as a treasury asset can enhance cash flow management. 🔸Refinancing properties to invest in Bitcoin is a viable strategy for some investors. 🔸The future of real estate may involve a significant shift towards digital assets like Bitcoin. 🔸Understanding Bitcoin's role in the economy is crucial for future investment success. Timestamps: (00:00) - Intro (00:56) - Who is Leon Wankum?; Bitcoin & real estate journey (04:35) - Why is monetary premium baked into real estate prices around the world? (10:53) - What are the social consequences of property investment? (14:55) - Is the value of real estate driven by debasement of local currency? (17:07) - Sponsors (20:44) - Leveraged speculator vs Property developer (29:38) - Overview of Rental yield in Germany & US; The boon of Bitcoin (35:09) - What is the common pushback from real estate investors against Bitcoin? (40:54) - Convergence between Real estate & Bitcoin investors (42:37) - Are people considering leveraging property to buy Bitcoin? (44:20) - Sponsors (50:10) - How can real estate investors incorporate Bitcoin into their investments? (58:47) - What will be the future of real estate businesses without Bitcoin? (1:04:20) - Closing thoughts Links: https://x.com/leonwankum https://www.digitalrealestate.org/ https://leonwankum.substack.com/p/from-real-estate-to-bitcoin-redefining-how-humanity-saves-and-lives Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) Lana by Galoy Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack…
Stephan & NVK discuss the current state of self-custody in Bitcoin, highlighting the advancements in hardware wallets like Coldcard and the importance of understanding trade-offs in wallet solutions. Coldcard introduces new features such as co-signing and key teleport, which enhance security and usability. The conversation also touches on the future of wallet software, including the promising Cove Wallet and the potential of Miniscript in Bitcoin transactions. NVK also highlights the significance of seed phrases in Bitcoin custody, critiques the current OP_Return dynamics and GitHub moderation, and reflects on the implications of BitVM and Layer 2 solutions. Takeaways 🔸Self-custody is becoming more accessible and user-friendly. 🔸The importance of understanding trade-offs in wallet solutions is crucial. 🔸Coldcard's new features enhance security and usability. 🔸Key teleport allows secure sharing of private keys remotely. 🔸Cove Wallet is a promising new tool for onboarding users. 🔸Miniscript is still in early development but shows potential. 🔸Collaborative multi-sig setups can improve security for users. 🔸Education on self-custody is essential for new Bitcoiners. 🔸The sovereign aspect of Bitcoin is a significant advantage. 🔸Continuous innovation in wallet technology is necessary for the future. Sparrow is a robust wallet with advanced features. 🔸Self-custody is crucial for Bitcoin users. 🔸Seed phrases provide a powerful recovery method. 🔸The OP_Return debate highlights governance challenges. 🔸BitVM introduces new dynamics for Layer 2 solutions. 🔸Competition among Bitcoin implementations is healthy. 🔸Moderation on GitHub needs improvement. 🔸Community engagement is essential for Bitcoin's future. 🔸The UTXO set's pollution is a complex issue. 🔸OpenSAT aims to fund valuable Bitcoin projects. Timestamps: (00:00) - Intro (01:01) - Where are we with Bitcoin self-custody as of today? (04:52) - What are the tradeoffs to consider while choosing a Bitcoin wallet? (07:53) - Inheritance planning in Bitcoin with miniscript (11:50) - The impetus to self-custodying Bitcoin (14:23) - What is co-signing in @coldcardwallet? (17:46) - Who is the co-signing feature for? (23:00) - What is Key Teleport? How does it work? (28:51) - Does Coldcard support Miniscript? (33:50) - What is @covewallet?; Bitcoin wallet projects (40:38) - The importance of seed phrases (44:40) - NVK’s thoughts on the OP_Return controversy (57:03) - The impact of BitVM & Layer 2 Solutions (1:00:39) - Various implementations of Bitcoin software Links: https://x.com/nvk https://x.com/covewallet Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) Lana by Galoy Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack…

1 Bitcoin vs Gold: The Future of Monetary Assets with Vijay Boyapati | SLP654 1:15:06
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Stephan & Vijay discuss the current state of Bitcoin, its market cycle, and its comparison with gold. They explore the implications of geopolitical factors on gold and Bitcoin, the rise of Bitcoin treasury companies, and the evolving liquidity channels in the market. The discussion also touches on speculation in Bitcoin and how it contributes to its growth, while emphasizing the importance of understanding the underlying economic theories. They also explore the evolving landscape of Bitcoin, the implications of MNAV (Market Net Asset Value) in the context of Bitcoin companies, and the transformative potential of AI on the economy. AI could lead to hyperabundance, affecting various sectors and potentially changing the role of money. The conversation also touches on the risks posed by quantum computing to Bitcoin's security and the need for proactive measures in the Bitcoin community. Takeaways 🔸We're still early in this cycle. 🔸Understanding causality in economics is crucial. 🔸Bitcoin is decorrelating from the stock market and coupling with gold. 🔸Gold is part of a larger macroeconomic story. 🔸Bitcoin is better than gold in many aspects. 🔸Liquidity channels to Bitcoin are larger than ever before. 🔸Speculation around Bitcoin can be beneficial for its growth. 🔸Degenerate gambling in Bitcoin can enhance its liquidity. 🔸The FOMO moment for Bitcoin could lead to significant price increases. 🔸We're currently in the third inning of the Bitcoin bull market. Bitcoin is evolving as a monetary asset. 🔸MNAV dynamics will fluctuate with market cycles. 🔸AI could revolutionize productivity and economic structures. 🔸Hyperabundance may lead to deflationary pressures. 🔸Debt may become less of an issue in an AI-driven economy. 🔸AI's impact on knowledge work will be profound. 🔸The future of work will involve significant job displacement. 🔸Quantum computing poses a real threat to Bitcoin's security. 🔸Individuals may soon replicate corporate Bitcoin strategies. 🔸The rapid advancement of AI is reshaping various industries. Timestamps: (00:00) - Intro (01:44) - Where are we currently in the Bitcoin cycle? (06:47) - Bitcoin’s correlation with Gold (09:52) - The breaking down of Bretton Woods system (12:35) - Will Gold outperform the debasement of the dollar?; The Bitcoin story (16:27) - Sponsors (18:57) - Will Bitcoin drain capital out of other assets? (24:53) - The rise of Bitcoin ETFs & Treasury Companies (34:33) - Are Bitcoin Treasury companies the new levered bitcoin play? (39:56) - The significance of mNAV in Leveraged Bitcoin Equities (49:39) - How will the rise of AI impact society? (59:27) - Sponsors (1:01:15) - AI rewriting the future socio-economic structures; Will Bitcoin be the currency of AI? (1:14:01) - Quantum Computing & Bitcoin's future risks Links: https://x.com/real_vijay Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) Lana by Galoy Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack…
At Bitcoin Oasis 2025, we discussed Bitcoin tools & innovation, bitcoin cycles, financialization of bitcoin, adoption in the MENA region and India’s first bitcoin treasury company. Timestamps: (00:00) - Intro (00:57) - Preston Pysh (12:47) - Sponsors (15:03) - Sooly Kobayashi (21:49) - Max Hillebrand (28:46) - Sponsors(29:43) - Siddarth Bharwani (40:07) - Lara Eggiman Links: https://bitcoin-oasis.com/ https://x.com/BTCArabiaLtd https://x.com/PrestonPysh https://primal.net/sooly https://primal.net/p/nprofile1qqst0mtgkp3du662ztj3l4fgts0purksu5fgek5n4vgmg9gt2hkn9lqv6g2cl https://x.com/sidbharwani https://x.com/SwissAlice1 Sponsors: Bold Bitcoin CoinKite.com (code LIVERA) Lana by Galoy Stephan Livera links: Follow me on X: @stephanlivera Subscribe to the podcast Subscribe to Substack…
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