24. Why bitcoin's price matters, and Bitcoin as a settlement network

January 06, 2021 01:05:57
24. Why bitcoin's price matters, and Bitcoin as a settlement network
The Bitcoin Standard Podcast
24. Why bitcoin's price matters, and Bitcoin as a settlement network

Jan 06 2021 | 01:05:57

/

Show Notes

In today's seminar, we discuss why bitcoin's price matters, what bitcoin skeptics get wrong about it, and what it means to the success of the network. We also discuss the US Office of the Comptroller of the Currency's new guidance allowing banks to use public blockchains as settlement infrastructure, and how it agrees with The Bitcoin Standard's thesis.

 

THE BITCOIN STANDARD TOOLKIT

The Bitcoin Standard Toolkit is a selection of the Bitcoin services I recommend to readers and learners on saifedean.com, as they upgrade from The Fiat Standard to The Bitcoin Standard.

NYDIG  

NYDIG is a leading full-service financial services firm dedicated to Bitcoin, applying institutional wisdom and ingenuity to help clients access the unrealized potential of this emerging asset class. NYDIG offers the full suite of financial solutions needed for financial institutions to access Bitcoin, from custody, execution, financing, treasury solutions, integration partnerships, and more.

Check their website here: https://nydig.com/

==================

Cyphersafe 

To secure your bitcoins, it is important to keep your seedphrase backed up safely, and for that, I highly recommend using the CypherWheel seed storage device, a gorgeous and brilliant sturdy piece of low time preference engineering from a fourth-generation machine shop in Maine.

Check their website here: https://cyphersafe.io/

==================

OKCoin

Whenever someone asks me how to invest in Bitcoin, my advice is to accumulate bitcoins periodically for the long run, or dollar-cost averaging. When you buy every day, week, or month, you play bitcoin’s volatility to your advantage. In the long run, this strategy will outperform every other bitcoin investment strategy, except for dumb luck, and lying about timing the market. For dollar-cost averaging, I strongly recommend OKCoin, the exchange with the lowest fees for recurring purchases worldwide. OKCoin is also the bitcoin exchange accessible in the most countries around the world.

Check their website here: https://okcoin.com/

==================

Nodl

I believe it is really important to run a node, but I don’t recommend running it on your work or personal computer, as it can compromise the performance of your computer and, more importantly, the security and privacy of your bitcoin node. A far better solution is to buy a dedicated hardware node, and for that, I highly recommend Nodl.

Check their website here: https://www.nodl.it/

==================

Coldcard

My hardware wallet of choice is the Coldcard. I strongly recommend only conducing bitcoin trades on computers that are dedicated to bitcoin and cannot connect to the internet. I like the Coldcard because it is a contained machine optimized for bitcoin and bitcoin only.

Coldcard is basically a small computer that can only do bitcoin, which makes securing it more straight-forward. Use the code BITCOINSTANDARD on coldcardwallet.com to get a 5% discount. 

Check their website here: https://coldcardwallet.com/

Other Episodes

Episode 0

September 09, 2019 00:44:46
Episode Cover

The Bitcoin Standard Podcast Presents Saifedean Ammous Interview on The Investor's Podcast Network

In this episode, you'll learn:· Why a higher demand for Bitcoin indirectly makes the currency more secure and in turn a better store of...

Listen

Episode 0

May 27, 2021 01:22:33
Episode Cover

59. Bitcoin: The Most Islamic Form of Money? with Harris Irfan

In today’s episode Saifedean talks to former investment banker and author of Heaven’s Bankers, Harris Irfan. They discuss Harris’ decades of experiences in Islamic...

Listen

Episode 0

April 11, 2021 00:39:08
Episode Cover

Guest Episode on Tom Woods Show: Bitcoin, Present and Future

I joined Tom Woods to discuss current trends in Bitcoin, whether it’s in a “bubble,” what its advantages are, what the future may hold,...

Listen