61. Why bitcoin can’t be controlled by councils

June 10, 2021 01:17:24
61. Why bitcoin can’t be controlled by councils
The Bitcoin Standard Podcast
61. Why bitcoin can’t be controlled by councils

Jun 10 2021 | 01:17:24

/

Show Notes

In today’s seminar Saifedean talks to regular seminar attendees about the Bitcoin Mining Council: a recently formed group of North American bitcoin miners that aims to “promote energy usage transparency [and] accelerate sustainability initiatives worldwide.” They discuss why centralized attempts to alter bitcoin are unlikely to succeed without broad community consensus, what we can learn from the proposed SegWit2x software upgrade of 2017, and why the claims of some popular green energy initiatives are dubious.

Related Texts:

Article on establishment of Bitcoin Mining Council: https://www.newsbytesapp.com/news/business/musk-s-bitcoin-mining-council-promises-sustainability/story

The Blocksize War by Jonathan Bier: https://blog.bitmex.com/the-blocksize-war-chapter-1-first-strike/

 

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 03, 2021 01:49:58
Episode Cover

80. Government Funding of Science with Terence Kealey

In this episode Saifedean talks to Dr Terence Kealey, adjunct scholar at The Cato Institute, about government funding of science. They discuss the history...

Listen

Episode 0

June 23, 2019 00:23:52
Episode Cover

The Bitcoin Standard Presents Saifedean Ammous TOKEN2049 Hong Kong

13 March 2019 Saifedean Ammous - Author and Economist As bitcoin enters its tenth year, Saifedean Ammous examines the unique economic properties of bitcoin,...

Listen

Episode 0

December 21, 2020 00:29:30
Episode Cover

The Fiat Standard - Chapter 1 Read by Guy Swann

The Fiat Standard - Chapter 1 Read by Guy Swann"For the reader who has become familiar with the operation of bitcoin, a good way...

Listen