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Against many challenges, Bitcoin, the worlds first true cryptocurrency has survived for over a decade. With What Bitcoin Did, podcast host Peter McCormack talks to experts in the world of Bitcoin. From developers to investors, journalists to Bitcoin company CEOs, you will learn about everything that is happening in the world of Bitcoin.

The What Bitcoin Did Podcast Peter McCormack

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Against many challenges, Bitcoin, the worlds first true cryptocurrency has survived for over a decade. With What Bitcoin Did, podcast host Peter McCormack talks to experts in the world of Bitcoin. From developers to investors, journalists to Bitcoin company CEOs, you will learn about everything that is happening in the world of Bitcoin.

    The Beginner’s Guide to Bitcoin Part 7: Bitcoin's Monetary Policy with Dan Held

    The Beginner’s Guide to Bitcoin Part 7: Bitcoin's Monetary Policy with Dan Held

    Location: SkypeDate: Wednesday, 22nd January Project: KrakenRole: Head of Business Development
    Welcome to the Beginner's Guide to Bitcoin.
    Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.
    Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.
    The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.
    Beginners Guide Part 7 - Bitcoin's Monetary Policy with Dan Held
    In our current economic system, currency is issued by the central banks. As fiat (government-issued money) is no longer backed by gold or any other scarce asset these central banks are able to print, or issue money at will.
    As more and more money is printed and enters circulation, the money you hold in your bank account becomes a smaller percentage of the total supply and therefore loses value. This by de-facto promotes spending rather than saving and by many, is seen as a flaw in the financial system.
    When Satoshi released the Bitcoin protocol, it offered an alternative to this system: scarce digital money. Satoshi gave Bitcoin a fixed supply of 21 million Bitcoins. He also designed an issuance schedule of 50BTC every ~10 minutes which is cut in half every 210,000 blocks (~4 years).
    The exact number of the total supply of Bitcoin is not important and it doesn’t matter that the issuance schedule is designed exactly as it is, what is crucial is that this monetary policy can’t be changed.
    These rules are part of the Bitcoin protocol and can not be amended or changed without a hard fork. Social consensus for a change like this would almost certainly never happen and Bitcoiners can be confident that their Bitcoin holdings will not lose value to do inflation.
    In Part 7 of the Bitcoin Beginner’s Guide, I talk to Dan Held Bitcoin OG and Director of Business Development at Kraken to look at Bitcoin’s monetary policy. We discuss how the economy works, the 21 million hard cap, the release schedule and block rewards.
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    Connect with Dan:- On Twitter- On LinkedIn- On Crunchbase- On Medium- On AngelList- His Website
    Mentioned in the interview:- The Bitcoin Whitepaper- Monetary Base- Capitalist vs. Socialist Economies: What's The Difference?- Flexible fiscal and monetary policy- Austrian Economics- Keynesian Economics- Clark Moody’s Bitcoin Charts & Tools- Modeling Bitcoin's Value with Scarcity by PlanB- Controlled Supply- Bitcoin consensus rules- Transactions- The difficulty adjustment- Information Theory of Money by Dan Held- Quantum Narratives by Dan Held- Planting Bitcoin by Dan Held- Planting Bitcoin — Species (1/4) by Dan Held- Planting Bitcoin — Season (2/4) by Dan Held- Planting Bitcoin — Soil (3/4) by Dan Held- Planting Bitcoin — Gardening (4/4) by Dan Held
    Other relevant WBD podcasts:- WBD187: The Beginner’s Guide to Bitcoin Part 6: How Bitcoin Works with Shinobi- WBD186: The Beginner’s Guide to Bitcoin Part 5: The History of Bitcoin with Marty Bent- WBD185: The Beginner’s Guide to Bitcoin Part 4: What is Bitcoin with Stephan Livera- WBD184: The Beginner’s Guide to Bitcoin Part 3: Bitcoin's Pre-History and the Cypherpunks with Aaron van Wirdum- WBD183: The Beginner’s Guide to Bitcoin Part 2: What Is Money with Parker Lewis- WBD182: The Beginner’s Guide to Bitcoin Part 1: Andreas M. Antonopoulos on Why

    The Beginner’s Guide to Bitcoin Part 6: How Bitcoin Works with Shinobi

    The Beginner’s Guide to Bitcoin Part 6: How Bitcoin Works with Shinobi

    Location: SkypeDate: Friday, 17th January Project: Block DigestRole: Host
    Welcome to the Beginner's Guide to Bitcoin.
    Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.
    Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.
    The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.
    Beginners Guide Part 6 - How Bitcoin Works with Shinobi
    As a newcomer to Bitcoin, you can begin using the network without understanding the protocol. While in the early days Bitcoin required a level of technical knowledge, there is now a plethora of companies creating products which abstract this away.
    As Bitcoin is such a unique form of money, you should invest time in understanding some of the more complicated aspects such as how the protocol works. While there are good wallets which will take care of validating transactions for you, by operating a node, you can become fully self-sovereign by validating your transactions.
    The Bitcoin protocol is complicated, so in this episode, we give you an introduction and overview of how it works:- Supply - Bitcoin has a fixed supply of 21 million coins and a fixed supply issuance. Starting at 50BTC per block this reward is cut in half every 210,000 blocks (or ~every four years).- UTXOs - an Unspent Transaction Output which is used as an input for a new transaction.- Open-source - openly available source code that anyone can access allowing anyone to review and contribute to the code.- Consensus rules - the rules that full nodes must follow to be in agreement with all other nodes on the state of the blockchain- Full Node - a program that verifies and validates all transactions and blocks for the entire history of the Bitcoin blockchain- Mining - the process of adding transactions to the Bitcoin ledger and securing the network. Miners create blocks by spending energy in what is known as proof of work.- The difficulty adjustment - this alters every 2016 blocks (~2 weeks) based on the time it took to mine the previous 2016 blocks, which is how the network can maintain a ~10 minute block time.
    In Part 6 of the Bitcoin Beginner’s Guide, I am joined by Shinobi, host of Block Digest. In this episode, we are looking at how the Bitcoin protocol works. We discuss the supply & halvings, transactions & UTXOs, consensus rules, mining and nodes.
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    Connect with Shinobi:- On Twitter- On Medium- bitcoinshirt.co
    Connect with Block Digest- On Twitter- On YouTube
    Mentioned in the interview:- What Bitcoin Did Open Conversation with Shinobi- The Bitcoin Whitepaper- Bitcoin genesis block- Bitcoin Core- Controlled Supply- Unspent transaction outputs - UTXOs- Open-source software- Bitcoin consensus rules- Transactions- Full Node- Mining- The difficulty adjustment- Is Bitcoin Headed for a Break in Fungibility?- CoinJoin- Bitcoin Fibre
    Other relevant WBD podcasts:- WBD186: The Beginner’s Guide to Bitcoin Part 5: The History of Bitcoin with Marty Bent- WBD185: The Beginner’s Guide to Bitcoin Part 4: What is Bitcoin with Stephan Livera- WBD184: The Beginner’s Guide to Bitcoin Part 3: Bitcoin's Pre-History and the Cypherpunks with Aaron van Wirdum- WBD183: The Beginner’s Guide to Bitcoin Part 2: What Is Money with Parker Lewis- WBD182: The Beginner’s Guide to Bitcoin Part 1: Andreas M. An

    The Beginner’s Guide to Bitcoin Part 5: The History of Bitcoin with Marty Bent

    The Beginner’s Guide to Bitcoin Part 5: The History of Bitcoin with Marty Bent

    Location: SkypeDate: Wednesday, 15th January Project: Tales from the Crypt & Rabbit Hole Recap Role: Host
    Welcome to the Beginner's Guide to Bitcoin.
    Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.
    Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.
    The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.
    Beginners Guide Part 5 - The History of Bitcoin with Marty Bent
    On October 31st 2008 Satoshi published the Bitcoin Whitepaper on a little known cryptography mailing list. There had previously been many attempts at digital cash, so when the whitepaper was released, it was met with a healthy amount of scepticism.
    A few months later on January 3rd 2009 Satoshi Nakamoto mined the genesis block and included the message “Chancellor on brink of second bailout for banks”. The message was important and indicated Satoshi’s plan for a new financial system.
    In the 11 years that have passed Bitcoin has gone from a niche experiment to a network worth over $160 billion, but the history has been rollercoaster.
    Anyone new coming into Bitcoin is likely to hear about critical points in history, and these events helped define Bitcoin and at times teach valuable lessons.- January 12th 2009 - The first Bitcoin transaction between Satoshi Nakamoto and Hal Finney- March 2010 - bitcoinmarket.com started operating as the first Bitcoin exchange- May 22nd 2010 - Lazlo Hanyecz pays 10,000BTC for 2 pizzas- November 27th 2010 - SlushPool becomes the first Bitcoin mining pool- February 2011 - The Silk Road opens, utilising Bitcoin as its currency- April 26th 2011 - Bitcoin creator Satoshi Nakamoto leaves Bitcoin in the hands of Gavin Andreson- June 14th 2011 - Wikileaks starts accepting donations in Bitcoin. Visa and Mastercard & ban payments and PayPal freeze their accounts- April 24th 2012 - Erik Voorhees launches Satoshi Dice a Bitcoin betting game- June 20th 2012 - Coinbase founded- November 27th 2013 - Bitcoin Reaches $1,000- January 26th 2014 - Charlie Shrem, CEO of BitInstant, is arrested. Charlie eventually pleaded guilty to aiding and abetting the operation of an unlicensed money transmitting business. He was sentenced to two years in prison- February 7th 2014 - Mt. Gox, the largest Bitcoin exchange at the time, halted withdrawals after a security breach. On - February 24th 2014 the exchange went offline with 744,408 Bitcoin stolen.- July 2014 - GHash exceeded 51% of the hash rate- July 17th 2014 - The New York BitLicense is proposed to place regulations on any company or person that uses cryptocurrencies residing in New York.- January 14th 2016 - Joseph Poon and Thaddeus Dryja release the Lightning Network Whitepaper- 2016 - 2017 - The scaling war. The community were divided between Segregated Witness and/or bigger block sizes as a way of reducing congestion on the blockchain. This culminated on August 1st with the BCash fork.- December 17th 2017 - Bitcoin reaches its all-time high of $20,000- December 18th 2017 - CME launches Bitcoin futures contract- March 15th 2018 - Elizabeth Stark announces the initial release of lnd 0.4-beta for developers- July 12th 2019 - Donald Trump tweets about Bitcoin
    In Part 5 of The Beginner’s Guide to Bitcoin, I talk to Marty Bent the host of Tales from the Crypt &

    The Beginner’s Guide to Bitcoin Part 4: What is Bitcoin with Stephan Livera

    The Beginner’s Guide to Bitcoin Part 4: What is Bitcoin with Stephan Livera

    Location: SkypeDate: Tuesday, 14th January Project: The Stephan Livera PodcastRole: Host
    Welcome to the Beginner's Guide to Bitcoin.
    Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.
    Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.
    The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.
    Beginners Guide Part 4 - What is Bitcoin with Stephan Livera
    Despite being considered a high-risk asset, there are many reasons why people continue to buy Bitcoin. For some, Bitcoin is a speculative tool, for others, it is a means of payment, and for some, it is a hedge against local fiat currency risk and hyperinflation.
    It is the unique features of Bitcoin, which is driving adoption, and it is the growth in adoption, which is driving speculation. One key feature of Bitcoin is that it is censorship-resistant, this means that anyone can send anyone else a payment which no third party can block. This was important to Wikileaks when PayPal froze their account and Visa and Mastercard stopped processing payments. Bitcoin became a lifeline for Wikileaks.
    The key features of Bitcoin are open to everyone. With a smartphone and an internet connection, anyone can enter this new financial system without requiring permission from the government or an account with a bank. How is this possible? Because Bitcoin is decentralised.
    So what makes Bitcoin censorship resistant? What is decentralisation, and why does it matter? And why are trusted third parties security holes?
    In Part 4 of The Bitcoin Beginner’s Guide, I ask fellow podcaster Stephan Livera, what is Bitcoin? We discuss how Bitcoin works, its key features such as decentralisation and censorship resistance and the reasons why people might want to own it.
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    Connect with Stephan:- On Twitter- On stephanlivera.com- On ministryofnodes.com.au
    Mentioned in the interview:- Bitcoin Core- Bitcoin GitHub- What is hard money?- Running a full node- What are Bitcoin nodes and why do we need them?- Blockchain- SHA-256- Hash function- Mining- Bitcoin IRC channels- The Halving- The Bitcoin Whitepaper
    Other relevant WBD podcasts:- WBD184: The Beginner’s Guide to Bitcoin Part 3: Bitcoin's Pre-History and the Cypherpunks with Aaron van Wirdum- WBD183: The Beginner’s Guide to Bitcoin Part 2: What Is Money with Parker Lewis- WBD182: The Beginner’s Guide to Bitcoin Part 1: Andreas M. Antonopoulos on Why We Need Bitcoin- WBD141: Stephan Livera on Austrian Economics, Libertarianism and Bitcoin- WBD127: Saifedean Ammous on Understanding Bitcoin Economics
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    The Beginner’s Guide to Bitcoin Part 3: Bitcoin's Pre-History and the Cypherpunks with Aaron van Wirdum

    The Beginner’s Guide to Bitcoin Part 3: Bitcoin's Pre-History and the Cypherpunks with Aaron van Wirdum

    Location: SkypeDate: Thursday, 9th January Project: Bitcoin Magazine Role: Technical Editor
    Welcome to the Beginner's Guide to Bitcoin.
    Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.
    Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.
    The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.
    Beginners Guide Part 3 - Aaron van Wirdum on Bitcoin's Pre-History and the Cypherpunks
    Founded by Eric Hughes, Tim May and John Gilmore the cypherpunks were a group of hackers, privacy enthusiasts and crypto-anarchists. The group consisted of some of the most prominent cryptographers including Phil Zimmermann, Adam Back, Nick Szabo and Hal Finney.
    The cypherpunks had its factions; some focussed on privacy tools, others on encryption and some on building decentralised monetary systems. It was on the cypherpunk mailing list and during their meetups that the building blocks of Bitcoin were born.
    On October 31st 2008, Satoshi Nakamoto emailed the cypherpunk mailing list, telling them "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party." In the 11 years that followed Bitcoin has proven to be the most successful attempt at creating a censorship-resistant and trust minimised digital currency.
    Each previous attempt at creating a form of digital money had solved parts of the puzzle, but Satoshi was able to put these pieces together along with his innovations to create Bitcoin. The previous attempts included:- In the 1990's eCash, headed by David Chaum, attempted to make online payments anonymous.- In 1997 Adam Back created HashCash, a proof-of-work system to reduce email spam and prevent denial of service attacks.- In 1998 Wei Dai proposed B-money to allow for an "anonymous, distributed electronic cash system".- Around the same time, Nick Szabo proposed Bit Gold where unforgettable proof of work chains would share properties of gold: scarce, valuable and trust minimised but with the benefit of being easily transactable.- In 2004 Hal Finney built upon the idea of Hashcash and created Reusable Proofs of Work.
    When Satoshi released the Bitcoin whitepaper, rather than a revolution, Bitcoin was an evolution of all that had come before it with Bitcoin being the most trust minimised, censorship-resistant and hardest currency that has ever existed.
    In Part 3 of The Bitcoin Beginner's Guide, I talk to Aaron van Wirdum, a journalist and Technical Editor at Bitcoin Magazine. Aaron explains the cypherpunk movement and the digital money projects which paved the way for Bitcoin.
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    Connect with Aaron:- On Twitter- On LinkedIn- At Bitcoin Magazine- De Bitcoin Show
    Mentioned in the interview:- The Genesis Files: With Bit Gold, Szabo Was Inches Away From Inventing Bitcoin- The Genesis Files: If Bitcoin Had a First Draft, Wei Dai’s B-Money Was It- The Genesis Files: Hashcash or How Adam Back Designed Bitcoin’s Motor Block- The Genesis Files: How David Chaum’s eCash Spawned a Cypherpunk Dream- DigiCash- Bit Gold- B-money- Pretty Good Privacy- Tor- Julian Assange- Wikileaks- The Halving- The Bitcoin Whitepaper
    Other relevant WBD podcasts:- WBD183: The Beginner’s Guide to Bitcoin Part 2: What Is Money with Parker Lewis- WBD182: The Beginner’s Guide to Bitcoin

    The Beginner’s Guide to Bitcoin Part 2: What Is Money with Parker Lewis

    The Beginner’s Guide to Bitcoin Part 2: What Is Money with Parker Lewis

    Location: SkypeDate: Monday, 6th JanuaryProject: Unchained CapitalRole: Head of Business Development
    Welcome to The Beginner's Guide to Bitcoin
    Bitcoin can be intimidating for beginners. The protocol is complicated, the community can be aggressive and unforgiving, silly mistakes can lose you money, and it is easy to succumb to altcoin marketing.
    Bitcoin does though, offer you the opportunity to hold a new type of monetary asset, one which can't be seized by the government and is censorship resistance and It has the potential to change the way the world.
    The goal of What Bitcoin Did has always been about making things simple; there are no stupid questions, and the show is here to help beginners navigate this new world. To kick off 2020, we are launching a special series to help beginners understand Bitcoin. We will be looking at the basics from breaking down the protocol to explaining the economics and discussing the potential societal shift.
    Part 2 - What is Money with Parker Lewis
    As the old adage says: money makes the world go round, but why? Money allows for free trade between people, solving the double coincidence of wants problem.
    To facilitate trade, early money took many forms: from Rai stones to salt to shells. The characteristics of base metals quickly led them to become the dominant form of money once introduced, with gold being the most valued.
    In the 1800s, both the UK and the US, as well as many other countries, implemented a gold standard, allowing banks to issue paper money to represent the gold that they held in reserve. The gold standard maintained gold as a hard currency but with paper bills solving the problem of transporting heavy bullion and divisibility.
    In the 1930s, during the depression, the US government devalued gold and made it illegal to own privately. In 1931 the UK abandoned the gold standard, and in 1971 the US severed any remaining ties to it. This marked the beginning of the current era of money.
    Whereas gold has the characteristics of sound money - it is durable, divisible, fungible and scarce, the new fiat monetary system didn’t and therefore was open to abuse by government. With its infinite supply, it misses the key characteristics of sound money, scarcity and cost of production.
    Bitcoin has all the characteristics of sound money; however, in one key area, it far exceeds gold - transferability. In a digital age, Bitcoin is sound money that can be sent over the internet and has the potential to change the nature of money for everyone.
    In part 2 of The Bitcoin Beginner’s Guide, I talk to Parker Lewis head of business development at Unchained Capital. Parker answers the question, what is money? We also discuss the history of money and the characteristics of sound money.
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    Glossary- Block time - A block that contains Bitcoin transactions is produced on average every 10 minutes.- Block reward - Each time a miner solves a block they receive a block reward. Currently 12.5 BTC- Halving - Every 4 years the block reward halves. The next halving is due in May 2020- Fungibility - The ability to divide something and each of its parts is indistinguishable from another part.- Stock to Flow - The ratio between the current supply and the production of new supply- Gold standard - When the central banks issued paper money to represent the gold that they held in reserve.
    Connect with Parker:- On Twitter- His blog posts
    Connect with Unchained Capital- On Twitter- Their Website
    Mentioned in the interview:- Venezuela’s Hyperinflation Drags On For A Near Record—36 Months- Argentina's Peso, Nothing But Trouble- Bitcoin’s Stock to Flow- The Bitcoin Standard- Modeling Bitcoin's Value with Scarcity by Plan₿- Hyperinflation in Germany- Hyperinflation in Zimbabwe- Hyperinflation in Venezuela- The Halving- The Bitcoin Whitepaper- The Bullish Case for Bitcoin by Vijay Boyapati- Hayek - The Road to Serfdo

Klantrecensies

MattFromDownUnder ,

High quality interviews!

Nicely cover all spectrums including criticisms. Great podcast!

Chief SBO ,

Ace!

Peter has a very thorough way of interviewing his guests. He’s on a quest for more knowledge about bitcoin and other related crypto subjects. The variety of topics range from botcoin, economic/financial monetary system, opsec, companies in the crypto scene and more!

Meksels ,

Great

One of the best crypto podcasts

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