Bitcoin Dad Pod The Bitcoin Dad

Chris and the bitcoin dad are taking a hiatus to consider the direction of the podcast and the new challenges and opportunities for bitcoin after 15 years of bitcoin.

Pre-Show


CSW is bombing his cross-examination 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! ...at the bitcoin price of $16k

Citrea claims to be a prototype zero knowledge Etherium Virtual Machine (zk-EVM) built on bitcoin but its not working and might never work



Seth is exited about Citrea



Economics


Chinese stock market drops prompt sudden replacement of a chief regulator, further attempts at bank stimulus



MacroEdge on X: "Nvidia’s now worth as much as the entire Chinese stock market" / X
OpenAI founder Sam Altman is 'seeking $7 trillion investment' - ReadWrite
But it won't work because China has been battling monetary contraction since 2014
This forecasts US Fed stimulus in the near to medium future

Canada seems jealous of the US' attempt to politicize energy policy with a bill that makes promotion of fossil fuels a crime



Privacy


Nitter, our favorite private twitter viewing frontend, is dead

Chris on Nostr



Altcoins


Crypto is preparing for a bull run with Arthur pumping a new altcoin airdrop model that's less similar to an IPO and likely informed by the Ripple win against the SEC


Bitcoin Education


What are rollups? Glad you asked..



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 on twitter

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Sponsors and Acknowledgements

Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting

Pre-Show


Harvard report on housing in the USA 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

Gavin Newsom Witnesses Shoplifting

SNL - Debanking Weekend Update



News


While the U.S. Whitehouse pushes for a new edict to register all bitcoin mining in the USA, including GPS coordinates of miners, power demand from AI companies is keeping coal burning powerplants operation past their intended EOL


Economics


Arthur Hayes' thinks that Bitcoin will go down and then up ... no duh

Rember Evergrande? A Hong Kong court has ordered liquidation 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's underwater treasury portfolio's in March while US Regional banks are still under financial pressure

U.S. regional banking shares tumble for second straight day




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

Holger Zschaepitz on X




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)






Privacy


Has Finnish law enforcement cracked Monero traceability or did a hacker accidentally upload his home folder during an extortion drop?


Bitcoin Education


Bitcoin Optech #287 covers a new replace by fee model as well as more discussion of 'exogenous fee' incentives


Feedback


Remember to get in touch bitcoindadpod@protonmail.com or @bitcoindadpod on twitter

Consider joining the matrix channel using a matrix client like element, details here



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
Find the Bitcoin Dad Pod on the Podcast Index
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
Recomended Podcasting2.0 apps:


Fountain podcast app (Android)
Podverse (Cross platform and self hostable) + Alby for boosts
Castamatic (Apple)



Sponsors and Acknowledgements

Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting

Pre-Show


Swan Bitcoin Launches Swan Mining Out of Stealth Mode



"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 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 and COPA has decilined a desperate last minute settlment offer from CSW

CSW Forgeries-COPAvWright.pdf



Economics


Chinese stocks suffer, 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



ETF: FTX Still Haunting BTC Users


FTX sold about $1 bln of Grayscale's bitcoin ETF since its approval

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

James Seyffart on X




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


Following the disclosure of the address, Bitwise also started receiving random donations and even inscriptions.


Eric Balchunas on X



Privacy


Trezor Warns of Unauthorized Email Impersonating Trezor Sent via Its Third-Party Email Provider


Altcoins


A series of articles give a high level overview 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
A December article that analyses Tether's on-chain activity and money printing via loans



Bitcoin Education


Bitcoin Optech covers a consensus failure in btcd with limited risk vs a recent Etherium consensus failure reveal


Feedback


Remember to get in touch bitcoindadpod@protonmail.com or @bitcoindadpod on twitter

Consider joining the matrix channel using a matrix client like element, details here



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
Find the Bitcoin Dad Pod on the Podcast Index
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
Recomended Podcasting2.0 apps:


Fountain podcast app (Android)
Podverse (Cross platform and self hostable) + Alby for boosts
Castamatic (Apple)



Sponsors and Acknowledgements

Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting

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



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.

Wally Street seems happy with the results



$200M of folks finally getting out

Eric Balchunas on XX

James Seyffart on X




"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 as unsuitable to buy bitcoin


Economics


Arthur Hayes on the confluence of financial system, banking, and economic stress, which means bitcoin might dump



This relates to the U.S. central bank's BTFP expiring in March

Shinobi on Bitcoin Magazine explains the economic rational for layered scaling in terms of Jevons Paradox, the observation that increasing efficency can also increase demand, which increases price



Privacy


GrapheneOS discloses vulnerabilities actively exploited by forensic companies \ stacker news ~security



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 questions


Feedback


Remember to get in touch bitcoindadpod@protonmail.com or @bitcoindadpod on twitter

Consider joining the matrix channel using a matrix client like element, details here



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
Find the Bitcoin Dad Pod on the Podcast Index
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
Recomended Podcasting2.0 apps:


Fountain podcast app (Android)
Podverse (Cross platform and self hostable) + Alby for boosts
Castamatic (Apple)



Sponsors and Acknowledgements

Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting

Pre-Show


A personal account of living in Turkiye under soaring inflation, 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



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 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




SBF's political crimes trial is not going to happen likely due to the US Presidential election in 2024


Sam Bankman-Fried’s Political Donations: What We Know | TIME
Interactive: Here are the politicians who received money from FTX's Sam Bankman-Fried - MarketWatch
Sam Bankman-Fried will not face a second trial, U.S. prosecutors decide



Economics


Paying for oil in Indian Rupees is still unattractive as transaction costs are higher than paying in dollars

Lyn Alden's latest piece on divergence in US Monetary and Fiscal Policy predicts government deficits driving monetary policy in the futre



cut + The US Congres has had multiple crypto bills 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



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

More UTXOs, more problems: High fees, signing failures, and how to avoid them - Unchained

UTXOs, addresses, and CoinJoins: Preserving privacy in a bitcoin economy - Unchained



Feedback


Remember to get in touch bitcoindadpod@protonmail.com or @bitcoindadpod on twitter

Consider joining the matrix channel using a matrix client like element, details here



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
Find the Bitcoin Dad Pod on the Podcast Index
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
Recomended Podcasting2.0 apps:


Fountain podcast app (Android)
Podverse (Cross platform and self hostable) + Alby for boosts
Castamatic (Apple)



Sponsors and Acknowledgements

Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting