Finding Bitcoin Signal with Jeff Booth
Finding Bitcoin Signal with Jeff Booth
What Bitcoin Did with Peter McCormack

“Theft in money will divide us all, and that theft in money will take us likely to war and maybe the end of human species… or it will concentrate all control in very few super overlords. And the rest of us, it’ll look like modern day slavery, it’ll look like China’s social credit system on steroids.”
— Jeff Booth

Jeff Booth is the Author of The Price of Tomorrow and CEO/Chairman of Ego Death Capital. In this interview, we discuss how Bitcoin fundamentals (such as its approach to the blockchain trilemma, centring on truth, and its deflationary effects) run counter to current economic theories, making Bitcoin’s signal harder for some to find.

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A common refrain whilst we live through unprecedented global economic turmoil and massive failures within DeFi is “why aren’t people flocking to Bitcoin”. Obviously, Bitcoin’s signal is being lost: the fundamentals that are designed to better protect people against incompetent, corrupt and fraudulent behaviour aren’t readily apparent to many. Why is this?

As Jeff Booth asserted in a recent article: “protocols create value in the form of a new foundation that emerges slowly & methodically”. However, capitalist societies have been conditioned to accept and expect rapid change: ‘work fast and break things’ has been taken as a given. Systems that run counter to this are viewed as being ripe for disruption. 

Bitcoin has widely been seen as slow. It’s development was famously the subject of a crisis centred on scaling arguments. The outcome was an affirmation of some core principles: Bitcoin would be predicated on decentralization and security. This spurned a tsunami of altcoins that proliferated on the pitch that they improved on Bitcoin by being able to scale. This meant many dismissed it. Bitcoin was old tech.

But, as we have seen over the past few months, speed and scale come at a cost. A real-world cost counted in billions of dollars. The blockchain trilemma means that scale means making material tradeoffs in terms of decentralization and security. The result: hacks and fraud. If there is any silver lining to the FTX collapse is that the conflation of crypto and Bitcoin now has more than a theoretical critique. 

The importance of making the case for Bitcoin, of amplifying the signal, is that it offers a transition to a new system where we can benefit from deflation. A system that protects people. A system based on a layer of truth.

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This episode’s sponsors:
Gemini - Buy Bitcoin instantly
Ledn - Financial services for Bitcoin hodlers
Bitcasino - The Future of Gaming is here
Fidelity - Careers in crypto
Ledger - State of the art Bitcoin hardware wallet
Wasabi Wallet - Privacy by default
BCB Group - Global digital financial Services


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@alltombitcoin
501 sats
27 Nov
Thanks for this awesome episode with Jeff. Love from Sweden ✌💚
@michaelmatulef
500 sats
23 Nov
@dougtee
500 sats
24 Nov
@walltim
500 sats
27 Nov
@lightningplacesdotco
500 sats
2 Dec
@woody
250 sats
26 Nov
@partb
200 sats
24 Nov
@dmtrmrfv
150 sats
27 Nov
@user5122609901898882
100 sats
30 Nov
@oneincredible
100 sats
24 Nov
Not much to disagree with here. I'm interested to find out what Jeff thinks about the potential of Bitcoin being cornered. All markets are prone to being cornered. Does Bitcoin have any checks or balances in this regard or is it also subject to this in the same way as other finite commodities?
@oneincredible
100 sats
24 Nov
Not much to disagree with here. I'm interested to find out what Jeff thinks about the potential of Bitcoin being cornered. All markets are prone to being cornered. Does Bitcoin have any checks or balances in this regard or is it also subject to this in the same way as other finite commodities?
@bitcoinplusfood
100 sats
24 Nov
@oneincredible
100 sats
24 Nov
Not much to disagree with here. I'm interested to find out what Jeff thinks about the potential of Bitcoin being cornered. All markets are prone to being cornered. Does Bitcoin have any checks or balances in this regard or is it also subject to this in the same way as other finite commodities?
@mkallas2
100 sats
23 Nov
@jc21
100 sats
28 Nov
@mtecker
100 sats
23 Nov
@evltwn
100 sats
25 Nov
@evltwn
100 sats
25 Nov
@jc21
100 sats
28 Nov
One of your best yet Pete! Thank you 🙏🏼
@irfan369
100 sats
24 Nov