Episode 29: Peak Griftonomics

Episode 29: Peak Griftonomics

Bitcoin Dad Pod

News
French wholesale CBDC iminnent (https://www.coindesk.com/policy/2022/07/12/france-starts-second-stage-of-wholesale-cbdc-experiments-central-bank-governor-says/)
Bank of Int'l Settlement's Project Jura (https://www.bis.org/publ/othp44.pdf) shows development of multinational CBDC settlement systems
Conversations about the language of bitcoin (https://dergigi.com/2022/06/27/the-words-we-use-in-bitcoin/) in the context of European regulation (https://en.cryptonomist.ch/2021/07/21/eu-clampdown-on-bitcoin-wallets-with-new-aml-and-cft-rules/)
Ars Technica doesn't understand why financial privacy is important (https://arstechnica.com/information-technology/2022/07/usage-of-crypto-mixers-for-stymying-blockchain-investigations-hits-all-time-high/)
Increased KYC/AML, 10k Euro cash limits, unhosted wallet reguations (https://www.finextra.com/blogposting/22579/eu-crypto-regulation-global-cooperation-or-competition)
What bitcoin is actually doing (https://bitcoinmagazine.com/culture/the-eu-attacks-bitcoin-due-to-a-comprehension-problem) is signing messages
Should U.S. Government Employees who work on crypto policy be allowed to own crypto (https://www.theblock.co/post/156422/us-federal-employees-with-digital-assets-shouldnt-work-on-crypto-policy-ethics-office-warns)?
Economics
Exploding (https://www.bloomberg.com/news/articles/2022-05-30/yuan-ruble-trading-explodes-as-america-s-rivals-rebuff-dollar) Ruble-Yuan direct exchange volumes are another nail in the coffin of the Petrodollar
The Federal Reserve, the US Central Bank, is researching the effects of the bitcoin lightning network (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4142590) on blockspace demand and liquidity
Tokenomics
Celcius finally files for bankruptcy (https://web3isgoinggreat.com/?id=celsius-files-for-bankruptcy), and it's a chapter 11 (https://www.theblock.co/post/157491/crypto-lender-celsius-declares-chapter-11-bankruptcy-in-new-york) meaning all depositors are getting wiped out
Voyager, a bankrupt cypto lender, lent 3ac, a bankrupt degen crypto hedgefund, ~$700M and they bought a dickbutt NFT (https://twitter.com/softsimon_/status/1547341962214260736) with some of the money
Also 3ac has abandoned their offices (https://decrypt.co/104871/three-arrows-capitals-headquarters-is-abandoned-and-its-founders-are-missing), looks like they're pulling a runner!
Loans were used to buy stupid NFTs (https://www.reddit.com/r/CryptoCurrency/comments/vy84rw/3ac_borrowed_millions_from_voyagerblockfi_user/)
Energy
Lyn Alden, a Financial Analyst, outlines a case for structurally higher energy prices (https://www.lynalden.com/the-area-under-the-curve/) for the 2020s
Expensive Gasoline Keeps More Summer Drivers Off Road Than at Height of Pandemic (https://news.yahoo.com/expensive-gasoline-keeps-more-summer-181703273.html)
Latest EU report on bitcoin compares bitcoin to ICE cars (https://www.ecb.europa.eu/pub/financial-stability/macroprudential-bulletin/html/ecb.mpbu202207_3~d9614ea8e6.en.html), it's pretty bad research
Bitcoin Education
The OP_RETURN war (https://blog.bitmex.com/dapps-or-only-bitcoin-transactions-the-2014-debate/) of 2014 pushed DAP development off bitcoin
No concept of a neutral bitcoin network
Idea of 'miss-using' transactions
Bitcoin Optech #208 (https://bitcoinops.org/en/newsletters/2022/07/13/) is either really interesting or we're nerds
Tunnel your home node through a VPS (https://blog.bitcoinlizard.net/2022/04/02/vps-passthrough-hosting/#more-122) courtesy of bitcoinlizard
Feedback
Remember to get in touch bitcoindadpod@protonmail.com or @bitcoindadpod on twitter
Consider joining the matrix channel (https://matrix.to/#/#bitcoin:jupiterbroadcasting.com) using a matrix client like element (https://element.io/get-started)
Value for Value
Podcasting 2.0 to support an indepenent podcasting ecosystem (https://podcastindex.org/)
Recomended Podcasting2.0 apps:
Fountain (https://www.fountain.fm/) podcast app (Android)
Podverse (https://podverse.fm/) (Cross platform and self hostable)
Castamatic (https://apps.apple.com/us/app/castamatic-podcast-player/id966632553) (Apple)+ Podcasting 2.0 to support an indepenent podcasting ecosystem (https://podcastindex.org/)
Sponsors and Acknowledgements
Music by Lesfm from Pixabay
Self Hosted Show (https://selfhosted.show/) courtesy of Jupiter Broadcasting (https://www.jupiterbroadcasting.com/)

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