35 Burst results for "Audible"
Bitcoin Audible
How the Fed "Went Broke" by Lyn Alden
"How the fed went broke. By Lynn Alden. The U.S. Federal Reserve is now operating at a financial loss and is months away from having negative tangible equity for the first time in modern history. This article explores how we got here and to what extent any of this matters for savers and investors. Commercial bank assets and liabilities. A commercial bank has a considerable amount of both assets and liabilities. In order to remain solvent, the asset side must exceed the liability side, and they have various regulations placed on them to try to keep them as solvent as possible. For a typical bank, their liabilities mainly consist of deposits. Individuals or businesses deposit money at the bank, and those deposits in various forms, checking accounts, savings accounts, certificates of deposits, and so forth, are considered liabilities, or IOUs for the bank, and assets for the depositors. This serves as the source of financing for banks. They're basically borrowing from depositors at very low rates. On the other side of the ledger, bank assets consist of various loans, securities, and cash that they hold at their Central Bank. The loans insecurities can include mortgage loans, business loans, personal loans, credit card loans, various treasury securities and other more complex securities. To use Bank of America as an example, they have $3.051 trillion in assets, and $2.778 trillion in liabilities. As of the end of 2022. Their assets exceed their liabilities, meaning they have positive shareholder equity. Even when we factor out some intangible items, mainly referring to their $69 billion in goodwill, their equity is still positive. And importantly, Bank of America's assets generate a much higher average yield than their liabilities, so they have positive interest income. They pay a small amount of interest income to their depositors and collect way more interest income on their various assets.
Bitcoin Audible
No Way Back, Only a Way Out
"Let's go ahead and just start with the post that I made on Twitter and my initial thoughts when I heard that a large the Silicon Valley bank was going under. And everyone was immediately begging for a bailout. No. We should not bail out the investors, owners, bankers, or the depositors. Do you think the value in the resources needed to cover a multi-billion dollar insolvency comes out of nowhere? This is the most dangerously stupid and cartoonish idea ever. You are stealing from the poor from everyone's standard of living from the middle class who did not make a mistake, and it is not some esoteric abstract theft either. It is real resources with real costs. People have this crazy idea that prices just go up and this is natural and there's nothing we can do. You know what actually causes these prices to infinitely rise? The endless creation of debts, printing money, bailouts, ceaseless overconsumption, manipulation of financial markets via politics, and the constant propping up of investments in institutions that consume more than they produce. In short, this. That is exactly what this is. The reason the gap for the poor keeps getting larger is because of this behavior because of this mentality. Because of this response, when you say, oh, think about the everyday depositors, you do so at the expense of those who saw their rent go up another 20% this year, who saw the price of food go up, who saw their wages, stagnate, who already lost their jobs. They are the ones paying for your mistakes.
Bitcoin Audible
Lightning Prisms by DerGigi
"Let's get into today's read. And its titled. Lightning prisms. Written by their GT. One aspect that is still massively underutilized is the programmability of Bitcoin. While simple things like scheduled payments and automated payment splits do exist, we are undoubtedly still trapped in conventional thinking when it comes to the flow of sats. I'd like to share a simple idea that was shared with me a couple of months ago in the hopes that it will spread far and wide. And in the best case that someone will just go ahead and implement it, or a better version of it. Here is the idea. All credit to mister Cox, who is now officially out of time to implement it himself. And here he has a graphic of two prisms separating and splitting up payments in a sequence. It starts with blog post at SAP prism dot com, and then the payment splits 51% going to cucks 28% going to dur Gigi in 21% going to activists at HRF dot org or the human rights foundation. But then there is another payment split, another prism off of activists at HRF dot org, where 5% goes to someone at HRF, 5% goes to another one at HRF and 5% or 80% goes to at any one at HRF dot org. Lightning prisms a lightning prism is a construct that allows for lightning address value split workflows to quote the originator. Here's the gist of it. A prism is identified by a lightning address or similar. A prism has one or more multiple recipients. Another prism can be one of the recipients, splits are defined programmatically. This simple construct allows for all kinds of use cases and can be implemented on the application layer without any changes to Bitcoin or lightning.
Bitcoin Audible
The Future Geopolitical Order and Bitcoin, Part 2 by Matthew Pines
"Let's go ahead and get into today's read. And this is part two of the future geopolitical order and Bitcoin. And initial assessment. And we are starting in on this section titled. Scenario analysis. What goes on inside is just too fast and huge in all interconnected for words to do more than barely sketch the outlines of it most one tiny little part of it at any given instant. David Foster Wallace every scenario in the arago of Pentagon wargaming starts with assumptions and artificialities, and then presents a ground truth. The former fix the parameters of the notional future, and the latter unpack the salient context and detail to examine the issue under analysis. Our assumptions and artificialities defined over the time horizon of interest. 2022 to 2030. One. Putin does not use nuclear weapons or mass use of chemical weapons beyond irritants in Ukraine. Two. Putin does not get deposed or assassinated. Though he may die of suspected disease, we assume his replacement is another style of Vicki, and won't fundamentally liberalize Russian society or change foreign policy. Three. China does not launch an unprovoked full scale invasion of Taiwan. This doesn't preclude actions against offshore islands like dong Ying, pratas, or other provocative moves in the South China Sea. Four. The Chinese Communist Party remains in power. Most likely with Xi at the helm, but this is not assumed. 5. No new breakthrough technologies or scientific discoveries are made that change the fundamental productivity or energy capacity of society, or destabilize human social order. For example, UAP disclosure. 6. No existing nuclear powers collapse or engage in nuclear hostilities. For example, Pakistan or North Korea, and new nuclear powers, examples of Saudi Arabia and Iran do not engage in nuclear conflict. 7. No debilitating attacks on global Internet infrastructure are launched. This includes cyberattacks, cable cuts to undersea fiber links, destructive anti satellite attacks, et cetera 8. No new COVID variant or other pandemic brings civilization back into a 2020 state of lockdown or worse. 9. The global food fertilizer system does not collapse and lead to multi continent famine, killing more than 5 to 10% of world population. Destabilizing social order throughout the world, including the west. And tin. The United States or Europe for that matter does not experience a political crisis that leads to a breakdown in constitutional order, a fundamental change in the federal structure of government or a secessionist breakaway block of states.
Bitcoin Audible
The Future Geopolitical Order and Bitcoin by Matthew Pines
"The future geopolitical order and Bitcoin. An initial assessment written by Matthew pines. The days move along with regularity, one day indistinguishable from the next, a long, continuous chain, then suddenly there is change. Travis bickle, taxi driver, 1976. On February 26th, 2022, a mere three days after Russia launched its invasion of Ukraine. The European Commission, France, Germany, Italy, the United Kingdom, Canada, and the United States released a quote joint statement on further restrictive economic measures. This statement joined by Japan two days later, declared how the group of 7 G 7 nations will quote commit to imposing restrictive measures that will prevent the Russian Central Bank from deploying its international reserves. This unprecedented sanction had the effect of freezing Russia's ability to access about half of its $600 billion of foreign reserves. And with a stroke of a pin, what Russia thought was its money one day, turned out not to be overnight. Amid the fast moving events of that period and additional sanctions since applied, the strategic import of this particular action was somewhat obscured. However, history will likely note that move as marking a fundamental pivot in the evolution of the international economic system and the associated global order. The lesson Russia learned in February was also learned by the Canadian truckers, and many others in recent history, and brings into sharp relief a question that hits at the core of the current monetary and political arrangement. What is money and who has the power to decide?
Bitcoin Audible
"audible" Discussed on Bitcoin Audible
"Welcome back to Bitcoin audible. I am gai swan the guy who has read more about Bitcoin than anybody else you know. And we've got a piece today of the reason I want to read the read that we are going to read today. Is because when we covered the lightning or the breeze SDK and talking about lightning for any app in any device and everything and the model that combines the instant spinning up of a node on something like green light or some other hosting service where you still hold the encryption keys that they don't even know, they have no access to the funds inside of that node. And then you use the LSP model to in the breeze SDK you use breeze as an LSP in order to spin up channels and have instant liquidity. And basically make it so that you just have a simple API to initialize an entire Bitcoin enlightening stack like that just in a matter of seconds and you are off to the races and your app has lightning payments and Bitcoin integrated. And that was a really huge deal and really fun to kind of expand on, but a lot of people had questions. And there was also a question of, well, doesn't this centralize how do you do the LSP model? Can you select LSP's? Like, what does that mean? And breeze, or Roy scheinfeld, actually wrote an article about exactly that. So it was something, I think it indicates a lot of different things. It brings us back to Nick bhatia's lightning network reference rate. There's an element there. It explains what I think real DeFi is. What is the new financing? What is FinTech when we think of Bitcoin and lightning? And where is this ecosystem going? How are we seeing the bootstrapping in the building out of a really robust and highly liquid market?
Bitcoin Audible
What Applications Require Global Consensus? By Lyn Alden
"What applications require global consensus? For many years now, there has been a fad around the concept of blockchain technology, as it relates to decentralization. Some of the big themes have been along these lines. Internet native money, asset tokenization, decentralized media, digital identity. All of those things indeed are important avenues of research. Bitcoin is a useful Internet native money. Stablecoins tokenize the dollar and make it more accessible to people around the world. Decentralized information protocols can give more people access to information and connections without centralized moderation or a centralized server to shut down. Digital identity gives someone the ability to prove themselves to be a continuous entity across different digital platforms and across time. However, in recent years the idea of web three has been used mainly as a marketing tool for the third and fourth items on that list. Anything with decentralized or blockchain as part of its claim has tended to get a lot of capital. Venture capital firms can deploy capital into a token project, pump up a lot of hype for it, encourage users to come into its ecosystem with Ponzi like financial characteristics, sell their tokens to retail investors after a couple of years, and walk away with big gains regardless of the fact that the project had no long-term staying power. In such an environment, user metrics are distorted due to their being so many financial incentives that are not necessarily in line with using the software for its own sake. The joke, therefore, is that web three has more investors than users. And the level of decentralization is often overstated as part of the marketing effort.
Bitcoin Audible
Bitcoin: The Three Generations Theory by Aleks Svetski
"The three generations theory. How Bitcoin reaches mass adoption in 60 years. By Alexander's fetch whether bitcoiners like it or not, large scale Bitcoin adoption is not coming this decade or next. It's simply going to take a number of generations to filter into society. This is an opinion editorial by Alexander's fetch, author of the un communist manifesto, the Bitcoin times, and the viral and controversial remnant series and head of growth and strategy at lucent labs. Bitcoiners are notorious for their overestimation of how quickly Bitcoin is going to quote take over the world, and become quote widely adopted as money. I've sat squarely in that camp for a long time now. But I've come to think differently of late. Before you accuse me of giving up or call me a flake, I ask that you read on and reserve your opinion until the end. I like to think that I am maturing in how I view Bitcoin. Call it Temperance, patience, or a dose of humility, but I am trying to add some realism, or a lower time preference to the often overhyped perception of Bitcoin among some of us. But as you'll note, I think on a longer time scale, none of us are, quote, bullish enough. Hat tip to CK. Let's dive in. Bitcoin is a techno socioeconomic transformation. People are very quick to project technology adoption curves onto Bitcoin. But the problem is that Bitcoin is not just a technology. It's not just a smartphone or a computer or a social network or a new stock or security or a new payment method, or a search engine, or a messaging platform, or any other new product, app or service. Bitcoin is an entire techno socioeconomic transformation. It's a reinvention of money from the ground up, incompatible with any prior primitives. So it's not only orders of magnitude larger as a shift, but it's also completely different in a paradigmatic sense. These are massive benefits and massive hurdles.
AP News Radio
States seek ways to curb deadly highway wrong-way crashes
"More and more states are installing warning systems designed to prevent deadly wrong way crashes on their highways. Every year in the U.S. between four and 500 people die in wrong way collisions. And states are exploring technology to help reduce that number. Like Massachusetts, which is testing a detection program, which sets off flashing lights, signs and audible alarms, if a car is detected, entering a ramp in the wrong direction. If the driver doesn't stop then state police are automatically notified and message billboards light up on the highways, telling other drivers to watch out for someone heading toward them. In the wrong direction. Connecticut Rhode Island, Kentucky and Texas are exploring similar technology. Researchers say most of those responsible for wrong way crashes are driver to our impaired older drivers and younger drivers who lack experience. I'm Jackie Quinn
Bitcoin Audible
Keys: Everything You Need to Know
"What are public and private keys? So when you're encrypting a message, what you have to do is you have to scramble the message and lock it up so that nobody can read it. And then you have to unlock it, and you have to have a key to do that. This is true if you want to send a message in the real world or you want to send something securely, you know, you put it if you want to lock it into a box, the person who receives it needs to have the key to unlock it. And you need to have the lock that specifically opens with their key. Well, whitfield diffie and Martin hellman in I think it's like 1970 four 76 maybe. I don't know. 1970s. Published new directions in cryptography in which they unveiled the public private key scheme. Which is essentially the mathematical equivalent of that of that relationship. One is a key and one is a lock. The public one is the lock. And now just so you know, this analogy isn't perfect. There are some very specific things and quirks of public and private keys that make the analogy really kind of only the way that you interact with them. Because they are math based, well, you can do some other mathematical tricks that you can't do with a physical lock. So there's limitations to any analogy, right? But I still think particularly in the way they are used in Bitcoin unless you're interested in cryptography and all the ins and outs. The best way to think of them is your public key is your lock and your private key is your key. It is your master key. And the magic of this is that when you post your public key, when you post your lock, digital lock online somewhere, well then anybody can just take your lock and lock up a message. Lock up transaction details, lock up, bank account information, or just establish it, establishing a connection to a server. You can lock it up so that only that other person can access it.
Bitcoin Audible
Lightning for Everyone in Every App
"Let's get into today's read. And its titled. Lightning for everyone in any app. Lightning as a service via the breeze SDK. Written by Roy scheinfeld Archimedes famously is supposed to have said, give me a lever long enough and a fulcrum on which to place it. And I shall move the world. While you've got to love the bravado, the quote also reflects the simple point that the right technology at the right place and the right time can move the world. Steam power was nearly 2000 years old before the conditions were right for it to scale and change everything. All bitcoiners since satoshi have known this instinctively. This knowledge is what makes it rational to spend time and money on a technology that still ripening. We know that when the conditions are right, when the technology has become efficient and convenient enough and when people's exasperation with Fiat exceeds their fear of novelty, Bitcoin's time will have arrived. Lightning itself was a huge step in making the technology more efficient and convenient, but there's still room to improve the UX for users and developers. That's where our new SDK comes in. Instead of requiring developers to learn a new technology from the ground up, the SDK lets them add Bitcoin payments to their apps, which people are already using.
Bitcoin Audible
"audible" Discussed on Bitcoin Audible
"This is the end of lightning as a niche technology and the beginning of lightning as a ubiquitous service. In a few years, lightning functionality will be so universal that nobody will even notice it anymore, and it will be so useful that nobody will want to live without it. Like phones like shoes, like concrete, like the alphabet. The best in Bitcoin made audible. I am guy swan and this is Bitcoin audible. What is up guys? Welcome
Bitcoin Audible
What Is Nostr? How Does It Work?
"What is no stir? No stir stands for notes and other stuff transmitted by relays. Think of Nostra as a social network, built similar to Twitter, where you can create posts or notes like a tweet, like posts, follow and unfollow people, and boost posts, like a retweet. You may see post and note used interchangeably on noster. And event in noster can be any of these previously mentioned actions. One thing to make abundantly clear no stir is a protocol. It's a set of rules that servers and clients use to communicate, just like Bitcoin, email, or BitTorrent. Noster is not an app nor a platform, like Twitter, Facebook, et cetera. But many applications can be built on top of noster. In the words of Edward Snowden, if a platform is a silo, a protocol is a river. No one owns it, and everyone is free to swim. Unlike Twitter or Facebook, noster is decentralized. There are no central servers or corporations who control what you can post and what others can see. Noster is censorship resistant and open-source. The license for noster is simply public domain. How does nostor work? To use noster you must run a client. A client is simply the way you interact with noster. Web client in your browser, mobile client on your phone, native client, et cetera. To publish something on those, or you write a post or a note, sign it with your key and send it to multiple relays. You have two keys, your public key, and your private key. Think of the public key as your username, like you're at handle on Twitter. Think of your private key as your password. Do not share it with anyone.
Bitcoin Audible
Hashes & Proofs of Work
"Unfortunately, well, not unfortunately, because this is such a cool thing. I love hashes and proof of work. This is one of the most interesting tricks of cryptography and things that you see all the time and that will give you a whole new image of the entire Internet, your computer, networking, and everything, if you didn't really know much about it beforehand. However, it is the most probably the most technical thing that we will cover. Everything else, public private keys are a little bit easier because you can just use a simple analogy. But hashing is so ubiquitous in Bitcoin and then just to kind of a lot of things that you do kind of have to understand some really important characteristics about it. There's a decent analogy that a hash is a fingerprint of the data, like a hash of a PDF, is just a fingerprint of that PDF so that you know you're getting the right PDF. But there's a couple of really critical characteristics. That make a lot of the main functions that you see come up all the time in Bitcoin and that recur over and over and some of the fundamental ways that you even want to think about the pieces of Bitcoin and you have to know those characteristics and saying it's a fingerprint doesn't really give you that whole picture. So the one thing that I want us to be familiar with is hashing. And hashes. Because you can deduce a lot about Bitcoin from just understanding how it uses hashes. And it's just fun too. So that is what we are covering in basics episode two. Let's take a quick moment, hit our sponsors for today, and then we will get into this one. All my freaking God. I had no idea today. It just dropped that there is a new cold card Q one. It has got a full qwerty keyboard on it. It has got a QR code scanner and a huge color screen. So the already super versatile cold card just got just added a camera and a big screen to be able to do QRS code scanning, which honestly, I think that means that it has like every mode of communication that I think any hardware while it has. That's crazy.
Bitcoin Audible
The Anatomy of a Scam: The IMF and World Bank Empire
"We're going to talk about or a big picture view. We're going to do an overview of the IMF and World Bank scam. What they are up to and what's what gets me and Sean, I mentioned yesterday, actually, towards the end of the episode, a listener of the show pointed out to me sent me a DM and had a really good point about the fact that this generally people are unaware of this. You know, like most people, in fact, most people who listened to that read and or read gladstone's piece did not realize the degree of just sinister and the malicious control that the IMF and World Bank are exerting through their financial influence through their monetary privilege essentially. And even worse that they describe it as aid. You know, it's one thing to be an evil piece of crap. It's another thing to call yourself a philanthropist and stand up on a pedestal and pat yourself on the back about how amazing you are. I would say it's unbelievable because of how insane the perspective is and the propaganda that they push is in comparison to the reality of the consequences of what they do, but it's not unbelievable. It's very believable, unfortunately. So I want to start this out with just a general overview of why fractional reserve banking is a scam. And more specifically why the bank is the only one that benefits from a situation where they can leverage themselves at the cost of the taxpayer or the consumer. And that they can do this quietly. They can do this without making it obvious the risks that they are taking. And just the idea that just, this is analogy, an analogy I've used many times on this show, but I think it's really good at illustrating the problem. The problem with issuing money as a loan, owed to someone else.
Bitcoin Audible
A Native Protocol for Social Media by Jack Dorsey
"Let's get into today's read. And its titled. A native Internet protocol for social media. By Jack Dorsey. A continued to believe there was no ill intent or hidden agendas, and everyone acted according to the best information we had at the time. Of course, mistakes were made, but if we had focused more on tools for the people using the service rather than tools for us and moved much faster towards absolute transparency, we probably wouldn't be in this situation of needing a fresh reset, which I am supportive of. Again, I own all of this and our actions, and all I can do is work to make it right. Back to the principles. Of course, governments want to shape and control the public conversation, and we'll use every method at their disposal to do so, including the media. And the power a corporation wields to do the same, is only growing. It's critical that the people have tools to resist this, and that those tools are ultimately owned by the people. Allowing a government or a few corporations to own the public conversation is a path towards centralized control. I'm a strong believer that any content produced by someone for the Internet should be permanent until the original author chooses to delete it. It should be always available and addressable. Content takedowns and suspensions should not be possible. Doing so complicates important context, learning, and enforcement of illegal activity. There are significant issues with this stance, of course, but starting with this principle will allow for far better solutions than we have today. The Internet is trending towards a world where storage is quote free and infinite, which places all the actual value on how to discover and see content. Which brings me to the last principle, moderation. I don't believe a centralized system can do content moderation globally. It can only be done through ranking and relevance algorithms. The more localized the better. But instead of a company or government building and controlling these solely, people should be able to build and choose from algorithms that best match their criteria,
Bitcoin Audible
Decentralized Finance (DeFi): The Good, the Bad, and the Ugly
"Decentralized finance. The good, the bad and the ugly. By Allen farrington and Anders Larson. What follows does not represent the views of either author's employer and is not financial or investment advice. It is intended as a philosophical technical and economic assessment of a novel class of Internet protocols. These protocols mostly happen to give rise to natively digital assets, which lend themselves to naturally emerging online and effectively public markets, and which present direct investment opportunities. Nonetheless, the following is merely and only our opinion of how these technologies are likely to progress. Readers considering investing in any asset discussed herein should do their own research and should not rely on our work. Quote I'm just here so I don't get fined. Marchand lynch testifying on behalf of Sam bankman freed. A common refrain in the wake of the collapse of FTX as with Celsius BlockFi and Voyager before it was that this was C 5, not DeFi, or centralized finance, not decentralized finance, and if anything, only further demonstrates the need for DeFi. Pundits railing against DeFi are therefore missing the mark in their over broad hostility. It has been said, in our previous paper, only the strong survive, we made each of the following observations. One. Our main problem with DeFi is that it is not decentralized and it is not finance. Two. Nonetheless, we support the idea of decentralized finance in theory. Even if DeFi isn't it in practice. Three. We believe a variety of decentralized finance will emerge on Bitcoin and to some extent already has.
Bitcoin Audible
How the IMF and World Bank Repress Poor Countries: Part 4
"Let's jump in to today's read. This will be part four of Alex gladstones, how the IMF and World Bank repress poor countries. We're jumping in on this section, titled. Part ten. White elephants. What Africa needs to do is grow, grow out of debt. George iity. By the mid 1970s, it was clear to western policymakers and especially to bank president Robert McNamara, that the only way poor countries would be able to pay back their debt was with more debt. The IMF had always paired its lending with structural adjustment before its first few decades, the bank would give projects specific or sector specific loans with no additional conditions attached. This changed during McNamara's tenure, as less specific structural adjustment loans became popular, and then even dominant at the bank during the 1980s. The reason was simple enough. Bank workers had a lot more money to lend out. And it was easier to give away large sums of money if the money was not tied up to specific projects. As payer notes, twice as many dollars per staff week of work could be dispersed through structural adjustment loans. The borrowers, Hancock says, couldn't be happier. Corrupt ministers of finance and dictatorial presidents from Asia, Africa and Latin America tripped over their own expensive footwear in their unseemly haste to get adjusted. For such people, money was probably never easier to obtain, with no complicated projects to administer and no messy accounts to keep, the venal, the cruel and the ugly, laughed literally all the way to the bank. For them, structural adjustment was like a dream come true. No sacrifices were demanded of them personally. All they had to do amazing but true was screw the poor.
Bitcoin Audible
How the IMF and World Bank Repress Poor Countries: Part 3
"Marry almost Christmas guys. Let's go ahead and dive into the third part of Alex gladstone's incredible piece on the IMF and World Bank. Beginning on the section titled. Part 7. Creating agricultural dependence. The idea that developing countries should feed themselves is an anachronism from a bygone era. They could better ensure their food security by relying on the U.S. agricultural products, which are available in most cases at lower cost. Former U.S. secretary of agriculture, John block. As a result of bank and fund policy, all across Latin America, Africa, the Middle East and south and East Asia. Countries which once grew their own food, now import it from rich countries. Growing one's own food is important in retrospect because in the post 1944 financial system, commodities are not priced with one's local Fiat currency. They are priced in the dollar. Consider the price of wheat, which ranged between 203 $100 between 1996 and 2006. It has since skyrocketed, peaking at nearly $1100 in 2021. If your country grew its own wheat, it could weather the storm. If your country had to import wheat, your population risked starvation. This is one reason why countries like Pakistan, Sri Lanka, Egypt, Ghana and Bangladesh are all currently turning to the IMF for emergency loans. Historically where the bank did give loans, they were mostly for modern, large scale mono crop agriculture, and for resource extraction, not for the development of local industry, manufacturing, or consumption farming. Borrowers were encouraged to focus on raw materials exports, oil, minerals, coffee, cocoa, palm oil tea, rubber, cotton, et cetera and then pushed to import finished goods, foodstuffs, and the ingredients for modern agriculture like fertilizer, pesticides, tractors, and irrigation machinery. The result is that societies like Morocco end up importing wheat and soybean oil instead of thriving on native couscous in olive oil.
Bitcoin Audible
"audible" Discussed on Bitcoin Audible
"They just freelanced it is how one former employee characterized the decision. Hacking was the excuse, but within a few hours pretty much everyone realized that wasn't going to hold. But no one had the guts to reverse it. The best in Bitcoin made audible. I am guy swan and this is Bitcoin audible. What is up guys? Welcome back to Bitcoin audible. I am guys on the guy who has read more about Bitcoin than anybody else. You know. And welcome to a fresh week of Bitcoin audible and we're doing an episode today that I
Bitcoin Audible
The Twitter Files: Part One
"Files part one that get bits like a series apparently that they're going to be dropping on Twitter on everything that they're basically uncovering as they go through the mess that was the censorship and the manipulation of the discussion of the public discussion that was happening on Twitter. Specifically this started around where I think this really came to light most blatantly was around the Hunter Biden story and the and this is where the Twitter files starts in releasing all of this information. Now I know this isn't like Bitcoin quote unquote related. But a, it was a really long thread, and I know there's a lot of people who are interested in it. People had a couple of people ping me about it. But also, I think he is actually related because the excessive constant over politicization of everything is because of the systemic problems in the unbelievable confiscation, the control over all of our resources and all of our lives that the political sphere has. And not only do I not think that's separate from the problem of money, it is because it is explicitly the result of the problems that we have in our money. And I'll touch on that a little bit at the end, but mostly the rant is just kind of me going on with how painful and obnoxious the hypocrisy of the mainstream and establishment media and political system is. In particular, one of the other interesting things is just how they're treating this, how the establishment media is largely treating this release of obviously true data on a very real and very important story. And most importantly, the explicit lies told and spread and the fact that the intelligence system of this country invented a story out of thin air as to why this was not true. This
Bitcoin Audible
"audible" Discussed on Bitcoin Audible
"We are rescinding my co authored piece on the ethical, moral, intellectual, economic, and financial bankruptcy of non Bitcoin crypto and DeFi, on impossible things before breakfast, written 6 months ago. I will start with the conclusion my peace failed. Nothing has changed, DeFi driven blow ups have continued, and therefore in the strongest possible terms I repeat with humility. Do not invest in non Bitcoin crypto. Do not invest in non Bitcoin DeFi. This is why neide is a Bitcoin company, always has been, always will be. The best in Bitcoin made audible. I am guy swan and this is Bitcoin audible. What is up guys? Welcome back to Bitcoin audible. I am guy swan. The guy who has read more about Bitcoin, than anybody
Bitcoin Audible
"audible" Discussed on Bitcoin Audible
"My learned opinion is that although your average toxic Bitcoin maximalist might be able to sniff out this bullshit a mile away, Silicon Valley can not, because crypto is peak Silicon Valley and Silicon Valley has sadly become peak Fiat. The best in Bitcoin made audible. I am guy swan and this is Bitcoin audible. What is up guys? Welcome back to Bitcoin audible. I am guy swan the guy who has read more about Bitcoin than anybody else, you know. And we have got a great piece today. You
Bitcoin Audible
"audible" Discussed on Bitcoin Audible
"And too uncertain to be modeled or reduced to neat quantifiable units. Expanding humanity's productive resources or capital requires the acceptance of complexity, uncertainty, unknowns, and risk. It's not a neat or tame process. It's a wild one. It's a gang of risk takers spelunking the caverns of the unknown with nothing except their intuitions about future preferences and knowledge of current problems to guide their descent into the uncertain and the unknowable. The best in Bitcoin made audible. I am guy swan and this is Bitcoin audible. What is up, guys? Welcome back to Bitcoin audible. I am guy swan V guy who has read more about Bitcoin than anybody else you know. We have got a fantastic one. This is a long
Bitcoin Audible
"audible" Discussed on Bitcoin Audible
"Or institutions that withstand attempts at coercion, in which tap into decentralized discovery. Martial arts are a fitting case study, and an encouraging allegory for all that follows a few decades ago, they were under the grip of bullshitting coercion. Today, they are thriving and remarket place of ideas. The best in Bitcoin made audible. I am guy swan and this is Bitcoin audible. What is up, guys? Welcome back to Bitcoin audible. This is the best in Bitcoin made audible and I am guys
Bitcoin Audible
"audible" Discussed on Bitcoin Audible
"Bitcoin is ripe for a massive disruption of systems like swift, and at the rate the world is becoming both politically and economically unstable. I think that time is going to come sooner rather than later. The best in Bitcoin made audible. I am guy swan and this is Bitcoin audible. What is up, guys? Welcome back to Bitcoin audible. I am guy swan the guy who has read more about Bitcoin than anybody else you know, and we have got a great read today from the ever fruitful. Bitcoin magazine,
Bitcoin Audible
"audible" Discussed on Bitcoin Audible
"It's not and never was about equality or perfection. It's about fairness and consequence. Bitcoin is responsibility go up technology. The best in Bitcoin made audible. I am guy swan and this is Bitcoin audible. What is up guys? Welcome back to Bitcoin audible. I am guys want the guy who has read more about
Bitcoin Audible
"audible" Discussed on Bitcoin Audible
"Supply. To put it into perspective, this international monetary system based around centrally managed Fiat currency is only 16 years older than me. My father was 36 when the U.S. went off the gold standard. When I grew up after a period of financial hardship, I began collecting gold and silver coins as a kid. My father gave me silver coins as savings each year. The Swiss dropped their gold standard when I was 12 years old, which was 6 years after Amazon was founded and three years before Tesla was founded. The Fiat Petro dollar standard is only four times older than Bitcoin, and only two times older than the first Internet browser. That's pretty recent when you think about it like that. The best in Bitcoin made audible. I am guy swan and this is Bitcoin audible. What is up guys? Welcome back to the show. This is Bitcoin audible and I am guy swan. The guy who has read more about Bitcoin than anybody else, you know. We are continuing
How I Built This
"audible" Discussed on How I Built This
"Lot and, you know, and they go into a world and usually they stand for the status quo and they usually resist technological change in particular and others. It's a longer story, but it's been like this forever. So it was difficult, but eventually we did start to break through and be able to carry these audiobooks at a different cost. And then the other thing that we did figured out was was the subscription model. Yeah, how did that? Because from what I understand, it was up until this point, it was you buy a player, which you're asking a lot of people. You're asking them to spend 200 bucks on a MP3 player and then ten, $5 on a book, that's a lot to ask people, right? Yes. And that was the challenge. So what if you just got an audiobook a month and a player and you get a year's subscription? And that really helped. That helped a lot particularly since at that point we had these audible ready devices that other people but we started giving away a little blue MP3 player called the Otis. We got rid of the audible mobile player and let that become the artifact it needed to be. And the Otis was free if you got a subscription. Yep. And we just gave him away. And what was the commitment you had to do a year subscription or? It was a year, it was a year commitment. And what was the price? It was actually 9 95 for two audiobooks and we started. A month. Yeah, a month. And it gained traction. Yeah. And frankly, the phone call I got around this period from Cupertino California from Steve Jobs was a ray of hope that was really meaningful. Okay, so let's talk about this. Steve Jobs calls you in 2001. And he said, hey, I like this thing you're making. He did. He said more than that. He said, tell me about this round tripping how you bookmark the content. I said, he said I want to hear more about this, and then he asked all sorts of questions about the tech. In very enthusiastically, which was kind of ironic because Steve was kind of known for not invented here, view on text. Stealing stuff, yeah. So but he was very, very focused on this. And he went on actually to talk in ways that we began to have fairly rich conversations because we shared this historic view of the interplay of technology and invention and culture. This whole idea that, you know, from chisels and caves, department, you have this amazing creative unleashing, he understood. I was surprised for what I thought would be a pure tech guy, the golden age of radio and what that meant and how the music business exploded with creativity when it shifted from sheet music. So we talked about this kind of stuff, and he told me that he would weep copiously when he listened to Edmund white read Charlotte's web. And so he just basically decided to tell me that he had this plan around this iPod. And that I went home and I remember telling my wife that Steve said he's going to spend 15 $1 million marketing their audio player. And I said, can you imagine if we had $15 million to market? You know, at audible. And this one thing led to another, and the second generation iPod came out, it worked commercially with audible. So basically, you would plug in because you used to have a plug in your iPod to your computer through that, you know, interface. And you would go to the audible website and that would download directly to the iPod. Yeah. And that was it. And so it would load up. And they were these sweet little devices. They were very cool. The only thing we didn't get to do was put our marketing collateral in the boxes. So it didn't say audible anywhere. It did say that it was audible ready, and that was the term that we'd kind of coined at the time and that it started to mean something, at least in the world of people buying MP3 players. So we were able to Garner our cost structure to be for the stakeholders who were going to get this. Yeah. You know, so we were able to target market to the people buying these newfangled players and we were basically compatible with all of them. And once we started giving away minis instead of our own player, it started to get better. All right, so just to be clear, instead of giving away your own devices as a way to get people to subscribe. You started to give away the Apple iPod and I think you did that for several years. I mean, Steve Jobs kind of gave you a lifeline there. And so I'm assuming that pretty soon, you know, after that, you just kind of stopped being a hardware company because eventually it would have been sort of pointless, right? No, that's absolutely right. And, you know, we were happy to get out of it and basically declare that the hardware was a means to an end. There would be other transmission methodologies, we know we had partnerships with everybody including the companies that were making CD burners at the time and the like. So I always wanted to be a means to an end. You had a, I think by 2005. So you're not completely out of the hardware business, you're focused mainly on licensing audio, and really you pivot towards audiobooks. When did that happen? What was the thinking around that? I think it was just because it took off. 2007, we still had 20,000 audiobooks now we have many, many hundreds of thousands obviously. But 20,000 audiobooks in 2007 and 45,000 other kinds of content, including Robbins programs, Ricky Gervais, programs, the amazing Suzy bright erotica series which has had, which was these were pre podcasts, basically. Before the team, they were all short form programs. Yeah, they were just part of the repertoire. I mean, you became the global supply of audiobooks to iTunes already in 2003. So by that point, it was clear that audiobooks was where you were headed towards what do you remember what the pivot point was where you were like, okay, we've broken through the publishing industry is cooperating. Yeah. I think that the utility of the service. The idea of positioning this as a way to use your time. Now it was also true that only about 15% of the books coming out were an audio. So our crusade was always to get more audiobooks made or to try to get the rights ourselves from the agent and the author to get them made because we literally would run out of mysteries. And I would go at one point, I remember I put my wallet on the desks of CEOs and the publishing industry. I said, I need more content. So at that point, it wasn't coming, and we broke in to getting the rights ourselves and making a whole lot of audiobooks. We also figured out how to make an audiobook for about a tenth of the cost that just using technology. So we just started making a lot of audiobooks. And it got better and better. And there was something called project Hollywood in 2011 and 2012, where we just said, let's just go find out what the greatest actors will do. And when I heard Kate Winslet due to Theresa Rica, one of the darkest Zola novels of all the novels, you know, and people heard what she could do. I remember thinking we could take this whole thing to a new level and make this about acting as.
How I Built This
"audible" Discussed on How I Built This
"Podcasts or tens of millions of different songs. Back before any of that, a former journalist turned writer named Don Katz, had a problem. During his daily jog in New York City, he would listen to books on tape, literally on tape as in cassette tapes. And Don wondered, why do I have to lug around a cassette player and then flip the cassette to side B in the middle of my run? Surely there must be an easier way he thought. And in fact, at the time, there was. MP3 technology existed except almost no one used it. In the mid 1990s, compact disc sales were on a tear. It would take another 7 years before CDs began to decline. But Don was optimistic. And at the age of 42, he decided to ditch his successful career as a writer, and try to start something he knew nothing about. A tech company. A company that would create a digital audio catalog of books and storytelling and spoken word, and deliver those stories to users through a device specially designed to play that audio. And as you will hear, in the early days, not many people came to the party. The technology was way ahead of its time, probably too ahead of its time. In fact, audible, the company Don founded, almost collapsed in the early 2000s when its stock price hovered at around four cents a share. But today, of course, audible holds the biggest audiobook catalog in the world. It dominates the space with a library of over 600,000 titles. And the company is now part of the Amazon family, which bought audible for $300 million in 2008. But getting to that point was painful and full of setbacks, and the story includes a cameo appearance from none other than Steve Jobs. Dot cats was a staff writer for Rolling Stone magazine during its heyday in the late 70s and 80s. He grew up in Chicago in the 50s and 60s and strongly identified with his dad, who owned a small business. So my father was just incredibly kind of smart, kind and, you know, it's a cliche, but he was one of these guys you would want it to be your kind of best friend. I looked up to him. I probably wished he was home more because he was frankly like I became someone who worked a lot. And he was also, he had been a war hero. He ran away from home basically with 17, and was behind enemy lines, highly decorated. Italy or he was in the it was in the black forest in Germany. And he didn't really talk about it. He wasn't one of those guys, but he had a different purple hearts every time I broke a leg and hockey or something, I would wake up and find the Purple Heart and my pillow. And your dad from what I understand. He hit a music store in Chicago called I guess called K musical instruments and it was. It was actually a guitar man. It's hard manufacturing. Yeah, my dad made guitars. He made them for Sears. Silvertones, but I remember that there were some pretty great bands of the era and one called spirit that had a fantastic guitarist named Randy, California who only would play K's and the like. But my dad's kind of claimed to fame at that time was that he put chord books in guitars and started this whole idea that you too can play the guitar, and it alienated a lot of the musicians, including Barney kessel and Las Paul and people that he was friends with because they were infuriated to say that their instrument was easier to play than a thinner than a violin. And of course, he said, yeah, but you know it is. And so it ended up that my family was all in newsweek magazine, taking our guitar lessons together because my dad had decided to be part of this U2 can play the guitar, which was part of the whole mid 60s folk music kind of movement. So I think back and he was definitely somebody who also liked to challenge the status quo, which I think I have come by honestly. So was he financially successful? He was financially successful in the way of a rising entrepreneur of his time. But very tragically he went out to play tennis at 47 years old on a Saturday and I got a call when I was in college saying that he died playing tennis. Very suddenly of a massive heart attack. Wow. And it really marked my life in so many ways. It was definitely a formative experience. I've heard and you probably have heard this too that there's a lot of patterns of fatherlessness in highly entrepreneurial people, whether it's through abandonment or early death, including taking ridiculous risks as a journalist in the early part of my career, where I could have easily gotten killed several times. I think I was working out his heroism and other kinds of things. So, you know, you come to these things a little later in life, but it is interesting to reflect on it. So for college, I know that you went to NYU and you majored in English and from what understand Ralph Ellis had be Ralph Ellis at The Invisible Man Ralph Ellison was a professor there. And you kind of had an opportunity to sort of work with him to be tutored by him. Right. He taught me how to read and Jorge that I fully didn't understand. And I knew that I loved more than anything the sound of literature. And I was just and how it felt to me, but I Ralph actually kind of flushed it out in a way that it became something that I was fully able to understand. He also, he also gave me the I think the confidence to try to be a professional writer, which I proceeded to do for 20 years. Was Ralph Ellison you're like your thesis adviser? Yeah, he basically was. And Ralph was a deep and exacting intellectual. So I had to work really hard and read really hard. Anyway, it was an amazing experience. He would sit with a big stokey and he was amazing story for telling voice with his Oklahoma. I've said that his voice was like a coal car coming out of my mind. And I would just be mesmerized and it was a big supporter and later even the audible transition right at the time. He died. He was incredibly supportive of what I did. So you graduate from NYU and you're sort of thinking that you want to be right, but it's not that easy to do so and you did what lots of people do, which is you decide to go to graduate school and to continue studying. I'm assuming you went to London to London school economics. Am I assuming correctly that you didn't really know what you wanted to do, you wanted to kind of buy some time? Absolutely. In fact, I thought at the time almost everybody thought if you didn't know what you should do, you should go to law school. Yes. Right. But I studied the European economics and politics and international history. And I was living with my old friend, Barbara, who was a rock writer. She had gone to be a rock and roll writer in London. And so we just paired up and shared a flat, and so I would come home and there would be, you know, Rod Stewart and Keith Richards.
Bitcoin Audible
"audible" Discussed on Bitcoin Audible
"Bitcoin fails as money because of its naive. Monetary policy many people think government printing too much is evil so a fixed money supply must be good the reality a money that cannot expand would crush the economy and put us all in poverty. Here's why and how to fix it to see this. We need to understand why monetary deflation and expanding economy do not go together. Let's simplify so it's easier to see say. We have an economy with one product. The twinkie and one currency the dollar price of one twinkie equals one dollar alice. A twinkie entrepreneur. Hires bobby to help make twinkies. Alice's company makes one twinkie a year. So the company revenue is one dollar. Bob's salary is fifty cent. An alice takes the other fifty cent what happens. When productivity goes up aka the economy grows when prices and wages are stable. Alice is always motivated to find. Better ways read new technology to make twinkies read increase productivity if the company manages to make to twinkies instead of one with the same resources alice will make a dollar and fifty cents instead of just fifty cent one dollar times to twinkies minus fifty cent wage cost of bob equals a dollar and fifty cents but if price quickly drops as productivity of twinkies doubles i e. The twinkie price deflates to fifty cent. Alice would still just make fifty cent after going through all the trouble to increase productivity the revenue doesn't increase to twinkies times. Fifty cent equals a dollar while wage cost is still fifty cent
Bitcoin Audible
"audible" Discussed on Bitcoin Audible
"As a money because of its naive. Monetary policy many people think government printing too much as evil so a fixed money supply must be good the reality a money that cannot expand would crush the economy and put us all in poverty. Here's why and how to fix it. This one's gonna be fun. The best in bitcoin made audible. I am guy swan and this. Is bitcoin audible. What is up guys. Welcome back to the show this bickering audible. And i am guy. Swann v guy who has read more about bitcoin. Anybody else you know. I hope everyone had.
Software Engineering Daily
"audible" Discussed on Software Engineering Daily
"Very different song than fancy. So i hope you enjoy it alone. man her Did uh-huh open source..
Audible Orgy
"audible" Discussed on Audible Orgy
"Back. The hours was one day. Lord i just want to limits by me a durant and i'm not least high. You get that much money and you worked twelve hours for the year. Like okay guy. I'm not doing right. Why will let me ask this question. To what extent can we still blame society or the inequality in the society to our problems. We can blake society and still perpetuating this whole process in this course and that's why the question because yeah we could blatant but at what point do we take responsibility. Wreckage interational curse. But you sitting up. You're waiting you know what i'm saying like come on now. You know one hundred dollars jen. It don't make sense. It's like is the idea that the money is free money in this attached to end slave labor. Like is that what it is that so that is so appealing to us because it's not attached to labor. Is that if not our free money if money you notice. They didn't give us no interest on monday. Talked to from us know right you rate for money with interest put metal spring ritual interest. Dammit i want it back with interest they will they interest like a work both ways and i need like quit khwaja job and they expect it's two week notice to lead us love. You just walk out of.
Audible Orgy
"audible" Discussed on Audible Orgy
"Ambassadorship. First of all. I know nike brand is all. I'm saying. I talked about the lack of assault yoga looking like a bottle of pet though. That's the that's that iky bottle though. Bizmap being you know what i'm saying. I think hater nike. Anna's highlights girl. I wanna in autumn saying you want a real brand supporter. I'm your girl with beautiful people. Girls sat with my boy. Sit episodes mobile brand new season right. Can you believe the people ask people weird these days so. I'm not surprised that weird that people got right right. You can't explain. All you know is gotta have. I like that man. Listen i don't wanna waste eighty five getting looking at the main ones like we did this moving because y y'all when i tell you this woman. She probably needs to consider a career in comedy. I so fucking hilarious and she just telling the truth and that's the funny part about it. She just intrude man. Okay so we go ahead and get into the mommy. My girl shandra gorgeous. She is like a reagan consultant guru. She came up and she's the founder of the shandra gore consultant agency. She's a publicist. I mean she is like more world renowned the president she plays out a dc. She produces books. Podcast productions tapes. Anything that you need a she got you jolla that that asset. Not the one thing that you focused on new us out.