600: Everyone, Everywhere, All at Once

Boost just because it’s Wednesday!

Screw it! I’m blowing the whole boost budget on TWIB this week. Another newbie corner idea: what’s the difference between the different address/wallet types? I still use some “legacy” wallet addresses but some things I’ve read seem to suggest changing that. I find it confusing. From what I can tell there’s wrapped segwit, native segwit (which may or may not be the same as bech32, idk), and taproot. I found an article about switching to taproot on stacker news. It mentions that the others are more expensive and will continue getting more expensive over time, but I’d love to know why that is and if there’s ever a reason to choose one of the other options or if taproot really is the best, etc.

Finished the episode and feeling the need to send in extra value after that boost segment. I wanted to boost about newbie corner anyway. I would love a holiday special episode that goes over some of the logic behind your setup. What I wanted to ask you about, that I think could go with a holiday special, has to do with cold storage. I have a new cold card mk4 that I want to move my cold storage to, but I can’t decide how I want to balance backups and security. I’d be interested to hear how your thoughts change when thinking about individuals protecting their wealth as well as small business. Preferably, I’d like something that my wife could handle if me and the hardware wallet were to suddenly vanish. If something terrible like a house fire happened, and I didn’t make it, she could not access our money, the way it’s set up right now.

Hi Chris, I just started the episode but I forgot to boost last week so I wanted to fire some value back your way.

Boost!

Just noticed I received errors on earlier boosts. I’ll boost extra later. No biggie.

On a different note, my nix-Bitcoin node is working out great! I love how intense the security defaults are. I even have it routing through a tiny linode! That was a challenge all by itself but we got there. Is the JB server Jupiter01? I enabled tor and stuff but kept getting connection errors when I tried to open a channel. I’m trying to do my part and provide some of that sweet sweet liquidity.

For some reason River’s KYC rejected me and wouldn’t let me try again for 30 days. I ended up just going with Swan and never tried again. I’ve never had a KYC issue with any other company, before or since, but I’d really rather be a River customer than a Swan customer right now.

Chris, your timing is hilarious. Despite nearly constant reminders from my wife, I put off dealing with old retirement accounts for TWO YEARS, and finally got around to it last week. I decided open 401k and Roth IRA accounts with Swan Bitcoin. I use Swan to DCA, so it was convenient, and it allowed me to put this money in Bitcoin without taking a big tax hit. I’d heard some of the drama, but didn’t think much of it until hearing this episode. I agree with your analysis though, all these little turd nuggets are adding up, and it’s starting to smell like a full-blown shitstorm. As I type this boost, I’m looking at two checks made out to a Ripple-owned crypto bank, per Swan’s instructions. I have to admit, I’m starting to have second thoughts.

Heard it on the This Week in Bitcoin podcast.

First, enjoy the vacation, it's well deserved. Second on Ace's thought on the Amazon coin, I agree with his assessment but I think the real play will be the interest. They will treat the Amazon coin like a gift card where you deposit money with the company and redeem it later, and in that in-between time the company is accruing interest. Starbucks is rivaling some banks with their gift card interest bearing holdings and I'm sure Amazon is not far behind them.

Also the 444 locking up utxos is the stupidest thing I've heard. If I'm a bad actor I'm not doing that kinda thing with my life saving stack. I'm using a wallet I just made and a hand full of sats from a BTC ATM.

I think if Trump was serious about bringing back manufacturing to the US you would see those around him investing in that sort of thing. This would be the investment opportunity of a lifetime. Instead you see those folks going to him to get special deals and exemptions to keep doing what they are doing. It's all about being the gate keeper and having control and not about setting American up for success.

Hi Chris, I really appreciate everything you do and the work you put into the show. I hope this value makes it a little more worth it for you. TWiB is one of the best bitcoin shows on the internet! Let’s get these numbers up, boys!

Great show as usual! Thanks for the value! Even if Bitcoin is flat for another quarter or two, TONS of great work has been happening. It just gives us plebs more time to DCA at these super low prices!

Hey Chris! Great show! Regarding the age vs gold standard stuff, I more or less agree with you, I just see it a little differently. Instead of time since 1971, I think of it as “time spent on a fiat system”: They blow up 100% of the time, so the longer one goes, the more messed up and prone to failure it is. Going off the gold standard allowed for more creative ways to keep the charade going. Also, consider the incentives of fiat. It basically incentivizes everyone to buy up all the resources as quickly as possible. The longer you hodl dollars, the less you get when you spend. Of course people are going to buy up and hoard all the scarce assets they can, it makes for better money than the money! We live in a clown world, I swear. 🤡 Keep the excellent Bitcoin content coming! I loved the bonus ep! I’d happily pay for bonus conent again. ❤️

I might be biased, considering I’ve “nix-ified” nearly every device in the house, but I’ll add a big +1 to nix-bitcoin. It’s been rock solid for me. I deployed it in a NixOS container a couple years ago, and I just did another major version update on it a couple nights ago. The update went super smooth, no issues. After a quick reboot, everything was back up, including the lightning channel with your node. Nix-Bitcoin is awesome!

Excellent episode, as usual! I think you’ve hit the nail on the head about BTC loans. I believe it’s going to be a massive market. I need one myself, actually. Last year, I had some cash set aside to buy a car and went to some dealerships, but right before I pulled the trigger, Uncle Sam hit my wife and I with a massive tax bill. It was our first full year living and working in WA, and I guess my wife wasn’t paying enough in taxes out of her paycheck. Wiped out my whole car fund. Luckily, I was listening to TWIB, and stacking sats. So, it didn’t hurt as bad as it could have, but now I need one of those BTC loans. I am highly interested in the subject either way, so thanks for covering these important topics!

You mentioned the JB website in this episode, and it reminded me of Office Hours. I know it's on hiatus, but it would be awesome to have a new episode that talks about how the websites doing, and how features like self-hosted RSS is coming along! Maybe there could be a "Office Hours Tax" on each JB show, were a small split goes to the Office Hours fund? (Also, this is a Star Trek boost, since the original is under the sat limit)

Surprise surprise, I'm still making my way up to the current episodes lol. Lesson for everybody, do not ever get behind! I think I've been catching up since The Bitcoin dad pod. It's been a while since we had a good old-fashioned Chris soap box! I enjoy them for no other reason than you are clearly passionate, and in this case people are actively (while maybe accidentally) advocating to keep podcasting stagnant. Keep up the good work!

PSA: There is NO mobile Sparrow wallet. If you see a mobile wallet with Sparrow branding it is a SCAM! Thanks for the value. Stay safe out there.

I managed to avoid getting any funds stolen, but I still regenerated a bunch of wallets, and not just the CC, as a result of all this. Thanks to the inspiration from LUP, I decided to build an offline NixOS ISO with sparrow, and a custom script I wrote to generate seed phrases, using /dev/urandom. It worked like a charm, and I can be quite sure no one else creates wallets like I do. 😂 Thanks for the value!

Love the bonus content! It was great seeing you guys at Linuxfest! Have a good LUP today!!

I connected Fountain to nostr with my own relay and all that and took the opportunity to change my name to better reflect who I am as a person. :P Before, I was boosting as ByteBandit. The name change seems to have changed my 100k boost to Anonymous, so I figured I’d boost back in with my new name. I’ll also send you a message on matrix as proof. In the last episode, you mentioned nix-Bitcoin, which I have been experimenting with for a while. I would love to see what you’ve got going on, if you’re able to share that config. If not, no worries. Either way, hit me some mac&cheese, please. ;)

42 seems like the perfect episode to boost for the first time using sats sent from my self hosted alby mode hosted on my start9 pure to my fountain wallet. Sorry I've been away and unable to boost but start9 had a sale going and I was stacking every day I could to take advantage of it and then I ran into some technical difficulties during my server setup, let's be honest mostly between the keyboard and chair. Good to be back and self sovereign. And I'm honor of episode 42, don't forget your towel!

Boost!

I was pro Bitcoin prior to this, but operation choke point was what turned me into a Bitcoin hardliner. Also first boost from my start 9 Alby hub connected to fountain. It took several sessions with ChatGPT to figure out the issues but if you're reading this then it finally worked.

I have ADHD and use podcasts and audiobooks to help me focus at work, video just distracts me and so I never use it. That being said if others would like video I'd have no issue with it so long as you remain an audio first show. I've given up on a few long time listens due to the hosts moving to a video first mindset and making the audio a waste of time to listen to, I'd hate to see that happen to TWIB. tl;dr: Video is a fine addition, as long as you keep an audio first mindset.

While I do believe that the establishment Democrats are anti-bitcoin, I don't think the El Salvador investigation is just about the use of Bitcoin. While I'm sure the use of Bitcoin is a factor it may just be a convenient way to mask their true intention of driving a wedge between El Salvador and the current administration over the migrant detention center. Then again this is the Dems we're talking about so they may just have their "Bitcoin bad" blinders on and are just taking any opportunity to attack Bitcoin.

Congratulations on episode 60!

Wicked good show. Have a good trip. No spam on the chain.

Production funding boost.

Just another boost