327. Principles of Economics Lecture 15: Monetary Expansion

Re:other nodes and making news, you're clearly not watching Eric Voskuil on Twitter. Libbitcoin 4 just did IBD in 14 minutes on a consumer connection (with assumevalid height of 950k) and 55 min for full validation. Older than Knots, and older than Core being called, well, Core. They slept for a good few years but are waking up with a vengeance.

Thanks for removing the friction from consuming Mises.

Ben, if you see bears in the future, give them something they'd want instead of grapes. Picnic baskets.

Ben's the Boy who cried Bear. Haha.

Welcome back Walker, congrats on the bigger family Also, xpubs will only give unhardened addresses. That said, I expect a Venn diagram of people who didn't roll dice and people using hardened addresses is probably two separate circles.

This is sweet, thanks for covering this. Been getting excited listening to @npub1v25jqj332… talk about Stratum v2 for a while now. Nice to see it in action.

Welcome back

People would hit me with things suggesting Slackware to a Linux beginner, but you seem keen on appropriately following documentation, and it's got some of the best documentation, and very vanilla software which makes using upstream documentation easy to use too. Some key audio thoughts too. https://web.archive.org/web/20260426090835/https://blog.sla… Doing your work you may want more than the standard pulseaudio back end.

Robinhood's 'tokenization' sounds more like an Exchange Traded Note (ETN) that is just a liability of Robinhood and traded on chain. These aren't new, but putting them on chain is. The SEC is talking more about trading actual stock ownership using the chain as a ledger. Very different despite the similar performance in ideal circumstances. If the stock goes up but robinhood goes under, you are out, while with the shares the SEC is talking about, you're good. Maybe a little market downtime, but you'd just get regular shares with SIPC coverage.

'Rear admiral' 😅 Tom Luongo calls him Big Gay Patton. Still amused Trump brought us the highest ranking gay man in American history.

The outernet stuff you're looking for the name of is Reticulum I suspect. Works over lora, Bluetooth, wifi, TCP/IP, ham radio (illegally -- its encrypted), wires...pretty much whatever you want. FIPS is another cool one you should all look at. Turns your npub into an IPv6 address. Talk to @npub1dergggklk… and Max Hillebrand

Hope this counts as a replacement for lost sponsor revenue per this listener.

The cloak and dagger shit with Switck is heating up. People were already looking for a reason for this to be inside. Still not totally convinced but it looks sketchy as fuck. Never been more glad I had fun playing dice games with my bitcoin.

Boston Bitdevs is coming up on July 30 at MIT Building 4. Be sure to RSVP through bostonbitdevs.org (or with the link if David wants to put it in notes). https://app.evento.so/e/evt_3M48gmwDKdbzNc63 Come with questions!

One of the best WBD's yet. Dines' coverage of the Eurodollar mechanics here and the shift that happened with LIBOR to SOFR is something far too few people are talking about (Luongo notwithstanding).

MOAR LUONGO

One of the best podcasts on the technical sides of Bitcoin I've encountered. Helps explain why IBD is taking forever on my raspi 4.

The thing about Bitcoin wallets is, you can have more than one. Soapminer? You're paying Lightning. Rent? Maybe a hot wallet, or single sig. Retirement savings? Multisig offsite. Generational wealth? You're adding miniscript. You don't keep are your fiat in your pocket. Don't do it with your Bitcoin either.

Welcome back! Your break sounds like it was good. Missed your updates.

Infinite divisibility would be cool but floating point math is all sorts of problematic. Infinite divisibility is trivial on L2+ though as it is.

He doesn't believe there was ever a major improvement to Bitcoin, but wants payment rails. Yea, tell me you don't understand Segwit without saying so, especially while touting Lightning's use. Not surprised here.

The worst possibly blow arguably would have been nonce reuse. That'd have hit even the dice crowd.

ACK to more students coming out. Did you not hear @npub1fhmmgwe6f… say there's free food?😄 But seriously pushing the conversation back into classrooms and engaging other academics helps engage more valuable resources. Student engagement disporportionaly can help move the needle. Besides, the more you're into bitcoin when you're a student, the more you're retired when you're 45-50.

OpenArena is still out there and the zoomers can get off my lawn if they think I'm giving it up. All the Q3 stuff is free on archive.org too, including team arena. Fortnite is very centralized and permissioned. But Minecraft would work. Java version anyway, Idk about bedrock version.

A hard fork WILL be what saved bitcoin, if it is saved. If only because of the 2106 problem requiring it.

I don't get why everyone says random generation was the most important task. It'd have been a better signer than any on the market if it didn't have an RNG at all. It was a task that if you're gonna do has to be done right though.

A hung jury isn't an acquittal, it's a mistrial. Jurors aren't voting, they're deliberating to arrive at consensus. If they can't, it's a do over. Double jeopardy only applies if a verdict is reached.

The Jade and Jade Plus use ESP32 microcontrollers. Just FYI.

Your analogy is odd given that the twentyfirst amendment struck the 18th amendment from the constitution... The issue with 110 is that it was ineffective and targeting an issue that barely qualifies as one. 4 MB is 4 MB.

The point of airgapping isn't that QR'sbor SD cards are inherently more secure than USB or Bluetooth. It's that the amount of data is far more limited and easier to audit with lower tech methods. If you ask me floppy disks would be even better, as SD cards have firmware that could be an attack vector. But floppies are prohibitively hard to implement in 2026.