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The Bitcoin Thread

24,829 Views | 347 Replies | Last: 1 yr ago by Fireman
Deluxe
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AG
I'm starting a separate Bitcoin thread, partially to de-clutter the crypto-trading thread and partially to consolidate all the Bitcoin specific conversation in one place.

The main purpose of this thread is to educate on Bitcoin, discuss Bitcoin-related current events, and offer a Q&A forum for anyone new to Bitcoin or just trying to understand it better fundamentally.

Bitcoin at a high level:

How Does Bitcoin Actually Work?
In depth video that explains how Bitcoin fundamentally works.

The Bullish Case for Bitcoin
Long form article written by Vijay Boyapati that summarizes Bitcoin's advantages relative to historical stores of value.

A Blockchain Centralization Dilemma
Excellent piece by Lyn Alden that discusses Bitcoin's proof of work protocol relative to the thousands of proof of stake replicas and why they should be thought of totally different investment classes.


Deeper Bitcoin educational references:

Gradually, Then Suddenly by Parker Lewis
A 16 part essay series that addresses Bitcoin's fundamentals and addresses its key concerns.

Saylor Series: Bitcoin for Everyone
Coursework style online learning about Bitcoin. Very useful.

Saylor Series: Bitcoin for Developers
If you finish the Bitcoin for Everyone coursework and want a more advanced/tech-focused tutorial, this is a good resource.


Recommended books:

The Bitcoin Standard
The Fiat Standard
Digital Gold by Nathanial Popper
The Blocksize War by Jonathan Bier


Other interesting content:

Jack Mallers Pomp Interview
Mallers discusses the potential of the Bitcoin Lightning network to achieve instant/basically free international monetary settlement.

Michael Saylor Tucker interview
Saylor discusses Bitcoin as monetary energy, digital property, etc.

Bitcoin Mining Fixes Texas Electric Grid
Ted Cruz, among others, discuss why Bitcoin mining resolves critical issues facing ERCOT and paves the way toward a sustainable energy future.

ac04
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good list. i would add Layered Money to the recommended books and Bitcoin Common Misconceptions to the interviews.
Deluxe
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AG
ac04 said:

good list. i would add Layered Money to the recommended books and Bitcoin Common Misconceptions to the interviews.
Thanks. Definitely want this to be open for everyone to share additional material that has helped them understand Bitcoin.
topher06
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Good idea.
Its Texas Aggies, dammit
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AG
1/31 Fidelity article: Bitcoin First

Main points:

  • Bitcoin is best understood as a monetary good, and one of the primary investment theses for bitcoin is as the store of value asset in an increasingly digital world.
  • Bitcoin is fundamentally different from any other digital asset. No other digital asset is likely to improve upon bitcoin as a monetary good because bitcoin is the most (relative to other digital assets) secure, decentralized, sound digital money and any "improvement" will necessarily face tradeoffs.
  • There is not necessarily mutual exclusivity between the success of the Bitcoin network and all other digital asset networks. Rather, the rest of the digital asset ecosystem can fulfill different needs or solve other problems that bitcoin simply does not.
  • Other non-bitcoin projects should be evaluated from a different perspective than bitcoin.
  • Bitcoin should be considered an entry point for traditional allocators looking to gain exposure to digital assets.
  • Investors should hold two distinctly separate frameworks for considering investment in this digital asset ecosystem. The first framework examines the inclusion of bitcoin as an emerging monetary good, and the second considers the addition of other digital assets that exhibit venture capital-like properties.
Its Texas Aggies, dammit
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AG
Deluxe said:

I'm starting a separate Bitcoin thread, partially to de-clutter the crypto-trading thread and partially to consolidate all the Bitcoin specific conversation in one place.

The main purpose of this thread is to educate on Bitcoin, discuss Bitcoin-related current events, and offer a Q&A forum for anyone new to Bitcoin or just trying to understand it better fundamentally.

Bitcoin at a high level:

How Does Bitcoin Actually Work?
In depth video that explains how Bitcoin fundamentally works.

The Bullish Case for Bitcoin
Long form article written by Vijay Boyapati that summarizes Bitcoin's advantages relative to historical stores of value.

A Blockchain Centralization Dilemma
Excellent piece by Lyn Alden that discusses Bitcoin's proof of work protocol relative to the thousands of proof of stake replicas and why they should be thought of totally different investment classes.


Deeper Bitcoin educational references:

Gradually, Then Suddenly by Parker Lewis
A 16 part essay series that addresses Bitcoin's fundamentals and addresses its key concerns.

Saylor Series: Bitcoin for Everyone
Coursework style online learning about Bitcoin. Very useful.

Saylor Series: Bitcoin for Developers
If you finish the Bitcoin for Everyone coursework and want a more advanced/tech-focused tutorial, this is a good resource.


Recommended books:

The Bitcoin Standard
The Fiat Standard
Digital Gold by Nathanial Popper
The Blocksize War by Jonathan Bier


Other interesting content:

Jack Mallers Pomp Interview
Mallers discusses the potential of the Bitcoin Lightning network to achieve instant/basically free international monetary settlement.

Michael Saylor Tucker interview
Saylor discusses Bitcoin as monetary energy, digital property, etc.

Bitcoin Mining Fixes Texas Electric Grid
Ted Cruz, among others, discuss why Bitcoin mining resolves critical issues facing ERCOT and paves the way toward a sustainable energy future.


I'd add the Price of Tomorrow by Jeff Booth. It does not talk much about Bitcoin, but it does lay a foundation for why Bitcoin is needed and will be significant.
Deluxe
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AG
Its Texas Aggies, dammit said:

1/31 Fidelity article: Bitcoin First

Thanks for posting this. All I had was a pdf version and couldn't find the link. Read it this morning. Really good stuff.
Decay
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AG
Thanks for the links. I'm glad we finally have a poster that advocates for BTC around here *ducks before Admin Errors throws a table*
administrative errors
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The sovereign individual* add that to the list. It's amazing how prescient the book is despite being written decades ago.

Sapiens is a good one in general.
administrative errors
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administrative errors
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Staff: pin the thread and actively remove trolls please
administrative errors
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Endthefud.org is another one

And if you want a talk-radio-esque experience listening, bitcoin Twitter spaces and clubhouses are exceptional and have very helpful, willing participants to bring you attention to the appropriate resources for clarity.
Pepper Brooks
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AG
My contribution to this is an entire podcast… Bitcoin Audible by Guy Swann.

There is enough content here to last you all of 2022.

https://open.spotify.com/show/16c6WR2znCZM1wveeeJoSz?si=MR1odQPsSvS6tv3dp8QVTQ
“There is no red.
There is no blue.
There is the state.
And there is you.”

“As government expands, Liberty contracts” - R. Reagan
jagvocate
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AG
I'm wishing all Aggies well in their crytpo adventures

Just don't forget that physical assets will have a value in the future as well
administrative errors
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Andreas antonopolous, any of his videos, all of his books
Once bitten podcast
Bitcoin rapid-fire


Btc Twitter is the best resource for instant global news and trends, usually it'll be on Twitter and then 2-3 days later hits mainstream.
administrative errors
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Bitcoin is an ADDITIONAL and, personally, a primary vehicle and everything else is secondary, but pertinent.

That's my opinion. Get bitcoin, learn to be independent, grow your independence and expertise and contribute to your home/community as needed.

Bitcoin is the oxygen mask, as the globe resets itself.
Pepper Brooks
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AG
I have too many BTC podcasts as it is… which one(once bitten or rapid fire) do you like better?

“There is no red.
There is no blue.
There is the state.
And there is you.”

“As government expands, Liberty contracts” - R. Reagan
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administrative errors
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Eh, I don't listen to too many podcasts unless they are talking about or to someone interesting.

Subscribe to andreas, the others are just extra content/news/etc andreas is the bomb. Hell of an educator.
YouBet
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I just read the Fidelity article. Really good intro article. Covered a few things I hadn't read yet. Was surprised they didn't address everyone's primary argument against BTC which is volatility.

I'm 27% done with The Bitcoin Standard. Haven't even gotten to the later chapters on actual Bitcoin. I highly recommend that book even if you read it just for its history of money and its interaction with government and economics.
Deluxe
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YouBet said:

I just read the Fidelity article. Really good intro article. Covered a few things I hadn't read yet. Was surprised they didn't address everyone's primary argument against BTC which is volatility.

I'm 27% done with The Bitcoin Standard. Haven't even gotten to the later chapters on actual Bitcoin. I highly recommend that book even if you read it just for its history of money and its interaction with government and economics.
Here's how Parker Lewis addresses the volatility question with his clients at Unchained:

https://nakamotoinstitute.org/mempool/bitcoin-is-not-too-volatile/

administrative errors
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Would you buy/wear a watch that vibrates/dings when each block is mined?
administrative errors
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NTXAg10 said:

I have too many BTC podcasts as it is… which one(once bitten or rapid fire) do you like better?



Forgot Saifedean Bitcoin standard podcast is excellent as well.
administrative errors
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FAT SEXY said:

Any good links for a beginner's mining guide/setup?

I've found the most useful information on Twitter.

Steve Barbour builds weatherproof black boxes for miners to reside outside your home, I'm considering going that route.

There's also a few regular clubhouse channels where you can talk to very well experienced miners.
Its Texas Aggies, dammit
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AG
NTXAg10 said:

I have too many BTC podcasts as it is… which one(once bitten or rapid fire) do you like better?


The weekly bitcoin episodes of We Study Billionaires by Preston Pysh are my favorites.

For a Christian perspective on Bitcoin, I like the Bitcoin and the Bible podcast.
YouBet
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AG
administrative errors said:



Would you buy/wear a watch that vibrates/dings when each block is mined?
Ha. That's a bit much for me. Granted, I suspect Apple could add a setting for this if they wanted to.
Pepper Brooks
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AG
I'm on that one too. All of their stuff is good, not just BTC.
“There is no red.
There is no blue.
There is the state.
And there is you.”

“As government expands, Liberty contracts” - R. Reagan
administrative errors
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Preston is a good listen as well. I like listening to him live on Twitter spaces.
administrative errors
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Advanced topics that I haven't dropped into yet wholeheartedly:

Taproot upgrade
Sovryn
Liquid
And the other layer 2 bitcoin opportunities being built.
Its Texas Aggies, dammit
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AG
Favorite follows on Twitter (some are obvious):

Croseus
Michael Saylor
Plan B
Greg Foss
Jeff Booth
Preston Pysh
Jimmy Song
mrmill3218
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AG
Plan B has lost all credibility after his wild predictions.
Its Texas Aggies, dammit
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mrmill3218 said:

Plan B has lost all credibility after his wild predictions.
I agree his model is not what people hoped it would be. I still find him interesting.
Deluxe
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AG
I would look at Plan B's S2F analysis relative to each halving cycle rather than from month to month. His S2F model still be right, he just got out over his skis with his year-end 2021 predictions (as did a number of other analysts).

The beauty with Bitcoin is that the short term predictions ultimately don't matter. I would discourage people from paying attention to them. The market moves in the short term based on whale manipulations and over-levered derivative position liquidations. It wouldn't surprise me if some sophisticated traders with big bags used exuberant price predictions against the market.
Its Texas Aggies, dammit
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administrative errors said:

NTXAg10 said:

I have too many BTC podcasts as it is… which one(once bitten or rapid fire) do you like better?



Forgot Saifedean Bitcoin standard podcast is excellent as well.
I forgot one I think may be the best: Blue Collar Bitcoin. Two firemen from suburban Chicago. Down to earth and practical. Just about the opposite of Robert Breedlove.
administrative errors
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His model was imo stolen from the rainbow model, but I think technical anal is for schmucks, no offense, and would rather the time spent learning technical anal to become entrepreneurs with that free time instead, bringing something positive forward with your time, not making money off money.

But hey I'm not making bookoos of bits like some of these front-running Telegram-channel, selling report building gatekeepers of technical anal. Maybe this is how I express bitterness after wasting a year of my life pursuing this only to be left empty and tired from not sleeping "might miss something" since markets are 24/7/365....

Also I don't recommend spending your bitcoin on a hemp farm unless you're a masochist like me.
 
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