Bitcoin & Markets

In this episode I walk through an understanding of Liquidity and how the actions of the Federal Reserve can't increase liquidity and flow in the economy. I also give a quick definition of the REPO market and interpret it as a money substitute factory - a place that creates and destroys money substitutes. This is the consensus layer of the global financial system and how we need to define what money is. It's money substitutes that flow through the REPO and money markets. Mises on money​ substitutes https://wiki.mises.org/wiki/Money_substitutes Jeff Snider https://www.youtube.com/watch?v=OM_J-4fJYEk ​Excellent REPO market resource ​https://www.icmagroup.org/Regulatory-Policy-and-Market-Practice/repo-and-collateral-markets/icma-ercc-publications/frequently-asked-questions-on-repo/4-how-big-is-the-repo-market/ ​Highlighted Fed paper on Discount Window Stigma and how they try to address it https://hyp.is/go?url=https%3A%2F%2Fwww.federalreserve.gov%2Feconres%2Fnotes%2Ffeds-notes%2Fstigm

In Part 3, I answer some critiques and questions from the audience. The discussion on liquidity and Repo, the base layer of the Eurodollar system is now moved to Part 4 coming up soon. Questions from Epistemicrisis, Xan, CryptoGamer and Colin Harper. WTF is happening with the Fed?! - Is this inflation w/ Ansel Lindner - WTF 5  https://podcasts.apple.com/lu/podcast/wtf-is-happening-fed-is-this-inflation-w-ansel-lindner/id1459884105?i=1000472534928  Website: https://bitcoinandmarkets.com/e213

In this episode I tackle different types of money, debt, fiat and commodity monies. I discuss how they behave differently as a global money standard. Debt has a unique aspect of global deflation that's not shared with other forms of money. I discuss bailouts at money replacement, not money expansion. Finally, I wrap up with how this all ends.

In part one of this series I describe two important schools of thought on the global monetary system and the future of the dollar: the Dollar Milkshake and the Eurodollar. Then I try to establish a definition for inflation as a monetary phenomenon based on mainstream Milton Friedman, Mises and my own defintition. Lastly, I ask the question if what we think of as monetary expansion today, is actually monetary expansion. In part two, I'll discuss the differences I see between debt based money, fiat and commodity money. Website: https://bitcoinandmarkets.com/e211 Brent Johnson Dollar Milkshake:  https://www.youtube.com/watch?v=2qTOWuL7Zco  Jeff Snider Eurodollar University:  https://alhambrapartners.com/commentaryanalysis/  Milton Friedman: https://hyp.is/noW7qIMXEeqhrfee8b0bew/en.wikiquote.org/wiki/Milton_Friedman  Mises:  https://hyp.is/GEy2cIKmEeq7Nh9KeQH1ug/mises.org/library/economic-freedom-and-interventionism/html/p/123 

Hi Bitcoiners, I'm reading through my Friday newsletter The Fundamentals Report along with my extra commentary. Topics covered are the virus and effects of lock downs and shortages in gold and the dollar. I also talk about how bitcoin fits into this market. Show notes post: https://bitcoinandmarkets.com/e210/ Report: https://bitcoinandmarkets.com/r83/

In this episode I discuss the bullish case for bitcoin being driven by QE but not via a weaker dollar. The dollar will continue to strengthen in a volatile way. Bitcoin will be bid because the traditional market will get worse and worse at price discovery and bitcoin will get better and better. I bring in two articles. The first one is about China's consumer credit bubble popping and the second is about primary dealers in Japan refusing to sell their JGB's to the Bank of Japan. That effectively stops QE as a weapon of the central bank. The primary dealers would rather use their JGB's in dollar swaps with the Fed. China consumer credit: https://www.zerohedge.com/economics/scope-pain-immense-chinas-consumer-default-tsunami-has-started Japanese bonds: http://archive.vn/ao4qM Website: https://bitcoinandmarkets.com/e209

In this episode I use a tweet by Pierre Rochard and a video from Daniel Hannan as a jumping off point to talk about globalization, the growing distrust in our institutions, non-monetary rewards, and what this current crisis will lead to. Links: Pierre's tweet: https://twitter.com/pierre_rochard/status/1242103963287203840 "If everyone added to their cash balances during the good times, they wouldn't need to beg politicians and central bankers for bailouts during the bad times. But inflation penalizes cash balances. This is why we #Bitcoin." Daniel Hannan video: https://www.youtube.com/watch?v=94lW6Y4tBXs Website: https://bitcoinandmarkets.com/e208

In this episode, I break the news that the Fed has cut interest rates to zero and launched QE 5. The Fed is not in charge of interest rates, they follow the market. Interest rates were already close to zero in the market, so this move by the Fed was reactionary. They have lost control. I also talk about currency swaps and how to position yourself for the coming financial reset. Image link: https://bitcoinandmarkets.com/wp-content/uploads/2020/03/ust-vs-fed-funds.png News article: http://archive.vn/H92Ea Transcript of rate cut: https://www.federalreserve.gov/newsevents/pressreleases/monetary20200315a.htm Highlighted transcript of rate cut: https://hyp.is/go?url=https%3A%2F%2Fwww.federalreserve.gov%2Fnewsevents%2Fpressreleases%2Fmonetary20200315a.htm&group=__world__ Transcript of liquidity announcement: https://www.federalreserve.gov/newsevents/pressreleases/monetary20200315c.htm

In this episode I discuss ideas around the misunderstood concept of 51% attacks in mining, drawing inspiration from a tweet by @SGBarbour. Tweet: https://twitter.com/SGBarbour/status/1231344795991175168 Website: https://bitcoinandmarkets.com/e205  

In this episode we discuss the historic times we are living in, focusing on the evolving situation and effects on the markets of the coronavirus. I touch on the stock market, bonds, yield curve, prepping, what you should expect to develop over the next few months. We also speak briefly on the bitcoin price, why it's falling, and what we can expect over the next few weeks going into the halving. https://bitcoinandmarkets.com/e204 https://patreon.com/bitcoinandmarkets/    

On this episode I walk through a very deep tweet that will help us understand multiple assets on one chain. These I call these non-native assets and they have non-native incentives. I bring in many connected ideas and try to make sense of it all. @BobMcElrath tweet: https://twitter.com/BobMcElrath/status/1231633707406151681  

In this episode I talk about the recent proposal to offer a "safe harbor" to ICO scams for 3 years. This proposal was put forth by Hester Pierce, a previously bitcoin friendly Commissioner at the SEC. I question the intentions behind this proposal and the totality of the SEC's actions in the space. Article link: http://archive.ph/8bq9n

This is a quick discussion on how the coronavirus is affecting bitcoin mining in China and the price. I give you an update on the virus and then read a couple articles, and finally discuss the economics of supply and demand in the shadow of the third halving. Articles mentioned are: Decrypt  https://decrypt.co/18609/coronavirus-shuts-down-chinese-bitcoin-mine  Coindesk: http://archive.ph/23BUf 

Hello Bitcoiners! I'm back with a short discussion of the Tron vs ETH2.0 debate. Is Tron better or the always delayed ethereum centralized ethereans? I give you a quick rundown of the situation and a based assessment. Bitcoin is King, Eth is a scam, Tron is a scam. We are seeing the beginnings of the scam coin conflict. Website: https://bitcoinandmarkets.com/e200 Article: https://cryptoslate.com/why-are-some-of-twitters-biggest-bitcoin-maximalists-shilling-tron/ NVK's tweet: https://twitter.com/nvk/status/1225980826325790720?s=20  

I go through as article from Coindesk that is very misleading about ETH2.0. Don't believe the hype. This is only phase zero they are trying to launch this year. Phase zero does nothing to immediate scale ethereum, it's only a preliminary step in an overly complex 5 year plan for ETH2.0.  Website: https://bitcoinandmarkets.com/e199 Article link: http://archive.ph/jCyKw Annotated article: https://hyp.is/go?url=http%3A%2F%2Farchive.ph%2FjCyKw&group=__world__ Parity client DAO: https://decrypt.co/14857/parity-steps-back-from-ethereum-moving-client-codebase-to-dao https://ethernodes.org/ Phase 0 details: https://docs.ethhub.io/ethereum-roadmap/ethereum-2.0/eth-2.0-phases/ Marty's thread: https://twitter.com/MartyBent/status/896775534658686979  

In this episode I go through Federal Reserve Governor Brainard's recent speech on Central Bank Digital Currencies (CBDCs). I cover all aspects but focus on money versus means of payment, free market value versus central planner force / central banker legal tender laws. Link: https://www.federalreserve.gov/newsevents/speech/brainard20200205a.htm

In this episode I discuss the bitcoin price in and where it's going. Bitcoin is in the big leagues and part of every important panel discussions and on the lips of every powerful financial person in the world today. Next, I talk about the upcoming bitcoin upgrade called Taproot. Show notes: https://bitcoinandmarkets.com/e197 Links: Taproot Taproot explanation

In this episode I discuss recent price movements and how they corresponded to the tense Iranian over the last week. I look into recent developments of State-sponsored stablecoins and detail the Baidu beta launch. Then I dive into the drama behind Nakamoto,com. Altcoiners using the term "pro-bitcoin" in a desperate attempt to extent their ponzi schemes. Lastly, I quickly talk about the halvening not being priced in. Links: https://bitcoinandmarkets.com/e196 Baidu network https://xchain.baidu.com/ New York Ledger https://decrypt.co/16155/new-yorks-lawmakers-are-pushing-for-its-own-cryptocurrency Nakamoto,com is a propaganda site https://twitter.com/Karalhoin/status/1213515397477150721 Veblen good https://en.wikipedia.org/wiki/Veblen_good Efficient Market Hypothesis https://en.wikipedia.org/wiki/Efficient-market_hypothesis 99% of altcoin volume is fake https://medium.com/swlh/how-to-better-estimate-bitcoins-true-trading-volume-by-fiat-currencies-and-against-altcoins-41623ddc9827

Discussion about the coming year and more for Bitcoin and this ecosystem. Topics include: The Halving Mining Tons on Lightning Altcoins Central Bank Digital Currencies Part 2 with discussion about the dollar and China can be found on my https://Patreon.com/bitcoinandmarkets

PRICE had 3 phases this year, 1) consolidation, 2) huge rally, 3) mini bear market FEES were very low all year, blocks full LIGHTNING First full year of mainnet wallets >3x growth Lightning Torch Watchtowers added to Lightning Loop in added to lightning Multi-part Payments added to lighting Hodlonaut Lightning bugs PLUG-N-PLAY NODES The rise of the plug and play node PRIVACY debates, privacy was enhanced in 2019 MISC QuadrigaCX Twitter and Square, Jack Dorsey #DeleteCoinbase Binance hack Tether and bitfinex CSW faketoshi sues everyone and gets owned in court Liquid tokens Plus token China block chain FUTURES Bakkt ErisX Binance/FTX Crypto Facilities/Kraken BitMEX seychelles CUSTODY Fidelity Coinbase/Xapo Bitgo/Kingdom Trust Swiss bank Vontobel GOV CRACKDOWN FINCEN threatens KYC IRS and other tax agencies start asking direct questions FBI says Bitcoin is a growing issue for them LIBRA and STABLECOINS CBDCs REPO market and the Fed