Episode 109: Maliable Guildlines

Bitcoin Dad Pod

Pre-Show

• ETF hype fading?
• End of an 8 day approval window

• Bloomberg's James Seyffart says still a 90% chance approval by Jan 10th 2024.

• James Seyffart on X

"Okay, we're nearing in on deadline dates for 3 spot #Bitcoin ETF applications. I want to get ahead of it because there's a pretty good chance we'll see delay orders from the SEC. Delays WOULD NOT change anything about our views & 90% odds for 19b-4 approval by Jan 10, 2024

• Bitcoin News on X

JUST IN: @EricBalchunas of Bloomberg reports that the 🇺🇸 SEC is advising spot #Bitcoin ETF issuers that they prefer cash creations over in-kind creations for these ETFs.

Cash "creates" mean the issuer would transact in cash instead of using #Bitcoin directly. The SEC prefers cash creates because broker-dealers can't directly handle Bitcoin.

This move is seen as a positive step indicating progress in the approval process, despite the potential need for adjustments by the ETF filers.

• Bitcoin Archive on X

"CNBC host questions why the SEC hasn't approved a spot #Bitcoin ETF because Chairman Gary Gensler certainly understands Bitcoin. “He taught Bitcoin at MIT, he understands it…there has to be something else." I wonder… 🧐

News

Economics

• Consumer inflation in the US is moderating as consumers get poorer, but the monetary base continues to rise due to government spending

1. Car Insurance Inflation: 19.2%
2. Car Repair Inflation: 9.6%
3. Transportation Inflation: 9.2%
4. Rent Inflation: 7.2%
5. Homeowner Inflation: 6.8%
6. Food Away From Home Inflation: 5.4%
7. Cereals & Bakery Products Inflation: 4.2%

• While CPI inflation is at 3.2%, inflation is much higher in many basic necessities

• Crypto Tea on X: The problem with bitcoin.

I bull post often but I want you to be aware of the problems with decentralization people have found a way around bitcoins rules to post pictures and memecoins on the blockchain there are currently 300,000 pending transactions, fees are spiking to $12

• Bitcoin Average Transaction Fee

Bitcoin Average Transaction Fee is at a current level of 18.69, up from 8.776 yesterday and up from 2.207 one year ago. This is a change of 113.0% from yesterday and 746.9% from one year ago.

Privacy

• Swan Bitcoin to Limit Customers Interacting with Privacy Services Due to Partner Policy

"Please be advised that depositing directly from, or withdrawing directly to, a mixing wallet may result in the termination of your account with our banking and custodial partners," the company added.

• FinCEN Seeks to Impose Strict Surveillance Requirements onto Broadly Defined Class of 'Bitcoin Mixers'

FinCEN emphasizes that Convertible Virtual Currency [CVC] mixing does not fully rely on the use of CVC mixers and include the following methods:

1. Pooling or aggregating CVC from multiple persons, wallets, addresses, or accounts.
2. Splitting CVC for transmittal and transmitting the CVC through a series of independent transactions.
3. Using programmatic or algorithmic code to coordinate, manage, or manipulate the structure of a transaction.
4. Creating and using single-use wallets, addresses, or accounts and sending CVC through these wallets, addresses, or accounts in a series of transactions.
5. Exchanging between types of CVC, or other digital assets.
6. Facilitating user-initiated delays in transactional activity.

• Open source journalist Jameson Lopp (among other things) has been tracking physical attacks on bitcoiners, in case you need more incentive to work on your privacy online

• 810 million Indian citizens have been completely doxed in a database hack

• HRF, a human rights foundation focusing on economic freedom, has launched a global CBDC tracker

  • Evaluates projects by launched, pilot, or research
  • Quantifies rule of law and other variables (not sure how) of respective countries

Altcoins

• And the prize for most hypocritical altcoiner goes to Nouriel Roubini, a rabid bitcoin critic and well known mainstream economist, with his announcement of an AI and 'green tech' powered crypto token, it's a terrible idea but the takeaway is that EVERYONE is getting into 'stable' coins

Bitcoin Education

• A new opensource website for developers to document knowledge of bitcoin opcodes is a resource to better understand bitcoin script and proposed opcode changes

• Bitcoin optech #277 covers transaction malleability

Feedback

• Remember to get in touch [e-mail] or @bitcoindadpod on twitter

• Consider joining the matrix channel using a matrix client like element, details here

Boost links

• Energy Transition Crisis a documentary about the necessity of nuclear for carbon free energy

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Value for Value

• Podcasting 2.0 to support an indepenent podcasting ecosystem
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Sponsors and Acknowledgements

Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting