Episode 93: FedNot

Bitcoin Dad Pod

News

• Fednow, the Federal Resrves new payment system for instant payments, has finally launched with '35 early-adopting banks and credit unions, as well as the U.S. Department of the Treasury’s Bureau of the Fiscal Service'

• The US House of Representatives Fianncial Services Comittee, a House subgroup focusing on financial law, submitted a bipartisan crypto market bill to the Aggriculture Comitte (which oddly is above it)

  • This bill would then be submitted to the house, likely would not pass
  • Contains the language for ICOs to become sufficiently decentralized and graduate into commodities

Economics

• Commodity traders Goehring and Rozencwajg the patterns of commodity bull runs and the relation to shifts in global monetary standards
• Jesse Myers, aka CroessusBTC, observes the shifting Overton window of bitcoin and how very little interest it needs to get really bullish
• Dedollarization slowly proceeds with Argentina using Chinese RMB to pay off IMF debt

Privacy

• The Director of Investigations at Chainalysis, a blockchain surveillance and ant-privacy firm, unaware of scientific basis of their surveillance product

  • The actual recorded testimony clarifies that Chainalysis does not validate their results (why would they? Just trust us)

• The FBI arrested the admin of a Mastadon server on charges unrelated to the server, but seized all his electronic devices (common clause in arrest warrants) wich included a backup of all server data

  • Just getting off twitter doesn't solve the problem of privacy online

Energy and Bitcoin

• Yet another bitcoin argument for mining logically reaching zero emissions
• But what's the real energy disconnect between Greenpeace/COP21 and bitcoin energy maximalists? Doomberg thinks that the core fallacy is the economic theory of degrowth that associates growth and environmental destruction.
  • Listen to Doomberg, Rozencwag, and Anas Alhaji on energy investing and shfiting ESG narratives

Bitcoin Education

• Bitcoin Optech #261 covers lightning protocol discussions on the bitcoin dev mailing list, as well as an interesting stack overflow where Peter Wuille explains why a bitcoin seed should probably have more than 128 bits of entropy, but individual addresses don't

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

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Sponsors and Acknowledgements

Music by Lesfm from Pixabay
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