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Finding Bitcoin Signal with Jeff Booth

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SHOW NOTES:
https://www.whatbitcoindid.com/podcast/finding-bitcoin-signal

Jeff Booth is the Author of The Price of Tomorrow and CEO/Chairman of Ego Death Capital. In this interview, we discuss how Bitcoin fundamentals (such as its approach to the blockchain trilemma, centring on truth, and its deflationary effects) run counter to current economic theories, making Bitcoin’s signal harder for some to find.

THIS EPISODE’S SPONSORS:
Gemini – https://www.gemini.com/
Wasabi- https://www.wasabiwallet.io/
Ledn – https://www.ledn.io/
Fidelity Investments – https://crypto.fidelitycareers.com/
Ledger – https://www.ledger.com/
Texas Blockchain Summit – https://www.texasblockchainsummit.org/
BCB Group – https://hubs.ly/Q011cb730

TIMESTAMPS:
00:00:00 Introduction
00:01:00 Inflation is theft
00:15:54 History of failed centralised systems
00:26:56 The Blockchain Trilema
00:37:18 Decentralisation & security
00:43:58 Driving Bitcoin adoption: education or need?
00:53:24 The protocol layer enables a p2p internet
01:02:31 A society connected through base-layer truth
01:12:35 Unifying mission of Bitcoin

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#Bitcoin #Finance #Economics

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49 Comments

  1. Guys, focus please: adoption will come when you don’t need a 12-24 words seed phrase you can lose and you don’t need to copy paste long addresses etc. Just simplify the user interface to begin with. Then wait for regulation (not btc regulation but institutional regulation)

  2. I do appreciate Jeff's perspective, and I think this is one of his better interviews, I think he doesn't do a great job of explaining himself to simpletons like me. His explanation on how to explain Bitcoin to your family was so far off. I think most people wouldn't even understand inflation enough to be able to answer "why is inflation needed?". Jeff is great but he is not great for explaining this stuff to normal people. One has to be deep into Bitcoin to understand his interviews, imo.

  3. You were just Black Pilled by jeff with something we may as well call Volunteerism ( Anarchism)…, to use a concept…. Go jeff!!!!!

  4. This might be your most important episode yet! I will have to watch a few more times to get it all to sink in effectively.

  5. I own btc…,but I don't see how 21 million btc(yes I know each btc is 100 million satoshi), is enough for 8 billion people and growing❗️

  6. Pure signal here! Much gratitude for this information! Let's get out of the old system! Great job Mike! Thanks!

  7. Come on!!… you had a guest recently (Lyn Alden?) talking about the Eurodollar and all that, Jeff Snider is a main guy about that eurodollar system, and yet as important as that is, you never ask your GREAT, knowledgable, guests about it in the context as to what might replace the current WORLD monetary system… Jeff would be a great person to ask about it and why he thinks it will be bitcoin and why it can never be the eurodollar?? both seem to be ledger systems, etc etc…

  8. The way I try to mansplain it to people is, altcoins are like whores, whereas BTC is a loyal childbearing woman that you can bank your marriage on. #marriedtoBTC but I like whores too.:) Just be sure to use a condom and get out fast. What you don't want to do is fall in love [hearts and minds] with the sex worker or have a baby with her because she'll use it as leverage and wreck you kind of like SBF et al. She'll give your wealth to her pimp, who then funds the Marxist election stealing democrats behind your back further enslaving you into infinity. Amazing how the analogy plays itself out isn't it? The parallels are striking aren't they?

  9. Ive just realised the reason most people dont know what Bitcoin is or want to know, is because they don't know what money is or where it comes from or want to know that either. Trying to tell them why something they dont want to know about is better than something else they dont want to know about is pointless. Thanku

  10. .
    Mind blowing…

    Just when I honestly thought I could see the bottom with the faint outline of a rabbit, turns out it was all Just a shadow of an Illusion …

    I had to reply @1:09 minutes in 10 times and still did not understand 😕

    Jeff, what did you say would have probably have happened had we the US Electorate did re Trump which I think you described had Nothing to do with him in particular( or not?) ????

    Voted away More rights???
    If so how?
    Jeff, PLEASE clarify the scenario you were attempting to illustrate. (Or anyone else!)

    Thank you!!

  11. Hello Peter, your BlockFi sponsorship, now that they have paused withdrawals, shows the ethical complexities and conflicts of interest in depending on a sponsor for financial income…an example of that ethical complexity(if this report about you is true)is you ending your deal with BlockFi, pulling your funds from BlockFi ….. but not saying a word about this on your podcast of twitter etc… you acted (if this report is true) to protect your interests , but not those of your listeners….

  12. This was great, I listen a lot to various motivational videos, but this one gets me more excited and feeling good about the future than anything heard in a long time.

  13. 07:50 @JEFF BOOTH It's not physics that dictates ECONOMIES, it's human emotions. That is why I and others (Keynes) argue that inflation is necessary – to prevent panics caused by human fear. Nothing to do with physics my friend.❤️

  14. Jeff is a gem. Made me think of something I heard Vijay say a while back, "Information moves at the speed of light, but understanding does not." We are all nodes for the development of understanding.

    Love that Bedford hoodie w/ the Bitcoin B on it. I will be buying one. Go Bedford! (and SKOL Vikings!!)

  15. The average person can’t have the “money is theft” discussion unfortunately.
    That’s not the approach to use to persuade for the new BTC system.

  16. love Jeff. read his book, but i barely understood a word of this. “system, system, system….” i need an interpreter. anyone have a TL;DR?

  17. bro thinks he has a 'vote' when just before our eyes the last 3 UK 'leaders' were appointed without vote lol

  18. Hey. I live in Hamilton, Ontario, Canada and have a sweet loft. If you’re visiting this area you and Danny are more than welcome to use it. Would love to shoot the shit with you guys.

  19. This great interview came at a perfect time to keep the drive alive. All the politics, bad practices and control issues surrounding BTC seem like a comedy, drama series, but not a horror story, to those of us waiting on cold storage. Thanks for hosting guys ! Good luck in the Great White North.

  20. Peter I love that even though you've been orange pilled you never stop questioning. In that spirit, have you ever worried privately that even with bitcoin and our understanding of the decentralized trust theory, there's still an article of faith required on the part of true believers to accept that everything we're told about decentralization is true without us really having the technological capability to corroborate or disprove it? Sort of like having a future SBF nightmare moment about bitcoin because we wake up one day and learn that Satoshi built a back door. Just wondering. Keep up the great work man. Love what you do.

  21. Does this theory take into account the fact that we (poor people) don’t have to spend money on things like calculators (or cameras, or vcrs, or CD players, etc.). Yes we have to pay for an iPhone but it’s far cheaper than buying all of those items (and replacing them periodically). So although we don’t have the money in our bank accounts, we are saving money by not having to spend on old technology…

  22. I felt like I had a knowledge feast after watching this episode. I am mentally very satisfied. Thank you!

  23. Jeff's take that any growth in the money supply as theft is insane. A static money system can't scale. At all.

  24. My fave line at marker 44:44: People spend most of their time reinforcing the very system they hate. Vote Left or Right, it doesn't matter. You are working WITHIN that broken system. Your work is REINFORCING that broken system. You must EXIT that system because IT cannot be changed.

  25. It’s clear Peter just cannot give up on his UK, big government nanny, state mentality. He’s moved forward since I started listening to him, but in the end, he just cannot let go of his programmed love of government and the delusion that somehow his voice matters.

  26. Delusional. This guy thinks he has it all worked out. But he doesn't rule the world. Bitcoin is gold 2.0 best case.

  27. Jeff is saying that every new user brings more value to all other users in Bitcoin blockchain. However, few minutes earlier he also says that Bitcoin blockchain picked Security and Decentralization from the blockchain trilema. That means it gives up Scalability. So what I understand from it, is that every new user is actually a burden on the chain. How are you going to help the poor with double digits transaction fees?
    Can someone help me understand this? Jeff?

  28. When I listened to this before bedtime yesterday I thought “Neat ideas wrapped in simple explanation”.

    But when I really listened this morning I wrote down new profound ideas every minute of the show and thought “I want to see this new world of trust and abundance”

  29. If money becomes pure Digital without any cash in the Systems can't work bcz – what happen if a Blackout appears, what if whole countries will be blocked being a part and having access to the system? What if data "get lost or manipulatet ??

  30. Every time I listen to Jeff I get confused. I’m not sure if I’m thick or he’s trying to sound smart but actually talking shit

  31. Talk about Liberal democracies, look at Canada‘s law yesterday that made illegal, semi-auto firearms. How can we defend ourselves now against corrupt leaders that has disarmed the population???

  32. I love everything about this, but Bitcoin is definitely not the most decentralized blockchain. You just keep ignoring Bram Cohens project. It’s far more decentralized.

  33. Yup, the new system is superior.
    But when things get really bad, those who understand and use the superior system get scapegoated. They will be blamed for the misery of the rest, who don't understand and don't use it.
    And those currently in power, benefitting from the larcenous and inferior fiat system, will love and encourage that!

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